Real Income Protection Insurance

Get secure protection for your income with Real Income Protection Insurance.


Fact checked
Real Income Protection

We’re reader-supported and may be paid when you visit links to partner sites. We don’t compare all products in the market, but we’re working on it!

How would you manage if you were to suffer a disabling sickness or injury and were suddenly forced out of work for an extended period?

Real Income Protection Insurance can help ensure that you still receive an ongoing income (up to 75% of your regular income) to support you and your family, even if you are unable to work because of a disabling illness or injury. Furthermore, at the first anniversary of holding a policy, you can get a 10% refund on the total premiums you've paid in the first 12 months.

We don't currently have this brand on our panel. But you can head to or compare more income protection options with finder.

Compare income protection

A quick review of Real Income Protection Insurance

Maximum monthly income$10,000 (Up to 75% of your monthly income)
Age of entry18-59
How do I apply?Online with Real then over the phone to finalise cover

Information last checked on October 2020. Always consult the Product Disclosure Statement (PDS).

  • Underwriter has a strong financial rating
  • No 'level premium' option is offered
  • Additional benefits for rehabilitation and returning to work offered
  • No medical assessment (great if you are in good health)

Information last checked on October 2020. Always consult the Product Disclosure Statement (PDS).

This cover might be suitable if:

  • You're looking for quick and easy cover with no medical assessment.
  • Additional benefits for rehabilitation and returning to work

Apply carefully if:

  • You have pre-existing conditions - as you'll need to declare when you apply (and wait for assessment). Otherwise, they could be excluded at claim time.

Don't get this cover if:

  • You want your premiums to stay the same for life.

Information last checked on October 2020. Always consult the Product Disclosure Statement (PDS).

Note: The following is based on the Income Protection Hannover Life Re of Australasia Ltd. Hannover Life Re of Australasia Ltd is the insurer behind brands like Real Income Protection and a few others.

Claims dataGuardianIndustry Average
Average claim time (months)1.401.60
Claim disputes (per 100,000 lives insured)192.5218.6

We looked at APRA data for claims over 2017-2018. The statistics above reflect 'Income Protection' claims.

What are the key features and benefits of Real Income Protection Insurance?

Real Insurance will pay you up to 75% of your regular monthly income if you are unable to work because you are sick or injured. This means that you don’t have to worry about your finances and you don’t have to fall behind on your bills. Instead, you can relax and focus on your recovery, so that you are able to return to your normal work as soon as possible. Real Insurance can protect your income with:

  • A benefit of up to $10,000 per month. Real Insurance will pay a monthly benefit of 75% of your regular income (to a maximum of $10,000 per month). While you won’t continue receiving your regular salary, you could have money coming in to pay for the essential bills and keep your credit intact. You can also choose the benefit amount which suits you if you have a limited budget for your cover, and you can increase or decrease that cover amount at any time.
  • Tax deductible premiums. Not only are Real Income Protection Insurance premiums affordable but they are usually tax-deductible.
  • Customisable cover for your needs and budget. You can pay your premiums fortnightly, monthly or annually and there is no cost attached to this choice. Plus, you can choose your benefit period and waiting period to suit your budget and cover needs.
  • The Real Reward. Once you have held your policy for 12 months, you will receive a 10% refund on the premiums you have paid in that time.
  • Coverage for part-time work. You can also apply for a Real Income Protection Insurance policy even if you are only working part time, as long as you are working at least 15 hours a week, and you have been working at this capacity for the 12 months prior to taking out the policy.

Additional options available

Real Insurance makes it possible for you to tailor your policy further with a number of additional benefit options. The optional cover you may choose from includes:

  • Homemaker Insurance. Provides insurance protection for the family’s homemaker in the event that the person suffers a disabling sickness or injury and is unable to perform any three of their day-to-day domestic duties for over 30 days. Note: this benefit is paid on a monthly basis.
  • Children’s Insurance. A parent or guardian of an Australian child between the ages of 2 and 17 is eligible to have their child protected under this benefit. This optional benefit is provided in the event of Paralysis, Accidental Death, Deafness, Blindness, Total & Permanent loss of the use of two limbs; Major head trauma; Encephalitis; or Meningitis of an insured child.
  • Final Expenses Insurance. The Final Expenses Insurance provides a lump sum payment for death caused by an accident or natural causes.
  • Rehabilitation Benefits. This is an optional benefit designed to help a person return to work following a serious injury. The Rehabilitation Benefit is only offered if you have a two or five year Benefit Period and is only active if you are actually receiving an income protection benefit. This benefit will pay up to six times your monthly benefit to help with the cost of returning to work as well as 50% of your monthly benefit amount (up to 6 months) if you're in an approved rehabilitation program.

Other features of your policy worth knowing about

  • Cooling-off period. There’s a 30 day cooling off period if you change your mind. As long as you haven't made a claim, you are allowed to cancel it and receive a refund of any premiums paid during the first 30 days after the commencement date.
  • Premium payment options. You control when you pay your premium. Once you select payment period and a commencement date; your premium will be debited on that date; whether, fortnightly, monthly or annually. You may pay your premium using a credit union or building society account; automatic debit from your bank account; or by charging it to your credit card.

How much will Real Income Protection Insurance cost me?

Your premium is calculated after every 12 month period. Below is a list of factors that contributes to the amount your premium costs:

  • Gender
  • Age
  • Smoking status
  • Benefit period selected
  • Monthly amount insured
  • Waiting period

Other factors that may affect the rate of your premium include family medical history, pre-existing medical conditions, occupation and participation in hazardous activities.

How do I apply?

With Real Income Protection Insurance, applying is simple and straightforward. You are not required to take any blood or medical tests. However, you will need to answer some questions about your health and lifestyle. There is also no requirement for you to show any proof of income to have your application approved, only at claim time.

Applicants will need to satisfy the following criteria:

  • You must be an Australian resident,
  • Between the age of 18 to 59, and
  • Working for at least 15 hours per week in your primary employment for the last 12 months.
Minimum AgeMaximum AgeInsurance Policy
1859Income Protection Policy
1859Homemaker Insurance Policy
217Children’s Insurance
1859Final Expense Insurance

Conditions apply, make sure you read the product disclosure statement (PDS) before applying. Information last checked as correct in October 2020 and is subject to change at anytime.

Important exclusions

Real will not pay Income Protection claims in relation to:

  • A mental disorder, or illness
  • Attempted suicide or an intentional self-inflicted injury
  • Injury caused by participation in a criminal activity or other illegal acts
  • The consumption of non-prescription drugs, or intoxicating liquor or having a blood alcohol level over the legal limit
  • Pregnancy, birth, abortions or miscarriage or
  • Declared or undeclared war or warlike activity

Steps to make a claim

In the event that you need to make a claim, the steps below will guide you through the hassle-free process with the Real Insurance claims team. To make a claim, you must first:

  • Notify the company of the event that gives rise to the claim via email, or telephone at 1300 307 297. If you are unable to make the notification yourself, you must nominate a beneficiary to make the call on your behalf.
  • Once Real Insurance has received your notification, a claims agent will be assigned to investigate and resolve your claim by giving you a call and working through the claims process with you.
  • The agent that gets in contact with you will provide all necessary forms for filing your claim. You must, therefore, complete these forms and affix your signature before returning them by mail with all required documents. In order for you to file an Income Protection Insurance claim, proof of the claim being made must be provided. Proof of claim includes:
  • Once all documents and signed forms are sent in, Real Insurance will assess all claims and make payments once they are valid.
  • Confirmation by one or more medical specialists
  • Relevant information such as: examinations carried out; tests or laboratory results
  • Proof of your income prior to your disability

More guides on Finder

Ask an Expert

You are about to post a question on

  • Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
  • is a financial comparison and information service, not a bank or product provider
  • We cannot provide you with personal advice or recommendations
  • Your answer might already be waiting – check previous questions below to see if yours has already been asked

Finder only provides general advice and factual information, so consider your own circumstances, or seek advice before you decide to act on our content. By submitting a question, you're accepting our Terms of Use, Disclaimer & Privacy Policy and Privacy & Cookies Policy.
Go to site