Real Life Insurance Q&A

Real Life Insurance is a life insurance policy that is flexible enough to include you and your dependants aged 2-17 on the same policy.

With Real Life Insurance, you can cover you and your dependent children aged 2-17 under the same policy as yourself.

When we accept an application for Real Life Insurance, you’re covered for terminal illness and death 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 or by simply downloading our Nomination of Beneficiaries Form. Send your completed form to:

Real Insurance
Customer Support
PO Box 6728
Baulkham Hills NSW 2153
(no stamp required)

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

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 Real Life Insurance 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 once the maximum benefit limit is reached or on the Policy Anniversary after you reach age 75.

The terminal illness benefit lets you claim your full life insurance benefit in advance if you are diagnosed as being terminally ill (with 24 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 aged between 18 and 74 are eligible to apply for Real Life Insurance. There are no medical or blood tests needed to apply. 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 Real Life Insurance policy for life, depending on your underwriting outcome. Some optional covers may expire.

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 cover for life, depending on your underwriting outcome. Some optional covers may expire. 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 may find it expensive and hard to get. Also, by getting life insurance early, you can cover your loved ones financially for if you unexpectedly pass away.

Once your Real Life Insurance is in place, you can keep it for life, depending on your underwriting outcome, as long as you continue to pay your premiums, even if your health, occupation or pastimes change.

Request a Quote and see for yourself how much Real Life Insurance may be for you, or call us on 1300 377 325 to find out more.

Real Life Insurance 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 pass away, Real Life Insurance 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), Real Life Insurance can help boost your cover levels too, so your family is not left short.

Real Life Insurance isn’t just for the main breadwinner. The loss of a partner who takes care of the home and children could mean an increase in expenses for things like childcare, transportation and housekeeping. You both can apply for cover - so each other can be protected for greater peace of mind.

You can apply to extend your Real Life Insurance 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 Real Life Insurance 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 Life Insurance 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 PDS.

Real Life 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. 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 2023 had total annual in force premium of AU$2.0 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.