Real Life Insurance Review

Real Life Insurance offers reasonably competitive life cover that could meet the needs of many Aussies, but do check if the cover limits meet your needs.

Our Verdict:

  • You can get back 10% of premiums you’ve paid in the first month. In our view, this is one of the better sign up offers on the market.
  • Children’s cover is available on some plans – you can get up to 50,000 for each child insured.
  • An overall cover limit of up to $1,000,000 might not be enough for some people. Also, some buriuals can cost around $15,000 and so you’ll want to check whether or not Life’s $10,000 funeral benefit will be enough for your family.

Review by our life insurance senior writer James Martin

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Maximum Cover


Maximum Entry Age


Terminal Illness Benefit

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Product NameReal Family Life Cover
Maximum Cover $1,000,000
Funeral Benefit $10,000
Guaranteed Renewability
Cooling-off (days)30
Online Quote
With Real, you'll be able to secure life cover through one phone call and there's no need for time-consuming medicals or blood tests. What's more, the insurer's Australia-based call centre can help you or your family with stress-free claims. Keep in mind that a life insurance policy with Real Life isn't fully underwritten. However, that's also true for 10 of the 19 brands we compare.

Get the latest deal from Real Life Insurance


Get 10% of premiums back in the first 12 months

Receive 10% of premiums you’ve paid in the first 12 months with The Real Reward program.

Get a quote for Real Life Insurance

Name Product Maximum Cover Maximum Entry Age Fully Underwritten? Terminal Illness Benefit Optional Extras
Real Family Life Cover
TPD cover, Trauma cover
Get a refund of 10% of the premiums you've paid (in the first 12 months) with The Real Reward™ .

Compare up to 4 providers

A quick review of Real Life Insurance

Maximum sum insured$1,000,000
Age of entry18-64
How do I apply?Over the phone with Real

Based on the Family Life Cover policy. Information last updated March 2021. Always consult the Product Disclosure Statement (PDS)

  • Underwriter has a strong financial rating
  • No 'level premium' option is offered
  • Additional benefit offered for traumatic injuries
  • No medical assessment (great if you are in good health)

Based on the Family Life Cover policy. Information last updated March 2021. 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.
  • Cover that can be kept for life (as long as premiums are paid)

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.

Based on the Family Life Cover policy. Information last updated March 2021. Always consult the Product Disclosure Statement (PDS)

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

Claims dataHannoverIndustry Average
Claims acceptance rate88.70%88.1%
Average claim time (months)0.603.1
Claim disputes (per 100,000 lives insured)7.807.8

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

About Real

Real Insurance is a fairly new player in the insurance market, but it has quickly emerged as a key industry disrupter thanks to their impressive range of products. Real insurance has collected a highly experienced team that are dedicated to providing real customer service, as well as products that are easy to understand and manage.

Real Insurance operates under the Hollard Insurance Group – one of the world's leading insurance groups. Customer service is a priority at Real Life Insurance which has gone a long way in establishing a pool of loyal customers and members.

Real Insurance's products extend beyond life insurance and its products include:

  • Real Funeral Insurance
  • Real Pet Insurance
  • Real Car Insurance
  • Real Home Insurance
  • Real Travel Insurance
  • Real Bike Insurance
  • Real Landlords Insurance

Why go with Real Life Insurance?

Real Insurance life products are issued by Hannover Life Re of Australasia Ltd ABN 37 062 395 484, a wholly-owned subsidiary of Hannover Re and is part of the Hannover Re Group worldwide. Hannover Re is one of the largest life reinsurers in the world, and has a Standard and Poor's Insurer Financial Strength of AA (Very Strong), and has maintained this rating for a number of years.

What types of life insurance are offered by Real?

Real Family Life Insurance offers up to a $1,000,000 benefit to cover death and diagnosis of a terminal illness (with life expectancy of less than 12 months).

Maximum benefit amount (at Commencement Date)

Current AgeBenefit Amount
18 - 44$1,000,000
45 - 54$750,000
55 - 59$500,000
60 - 64$300,000
Total and Permanent Disability Insurance, also known as TPD Insurance, provides a lump sum benefit payment if you become totally and permanently disabled and are unable to work.

The minimum benefit amount that will be paid under Real TPD Insurance is $50,000. The maximum benefit amount payable under this type of cover varies depending on your age, as is shown in the table below.

AgeMaximum Benefit Amount
18 - 44$1,000,000
45 - 54$750,000
55 – 59$500,000
60 - 64Not applicable

Conditions apply, make sure you read the product disclosure statement (PDS) before applying. Information last checked as correct in March 2021 and is subject to change at anytime. Note: Cover excludes death or terminal illness as a result of a self-inflicted injury in the first 13 months.

Additional options available

Real Family Life Cover offers a range of insurance combinations to suit what you require. Under the umbrella life cover term falls various other additional insurance options including:

  • Children Insurance. Pays a lump sum benefit if the insured child experiences death (from after three months of the policy starting), accidental death (from the day cover starts), and defined serious illnesses and injuries.

Key Benefits and Features of Real Insurance Policies

No matter which combinations you choose to complement your Real insurance policy, these features will be built-in at no extra cost.

  • 30 day money back guarantee: Real Life and Funeral Insurance allow 30 days from the commencement of your insurance policy to make sure you are happy with your policy. You are able to have your policy cancelled and any premiums refunded if you change your mind, unless a claim has already been made.
  • Automatic sum insured increases: To keep up with the rate of inflation, benefits on Life Insurance are automatically increased every year by 5%, even if the maximum amount of coverage is reached.
  • Premiums: Premium are subject to change. However, changes must be applied across all policy owners. At least 90 days notice will be given for any premium change.
  • Payment flexibility: Your premium will be debited on the date of your choice, either fortnightly, monthly or annually. You can pay by automatic debit from your bank, credit union or building society account or by charge to your credit card. You may also change your method of payment at anytime.
  • Claim flexibility and simplicity: Claims can be made through mail or telephone.
  • 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.

Other standalone products available from Real

How do I get Real Life Insurance quotes online?

To receive a Real Life Insurance quote, simply follow one of the secure links located in the table above. After submitting your details securely online via the enquiry form, a Real Life Insurance Consultant will contact you to discuss your enquiry and how much you can expect to pay for cover based on the details that you have provided. This will be a preliminary quote and may be subject to change, depending on the product, based on the applicant's situation i.e. any medical conditions. After reviewing the cover and premiums you can expect to pay, you can kick off your insurance application. Some applicants may be required to submit further medical underwriting if they have pre-existing conditions.

Details that Real Life Insurance requires to provide you with a preliminary quote include:

  • Date of birth
  • Gender
  • Smoker status
  • Level of cover
  • First name
  • Last name
  • Phone

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