NobleOak Life Insurance Background

NobleOak Life Insurance

The table below shows NobleOak Life Insurance policies on our database.

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About NobleOak Life Insurance

NobleOak is a provider of life insurance, as well as direct income protection insurance, total and permanent disability (TPD), and trauma insurance.

NobleOak says it can trace its history back to the 1870s in Australia when the organisation was initially founded as one of the first benevolent societies in the country. But its founding principles go back much further and draw from the Ancient Order of Druids that existed in Europe many centuries ago.

In 2011, the United Ancient Order of Druids Friendly Society of NSW became NobleOak Life Limited.

NobleOak says its vision is to protect Australians and their families by offering “accessible and affordable” insurance.

See how NobleOak compares in Canstar’s Life Insurance Star Ratings and Awards.

Frequently Asked Questions about NobleOak Life Insurance

NobleOak offers life insurance cover that could help to clear any debts and support your family should you die or become terminally ill.

As a provider of life insurance, NobleOak offers the following features:

  • Apply for cover up to $25,000,000 if you’re an Australia resident aged 16 to 69 (higher amounts will be considered where it can be justified).
  • Cover up to $500,000 may still be available if you’re aged 70-74
  • An advance of $15,000 of your cover to help with funeral expenses
  • If you become terminally ill you be eligible for an advance on your death cover before you die

The cost of your NobleOak life insurance will vary depending on several different factors such as:

  • your age and gender
  • occupation
  • lifestyle
  • whether you smoke or not
  • your medical history
  • the level of cover you choose.

NobleOak says you can potentially reduce the cost of life insurance by making sure you’re fit, a healthy weight, a non-smoker, and exclude risky activities such hang-gliding and quad-bike riding from your cover.

You can get a quote for NobleOak life insurance on its website before applying to see what you might need to pay. All you need to complete an online form and provide an email address and phone number.

You can’t claim a tax deduction for life insurance premiums, says the Australian Taxation Office (ATO).

Premiums for other forms of life insurance such as total and permanent disability (TPD) insurance or trauma insurance are also not tax deductible.

You can claim a tax deduction for premiums you pay that cover the loss of your income.

Ask your tax accountant or financial adviser for more details on this.

NobleOak life insurance policies generally use stepped premiums that increase as you age, because the company says the risk of you needing to make a claim grows greater with age. Your level of cover you have should also increase as you age, to guard against inflation. The amount will increase automatically each year using the Consumer Price Index, or 3%, whichever is the greater.

You have the option to freeze your premium, upon request, so they don’t increase each year. But note the level of cover will be adjusted to match the frozen premium, which means the amount you are insured for decreases each year as you get older.

You can change your level of cover by adding or removing optional features such as 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.

As part of your application, NobleOak says you’ll be asked about your health and lifestyle.

You have a legal duty at this time to answer honestly, to disclose any pre-existing medical conditions you have now or had in the past, as well as current medications and health issues. You may be required to take a medical.

Based on the information given at that time, NobleOak may then impose special acceptance terms on your cover at the time you take out the policy in order to cover you for certain conditions.

In some instances NobleOak says acceptance may be subject to a medical loading – an increase in your premium – or possibly an exclusion specific to your particular situation.

Find out more about pre-existing conditions for life insurance.

To lodge a claim with NobleOak, you or your beneficiaries need to notify the Claims Team on 1300 551 044 and someone will walk you through the process. They will send out a claim form and explain what documents are required, which may include:

  • Claim form including signed medical authority
  • Death certificate – certified
  • Proof of identity – certified
  • Police and coroner report – if applicable
  • Medicare records through MyGov

For terminal illness claims you will need two medical attendance statement’s to be completed by specialists confirming your diagnosis that you have 24 months or less to live

Once you’ve completed the form and sent it back with any relevant documents, the claim can then be assessed. If approved, NobleOak will then make arrangements for any payments due.

You can start a quote for income protection insurance online, or you can arrange for a call back. You can also call 1300 041 494 (8am-11pm AEDT Monday-Thursday , 8am-9pm AEDT Friday).

NobleOak may ask you:

  • Your full name
  • Date of birth
  • What state or territory you live in
  • Your occupation
  • Your income

You then need to provide an email address and a contact phone number.

Make sure you read carefully the details of any policy and any relevant documents such as any Product Disclosure Statement (PDS) and Target Market Determination (TMD). You should also check to see if you have any life insurance cover through any superannuation you may have.

Latest in life insurance

Canstar Star Ratings and Awards

Looking for an award-winning product or to switch providers or brands? Canstar rates products based on price and features in our Star Ratings and Awards. Our expert Research team shares insights about which products offer 5-Star value and which providers offer outstanding value overall. We also reveal which providers have the most satisfied customers in our dedicated Customer Satisfaction Awards.

Canstar's Life Insurance Awards

About the authors

Michael Lund, Senior Finance Journalist

Michael Lund
Michael is an award-winning journalist with more than three decades of experience reporting on a range of subjects, including general news, lifestyle, local government, science and technology. As a senior finance journalist at Canstar, Michael has written more than 100 articles covering superannuation, savings, wealth, life insurance, home loans and more. His work has been referenced by a number of other finance publications, including Yahoo Finance and The Motley Fool. Michael started in the UK working for a number of local and evening newspapers, including as a local government reporter. He then moved to the BBC and worked in radio before taking up the position of bi-media local government correspondent for the West of England, based in Bristol. In 1998 Michael moved to Australia and worked for Queensland’s The Sunday Mail before joining the ABC in Brisbane. There, he worked as a reporter and producer in a number of areas in radio and television, including for ABC TV’s popular Australian Story. After a stint as a tutor and lecturer in journalism at Queensland University of Technology, Michael returned to News Corp as a feature writer for The Courier-Mail. An interest in online journalism saw Michael join The Conversation first as a science and technology editor and later as a commissioning editor, working across all areas of coverage including with The Conversation’s New Zealand team. Michael has been lucky enough to win a few awards for his work, including a Queensland Media Award and a highly commended in the Walkleys. In 2021 he was part of a team that was a finalist in the Australian Museum Eureka Prize for Science Journalism. He holds a Bachelor of Science in mathematics and applied physics (Manchester Metropolitan University) and a Masters of Science in pure mathematics (Liverpool University). You can connect with Michael on LinkedIn. View Michael’s articles.

Joshua Sale, Group Manager, Research & Ratings

Joshua Sale
Joshua Sale is responsible for developing the methodology and delivering Canstar’s flagship Star Ratings, as part of Canstar’s Research Team. With tertiary qualifications in economics and finance, he enjoys helping Australians find more suitable financial products by transforming complex calculations into a consumer-friendly Star Rating that explains the values and benefits of different financial products. As one of Canstar’s company spokespeople, Joshua is confident participating in print, radio and broadcast journalism interviews. He has participated in interviews with the Australian Financial Review, news.com.au and Money Magazine, along with other leading media outlets, discussing topics such as home loan equity, banking incentive schemes, digital wallets and wider finance trends. You can follow Joshua on LinkedIn. Have a media enquiry, and interested in featuring Joshua as a financial expert and commentator? Contact Canstar’s Media Team today.

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