Brought to you by NobleOak, Australia's most awarded Direct Life Insurer of 2024†
RAC My Protection Plan is fully underwritten, which means we ask more questions upfront when you apply for cover. This makes the process easier for your loved ones at claim time.
See some of the key features and benefits
Australian residents between the ages of 16 - 69 can apply for up to $25 million in life insurance cover. If you are between the ages of 70 - 74, you can apply for up to $500,000 in life cover.
74 years
To 99 years
Any questions
Call us on 1300 342 194 Monday to Thursday 6am to 6pm or Fridays 6am to 4pm. Or you can email sales@raclifeinsurance.nobleoak.com.au
If you die while covered for life insurance, the agreed cover amount will be paid as a lump sum to your nominated beneficiaries or estate. You can apply for cover up to $25 million.
Your beneficiary or estate will be advanced $30,000 (taken from your cover amount) to assist with funeral expenses, upon evidence of age and receipt of the death certificate.
We pay the death benefit amount if you become terminally ill (it's paid in advance, so it is not payable when you die).
You can be reimbursed the cost of engaging a qualified financial adviser up to $5,000 to prepare a financial plan if a benefit is paid in excess of $200,000 for death or terminal illness. If your Sum Insured is more than $1 million and your insurance has been in place for at least 2 years, the upper limit on this benefit is increased to $10,000.
The cost of grief counselling services for you, your spouse or your partner, can be paid up to $2,000 if a benefit is paid for death or terminal illness.
Provides support for your family through a benefits package, which may include assistance with travel, childcare, and housekeeping, subject to eligibility criteria. These benefits are in addition to the lump sum payment.
TPD cover and trauma cover are available as optional covers together with your life insurance cover (trauma cover is also available as standalone cover). You can select these covers in the quote process.
Depending on the cover type(s) you choose, and if you meet the conditions of cover, you would be eligible to claim if you were to pass away (life cover), could not work again due to a sickness or injury (TPD cover which provides a lump sum payment), were unable to work due to sickness or injury (income protection cover which provided a monthly payment for your chosen benefit period, whilst you are unable to work) or were diagnosed with a serious medical condition listed in the PDS (trauma cover).
You can choose:
RAC Life Insurance is a fully-underwritten life insurance product. That means the insurer asks you about your health and lifestyle at the start, not when you make a claim. As long as you correctly disclose the information requested when you apply, you can be confident that a future claim will be paid as outlined in the Product Disclosure Statement.
NobleOak Life Limited (NobleOak), an award winning life insurer, is the issuer of RAC Life Insurance. They are 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).
RAC Life Insurance is reinsured through an arrangement NobleOak has with Hannover Life Re of Australasia Ltd.
NobleOak is also a member of the Financial Services Council of Australia (FSC) and a signatory to the FSC Code of Practice for Life Insurers.
Life cover will allow you to help protect your family against financial hardship with a lump sum benefit if you were to pass away or are diagnosed with a terminal illness that is likely to result in death within a period of 24 months.
If you are aged between 16 and 74 years you can apply for up to $25 million in Life cover. Cover can remain in place to age 99.
Generally, people take a look at their current and future financial situation – such as the size of their mortgage, any other large debts, and future living costs – in arriving at a Life cover amount that may be suitable.
In the event of the insured person’s death, with RAC Life Insurance, an advance payment of $30,000 will also be available from the Life cover amount that you have secured to assist with funeral expenses. This can help to lessen the financial stress at a very emotional time so your family focus on their grief without the added worry of budgeting for the costs associated with a funeral.
As an option, you also can add Total Permanent Disability (TPD) cover or Trauma Insurance within your Life Cover. If you add TPD cover to your Life cover then any approved claim for a TPD event will reduce your Life cover by the amount of the TPD cover payment.
Similarly, if you add Trauma cover to your Life cover, then any approved claim for a Trauma event will reduce the Life cover by the amount of the Trauma cover payment.
Determining the level of cover you need for the cover type(s) you select depends on your personal circumstances and financial position.
You may wish to consider the stage of life you are in, your level of debt, and other ongoing financial commitments, before taking out cover.
Your cover will start once it is accepted by the RAC Life Insurance team and communicated to you in writing. Until then, we may ask for more information to fully assess your application. Your duty to disclose any relevant information continues right up the point we accept your application.
When your insurance cover begins, you will be issued with an acceptance letter outlining the full details of your insurance. Please keep your letter together with the PDS for future reference.
You will also receive an annual advice confirming your insurance details, including your insured benefits and premium payable.
Interim Accidental Cover is provided to you while your application is under assessment;
Subject to the eligibility and terms referenced in the PDS, these benefits are provided at no extra cost to you.
Making a claim can be a difficult and emotional time. We aim to make the process as straightforward as possible.
Visit our our claims page for instructions to claim with either AIA or NobleOak.
New RAC Life Insurance policies are no longer available through our former arrangement with AIA Australia.
If you hold an existing RAC Life Insurance policy issued through AIA Australia there’s no change to your cover. If you would like to contact a service or claim representative, please see the details below.
RAC Life insurance, TPD insurance, and Income protection insurance issued by NobleOak, can all be included in an SMSF. Please note though that 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.
RAC Life Insurance offers high levels of cover. You can apply for up to $25 million cover of Life Cover and up to $5 million of Total and Permanent Disability (TPD) cover, without having to go through a financial adviser.
Please call us on 1300 342 194 to arrange cover.
There are a number of potential benefits to holding life insurance in an SMSF, including increased personal cash flow and the effective tax deductibility of the insurance premiums to the Trustee of the superfund. Because superannuation is a complex area which changes from time to time, we suggest you obtain tax or accounting advice when considering your taxation affairs.
Because your insurance premiums are paid for by your SMSF, you no longer have to come up with the additional money from some other source. This can be useful for anyone who needs to maintain their after-tax cash flow, but still understands the importance of personal risk insurance. Premiums are paid from the fund instead of out of your own pocket.
Your SMSF may also be able to claim a tax deduction on the premiums.
In addition, you have the flexibility to move your insurance out of your SMSF without cancelling your plan should you decide to do so (and assuming the SMSF trustee permits this). This could be beneficial if your health deteriorates, your SMSF members’ requirements changes, or you no longer want to pay premiums out of your SMSF funds.
Before you decide, please read the PDS issued by NobleOak on the Policy documents page.
Support for family violence, financial hardship, accessibility and specialist services.
The RAC Life Insurance suite of products (RAC Life Insurance) is distributed and issued by NobleOak Life Limited, AFSL 247302 (NOL). NOL and its representatives handle all claims. RAC Insurance Pty Ltd does not distribute, issue or guarantee these products. The information on this website is factual information only, and is not financial advice. You should consider factors like your objectives, financial situation and needs and read the relevant Product Disclosure Statement (PDS) and Target Market Determination (TMD) available via this website as well as our Financial Services Guide before deciding to acquire RAC Life Insurance.
You should not cancel any existing life insurance policy until you have been informed in writing that your replacement cover is in place.
RAC Insurance Pty Ltd receives a commission from NobleOak for RAC My Protection Plan Life Insurance policies.
†NobleOak Awards please see here.
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