What is nib Income Protection cover, issued by NobleOak?
If the unexpected occurs and you’re suddenly unable to work due to a sickness or injury, it can be a stressful time for both you and your family.
nib Income Protection cover can help ease some of this financial stress by helping you stay on top of bills and living expenses with a monthly benefit, allowing you to focus on your recovery.
You can apply to cover up to 70% of your income. If you’re an Australian resident aged between 18-60 years and working at least 20 hours per week, you can apply for a monthly benefit up to $30,000. The minimum monthly benefit you can apply for is $1,500. Cover can remain in place to age 65.
This is a summary only. Cover is subject to the terms, conditions exclusions and limitations of the PDS. Consider the PDS, FSG and TMD and if this product is right for you.
Issued by NobleOak, nib Income Protection cover offers fully underwritten financial protection for you and your family in the event you suffer from an expected injury or illness and can’t work.
Get 2 months free~ when you apply for nib Life Insurance by 31 March 2026.
Key benefits of nib Income Protection cover, issued by NobleOak
Total disability benefit
If you become totally disabled due to a sickness or injury, you’ll receive monthly benefits after your waiting period for as long as you remain disabled, up to your selected benefit period.
You may also be paid a reduced benefit if after being totally disabled, you return to work in a reduced capacity. The benefit for partial disability becomes payable providing you have been totally disabled for at least the first 14 days of the waiting period and you remain totally or partially disabled beyond the expiry of the waiting period.
If you become unemployed or need to take extended leave from employment because of full time study, maternity/paternity leave or compassionate leave, you can contact NobleOak and ask to pause your premiums for up to 12 months.
If you become involuntarily unemployed for longer than 30 consecutive days (other than as a direct result of any sickness or injury), NobleOak will waive the premium for up to three months in total while you’re involuntarily unemployed. The waived premium starts from your next premium due date, at least 31 days after you become involuntarily unemployed.
This is a summary only. Cover is subject to the terms, conditions exclusions and limitations of the PDS. Consider the PDS, FSG and TMD and if this product is right for you.
Frequently asked questions
Depending on the cover type(s) you choose and if you meet the conditions of cover, you would be eligible to claim and receive a lump sum payment if you:
Die or are diagnosed with a terminal illness (Life cover)
Could not work again due to a sickness or injury (TPD cover)
Were diagnosed with a serious medical condition listed in the PDS (Trauma cover).
If you suffered a sickness or injury and cannot work, Income Protection cover would provide a monthly payment after your waiting period and up to the maximum of your selected benefit period.
nib Life Insurance, issued by NobleOak is a fully underwritten set of covers. That means your health, lifestyle and other personal details are assessed upfront at the time of application, not when you make a claim. Future claims will be assessed based on clearly defined terms, as outlined in the Product Disclosure Statement.
If you’re an Australian resident aged between 18-60 years and work at least 20 hours per week, you may be eligible to apply for nib Income Protection cover. nib Income Protection cover provides a monthly payment in case you can’t work due to sickness or injury. Cover can remain in place to age 65.
You can apply for up to 70% of your income, with the maximum monthly benefit being $30,000. When you apply, you’ll be asked to select a 30, 60, 90 or 730 day waiting period and a benefit period of either one year, two years, five years, 10 years or to age 65. Usually, nib Income Protection cover premiums will be more affordable if longer waiting periods and shorter benefit periods are selected.
Income Protection cover is available with nib Life Insurance, issued by NobleOak, for Australian residents aged 18–60 years who are working at least 20 hours per week.
Please note that your cover is subject to underwriting and confirmation of acceptance by NobleOak. The actual premium (including any applicable loading) will depend on several factors, including your age, occupation, pastimes, gender, sum insured, smoker status and health.
nib Income Protection cover does not cover redundancy. Rather, it’s there to help support you financially if you happen to be unable to work due to sickness or injury.
For all the terms, conditions, limits and exclusions of nib Income Protection cover, please refer to the PDS.
When determining how much nib Income Protection cover you may need, you may wish to think about:
Your current debt i.e. your mortgage, personal loans and credit cards
The number of dependants you have
Your current income
Education expenses for your children i.e. school and university fees
Ongoing household expenses, including utility bills, groceries and insurances
Lifestyle costs i.e. sport and music lessons, birthdays and holidays
Childcare and home assistance.If you or your spouse are stay-at-home parents, you may need to cover the cost of home help to help look after the children and manage running the household.
Income Protection cover with a nib Life Insurance policy, issued by NobleOak, can be included in an SMSF. Where cover is taken through an SMSF (that is, the trustee of the SMSF will own the cover) there are certain limitations because of the Superannuation Industry Supervision Act 1993 (SIS) requirements. These apply to cover owned by a superannuation trustee of an SMSF and, where applicable, they are mentioned in the PDS. Because superannuation is a complex area which changes from time to time, it’s suggested that you obtain tax or accounting advice when considering your taxation affairs.
While premiums for nib Income Protection cover are generally tax-deductible, you need to make sure you understand the tax implications and may need to seek professional tax advice to find out more.
Some individuals who apply for Income Protection cover within nib Life Insurance, issued by NobleOak, may require a medical examination. Whether or not you need a medical examination depends on several factors, such as your age, health status, lifestyle and the cover types and sum insured amounts you apply for.
Your cover will start once it’s accepted by NobleOak and communicated to you in writing. Until then, NobleOak may ask for more information to fully assess your application. Your duty to disclose any relevant information continues right up to the point your application is accepted.
When your insurance cover begins, you’ll be issued with an acceptance letter and certificate of cover outlining the full details of your insurance. Please keep these documents together with the PDS for future reference.
You’ll also receive an annual advice prior to each policy anniversary confirming your insurance details, including your insured benefits and premium payable.
Interim Accidental Cover is provided to you while your application for nib Income Protection cover is under assessment. NobleOak will pay the monthly cover amount applied for up to 24 months to a maximum of $4,000 per month.
Subject to the eligibility and terms referenced in the PDS, these benefits are provided at no extra cost to you.
Contact NobleOak on 1300 993 413 to get a claim form for your nib Life Insurance policy, issued by NobleOak.
Once completed, email your form to claims@nobleoak.com.au or mail to: Claims Team, NobleOak Life GPO Box 4793 Sydney NSW 2001
If you have a complaint about your nib Life Insurance policy, issued by NobleOak, or the service that has been provided (including the obligations under the Life Insurance Code of Practice) please contact NobleOak to let them know your concerns. The NobleOak team will do all they can to resolve your complaint as quickly as possible. All complaints are handled by the NobleOak Client Care team. They will contact you within one business day of receiving your complaint and will aim to resolve your complaint within five business days and no later than 30 calendar days (subject to access to the required information).
There are several ways you can contact the Client Care team to register your complaint:
Write to NobleOak: Attention: Client Care team, NobleOak Life GPO Box 4793 Sydney NSW 2001
To assist NobleOak in dealing with your complaint quickly, please include the following information:
Your name and contact details, including your daytime phone number and email address
Details of your complaint
Your desired outcome.
If you are unhappy with the handling of your complaint, or the resolution of your complaint you can escalate your complaint to the Australian Financial Complaints Authority (AFCA). AFCA provides fair and independent financial services complaint resolution that is free to consumers.
NobleOak Life Limited (NobleOak), an award-winning life insurer, is the issuer of nib Life Insurance. They’re an Australian life insurer that was established in 1877 and have been protecting Australians for over 145 years.
NobleOak is regulated by the Australian Prudential Regulation Authority (APRA) and holds an Australian Financial Services License issued by the Australian Securities and Investments Commission (ASIC).
NobleOak has adopted the Life Insurance Code of Practice (Code). The Code sets out the minimum standards for dealing with, communicating withand servicing members. It’s built around the principles of clarity and transparency, fairness and respect, honesty and timeliness of communication.
NobleOak is also a member of the Council of Australian Life Insurers (CALI), a body which supports the Australian life insurance industry and its members through dedicated representation and engagement. CALI advocates to drive positive outcomes for customers, insurers, and their partners.
The information provided on this website is factual in nature and any advice is general in nature. Before making a decision to purchase or continue holding a product, you should consider your personal objectives, financial situation and needs. You should also read the relevant Product Disclosure Statement (PDS), Target Market Determination (TMD) and Financial Services Guide (FSG), available on this website.
nib Life Insurance is issued by NobleOak Life Limited (NOL) (ABN 85 087 648 708) (AFSL 247302). In this communication, all references to “our”, “us”, “we”, “NobleOak” means NOL. nib Life Pty Limited (ABN 91 003 037 625) (nib) is an Authorised Representative of NobleOak Services Limited AFSL 286798 for the purposes of providing general advice and arranging for customers to apply for nib Life Insurance. nib acts on behalf of NobleOak Services and not on your behalf. nib and its related bodies corporate (nib entities) do not assess and are not responsible for applications, claims or benefit payments under the product or in connection with life insurance. nib Life Insurance issued by NOL is not a product of, nor is it guaranteed by, nib or any related bodies corporate of nib. NOL and its representatives handle all claims.
You should not cancel any existing life insurance policy until you have received written confirmation that your replacement cover is in place.
*nib Life Insurance applicants may be eligible to receive an additional $10,000 of Life cover at no additional cost (subject to maximum cover levels in the Product Disclosure Statement (PDS)). If eligible, this amount is added to your nominated Life sum insured and shown in your certificate of cover. The additional cover is subject to the same underwriting requirements, terms, conditions and exclusions outlined in the PDS and your Policy Schedule. This additional cover is not available if only standalone Trauma cover or only Income Protection cover is purchased. Eligibility criteria apply and approval is not guaranteed. The terms of this offer may change at any time. This offer may be revoked at any time.
**Eligible nib members are entitled to a 10% discount on nib Life Insurance premiums, which remains in place for the duration of the cover. nib members are current nib Health members (excluding international members), current Free members or an nib Travel policyholder with an unexpired policy. This offer applies only to new customers who take out a quote and purchase nib Life Insurance policies. The terms of this offer may change at any time. This offer may be revoked at any time.
***As reported by MoneySmart.gov.au sourced from ASIC from 1 July 2024 to 30 June 2025. Full table can be accessed at Life Insurance claims comparison tool: moneysmart.gov.au. The payout of claims may be impacted by factors such as the cause of death. Past performance is not necessarily indicative of future results and actual events or performance may differ materially. It is not guaranteed that NobleOak will accept all Life cover claims.
~This offer and these Terms and Conditions are issued by Noble Oak Life Limited (ABN 85 087 648 708) (NobleOak). The promoter of the Offer is nib Life Pty Limited (ABN 91 003 037 625). The two months free offer applies to any quote for an nib Life Insurance cover that is issued to a customer by 7pm AEDT on 31 March 2026, that results in the issue of one or more covers pursuant to that quote (quotes are valid for 30 days and are indicative only). This offer is available once only per new customer. This offer is in addition to 10% discount on nib Life Insurance premiums offer available to eligible nib members. If you request a quote for one or more of the covers available under nib Life Insurance, issued by NobleOak before 7pm on 31 March 2026 and are issued with cover following the quote, you will not start paying your first instalment of the premiums until two months after the commencement date of the cover for each cover issued. This option is not available for annual premiums. If you wish to pay by an annual premium, your total premiums will be adjusted after deducting amounts for two months from the annual premium due, but the annual premium is payable immediately. Your final premium will be confirmed in writing prior to first payment. The terms of this offer may change at any time. This offer may be revoked at any time.
This means you’ll be asked questions about your health, occupation, lifestyle, income and recreational activities when you apply.
This upfront assessment allows NobleOak to tailor your cover and premium based on your individual circumstances and you may require special acceptance terms
This allows for greater certainty and fewer delays at claim time.
Member discount
Eligible nib members (Health, Travel or free members) who purchase nib Income Protection cover, issued by NobleOak, receive a 10% discount on their premiums covers each year. **
Straightforward claims process
NobleOak accepted 98.4% of Income Protection cover claims in the past financial year (above the industry average of 86.1%)***. If you make a claim, you’ll be assigned an Australian-based dedicated claims case consultant to support you through the process.
Australian-based team
NobleOak is located in Sydney and has been recognised for its award-winning customer service.
Backed by an award-winning insurer
NobleOak is an award-winning life insurer^, with a history of helping Australians and their families for over 145 years.
