General Life Insurance FAQsFrequently Asked Questions

Life insurance provides a lump-sum cash payment (the benefit amount) to the person you wish to receive your benefit (normally referred to as a nominated beneficiary or paid into the estate) in the event of your death, or to you in the event you suffer a terminal illness.

Yes, you can include your children under the policy with optional Children’s Insurance. If other family members, such as your spouse, partner, or de facto partner would like to be covered, they will need to apply for their own policy.

You can apply for life insurance if you have been diagnosed with cancer, however there are exclusions and in certain instances you may not be approved. Please review the PDS or speak to a Real Insurance team member for more information.

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.

Direct life insurance is often purchased by people who know what they’re looking for, want a quick and easy process, and are comfortable setting up the policy themselves with the insurer.

Life insurance is not only designed to cover debts, but it provides a lump sum cash benefit to your nominated beneficiaries, and they can spend the money as they wish. Life insurance can also offer optional cover 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 to get a quote.

With direct life insurance, people can apply for cover over the phone without going through a lengthy doctor’s examination or an uncomfortable blood test. With Real Life Insurance, there's no medical or blood test needed to apply, since we ask a series of underwriting questions over the phone, which provides important information that enables your application to be assessed.

In the event you are diagnosed with a terminal illness, your life insurance benefit will be paid to you as a lump sum. If you pass away, the benefit will be paid to your nominated beneficiary.

Life insurance policies cannot be cashed in and will not contain a savings or investment component.

If you’re single, you may think you can put off life insurance until later in life, but financial security is an important consideration for everyone. By taking out cover now, you can protect your financial future in case the very worst happens. Life insurance can help by paying a lump sum to your parents, siblings or other loved ones, if you pass away. This money can help take care of any debts you leave behind, such as a car repayment, HECS debts, credit cards or even a mortgage. It can also help you maintain your quality of life if you’re diagnosed with a terminal illness with 24 months or less to live, by paying your benefit amount to you as a lump sum.

With Real Life Insurance, your policy is guaranteed renewable. If the benefit amount is paid out, your policy will end.

If you pass away, your family may get a 20% advance funeral payout, up to a maximum of $20,000, to assist with the immediate costs of your funeral, while we assess your claim. Life insurance is intended to be used for ongoing expenses your family may incur such as mortgage payments, school fees and bills. However, once your claim is processed and the benefit is paid to your beneficiary, they can use the payout however they wish.

You can apply for Real Life Insurance up to the age of 74 and once covered, your policy will be renewed, as long as you pay your premiums on time. For optional Serious Illness Insurance and Total & Permanent Disability Insurance, you can apply up to the age of 59 and cover can remain in place until the policy anniversary following your 65th birthday.

Factors including your age, gender, current health, medical history, lifestyle, cover amount and optional cover - all contribute to the cost of cover. Call the Real Insurance team on 1300 377 325 for a quote based on your individual circumstances.

While not compulsory, if you have any dependants who rely on you to provide for them financially, then you may want to consider life insurance. If you’re still paying off a mortgage on your home, then a life insurance payout from your partner could come in handy with mortgage repayments. It can help your maintain the quality of life you have provided for them.

Every person's and family's situation is different, however you may want to consider how many financial dependants you have. You should also factor in any outstanding debts (including mortgage), as well as any ongoing expenses, when determining the level of cover you’ll need. Use our life insurance calculator to find out how much cover you may want to consider.

When you set up a life insurance policy with us, you can nominate up to five beneficiaries to receive a percentage of your chosen benefit amount. The beneficiaries are paid their percentage when you pass away. If you wish, they can be family members.