Real Insurance Bill Cover

Information verified correct on September 30th, 2016

Receive up to $3,500 a month with Real Insurance Bill Cover

Accidental injuries and serious illness can have profound impacts on those who are affected, from health, emotional, family, to financial problems. While some accidents or illnesses may not be serious enough to have a major impact on your life, there are others that can result in temporary disability due to the extent of the injuries. This means that you could find yourself laid up and unable to work or earn an income.

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However, even if you have suffered a debilitating accident or sickness that renders you unable to work and earn money for a while, your bills will still need to be paid and food will still need to be put on the table. If you have some form of financial backup in place to protect you in the event of temporary disability, you can focus on your recovery without having the added worry of how you are going to pay your bills and cover day to day costs.

Real Insurance Bill Cover is a valuable insurance plan that enables you to benefit from this financial security. This cover combines different types of insurance to suit your requirements. With Real Insurance Bill Cover, you can opt for Bill Insurance coverage only or you can choose to add Children's Insurance to your plan.

What is Bill Insurance?

The key component of Bill Cover is Bill Insurance, which enables you to receive a monthly income benefit if you are temporarily disabled as the result of injuries or illness. This coverage offers a range of features and benefits, but the key benefit is the fact that you will receive a monthly benefit to rely on while you are temporarily disabled.

As part of Bill Cover, you can apply for Bill Insurance on its own, and benefit from receiving a payment of between $1,000 and $3,500 when you make a claim, depending on the level of coverage you choose. There is a thirty day waiting period before the benefit kicks in, but if your temporary disablement continues past the initial thirty day period you should be eligible to start receiving the benefit.

In addition to the monthly benefit, this insurance cover also offers a Hospital Cash benefit, which pays out $100 daily for a period of up to ten days if you end up in hospital as a result of an accident. When it comes to the benefit period of your Bill Insurance, you will receive a number of options, including six months, one year, or two year benefit periods.

Bill Insurance provides a valuable way to meet the cost of bills, day to day living, and other household costs if you are temporarily disabled. Bill Cover is a competitively priced product with premiums determined by a range of factors. This includes the benefit period you choose and the level of coverage you opt for as well as factors such as age, gender, and employment status.

What does the policy cover?

  • Income Benefit. If you suffer a disabling sickness or injury and are unable to work, Real Insurance Bill Cover provides a monthly Income Benefit of between $1,000 and $3,500. This benefit is used to replace your regular income and meet your mortgage or rent payments, utility bills and other regular expenses.
  • Choice of benefit periods. When you apply for Real Insurance Bill Cover, you can choose a benefit period of six months, one year or two years.
  • Waiting period. You will need to serve a 30-day waiting period before an Income Benefit will be paid.
  • Recurrent Disability Benefit. If you suffer a disabling sickness or injury from the same or related cause as an earlier sickness or injury for which you received an Income Benefit, it will be treated as a continuation of the earlier claim. This means that no waiting period will apply and that the Income Benefit is only payable for the remaining balance of the benefit period.
  • Hospital Cash Benefit. If you’re hospitalised due to an accident for more than 48 consecutive hours during the waiting period, Real Insurance Bill Cover pays a daily benefit of $100 for the first 10 days.
  • Guaranteed renewable. Once accepted for cover and as long as you keep paying your premiums on time, Real Insurance Bill Cover is guaranteed renewable until your 75th birthday.
  • Automatic sum insured increases. To ensure that your level of cover keeps up with the rising cost of living, your level of cover automatically increases by 5 per cent on each policy anniversary.
  • Worldwide cover. Real Insurance Bill Cover provides worldwide protection 24 hours a day, seven days a week, provided you remain an Australian resident.

What policy exclusions should you be aware of?

Your Real Insurance Bill Cover claim will not be paid if it is for a sickness or injury that arises from:

  • A pre-existing medical condition
  • A mental disorder or illness
  • An intentional self-inflicted act or attempted suicide
  • The consumption of drugs (unless taken as directed by a medical practitioner)
  • The consumption of intoxicating liquor, including driving while over the legal blood alcohol limit
  • Aviation, except as a fare paying passenger on a commercial airline
  • Activity at a height of at least 20 metres above ground or at least 30 metres below ground or underwater
  • Willing and knowing exposure to the risk of sickness or injury for your personal gain or reward
  • Normal pregnancy, childbirth, miscarriage or termination
  • War or acts of war
  • Engaging in any criminal activities or illegal acts

Adding Children's Insurance onto Your Bill Cover Insurance

As part of the Real Insurance Bill Cover plan, you can combine your Bill Insurance with Children's Insurance. This is a type of coverage that provides benefits in the event that the insured child suffers:

  • Accidental death
  • Total and permanent loss of two limbs
  • Paralysis
  • Deafness or blindness
  • Major head trauma
  • Meningitis
  • Encephalitis

Children between the age of 2 and 17 will be eligible for this insurance, provided that they are also Australian residents. For each insured child, you are able to choose from coverage ranging from a minimum of $20,000 through to a maximum of $50,000.

Who is eligible for Real Insurance Bill Cover?

  • Real Insurance Bill Cover is available to Australian residents aged from 18 to 59 years of age.
  • You can apply for a benefit amount of between $1,000 and $3,500.
  • Cover expires on the policy anniversary following your 75th birthday.
  • If you’re aged under 65, the disability of definition that applies to your policy is based on your ability to perform your usual occupation or perform your usual domestic duties.
  • If you’re over 65 years old, an Activities of Daily Living definition of disability applies to the policy.

Additional Information on Bill Cover

Real Insurance Bill Cover can prove a valuable form of protection against the financial issues that may arise from temporary disability as well as from serious child related conditions. Whether taken out as a standalone policy or bundled with Children Insurance, Bill Cover offers a range of competitive features to give policy owners an adequate level of cover.

If you do take out Real Insurance Bill Cover but you then decide that it is not for you, there is a 30 day cooling off period with a money back guarantee. As long as you have not made a claim on the policy, you can cancel at anytime within the first thirty days and you will get any money you paid for the plan refunded in full.

It is also worth noting that the sum insured will be automatically increased on an annual basis, with a 5% increase on each policy anniversary. This is to ensure that the level of insurance and your benefit keeps up with increases in the cost of living. This means that if you do have to make a claim, you will receive benefits that are in line with the current cost of living so you are more likely to be able to cover your bills and costs.

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