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FlexiCover Life insurance

Issued by NobleOak Life Limited
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FlexiCover Life insurance


Life Insurance that can adjust as your financial commitments change.

You can choose a level of cover to suit your requirements taking into account any loan commitments you have and to protect your family’s lifestyle.

How does Flexicover Life Insurance work?

FlexiCover is issued by NobleOak Life Limited.

  • FlexiCover is a Life Insurance product which allows you to choose to activate its reducing cover feature to reduce^ your cover each year - for example, as your financial commitments reduce over time. When you do this, your premium adjusts accordingly to help make your Life Insurance more affordable.
  • In the event of a claim, you or your beneficiary (depending on which cover types you select) would receive a lump sum payment^^ which could be used in any way you see fit, including for example to help to clear the balance of your loan or any other financial commitments.
  • FlexiCover claim proceeds are paid to you or your beneficiary – they are not tied to your financial commitments and the cover remains in place regardless of whether you change your lending arrangements.

FlexiCover also includes

First month free – Qudos Bank customers receive the first month of cover free*

Fully underwritten cover – this means you will have more certainty in the event of a claim

This page contains factual information only – it is not a recommendation or general financial advice. View the Digital Information Brochure and NobleOak's product disclosure statement (PDS) for FlexiCover Life Insurance. The Target Market Determination for NobleOak's FlexiCover insurance is available at www.nobleoak.com.au/target-market-determination.

Cover Types

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Life Insurance

Life Insurance pays a lump sum to your nominated beneficiary upon death, advance payment if you are diagnosed with a terminal illness and advance payment (of $15,000) to assist with funeral expenses.

✓ Apply for up to a maximum of $25m cover
✓ Terminal illness benefit
✓ $15,000 funeral advance benefit~ (from your Life cover amount)

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Income Protection

Income protection provides financial support for yourself and your family if injury or illness prevents you from working.

✓ Up to $30,000 monthly benefit depending on your income, for the first 2 years you remain on claim
✓ Benefit period: 2 years, 5 years or to age 65
✓ Waiting period: 30 or 90 days

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Total and Permanent Disablement Insurance

Help protect yourself and your family from financial stress with a lump sum payment if you’re permanently disabled from a sickness or injury and unable to work again.

✓ Apply for up to a maximum of $5m cover

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Trauma Insurance

Help pay for treatment expenses and lifestyle adjustments with a lump sum payment if diagnosed with a covered critical illness. Includes cover for 37 critical medical conditions listed in the PDS.

✓ Apply for up to a maximum of $2m cover

The above tables are a summary of some features only – please see the PDS for full product details.

We’re partnering with an award-winning insurer who issues FlexiCover – NobleOak Life, Australia’s most awarded Direct Life Insurer of 2020.**

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Get a quick quote from NobleOak

Call the NobleOak FlexiCover team on 1300 108 490 and mention 'Qudos Bank’

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Important Information

This is factual information only (it is not general or personal financial advice).

FlexiCover is issued by NobleOak Life Limited ABN 85 087 648 708 AFSL No. 247302 (‘NobleOak’). Qudos Mutual Limited trading as Qudos Bank ABN 53 087 650 55 AFSL/Australian Credit Licence 238 305 (‘Qudos Bank’) is not responsible for the FlexiCover product. Qudos Bank promotes the FlexiCover product under a marketing arrangement with NobleOak but does not provide any financial advice regarding the product. NobleOak Services Limited (wholly-owned by NobleOak) pays Qudos Bank an ongoing commission of 16.5% of premium when products are acquired as a result of the marketing arrangement. This commission is at no additional cost to customers. Further information can be found in the NobleOak Financial Services Guide (FSG) available at www.nobleoak.com.au and in the Qudos Bank Financial Services Guide (FSG) available at www.qudosbank.com.au.

*First month free offer - if you apply for cover and cover is issued you will not start paying premiums until one month after the commencement date of the cover. This offer is available once only per new customer and may not be used in conjunction with any other offer.

**NobleOak awards information found at https://www.nobleoak.com.au/award-winning-life-insurance/

^With FlexiCover, Life, TPD, Income Protection and Trauma insurance covers are available. You can choose for FlexiCover’s annual Decreasing Cover Adjustment Feature to apply to your Life, TPD or Trauma cover amounts. It means your cover amount will reduce each year within a range of 0% to 10% as selected by you.

^^The FlexiCover suite of life insurance products includes income protection cover as an available cover – as described in the product Disclosure Statement, this pays a monthly benefit (rather than a lump sum) if you are unable to continue working due to illness or injury.

Cover is available to Australian residents and is subject to acceptance of the application and the terms and conditions set out in the FlexiCover Product Disclosure Statement (PDS). This information is of a general nature only and does not take into consideration your individual circumstances, objectives, financial situation or needs. Before you purchase an Insurance product, you should carefully consider the PDS to decide if it is right for you. The PDS is available by calling NobleOak on 1300 108 490 or from www.flexicoverlife.com.au/qudos. The Target Market Determination for NobleOak's FlexiCover Insurance is available at www.nobleoak.com.au/target-market-determination. Clients should not cancel any existing Life Insurance policy until they have been informed in writing that their replacement cover is in place. NobleOak cannot provide you with personal advice, but our staff may provide general information about NobleOak Life Insurance. By supplying your contact details, you are consenting to be contacted by NobleOak, in accordance with NobleOak’s Privacy Policy.