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2023 Direct Income Protection Star Ratings and Award
2023 Direct Income Protection Star Ratings and Award
Canstar’s 2023 Direct Income Protection Star Ratings and Award recognises direct income protection policies that provide outstanding value to consumers.
Release: 23 February, 2023
Outstanding Value Award — Direct Income Protection
Numbers crunched by Canstar Researchers
10 providers assessed
10 policies assessed
80 consumer profiles considered
1 award-winning provider
How did we decide on the winners?
Canstar Research uses a unique, sophisticated ratings methodology for Canstar’s Direct Income Protection Star Ratings, assessing the direct income protection policies on our database based on both the features included and cost of the policy.
To be considered for evaluation, policies must meet Canstar’s eligibility criteria detailed in the methodology.
Canstar’s Research Team assesses each eligible policy across 80 different consumer profiles, taking into account a range of age groups and occupational categories, as well as gender and smoking status.
In each profile, products have been given a Star Rating based on a combination of price (monthly premiums) based on one high and one low sum insured amount; and features, including those related to the application process and initial policy options, payment options, available cover, the claims process, customer support and the policy termination process.
The Outstanding Value Direct Income Protection Award is the provider deemed to offer the strongest overall value, based on the cumulative performance of their offering across all 80 profiles. You can read the full details of how the 2023 Direct Income Protection Outstanding Value Award winner was chosen in the methodology report.
Read our methodology →
View the Star Ratings results →
See all Canstar Star Ratings and Award results →
Congratulations to the winners of Canstar’s 2023 Outstanding Value Award for Direct Income protection:
NobleOak
This is NobleOak’s 8th consecutive win for Canstar’s Direct Income Protection Outstanding Value Award.
NobleOak, or NobleOak Life limited, is an insurance provider specialising in life insurance policies. Outside of direct income protection, they also provide life insurance, trauma insurance, disability insurance and business expenses insurance.
NobleOak’s direct income protection policies are underwritten by NobleOak Life Limited.
Does Canstar rate other products?
Insurance
Accounts and Transfers
About Canstar
Canstar also has insights and information about financial products and services generally. You can find out about topics such as: interest rates, buy now pay later (BNPL), business products and tax. You may also be interested in discovering more about calculators and resources, such as our rate checker and free credit score tool, to help you with your financial decision-making.
FAQs
About: Josh Sale, Ratings Manager
Bachelor of Commerce, Economics/Finance dual major, Griffith University. Master of Data Science, Strategy and Leadership, RMIT (ongoing studies)
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 has participated in print, radio and broadcast interviews with the likes of 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.
Joshua is known for his ability to simplify complex products and technical information, crunching the data into meaningful insights for consumers about finance. He has analysed several consumer markets across banking, insurance and wealth, and is keenly interested in various topics, ranging from how Australians interact with their superannuation funds, to the dynamic nature of the health insurance market, and collecting and redeeming credit card reward points.
Joshua believes that knowledge is the first step towards empowerment. Even while studying, he facilitated peer-assisted study sessions for economics, and represented his University’s Business School in an academic committee.
You can follow Josh on LinkedIn, and Canstar on Twitter and Facebook.