NobleOak Disability Income Insurance Review

NobleOak Disability Income Insurance

Key points of NobleOak Disability Income Insurance Insurance

NobleOak's Disability Income Insurance Insurance is designed to help replace your lost income if you're unable to work due to serious sickness or injury. It offers the following benefits:

• Total Disability: You'll receive an ongoing monthly benefit to replace up to a maximum of 70% of your pre-disability income, depending on your income level (that's up to $30,000 per month for the first 24 months, $25,250 each month thereafter).Here's the full breakdown of how much you'll be covered for over time:
  Within the first 24 months

  Annual Income level	Income % covered
  First $200k	70%
  Next $240k	50%
  Next $500k	20%
  $500k+	0%

  Month 25 onwards

  Annual Income level	Income % covered
  First $200k	60%
  Next $240k	45%
  Next $500k	15%
  $500k+	0%

  This helps you continue to provide for your family and manage your everyday expenses, giving much-needed peace of mind and allowing you to simply focus on getting better.

• Partial Disablement benefit. A reduced monthly benefit will be paid if you are sick or injured but you are able to return to work in a reduced capacity. This means you will only be able to perform some of the duties of your usual occupation and you must be earning less than your pre-disability income.
• Waiver of premium. You will not have to pay any premiums for the period in which you are being paid benefits.
• Recurring Disablement benefit. If you return to work for less than 6 months after receiving your most recent Total Disablement or Partial Disablement benefit and suffer a recurrence of the same cause of your claim, this will be treated as a continuation of your original claim. No waiting period will apply for this benefit.
• Specific Sicknesses and Injuries benefit. You will receive a monthly benefit if you suffer one of a specified list of injuries or illnesses, such as coronary artery bypass surgery, Alzheimer's Disease, heart attack, major burns or multiple sclerosis. You will receive benefits for six months if you select a waiting period of 30 days, or three months if you select a waiting period of 90 days. This benefit is paid regardless of whether or not you are Totally Disabled, and regardless of whether or not you can return to work.
• Death benefit. If you die while receiving a Total or Partial Disablement benefit, your estate will receive a lump sum benefit equivalent to 3 months of Total Disablement benefit.
• Rehabilitation Expenses benefit. If you are receiving benefits and your medical practitioner recommends, you may be eligible to receive financial assistance in the following situations:
• Claim Payment Benefit Increases. Once you've received a Total or Partial Disablement benefit for 12 consecutive months, your monthly benefit will automatically increase each year by either 5% or the Consumer Price Index (CPI), whichever is lesser.

Note: Be sure to check the Product Disclosure Statement (PDS) for terms and conditions.

Business Expenses Insurance

Key points of Business Expenses Insurance

NobleOak's Business Expenses Insurance is tailored to meet the needs of self-employed people who are seeking to cover the fixed operating costs of their business.

If you cannot work because of illness or injury, your NobleOak insurance will kick in and provide you with the following:

• Reimbursement of all fixed ongoing business costs.
• The amount of the business costs NobleOak will cover is determined when you take out the policy and choose the cover amount. You can cover up to $25,000 per month.
• Ongoing fixed costs are those which would be incurred by the business whether it was generating income or not, for example payments for your utilities and loans.
• Benefit payments for up to a year while you recover.

Note: Be sure to check the Product Disclosure Statement (PDS) for terms and conditions.

Applying for cover

Key points of applying for cover

With NobleOak:

• To be eligible for NobleOak Disability Income Insurance Insurance, you'll need to be 18 - 55 years old.
• To be eligible for Business Expenses Insurance, you'll need to be 21 - 59 years old.
• Applications generally take about 15 to 20 minutes to complete.
• Depending on whether or not additional information is required, the application process is pretty straightforward.
• A dedicated client services team to assist you with any questions you might have.