Real Insurance Life Insurance Review

Real Life Insurance’s benefits are often on par with or slightly better than some of its competitors.

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Peta Taylor

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Key takeaways

  • Real Life Insurance allows application without medical tests and offers up to $2 million cover.
  • Get 10% cash back on premiums after 12 months with The Real Reward™ program.
  • Hannover Re, Real's underwriter, accepted 88.8% of claims with faster 2.4 month payouts.

Compare key features of Real Life Insurance and get a quote today

Finder Score Maximum Cover Funeral Benefit Optional TPD Cover Optional Trauma Cover
Real Life Insurance logo
Finder score
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Real Life Insurance
Finder score
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Maximum Cover
$2 million
Funeral Benefit
$20,000
Optional TPD Cover
$1 million
(maximum cover)
Optional Trauma Cover
Yes
Get 10% cash back of the premiums you've paid after your 12-month anniversary with The Real Reward™. T&Cs apply.
Our verdict: The application is simple; it can be done with 1 phone call and there are no medical exams.
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Real Life Insurance logo
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Real Term Life Cover
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Maximum Cover
$0.1 million
Funeral Benefit
$20,000
Optional TPD Cover
Optional Trauma Cover
No
View details
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Real Life Insurance logo
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Real Serious Illness Insurance
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Maximum Cover
$0.5 million
Funeral Benefit
$0
Optional TPD Cover
Optional Trauma Cover
Yes
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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.

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 out of 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 the full methodology

What additional cover options are available?

  • 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

Sources

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Publisher of Insurance

Peta Taylor is a publisher at Finder, working across all of insurance. She's been analysing product disclosure statements and publishing articles for over 2 years. Peta is passionate about demystifying complex insurance products to help users make well educated decisions with confidence. Peta is part of Finder's insurance awards team and works alongside editorial and insights experts to bring users the best insurance products every year. See full bio

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