SUPPLIER SPOTLIGHT
COVER YOU CAN
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NobleOak’ s life insurance offers value and peace of mind.
BY KIM GILLAN
EVERST / STOCK. ADOBE. COM
Of all the gifts we buy in our lifetimes, life insurance has to be one of the most thoughtful. After all, it’ s not something we will directly benefit from, but it ensures that our family is provided for if something happens to us.
“ People are becoming more aware that life insurance is a really important building block to their wealth and their future,” explains Anthony Brown, CEO of NobleOak.“ Managing our finances is not just about building wealth and investments but protecting it. You don’ t personally get the direct benefit from life insurance – it goes to your family. And the good news is, it’ s more affordable to get good quality life insurance than most people think.”
Comparing insurance companies can be a laborious task, so it’ s reassuring to know that Costco has done the hard work, choosing NobleOak as the provider-ofchoice, and securing Costco members a special 10 percent lifetime discount on NobleOak Life cover; plus, Executive Members will get a $ 100 Costco Shop Card when they sign up *.
“ NobleOak’ s commitment to maintaining low premiums without compromising service or coverage is one of the main reasons we chose them,” says Andrea Macquarie, Costco assistant buyer for membership and services.“ Their cover options, spanning life insurance, income protection, TPD insurance and trauma insurance, ensures comprehensive coverage for individuals at every life stage.”
A caring tradition
NobleOak traces its roots back to the Druids, one of the first benevolent societies in Australia, whose members contributed a weekly amount to a communal fund to help families if a member got seriously injured or died. Now, over 145 years later, that philanthropic mentality underpins everything NobleOak does.
“ We see ourselves as the modernisation of those principles of the Druids,” Brown says.“ Putting the member first is a fundamental part of our business.”
NobleOak is Australia’ s most awarded direct life insurer and has held this title for five consecutive years – from 2019 to 2023.
“ As an Australian-owned, direct life insurance company and we’ ve kept our costs low, so our premiums are more competitive,” Brown explains.“ We don’ t enjoy offices with views of the Harbour Bridge and we don’ t have lots of other products or spend a fortune on sponsorships – so we’ re able to manage our costs tightly, allowing us to offer wellpriced premiums that are more than 24 percent lower than the average of our direct life insurance competitors.”
A direct benefit
Many Australians pay for life insurance through their superannuation, but Brown points out that buying it directly can be a wise financial move.
“ The disadvantage of using your super is that it eats up your retirement savings,” Brown says.“ And when it comes to claiming, it can be more difficult to access money from a super fund structure than if you owned the policy directly and have a direct beneficiary.”
14 | MAR / APR 2024 COSTCO CONNECTION