Real Life Insurance

How would your family cope if you were to fall seriously ill or, even worse, pass away? Most Australians insure major items such as their home, car or health, but what about the most precious asset: your own life?

What’s covered?

When you commence your insurance policy, you, your spouse, partner, or de facto1 named within the policy are immediately covered for death and terminal illness.2 Not only that, but:

  • Free interim Accidental Death cover for up to 30 days if we need extra time to assess your application
  • We will pay 100% of your Benefit Amount in advance if you’re diagnosed with a Terminal Illness (with less than 12 months to live)
  • A $10,000 advance funeral benefit to your family to assist with the immediate costs of a funeral while we’re assessing your claim
  • We have optional covers including Children’s Insurance, Serious Illness Insurance, and Total & Permanent Disability

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This is a summary of the Real Family Life Cover Policy. For full details, read our Product Disclosure Statement.

Features & Benefits

  • Apply over the phone with a single call
  • No medicals or blood tests required
  • Continuous cover for life, as long as you pay your premiums when due (some optional covers may expire)3
  • Pay your premium fortnightly or monthly at no extra cost
  • Choose your own level of cover
  • Choose a different level of cover for your spouse, partner, or de facto
  • Choose from a range of optional covers for increased protection
  • You’ll get back 10% of the premiums you have paid in the first 12 months with The Real Reward
  • You will be assigned your own claims specialist, located in Australia, for a stress-free claim experience
  • Your policy is backed by the third-largest reinsurer in the world

Life Insurance Code of Practice

Life Insurance Code of Practice

To make sure you receive the highest standard of service when taking out cover, we comply with the Life Insurance Code of Practice. Read more

Add Optional Cover

Total & Permanent Disability Insurance

  • Choose a Benefit Amount between $50,000 and $1 million (depending on your age)
  • Pays your cover amount in full if you become permanently disabled or can’t work due to a permanent illness or injury
  • Use the payout to cover costs of treatment, rehabilitation or for anything else you may need

Children’s Insurance

  • Cover your children between ages 2 and 17 years old
  • Choose a Benefit Amount from $20,000 up to $50,000 for each child insured
  • Covers a range of specified serious illnesses and injuries
  • Paid as a lump-sum if your child passes away
  • Use the Benefit Amount in any way you wish

Serious Illness Insurance

  • Available for Australian residents aged between 18 and 59 years
  • Choose a Benefit Amount from $50,000 up to a maximum of $500,000
  • Cover for some of the most common serious illnesses
  • Use the Benefit Amount in any way you wish

Cover Levels

With Real Life Insurance, you can choose the Benefit Amount that suits your needs, from $100,000 up to $1 million – in increments of $50,000. Once accepted, as long as you pay your premiums on time, we guarantee to renew your cover despite changes to your age, health and lifestyle.

Use the toggle below for the maximum cover amount, which is dependent upon your age.

Maximum Benefit
  • The maximum benefit for age range18 -to 44is $1,000,000
  • The maximum benefit for age range45 -to 54is $750,000
  • The maximum benefit for age range55 -to 59is $500,000
  • The maximum benefit for age range60 -to 64is $300,000
Select age group

See how easy it is to apply for cover

When You May Need Life Insurance

Financial security is important for everyone, regardless of age. See why life insurance is important at every stage in life and how Real Life Insurance can help protect your financial security.

  • Young & Single

    Young & Single

    You’re young and carefree with a life of adventure ahead of you. Make sure you’re covered for the unexpected.

  • Couples


    You’ve just bought your first home and taken out a mortgage. Don’t leave anything to chance.

  • Young Families

    Young Families

    You may be expecting your first – or your third child. Ensure your young family is protected.

  • Established Families

    Established Families

    Your family is maturing and life is settled, but the unexpected can still happen. Don’t wait until it’s too late.

  • Seniors


    Don’t find yourself worrying about the financial security of your loved ones. Consider how to protect their future as you sure up your retirement plan.

Understanding Life Insurance

Life Insurance is a product that covers the risk of life and provides a lump-sum cash payout to the person you wish to receive your benefit in the event you suffer a terminal illness or death. Read more

In Australia, there are currently three ways life insurance is distributed:

  1. Direct: Often referred to as the ‘DIY’ approach where you research and compare all the life insurance policies yourself.
  2. Financial Advisor/Broker: Also known as retail. You talk to someone who will do all the leg-work for you and find the policy that best suits your needs.
  3. Super: Also known as group, your superannuation fund may offer some level of cover. Read more

Should I consider life insurance when I already have it through my super?

Article - Should I consider Life Insurance

Instead of sending your yearly Super statement straight to the recycling bin, take time to read it and understand how much you and your family are protected if you became terminally ill or were to pass away. Did you know that 60% of Australian parents are concerned they don’t have sufficient life insurance cover for their needs.

Read full transcript

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Other Commonly Asked Questions

What if I already have cover in place?

It’s great you have cover, but it’s worth reviewing exactly how much cover you have and if it is enough to pay for everything your family may need. Life changes and your level of cover may need to as well.

Why buy life insurance direct from an insurer?

Direct Life Insurance is often purchased by customers who know what they’re looking for, want a quick and easy process and are comfortable setting up the policy themselves.

Can life insurance policies be cashed in?

No, in Australia life insurance polices cannot be cashed in. There is no savings or investment component to life insurance.

I don’t have any debts, do I need life insurance?

Life insurance is not only designed to cover specific debts, but it provides a lump sum cash benefit to your nominated beneficiaries and they can spend the money as they wish. Life Insurance also offers optional living benefits you can add to your policy, to protect against things like serious illnesses and total and permanent disability. Request a call for more information and quote.

Can I get life insurance without a medical?

With Direct Life Insurance, people can apply for cover over the phone without going through a lengthy doctor’s examination or uncomfortable blood tests. With Real Life Insurance, there are no medical tests required, since we ask a series of underwriting questions over the phone that cover important information that enables an assessment of your application.

Can I get life insurance if I have cancer?

It depends on the type of cancer you have had, the severity of your diagnosis and your treatment and medical history since diagnosis. The insurer will ask you a number of questions and, based on what you disclose, will determine whether they can insure you. It is very important that you disclose everything you know about your condition, as a failure to disclose accurately could affect the ability of your beneficiaries to claim. Please review the PDS for more information as exclusions apply.

Can I decide who will receive the benefit?

All life insurance payments go to the Policy owner. When the policy owner is also the life insured, we pay the benefit to their legal personal representative or other person who we are permitted to pay under the Life Insurance Act 1995.

You can nominate who you would like to receive the benefit when you pass away by simply downloading our Beneficiary Form. Please send your completed form to:

Real Insurance
PO Box 6728
Baulkham Hills NSW 2153

Am I covered while I’m overseas?

If you’re an Australian citizen or permanent resident living in Australia at the time you apply, you will be covered anywhere in the world by your Family Life Cover Policy, subject to underwriting.

How do I know if I am eligible for Real Life Insurance?

All Australian residents and their partners aged between 18 and 64 are eligible to apply for Real Life Insurance. Medical and blood tests are not required. We will simply ask you some health and lifestyle questions over the phone.

How long can I keep my cover?

As long as you pay your premiums on time, your policy is guaranteed to be renewed. Some of the optional covers will expire at certain ages and these are set out in the Product Disclosure Statement.

Will I get anything back if I cancel my cover?

If you cancel your cover within the first 30 days of the commencement date and you have not made a claim during this time, we will provide you with a full refund of any premiums you have paid. Family Life Cover is not a savings or investment plan, therefore if you cancel your cover after 30 days, you will not receive a premium refund. However, if you have chosen a yearly payment option, we will refund the unused portion of your premium.

What is Real Term Life Cover?

Real Term Life Cover is a type of fixed term insurance policy that expires after 20 years or when you turn 85 (whichever comes first). This can be a great way to make sure you and your loved ones are financially protected and could continue their current lifestyle should you pass away or suffer a terminal illness (after holding your policy for 12 months).

Request a quote for Real Term Life Cover.

How much Real Term Life Cover should I get?

With Real Term Life Cover, you can tailor the Benefit Amount to suit your needs. The minimum benefit is $10,000, and you can select your chosen benefit in increments of $5,000, up to the maximum of $100,000.

Is my Real Term Life Cover payout taxable?

It’s always best to seek the assistance of a tax expert for advice, however usually any personal life insurance benefits that you or your family receive aren’t counted as taxable income, and therefore will not be taxed. This means that any money you or your loved ones receive can be put towards your expenses or bills if you were to pass away or suffer a terminal illness.

Are my Real Term Life Cover premiums tax deductible?

Generally, life insurance premiums are not tax deductible. However, you should be aware that this may change, and may not apply to your individual circumstances. Therefore, we recommend you seek qualified professional advice to fully understand any tax implications.

Can I get money from my Real Term Life Cover policy?

Real Term Life Cover pays a Benefit Amount to your beneficiaries if you pass away or suffer a terminal illness during the cover period (terminal illness is subject to a 12-month waiting period). Your policy doesn’t have a cash value and cannot be redeemed for cash.

However, Real Term Life Cover comes with a guaranteed cash payout when your cover expires and the Life Insurance Benefit ends. This means:

  • Your protection continues for another 10 years with our Final Expenses Benefit. This benefit is equal to 20% of your Life Insurance Benefit and is at no additional cost to you
  • After this time (or if you pass away during this time) you or your family will receive your Final Expenses Benefit in full
  • Or for greater flexibility, at any time during this 10-year period, you can choose to cash out half of the Final Expenses Benefit and end your Policy

Note: If your cover ends prior to the expiry of your Life Insurance Benefit, you will not be eligible for the Final Expenses Benefit or the guaranteed cash payout.

How do I make a Real Term Life Cover claim?

With Real Insurance, you get your own Australia-based personal claims specialist, who will help if you or your family ever need to make a claim. All you need to do is follow the steps on the claims page to get started. You will usually be required to provide us with documentation, which will depend on the type of claim you are making, and your circumstances. Your claims specialist will guide you through this process.

When can I make a claim?

You can claim from the date of the insured’s death or diagnosis.

How do I make a claim?

Step 1

You or a nominated beneficiary (which could be your next of kin or the executor of your Will) can simply call us on 1300 307 297.


Email to let us know that you will be lodging a claim.

Step 2

A dedicated claims agent will be assigned to your claim, and will contact you to take you through the claims process.

Step 3

Complete all forms provided by your claims agent or simply download the most appropriate form below. Send the completed form(s) along with all required documentation to:

Real Insurance
Reply Paid 6728
Baulkham Hills NSW 2153

Step 4

Once completed documents are received, we’ll assess the claim and pay, subject to approval, without unnecessary delay.

How long does it take for a claim to be processed?

Once we receive all the documentation we have asked for, your claim will be submitted to Hannover (the insurer) to be assessed. We will call you as soon as there is an update or within 10 business days of receiving your forms and every 10 business days thereafter to keep you informed of how your claim is progressing.

If your claim is approved, payment will be made promptly. Sometimes assessment leads to a need to obtain additional information. This may require you to provide the necessary information or we may seek it directly from your medical practitioner. In either case, we consider any new information promptly and we may pay a $10,000 advance funeral payout while we assess the claim.

How are the payments made?

For nominated beneficiaries, the payment will be direct credited to their nominated bank account. If there is no nominated beneficiary, then a cheque will be drawn payable to the ‘Estate of the late’.

What is TPD insurance?

Total & Permanent Disability Insurance (TPD) provides a payout to you in the event that you become totally and permanently disabled as defined in the Product Disclosure Statement. The maximum age you can apply for cover is 59, and cover can remain in place until the policy anniversary following your 65th birthday.

Is a TPD payout taxable?

A TPD benefit pay-out is generally not taxed. However, it's always best to check with a tax professional.

Should I have my Total & Permanent Disability insurance inside or outside super?

Most super funds offer life insurance, but with generally only a minimum level of cover in the event of death or TPD. You should ensure this cover will be enough for your needs, should you need to claim.

I already have life insurance. Do I need TPD cover too?

Life insurance provides a lump-sum payout if you die or are diagnosed with a terminal illness. TPD provides a lump-sum payment if you can’t work because you are totally and permanently disabled.

Ready to get covered?

Call us 1300 377 325
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  1. If applicable - a joint policy can include your spouse, partner, de facto (Partner Life Insured)
  2. Excluding as a result of a self-inflicted injury in the first 13 months
  3. For death cover only