NobleOak Direct Life Insurance

NobleOak

NobleOak is a provider of life insurance, income protection insurance and business expenses insurance.

Compare NobleOak Life Insurance

Considering NobleOak Life Insurance? See our comparison table below for a snapshot of their current market offerings. Please note that this table has been formulated based on a non-smoking, 30-year-old male in a professional occupation. To compare more direct life insurance products, please click here.

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NobleOak wins Outstanding Value Award for Direct Life Insurance in 2018

In Canstar’s 2018 Direct Life Insurance Star Ratings, we researched and rated 27 direct life insurance products from 27 insurers to determine which providers offer Outstanding Value. We are pleased to congratulate NobleOak, one of our three winners of an Outstanding Value Direct Life Insurance Award in 2018.

Why NobleOak is a winner

NobleOak has received this award for a third consecutive year for its Premium Life Direct product. This product received 5-Stars in all profiles considered and Canstar Research found the primary driver of this strong performance was low premiums, which reduced by 5% for all insurable amounts compared to last year.

NobleOak offers a number of features such as guaranteed future insurability, so a person can increase the sum insured when their circumstances change, e.g. when they marry or start a family. In addition, suicide is only excluded in the first 13 months of the policy, and other typical general exclusions do not apply, such as death as a result of being under the influence of drugs/alcohol, working at heights or underground, or participating in dangerous pursuits such as motorsports, mountaineering or hang-gliding.

Other standout features include optional additional coverage including total permanent disability (TPD) cover of up to $5 million and trauma cover of up to $2 million. This can be added without the requirement for the consumer to obtain advice.

How do I buy NobleOak life insurance?

You can get a quote for NobleOak life insurance by clicking on one of the NobleOak products in Canstar’s direct life insurance comparison page for your occupation and age:

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How much does NobleOak life insurance cost?

The cost of your life insurance will vary depending on several different factors such as your age, occupation, choice of insurer, and whether you’re looking for direct life insurance or advised life insurance. You can compare NobleOak life insurance premiums for direct life insurance for your situation by clicking on the link below. Compare these premiums to the average premiums for direct life insurance on our database.

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NobleOak FAQs

Generally speaking, premiums for forms of life insurance such as term life insurance, TPD insurance or trauma insurance may not be tax deductible, according to ATO (Australian Taxation Office). Ask your tax accountant or financial adviser for more details on this.

The ATO however, states that you can claim the cost of premiums you pay that cover the loss of your income, such as income protection insurance. You can’t, however, claim a deduction for premiums that compensate you for physical injury or are taken out through your super fund. Ask your tax accountant or financial adviser for more details on this.

NobleOak life insurance policies are renewed annually, with stepped premiums that increase as you age and as your level of cover increases with indexation, to keep up with inflation.

An optional premium freeze is also offered, meaning your premiums can be “frozen” upon request, so they do not increase each year (level premiums). There are pros and cons to this however, and it’s important to understand that when a premium freeze is applied, your sum insured decreases each year as you get older.

For more information about stepped premiums versus level premiums, read this article.

You should be able to change your level of cover by adding or removing optional features like TPD cover, and by increasing or decreasing your sum insured for each type of cover included in your life insurance policy. Keep in mind that increasing your level of cover and or adding your spouse or children to your policy is likely to mean you pay a higher insurance premium.

If you wish to alter your policy, contact NobleOak on 1300 551 044 (open Mon-Fri), or email enquiry@nobleoak.com.au, or fax (02) 9299 7852 to discuss your options.

At the time of writing, NobleOak direct life insurance does not automatically exclude any pre-existing conditions.

NobleOak may impose Special Acceptance Terms on your cover at the time you take out the policy in order to cover you for certain conditions.

You have a legal duty to disclose (tell NobleOak about) any pre-existing medical conditions you have now or had in the past, as well as current medications and health issues. Find out more about pre-existing conditions for life insurance here.

You or your beneficiaries can claim with NobleOak life insurance by calling them on 1300 551 044 (open Mon-Fri) or email: claims@nobleoak.com.au.

If your insurance claim is approved, NobleOak will arrange the payment of your benefit.

 

NobleOak was officially established as the Druids Friendly Society of NSW in 1877 but they began as early as 1861, when the NSW Ancient Order of Druids first offered insurance to its members. These early beginnings make NobleOak one of Australia’s oldest insurers.

They are a specialist provider in Australia for life insurance, TPD, trauma insurance, income protection insurance, and business expenses insurance. NobleOak have won many awards for their life insurance products since entering the market, including the Canstar Direct Income Protection Award in 2016, 2017 and now 2018.

The NobleOak vision is to protect Australians and their families by offering them affordable and accessible insurance. NobleOak provides fully underwritten cover which means that a number of health and lifestyle questions are asked at application time, so applicants know exactly what they are covered for and there are no surprises at claim time.

NobleOak proudly advertises that they have a client satisfaction rating of 95.5% (2017 client survey by Pureprofile).NobleOak promise that a real person in your time zone will answer your call within three rings. NobleOak also supports the Australian community by partnering with organisations such as the Pharmaceutical Society of Australia and the Independent Practitioner Network.

NobleOak Premium Life Direct

Canstar Research
Rating:
Award: Outstanding Value Life Insurance

Direct Life Insurance

30-39 year old male

2017 Star Ratings Report

The table below shows some of our best life insurance options available for a non-smoking male aged 30-39 years old, who is working in a professional occupation. This table is sorted by Star Rating (highest to lowest).

Compare the rest of your options when it comes to term life insurance using our website:

Compare Life Insurance

Written by: William Jolly | Last updated: June 1, 2018