Real Life Cover for SMSF

Real Life Cover for SMSF is a smart, flexible life insurance product that is specifically designed for the unique conditions of the Australian Self-Managed Super Fund market.

If you’d like to join the growing number of Australians who are taking advantage of paying for their life insurance through their Self-Managed Super Fund, Real Life Cover for SMSF could be the product for you.

What’s covered?

When you commence your policy, you’ll immediately be covered if you were to pass away or be diagnosed with a Terminal Illness.

Some of the benefits of Life Cover for SMSF include:

  • Up to $2 million in cover (depending on your age)
  • 100% of the benefit is paid in advance if you’re diagnosed with a Terminal Illness (with less than 24 months to live)
  • No medical or blood tests required to apply
  • Free interim Accidental Death cover for up to 30 days if we need extra time to assess your application
  • Total & Permanent Disability insurance available, as an optional extra

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

Features & Benefits

  • Pay your life insurance premiums from your SMSF (instead of your post-tax income)
  • Apply over the phone with a single phone call
  • Continuous cover for life, as long as your premiums are paid, and you remain a member of your SMSF1
  • Contributions to your fund can be tax deductible2
  • Your policy is backed by the third largest reinsurer in the world
  • We pride ourselves on providing award winning service for our customers
  • You will be assigned your own claims specialist, located in Australia, for a stress-free claim experience

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

See how easy it is to apply for cover

Understanding Real Life Cover for SMSF

Real Life Cover for SMSF allows you to use your SMSF to pay your life insurance policy3. It’s a simple and cost-effective way to help provide for your dependants if something unforeseen happened and you were no longer able to.

Any Australian resident between the ages of 18 and 64 who is a member of a Self-Managed Super Fund can apply for Real Life Cover for SMSF.

We know that choosing the right cover to meet your specific needs can often be confusing. That’s why at Real Insurance we want to make the process as easy for you as we can.

Simply request a quote online, or give us a call on 1300 030 714 to speak with one of our friendly life insurance team members. We’re more than happy to answer any questions you might have and assist with your application.

You also have the option to request a call back and one of our Customer Service Specialists will give you a call.

Other Commonly Asked Questions

What is a Self-Managed Super Fund?

A Self-Managed Super Fund (SMSF) is a private superannuation fund that members can manage themselves, giving them control over how their super is invested. SMSFs can have between one and six members.

What is life insurance for SMSF?

Life insurance for SMSF is a lot like any other life insurance product, but the policy is owned by the fund instead of an individual. While there are obvious similarities between life insurance for SMSF and everyday life insurance, there are a few key differences that you should familiarise yourself with before taking out cover.

Can I pay for life insurance through my SMSF?

Yes, for the SMSF to pay your life insurance premiums they must be the legal owner of the policy. And while premium payments could be tax free, they will come directly out of the fund, eroding the balance over time.

What are some of the things to be aware of when buying life insurance through your SMSF?

There are a few important things to be aware of, when choosing the cover that is right for you. Life insurance through super may have general exclusions, and insurance premiums are paid from the fund which means that they can affect your retirement balance. Tax may also be payable on Life and TPD benefits under super. As well as this, life insurance through SMSF typically only covers core benefits, with ancillary benefits such as advance funeral payments being unavailable. Take these factors into account when selecting the best option for your needs.

Do all super funds have life insurance?

Life insurance is often included when you start a new industry or retail super fund, with premiums being deducted directly from the balance. To make sure you have an adequate amount of cover, contact your fund.

When can I make a claim?

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

How do I make a claim?

Step 1

You or another trustee of your fund 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 completed 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, your payment will be made to the fund without delay. In some cases, your claim will need to be further assessed, and you may need to provide additional information from your medical practitioner. Your Australian based, dedicated claims specialist will help guide you through the process.

How are the payments made?

A cheque will be drawn payable to the ‘trustee’ of your fund.

Ready to Get Covered?

Call us 1300 030 714
Request a Quick Quote

  1. Applies for death cover only.
  2. Check with your financial advisor.
  3. Premiums paid will reduce your retirement savings.