NobleOak LIFE INSURANCE Australia’s most awarded Direct Life Insurer 2021.
You might be wondering about which life insurance firm to take cover from as you advance in life. As we may know, life insurance is a contract between an insured and the insurer. The latter provides financial benefits to the insured’s beneficiaries if he dies or becomes terminally ill.
NobleOak could be an outstanding life insurance firm in Australia after we have gone through some of its key features which are:
- Death Benefit: Should you die under NobleOak life insurance cover, your beneficiaries or estate will be paid a lump sum of money. You can apply for cover up to $15 million and higher where it’s justified.
- Funeral Advance Benefit: NobleOak has been advancing about $15,000 of insurance cover to assist funeral expenses upon the receipt of the death certificate and evidence of age.
- Terminal Illness Benefit: Your death benefits cover could be advanced for your health treatment should you become terminally ill instead of paying the death benefit when you die.
To be eligible for this payment:
- You must be diagnosed by two specialist Medical Practitioners, one of which must be a specialist in an area related to the illness or injury you’re suffering from; and
- Their joint or separate diagnoses which certify the first case above and will likely result in death within 24 months of their certification.
- Fully underwritten and tailored by you: Through the form, you will be given to fill, they will be able to provide a tailored underwritten cover for you.
- Protecting Australians for over 140 years: One of Australia’s longest-standing Life Insurers with a heritage dating back over 140 years.
How much NobleOak LIFE INSURANCE can I apply for?
As an Australian resident between the ages of 16 and 69, you can apply for up to $15,000,000 in cover.
- Maximum Cover Level – $15,000,000
- Maximum Entry Age – 69 years old
- Guaranteed Renewable Age – 99 years old
- Terminal Illness Benefit – Yes
NobleOak LIFE INSURANCE cover for young adults
As an adult, there is no bad time to apply for Life Insurance. While you’re prioritizing some aspects of your life, it’s worth enquiring about taking out Life Insurance at a young age. As an adult, there is no bad time to apply for cover. The benefits could vary from paying fewer premiums and having huge sums stacked for you for future events.
NobleOak LIFE INSURANCE for adults under 30
It will be inexpensive to purchase life insurance in your 20s when you have lesser responsibilities than when you’re getting older, rallying with raising a family, taking out a mortgage, or even furthering your education coupled with other responsibilities.
It might interest you to know that life insurance increases as you advance in age. Therefore, having your cover in your 20’s assures lesser premiums. Your premium can increase up to about 2% per year if you’re under 30, but as you approach middle age, the increase in your premium will rise to a greater percentage of about 5-7% per annum.
NobleOak LIFE INSURANCE for young professionals
Have you ever grappled with the fear of what life would look like if you can’t get to work or move around due to illness or serious injury? Income will decrease and expenses will increase, loss of steady cash flow can be very traumatic.
You can augment your life insurance cover with Income Protection Insurance which provides you a steady income should you fall ill and can’t go to work. With their benefits being paid as regular monthly income, it can help you cover most of your bills and expenses during which you are unable to work.
NobleOak LIFE INSURANCE Information for seniors
Trends and statistics
According to their recent customer survey addressing attitudes towards Life Insurance for seniors, it was observed that most Australians are negekecting their personal insurance needs. The survey revealed that 53% of older Australians, aged 55 – 60, are likely to have Life/Death cover compared to 30-34 year-olds (72%) and 35-44 year-olds (68%).
Despite taking a lower risk at this stage, the need for cover can’t be overemphasized. Being insured simply gives the sense of feeling that whatever life throws at you, you have a shoulder to rest your chin.
Over 50’s Life Insurance
Average Australian who is in their ’50s are still on their daily job or are self-employed and might have made an arrangement for retirement. But, if you’re thinking of taking up life insurance, it’s a nice move should you take it, because; financial support through your choice of cover can assist with rent, medical bills, household expenses, and other payments needed for everyday living.
The maximum entry age for Life Insurance products extends to 59 in some cases (Income Protection, Trauma Insurance, TPD Insurance) and 69 (Term Life Insurance) with NobleOak.
Over 60’s Life Insurance
At 60 and above, your chances of being eligible for life insurance cover shrinks naturally because you’re more exposed to health challenges and others.
There are two types of insurance coverage offered by NobleOak to suit those of this age bracket. Which are standard Life Insurance cover and TPD Insurance cover (available as an option with life cover), with maximum entry ages of 59 and 69 respectively.
Since those in this age bracket could suffer more chronic diseases like cancer, diabetes, etc. NobleOak, as your potential insurer, may require you to undergo medical testing for compliance prior to your cover is approved.
How much does NobleOak LIFE INSURANCE cost?
You should first know that the older you become, the higher the cost of cover you would get. Therefore, insurance cover for those in their 20s will be much lesser compared to those in their 50s, 60s, and above. Life premiums will vary from person to person based on criteria which include but are not limited to:
- The amount of cover you need
- Your bill of health
- Whether you smoke (non-smokers pay much less on average than smokers)
- The types of hobbies and pastimes you enjoy
For a quicker understanding of the cover you might need, you can utilize the NobleOak Life Insurance calculator to help you determine the amount of cover you may need in 5 easy steps.