How do I change my contact details?

Easy! You can update any of your details by either:

• calling us on 1300 551 044
• emailing us at [email protected]
• faxing us on 02 9299 7852.

How do I update my beneficiaries?

If you want to add or remove a beneficiary from your insurance plan, please provide all changes in writing, signed and dated. We can accept this via email at [email protected] or fax on 02 9299 7852 or post to GPO BOX 4793 Sydney NSW 2001.

We require the full name and date of birth of the beneficiary, and their relationship to the life insured. In the case of you having more than one beneficiary, the designated benefits for each must add up to 100% of the total benefit.

How do I apply to increase or amend my cover?

If you would like to change the level of cover on your NobleOak Insurance plan, please send us your written request to:

• decrease your cover – this would not require you to go through any further underwriting.
• Increase your cover – you would be required to complete a new application and go through the full underwriting process.

If you would like to discuss changing the cover on your plan, you can speak to a friendly NobleOak insurance specialist on 1300 551 044.

How much will my premiums increase each year?

Like most Life Insurance sold in Australia, Premium Life Direct is a stepped premium product. This means the premiums will increase each year with your age.

The annual premium increases because the risk of you needing to make a claim grows greater with age. It might 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% or higher.

In addition, your premium will increase each year to guard your cover against inflation. This helps ensure your level of cover remains relevant to your needs. You do have the option to stop the indexation of your cover if you prefer, in which case any rise in your premium will only be due to your increasing age.

Here is a quick guide as to the two main factors that affect the cost of your cover over time, and how you can manage your costs.

Are my insurance premiums tax deductible?

Income Protection Insurance premiums are generally tax deductible, whether you are insured with NobleOak or any other insurer.

However, Life Insurance, Total and Permanent Disability Insurance, and Trauma Insurance are generally not tax deductible for most taxpayers when insuring themselves.

If you are purchasing Life and TPD insurance for business purposes, then your tax situation may differ. In this case, and for all queries about taxation, we recommend you seek advice from your accountant or financial adviser.

How Do I Add A Third Party Authority To My Plan?

If you would like to add a third-party authority to your NobleOak Insurance plan, for instance to give your financial adviser or spouse the authority to give instructions to us on your behalf, simply write a signed and dated request to that effect.

We can accept this request via:

• email at [email protected]
• fax on 02 9299 7852
• post to Client Services, NobleOak, GPO BOX 4793 Sydney NSW 2001

How do I cancel my cover?

If you decide to cancel your NobleOak insurance cover, please write a signed and dated request to that effect, and include your plan number and reason for cancellation.

We can accept this request via:

• email at [email protected]
• fax on 02 9299 7852
• post to Client Services, NobleOak, GPO BOX 4793 Sydney NSW 2001.

How do I remove indexation from my cover?

If you decide you don’t want your cover to be increased with inflation, simply write a signed and dated request to remove indexation from your plan, advising us of your plan number.

We can accept this request via:

• email at [email protected]
• fax on 02 9299 7852
• post to Client Services, NobleOak, GPO BOX 4793 Sydney NSW 2001.

How do I change an Adviser on my account?

If you decide you would like to remove your financial adviser from your NobleOak insurance plan, please write a signed and dated request to do so, and include your adviser’s name and your plan number.

We can accept this request via:

• email at [email protected]
• fax on 02 9299 7852
• post to Client Services, NobleOak, GPO BOX 4793 Sydney NSW 2001.

How do I change the ownership of my cover to my SMSF?

If you would like your NobleOak insurance plan to be owned by your SMSF, please provide a signed and dated written request to that effect. Please note we will require the full name of your SMSF and new banking details for the nominated SMSF.

We can accept your request to change owners via:

• email at [email protected]
• fax on 02 9299 7852
• post to Client Services, NobleOak, GPO BOX 4793 Sydney NSW 2001.