Real Insurance Life Insurance Review

Compare key features of Real life insurance and get a quote today

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Pros

• No medical or blood test needed to apply.
• Fortnightly or monthly payment options are available.
• Real's policy has no expiry age as long as premiums are paid - a rare benefit.

Cons

• Unable to get an online quote.
• The maximum cover available is $2 million, depending on your circumstances. This is lower in comparison to some others.

How does Real Life Insurance compare to other popular life insurance brands?

Features

Real's benefits are often on par or little better with other popular life insurance providers like Zurich and Medibank. However, the standout feature of this policy is that there's no expiry age for policyholders, as long as they pay their premiums.

Finder Score - Life Insurance

Life Insurance is a little complicated and a lot overwhelming. That's why we made the Finder Score, to make it easier to compare Life Insurance products against each other. Our experts analysed over 30 products and gave each one a score between 1 and 10.

But a higher score doesn't always mean a product is better for you. Your situation is unique, so your policy choice will be too. Don't think of Finder Score as the final word, but as a good place to start your life insurance comparison.

Read full Finder Score methodology

What additional cover options are available?

• Total & Permanent Disability Insurance: Pays your cover amount in full if you become permanently disabled or can't work due to a permanent illness or injury.
• Children's Insurance: Pays a lump sum benefit, up to $50,000, in the event of a range of specified serious illnesses and injuries, terminal illness or if your child passes away.
• Serious Illness Insurance: Cover for some of the most common serious illnesses like cancer or heart attacks. (available depending on your circumstances)

How to make a claim

Life insurance claims can be filed via phone or email. Once the nominated beneficiary has made contact, Real will assign a claims agent and provide you with the forms and instructions to complete your claim.

Real Life Insurance claims information

Real Life Insurance is underwritten by Hannover Life Re of Australasia Ltd. Hannover has a claims acceptance rate of 88.8%, which is below the industry average for direct life insurance claims of 91.1%. However, Hannover has a faster claims payout time of 2.4 months, in comparison to the industry average of 2.7 months.

Looking at disputes, Hannover had 33 disputes per 100,000 lives insured during 1 Jul 2023 to 30 Jun 2024. This is above the industry average of 26.5.

FAQs

• What age does Real Life Insurance stop?

  As long as you pay your premiums on time, your policy is guaranteed to be renewed. Some of the optional covers will expire at certain ages. Depending on your underwriting outcome your life insurance policy may also expire as set out in the Product Disclosure Statement.

• Does Real Life Insurance pay out?

  Claims data from the Australian Prudential Regulation Authority shows that Hannover Re —
  Real Life Insurance's underwriter — accepted 88.8% of claims during 1 Jul 2023 to 30 Jun 2024. This is lower than the industry average of 91.1%. These statistics are relevant only to polices that were bought directly through the life insurer.

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