Whether you’re working or enjoying life in retirement, it’s important to plan to make sure your family is taken care of if you were no longer there.
Most importantly no-one wants to leave their family with the burden of outstanding bills or funeral costs. Even if you have other insurances or a nest egg to help see your family through life, it would be a shame for that to be diminished by any bills that you may leave behind.
Silver Life Cover is simple, no-nonsense life insurance designed to give an extra measure of financial security for your family.
Whilst your kids may have “flown the nest” and your mortgage is paid off, it doesn’t mean that your savings will take care of whatever lies ahead.
Silver Life Cover is affordable life insurance designed especially for those aged 50 plus.
The cash payout is made to your beneficiaries without delay, and can be used to pay off outstanding debts, or even cover your funeral costs. Once you have your cover, the benefit will not decrease, and the premium will stay the same for as long as you keep your cover.
The benefits of Silver Life Cover
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Guaranteed acceptance for Australian residents aged 50 to 79
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No medical or blood test required
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Apply over the phone - no forms to fill out
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Your chosen benefit is paid in the event of your death by natural causes – up to $15,000 (after the first 12 months)
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Triple benefit paid in the event of accidental death – up to $45,000 (from day 1)
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From just $4.45 per week for $5,000 cover*
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Premium doesn’t increase as you get older
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Benefit level stays the same
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Single or family cover options
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Cover for your dependent children until they reach 21
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Premiums stop at age 90 and cover can continue for life
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Monthly or fortnightly payment options
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30 day cooling off period
From $3,000 up to $15,000 life insurance benefit
You can select a cover option that suits your needs and budget, from a $3,000 life insurance benefit through to a $15,000 life insurance benefit.
You are also provided with Accidental Death Insurance equal to 200% of your Silver Life Cover benefit.
Which means, if you choose $15,000 Silver Life Insurance benefit amount, you are also provided with a further $30,000 of Accidental Death Insurance providing a total benefit payable in the event of Accidental Death of $45,000.
Single or Family Cover options
You can apply for a Single Plan, or Family Plan which includes your spouse, partner, and/or defacto, plus your financially dependent children until they reach age 21. There is no limit on the number of financially dependent children you can include on your Family Plan.
Accidental Serious Injury Option
Australians aged 50 to 69 can also add Accidental Serious Injury Insurance to their Silver Life Insurance. 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.
Naturally you wouldn’t want to burden your family and loved ones with outstanding bills and your funeral expenses. That’s why Silver Life Cover provides insurance that has been designed to help you protect your family from the financial burden of your funeral and other unexpected costs, if you were to unexpectedly pass away.
No-one knows what lies around the corner, whether it’s an accident or illness - and securing cover early ensures the protection is there if it’s needed.
You can select a cover option that suits your needs and budget, from a $3,000 life insurance benefit through to a $15,000 life insurance benefit.
You are also provided with Accidental Death Insurance equal to 200% of your life insurance benefit in addition to your Silver Life Cover insurance benefit. For example, if you choose $15,000 Silver Life Insurance benefit, you are also provided with a further $30,000 of Accidental Death Insurance providing a total benefit payable in the event of Accidental Death of $45,000.
You can add Accidental Serious Injury Insurance to your Silver Life Insurance, which provides a benefit in the event of Quadriplegia, Paraplegia, Hemiplegia, Blindness, Deafness or Total and Permanent Loss of Use of two limbs.
If you are an Australian resident aged between 50 and 79 we guarantee to accept you for this insurance. Once you have your policy in place, provided you pay your premiums when due, it is guaranteed renewable for life, regardless of changes to your health or lifestyle.
No, and there are no intrusive questions about your health and lifestyle.
After the first year of cover there are no exclusions on the cover provided. During the first year of the Silver Life Cover, a benefit will only be paid if death is due to an accident, thereafter the benefit is payable on death from any cause, including sickness and accident.
Accident means an event resulting in bodily injury where the injury is directly and solely caused by violent, external and visible means without any other contributing causes and where the injury is not self inflicted. Accidental Death means death occurring as a direct result of an Accident and where death occurs within 90 days of the Accident.
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.
Yes. Silver Life Cover has been designed to be family friendly. You can choose to cover your life (Single Plan), or cover yourself, your partner and all children until they reach age 21 who are dependent on you (Family Plan). There is no limit to the number of dependent children that can be covered under the Family Plan.
Just
get a quote to see how affordable it can be for you. Cover starts at $4.45 per week (premium for Single Plan providing $5,000 Silver Life benefit and $15,000 Accidental Death benefit for men and women age 50).
The great thing about Silver Life Insurance is that your premium rate does not increase just because you get older, and you will never be singled out for an increase regardless of changes to your health or lifestyle. For Family Silver Life Insurance the premium is based on the age of the oldest member of the family. From age 90, premiums are waived and no further payments are required.
In most cases your premium will not be tax deductible and tax will not be payable on any benefit paid under your policy.
This information is based on continuance of present tax laws and the insurer’s interpretation of those laws. Your individual situation may differ and you may need to seek qualified professional advice in relation to your particular circumstances.
As long as you pay your premiums, the cover is guaranteed renewable for the rest of your life – even if your health and circumstances change.
If you cancel your Silver Life Cover Policy 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 Policy after 30 days, you will not get anything back as this Policy 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