Thanks to advances in medical technology, these days most of us recover from serious illnesses. However the impact on your finances can be devastating.
If you were to suffer a serious illness, the last thing you would want is to have money worries as well. That’s where Serious Illness Cover comes in – by providing a lump sum that you can use to help with everyday expenses, rehabilitation or medical costs, if you suffer one of the defined serious illnesses covered, such as Heart Attack, Malignant Cancer, Stroke or have Coronary Artery Bypass Surgery.
Serious Illness Cover can help smooth the way to recovery by providing a lump sum if you suffer a defined serious illness – such as Heart Attack, Malignant Cancer, Stroke or Coronary Artery Bypass Surgery.
You can spend the benefit as you wish – to help cover everyday expenses, rehabilitation costs, or even a much needed holiday!
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Designed for all Australian residents aged 18 to 59
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No medical or blood tests required
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Apply over the phone - no forms to fill out
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You can apply for between $50,000 and $750,000 cover – depending on your age
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Cover starts from just $2.30 per week for $50,000 benefit*
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Your cover level won’t decrease, regardless of changes to your health or pastimes
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Single or Joint cover options
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Guaranteed renewable to age 65
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Monthly or fortnightly payment options
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30-day cooling off period
From $50,000 up to $750,000 benefit
If you’re an Australian resident you can tailor the benefit amount to suit your needs. The minimum benefit amount is $50,000 and you can select your chosen benefit in increments of $50,000, up to the maximum shown below:
| Current Age |
Maximum Benefit Amount |
| 18 to 54 |
$750,000 |
| 55 to 59 |
$500,000 |
You can also add on the following optional covers to your Serious Illness Insurance for greater peace of mind.
Children’s Insurance
Designed to help cover extra costs that may be incurred for things like medical expenses and school tuition if your child suffers a wide range of serious injuries or illnesses. The benefit is also paid in the event of accidental death.
Read the PDS.
Accidental Serious Injury Insurance
Australian residents aged 18 to 59 can also add Accidental Serious Injury Insurance to their policy. It pays a benefit equal to triple your life insurance benefit, and covers defined injuries such as Quadriplegia, Paraplegia, Blindness, Deafness and Total and Permanent Loss of Use of Two Limbs.
Read the PDS.
Serious Illness Cover has been designed to help fill the financial gap for you and your family if you were to suffer a serious illness (as defined in the policy).
The policy provides a cash benefit to you – from $50,000 up to $750,000 that can be used to help smooth the way to recovery and help bring your life back to normal. You can spend the benefit as you wish – to help with medical expenses, rehabilitation, or even a holiday!
Serious Illness Cover isn’t just for the main breadwinner. If a partner who takes care of the home and children is out of action, it can mean significant additional expenses to keep the household going, on top of rehabilitation and medical expenses. That’s why we offer the flexible Joint Plan where you and your partner can select individual benefit amounts.
Life is unpredictable and we never know what lies around the corner. If you wait until you are unwell, you may find this insurance is difficult if not impossible to obtain. Once you have your Serious Illness Cover in place, you can keep it all the way to age 65, and we guarantee not to raise your rate or cancel your policy as a result of your health deteriorating.
You can tailor the benefit amount to suit your needs and budget. If you are an Australian resident aged between 18 and 54 you can select a benefit amount of up to $750,000, those aged between 55 and 59 can select up to $500,000. The minimum benefit amount is $50,000.
You will be protected for the full benefit amount you choose from the very first day your cover takes effect, and you can keep your full cover all the way to age 65. The benefit will not decrease as you get older, or due to changes to your health, subject to the exclusions below.
Once accepted you’re immediately covered for the defined serious illnesses except:
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If the serious illness is caused as a result of attempted suicide or intentional self-injury, or
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If the serious illness manifests itself before the start of the policy or during the first 3 months after:
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the Serious Illness Insurance Commencement Date;
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any increase in cover commences (except automatic increases), in respect of the increase;
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any addition of a Life Insured in respect of the Life Insured; or
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Insurance is reinstated.
To help ensure that your level of insurance cover keeps up with increases in inflation your cover level is automatically increased on each policy anniversary by 5%. We will write to you each year to tell you about this, and you may decline this increase if you wish.
The automatic increases stop at the policy anniversary after you reach age 65.
All Australian residents and their partners aged between 18 and 59 are eligible to apply for cover. A medical examination is not required as insurability will be determined by your answers to some health and lifestyle questions.
Provided you are an Australian Citizen or permanent resident living in Australia and have no plans to relocate outside of Australia at the time of application, once your application is accepted you’re covered anywhere in the world 24/7.
Many of our customers are surprised at the affordability of this important cover. Cover starts from just $2.30 per week for $50,000 cover (based on standard rate for a female non-smoker aged between 18 and 34).
Get a quote and see for yourself how affordable Serious Illness Cover can be for you, or call 1300 37 7325 and speak to one of our Real Consultants.
The premium is calculated each year on the policy anniversary and is based on your age at that time, and the benefit level and plan you select.
Premium rates are not guaranteed. However you can never be singled out for an increase – any variation will apply to all Serious Illness Cover Policyowners.
Generally the premiums are not tax deductible and benefits paid are not assessed as income. This information is based on continuance of present tax laws and our interpretation of those laws. Your individual situation may differ and you may need to seek qualified professional advice in relation to your particular circumstances.
Your policy will continue until the first policy anniversary after you reach age 65.
If you cancel your cover within the first 30 days of commencement – for any reason whatsoever – you’ll receive a full refund of premiums that have been paid. If you cancel your cover after 30 days, you will not get anything back as Serious Illness Cover is not a savings plan. However, if you have chosen a yearly payment option, we will refund you a pro rata of the unused portion.
We make all benefit payments to the Policyowner. If the Primary Life Insured dies while owning the Policy, the Insurance benefit will be paid to the Policyowner’s legal personal representative, or other person that we are permitted to pay under the Life Insurance Act 1995.
You can nominate a person as a beneficiary to receive the benefit on death by simply downloading a
beneficiary form, complete and mail it to Real Insurance, GPO Box 1679, Crows Nest, NSW 1585.
Another question? Email us at
info@reallifecover.com.au