What is TPD Insurance?
TPD or Total and Permanent Disablement Insurance is a popular and important type of cover that is often purchased as an optional extra with Life Insurance. This type of cover is designed to help with financial security by paying a lump sum if you become severely disabled as a result of severe illness or injury and are unable to return to work again.
Maximum Cover Level
$5,000,000 Learn moreNobleOak’s Premium Life Direct products include comprehensive Total and Permanent Disablement (TPD) Insurance cover for up to $5,000,000. This cover is available only when accompanied with Life insurance cover and the amount of cover can be equal to or less than the Life insurance cover.
In the event you become totally and permanently disabled due to severe sickness or injury, NobleOak will pay the full sum insured as a lump sum and this will be drawn down against the value of your Life Insurance cover.
Maximum Entry Age
64 Learn moreTo be eligible for TPD cover, you must be an Australian Resident aged between 16 and 64. Our TPD cover is priced using stepped premiums, which means your premiums will increase each year in line with your age and CPI (where your monthly benefits are indexed to keep pace with inflation).
Guaranteed Renewable Age
75 Learn moreNobleOak’s Premium Life Direct products include comprehensive Total and Permanent Disablement (TPD) Insurance cover for up to $5,000,000. This cover is available only when accompanied with Life insurance cover and the amount of cover can be equal to or less than the Life insurance cover.
In the event you become totally and permanently disabled due to severe sickness or injury, NobleOak will pay the full sum insured as a lump sum and this will be drawn down against the value of your Life Insurance cover.
Financial Advice Benefits
$2,000 Learn MoreUnder TPD cover, you have the option to choose your Occupational Definition. You can choose between “Own Occupation” or “Any Occupation” definition. Please note that if your occupation is classified as Heavy Blue Collar (HBC), only the “Any Occupation” definition is available. For full details regarding these definitions, please refer to the NobleOak Premium Life Direct PDS.
Indexation Protection
Help protect you against inflation Learn moreTo help protect you against inflation, your cover amount will increase each year using the Consumer Price Index (CPI). Your premiums will be adjusted accordingly with these increases.
Cover with Global Backing
Backed by a global reinsurer for your peace of mind Learn moreNobleOak’s products are backed by Hannover Life Re, a leading global reinsurer. We are also an APRA-regulated Life Insurer with a history dating back over 140 years.
Dedicated Claims Support
A dedicated claims consultant that will support you throughout the process. Learn moreDedicated Claims Support
If you or your family need to make a claim you’ll be assigned a dedicated claims consultant based here in Australia. This consultant will support you throughout the claim process.
Affordable
At NobleOak, you buy direct from your insurer making it more affordable. Learn moreAffordable
At NobleOak, you buy direct from your insurer. That means that you are not paying commissions to an Adviser. Save an average of 20% with NobleOak*
Life Insurance Company of the Year
NobleOak has won two more prestigious awards. Life Insurance Company of the Year at the RFi Group Australian Insurance Awards for 2018 and the Strategic Insight – Overall Direct Life Insurance Excellence Award for 2019.
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Frequently Asked Questions
What is TPD Insurance?
TPD or Total and Permanent Disablement Insurance is a popular and important type of cover that is often purchased as an optional extra with Life Insurance. This type of cover is designed to help with financial security by paying a lump sum if you become severely disabled as a result of severe illness or injury and are unable to return to work again.
How much TPD Insurance do I need?
Working out how much TPD cover you need in the event of a catastrophic injury or illness can be challenging, however, this need not be difficult. The amount of cover will depend on your individual circumstances and considerations; will include your overall debts and replacement of lost (future) income, your existing and potential needs, as well as the cost of treatment and rehabilitation. TPD Insurance cover is available from NobleOak when accompanied with life cover issued by us. At NobleOak, you can apply for an amount of TPD Insurance Cover up to your Life Cover sum insured, to a maximum of $5 million. Any approved claim for TPD will reduce your Life Insurance cover by the amount of the TPD payment.
Can I buy Life and TPD insurance together?
For complete peace of mind, TPD Cover is available to purchase alongside Life Insurance with NobleOak. Obtaining TPD means you are taking extra measures to protect yourself and your loved ones from potential financial hardship in case you were to become permanently disabled. You can find out more about combining policies and applying for a quote online. We don’t make TPD insurance available as a ‘stand alone’ policy.
How can I use my TPD Insurance payout?
Providing you meet certain requirements, you can expect to receive a Total and Permanent Insurance Disability payout from NobleOak as a lump sum. You are free to use this payout in any way you choose, like modifying your home, buying specialised equipment, replacing lost income or settling mortgage and credit card debt. At NobleOak, if your payment exceeds $200,000, then an additional $2,000 is available to use for independent financial advice to assist you with managing your money.
Can I get a TPD Insurance quote online?
Contact NobleOak on 1300 041 494 to speak to one of our Insurance Specialists to learn more about getting the right TPD Insurance for you. Although we can’t provide personal advice, we can explain the features and benefits of our products and answer any questions you have relating to our cover, so you can access and obtain the cover you need.
Visit our FAQ page to find out more information on NobleOak’s TPD Insurance product. The insurance is subject to the terms and conditions in the PDS which contains the relevant information including any exclusions.
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Terms and Conditions
View T&C's*Average Saving on Life Cover
The 20% savings quoted are the average savings when comparing NobleOak’s premiums for its Term Life cover under NobleOak’s Premium Life Direct product to the average cost of a range of Term Life insurance products offered by a number of other Life Insurance companies, including products available directly from the insurer (6 products included in this comparison) and those available for purchase through a financial adviser or broker (6 products included in this comparison).
Based on premium rates available as at April 2020, Plan for Life has calculated that for Term Life, Noble Oak’s Premium Life Direct product is on average 46% lower than other comparable Direct Offerings (using an analysis of 6 products, Male and Female non-smoker White Collar workers with a Sum Insured of $500,000 and across 5 year age bands from age 30 to age 60).
Plan for Life has also calculated that for Term Life, Noble Oak’s Premium Life Direct product is on average 10% lower than Advised Offerings (using an analysis of 6 products, Male and Female non-smoker White Collar workers with a Sum Insured of $500,000 and across 5 year age bands from age 30 to age 60 for Advised products).
Life Insurance rates for insurers, including NobleOak, may change in the future and this could change the outcome.
Plan for Life (Actuaries and Researchers) is the leading independent supplier of Australian Life Insurance and Managed Funds market information, relied upon for over 20 years by the leading life offices, analysts, dealer groups and government bodies.
If you wish to see the comparison tables and how our premiums compare to Direct and Advised products, please click here.
*Average Saving on Life Cover
The 20% savings quoted are the average savings when comparing NobleOak’s premiums for its Term Life cover under NobleOak’s Premium Life Direct product to the average cost of a range of Term Life insurance products offered by a number of other Life Insurance companies, including products available directly from the insurer (6 products included in this comparison) and those available for purchase through a financial adviser or broker (6 products included in this comparison).
Based on premium rates available as at April 2020, Plan for Life has calculated that for Term Life, Noble Oak’s Premium Life Direct product is on average 46% lower than other comparable Direct Offerings (using an analysis of 6 products, Male and Female non-smoker White Collar workers with a Sum Insured of $500,000 and across 5 year age bands from age 30 to age 60).
Plan for Life has also calculated that for Term Life, Noble Oak’s Premium Life Direct product is on average 10% lower than Advised Offerings (using an analysis of 6 products, Male and Female non-smoker White Collar workers with a Sum Insured of $500,000 and across 5 year age bands from age 30 to age 60 for Advised products).
Life Insurance rates for insurers, including NobleOak, may change in the future and this could change the outcome.
Plan for Life (Actuaries and Researchers) is the leading independent supplier of Australian Life Insurance and Managed Funds market information, relied upon for over 20 years by the leading life offices, analysts, dealer groups and government bodies.
If you wish to see the comparison tables and how our premiums compare to Direct and Advised products, please click here.