Real Funeral Insurance Q&A

Real Funeral Insurance pays a benefit to the people you choose (your beneficiaries) when you die. It’s designed to help your loved ones pay for funeral costs as well as any other bills you may leave behind – so they can say goodbye without added financial stress.

Real Funeral Insurance differs to other types of funeral planning, such as a pre-paid funeral plan, as it pays a full benefit upon death (accidental death only for the first 12 months; and death due to any cause thereafter) regardless of how much has been paid in premiums.

Life is unpredictable – we never know what lies around the corner. If you pass away unexpectedly, funeral insurance such as this product helps ensure your loved ones can be assisted with the cost of your funeral and any bills you leave behind.

Your premiums are level which means they are designed to not increase every year. Plus, when you turn 85, your cover continues (until you celebrate your 100th birthday) at no further cost to you!

Request a quote.

Premiums for new Real Funeral Insurance policies currently available are designed to stay consistent year on year. Your premiums will only change if you apply to change your cover, or we change the premium rates for your policy. To learn more about how premiums are structured, read the Product Disclosure Statement.

If you have an active funeral insurance policy, the premium structure that applies to your policy will depend on the type of cover you have purchased. Please refer to your Product Disclosure Statement.

It is possible that you will pay more in total premiums than the value of the cover, depending on how long you hold cover for. Also, if you choose the early cash out option, you’ll no longer be eligible to claim as this option will cancel your policy and you may receive less than you’ve paid in premiums to date.

If you are an Australian resident aged between 40 and 79 we guarantee to accept you for Real Funeral Insurance.

No, and there are no intrusive questions about your health and lifestyle.

As long as you pay your premium on time and don’t cancel your policy, we will continue to renew your Real Funeral Insurance policy until you turn 100 years old – even if your health or lifestyle changes.

You can select the amount of funeral insurance that suits your needs and budget, from $3,000 up to $15,000.

With Real Funeral Insurance, you’re automatically covered for accidental serious injury and accidental death in the first 12 months and death due to any cause thereafter. This means if you suffer an accidental serious injury or accidental death (as outlined in the PDS), you or your loved ones receive a cash benefit. After holding your policy for one year, we pay 100% of your chosen funeral benefit amount if you pass away or are diagnosed with a terminal illness, with less than 12 months to live. Plus, if you choose to add optional Accidental Death Insurance to your funeral insurance policy, we double your payout, up to $30,000, until your policy anniversary following your 75^th birthday, if death is due to an accident.

• Cover is only for accidental death and accidental serious injury in the first 12 months.
• Accidental serious injury and optional Accidental Death Insurance expire on the policy anniversary following your 75th birthday.
• Terminal illness diagnosis with 12 months or less to live.
• There’s no refund of premiums after the cooling off period. The total amount of premiums payable over the life of the policy has the potential to exceed the cover amount.
• If you choose the early cash out option, you will no longer be eligible to claim as this option will cancel your policy and you may receive less than you’ve paid in premiums to date.
• This is a summary of the Real Funeral Insurance policy. For full details, download our Product Disclosure Statement.

Provided you are an Australian citizen or permanent resident living in Australia and have no plans to relocate outside of Australia at the time of application, once your application is accepted you’re covered anywhere in the world 24/7 while your policy is in force. However, if you’re on a temporary work visa and cease to reside in Australia, the policy will be cancelled.

'Accident’ means an event resulting in bodily injury occurring while the Life Insured is covered under this policy, where the injury is directly caused by an unintentional accidental, violent, external and visible means where the injury is not self-inflicted.

An Accident due to or directly contributed to by the following is excluded:

• intoxication by or being under the influence of any drugs or controlled substance, including but not limited to prescribed medications, marijuana and hashish (as defined in the state where the Accident occurred); unless administered on the advice of a Medical Practitioner and taken as prescribed by such Medical Practitioner.
• for motor vehicle accidents, being under the influence of alcohol or having a blood alcohol level at or above the legal limit at which it is unlawful to operate a motor vehicle or motorised device (as defined in the state where the ‘Accident’ occurred).

‘Accidental Death’ means a Life Insured dies as the direct result of an Accident, where either:

• death occurs within 30 days of the Accident; or
• life support measures are first initiated within 30 days of the Accident, and death occurs within 14 days after those life support measures are ceased;
  and where death occurs while the Life Insured is covered under this policy.

Yes. Real Funeral Insurance has been designed to be family friendly. You can choose to cover your life (single plan), or cover yourself and your spouse or partner (joint plan).

Yes, you can nominate who will receive your chosen benefit. If you do not nominate a beneficiary, then your Real Funeral Insurance benefit will go to the policyowner. If that’s you, we pay the benefit to your legal personal representative (usually your estate) or other person who we are permitted to pay under the Life Insurance Act 1995.

You can nominate up to five people to share the benefit by simply downloading and completing our Beneficiary Form. Send your completed form to:

Real Insurance
Customer Support
Reply Paid 6728
Baulkham Hills, NSW 2153

Or email to: service@reallifecover.com.au
You can also complete the form electronically via the DocuSign website.

You have a 30 day cooling off period to ensure your Real Funeral Insurance policy is right for you. As long as you haven’t made a claim within the first 30 days of your policy starting, we’ll give you a full refund of any premiums you have paid.

Because your Real Funeral Insurance is not a savings or investment plan, if you or we cancel your cover after the 30 day cooling off period, cover ends and no benefit is payable and there are no premium refunds. However, if you have chosen a yearly payment option, we’ll refund the unused portion of your premium.

Generally, funeral insurance (including Real Funeral Insurance) premiums are not tax deductible, and you aren’t required to pay tax on any benefits we pay. However, you should be aware that this may change, and may not apply to your individual circumstances. You should seek qualified professional advice to fully understand any tax implications.

Real Funeral Insurance is issued by:

Hannover Life Re of Australasia Ltd (Hannover)
ABN 37 062 395 484
Tower 1, Level 33
100 Barangaroo Avenue
Sydney NSW 2000

Hannover is a wholly owned subsidiary of Hannover Re and is part of the Hannover Re Group worldwide. Hannover Re is currently the third-largest global life reinsurer and has a Standard and Poor’s Insurer Financial Strength of AA- (Very Strong), and has maintained this rating for a number of years.

The life insurance business of Hannover has been operating in Australia since 1958, so you know you’re backed by a company you can trust.

Find out what information you will need to provide for a quote with our Funeral Insurance Quote Guide.

With Real Funeral Insurance, when you turn 85 you can choose to;

• Cancel your policy and cash out 75% of your benefit amount, or
• Keep your policy in place at no extra cost to you. And if you pass away, or celebrate your 100th birthday, you or your family will receive bonus cover of 25% added to the benefit amount.¹

Simply email us at info@reallifecover.com.au or call one of our Customer Service Specialists on 1300 665 287.