Family Life Insurance FAQsFrequently Asked Questions

Real Family Life Cover is a life insurance policy that is flexible enough to include you, your partner and your dependant children aged 2–17 under the same policy.

With Real Family Life Cover, you can cover yourself and your partner under one policy, but have your own individual benefit amounts to suit your needs. You can also choose to add any dependant children aged 2–17 to your policy.

With Real Family Life Cover, you can cover your partner and your dependant children aged 2-17 under the same policy as yourself.

When we accept your application for Family Life Cover, you’re immediately covered for death and terminal illness from any cause except suicide or intentional self-injury within the first 13 months of the cover starting, increasing or being reinstated. Depending on your answers to the health and lifestyle questions there may be other exclusions applied to the Policy which you will be advised of at the time of your application.

Generally life insurance premiums are not tax deductible, and you or your beneficiaries 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. Therefore, we recommend you seek qualified professional advice to fully understand any tax implications.

All life insurance payments go to the Policyowner. 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 want to receive the benefit when you pass away by either calling us on 1300 307 297 (Monday to Friday between 8am and 8pm AEST) or by simply downloading our Beneficiary Form. Send your completed form to:

Real Insurance
PO Box 6728
Baulkham Hills NSW 2153

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

To help ensure that your life insurance benefit amount keeps up with increases in the cost of living, we automatically increase your benefit amount by 5% each year, on your policy anniversary, adjust your premium accordingly. We will write to tell you about this, and you can decline the increase if you wish.

We stop these automatic increases on the Policy Anniversary after you reach age 75.

Terminal Illness Cover lets you claim your full life insurance benefit in advance if you are diagnosed as being terminally ill (with 12 months or less to live). This benefit may help you get the best medical treatment available, put your personal affairs in order or fulfill other family needs.

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

As long as you pay your premiums on time, you can renew your Family Life Cover for life – guaranteed.

You can tailor the Benefit Amount to suit your needs and budget. The minimum benefit is $100,000, and you can select your chosen benefit in increments of $50,000, up to the maximum for your age bracket.

Here are the age ranges and maximum Benefit Amounts:

You’ll be protected for the full Benefit Amount you choose from the very first day your cover takes effect, subject to the Policy terms and conditions, and you can keep your full cover for life. The benefit will not decrease as you get older, or due to changes to your health.

Life is unpredictable — we never know what lies around the corner. If you wait to get life insurance until your health starts to fail, you’re likely to find it expensive and hard to get. Also by getting life insurance early, you can make sure your loved ones are left financially secure if you unexpectedly pass away.

Once your Family Life Cover is in place, you can keep it for life, and we guarantee to renew your Policy, as long as you continue to pay your premiums, even if your health, occupation or pastimes change.

Many of our customers are surprised at the affordability of this important cover. 

Request a Quote and see for yourself how affordable Family Life Cover can be for you, or call us on 1300 377 325 to find out more.

Family Life Cover is designed to help fill the financial gap you could leave behind if you were no longer around to provide for your family. If you die, Family Life Cover pays a cash benefit to your loved ones so that they can continue to pay the mortgage or rent, loans, school fees and day to day living expenses.

Even if you already have life insurance (for example, through your superannuation), Family Life Cover can help boost your cover levels too, so your family is not left short.

Family Life Cover isn’t just for the main breadwinner. The loss of a partner who takes care of the home and children would mean an increase in expenses for things like childcare, transportation and housekeeping. That’s why we offer the joint plan — so you can protect each other for greater peace of mind.

You can extend your Family Life Cover to give you greater peace of mind. Optional covers include Children’s Insurance, Total & Permanent Disability Insurance and Serious Illness Insurance.

If you cancel your cover within the first 30 days of it starting and you haven’t made a claim during this time, we’ll give you a full refund of any premiums you have paid.

Because Family Life Cover is not a savings or investment plan, if you cancel your cover after 30 days, you won’t get anything back. However, if you have chosen a yearly payment option, we’ll refund the unused portion of your premium.

Real Family Life Cover is a stepped premium policy which means that it will generally increase each year as you age. To learn more about how premiums are structured, read the Key Fact Sheet.

Family Life Cover 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. The life insurance business of Hannover has been operating in the Australian market since 1994, has a Standard and Poor’s Insurer Financial Strength of AA- (Very Strong) and as at 31 December 2019 had total annual in force premium of AU$1.7 billion.

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

Simply email us at info@reallifecover.com.au or call one of our Customer Service Specialists on 1300 377 325.