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, PO Box 6728, Baulkham Hills, NSW 2153.
Hannover Life Re of Australasia (Hannover), ABN 37 062 395 484, is the issuer of Silver Life Cover. Hannover’s portfolio
of life insurance business has been in force for over 40 years and consists of approximately $500 million dollars of annual
premium. The company is part of the Hannover Re Group which is one of the world’s leading reinsurers. Its worldwide network
consists of more than 100 subsidiaries, branch and representative offices in around 20 countries. Standard & Poor’s have
awarded Hannover Re a very strong insurer financial strength rating.