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Income Protection Insurance

Medibank Income Protection offers you cover to help maintain your lifestyle should the unexpected happen.

Receive up to 75% of your pre-tax earnings, up to a total of $7,500 per month. Plus, health members save 10% off premiums every year.

Income Protection

Medibank Income Protection Insurance

What would happen to your way of life if you suddenly couldn't work? Do you have enough savings and sick leave to meet your regular living costs? If so, how long would they last for? 

Income protection insurance can help you with your finances so you're able to stay on top of bills and focus on your recovery from sickness or injury.

 

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Choose your benefit amount

Receive up to 75% of your pre-tax earnings, up to a total of $7,500 per month^.

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Choose your benefit period

Nominate how long you want your monthly benefits paid for, up to a maximum of 5 years.

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Choose your waiting period

Choose between a 30 or 90 day waiting period, being the period following a claim that no benefit is payable.

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Simple application

No medical or blood tests needed to apply.

Understanding Income Protection Insurance

What is income protection insurance?

Income protection insurance can be your back-up plan if you fall seriously ill and can’t continue your duties for work. Income protection provides an ongoing monthly benefit as a percentage of your regular income, so you’re not left high and dry if you’re unable to work.

Why do you need income protection?

Everyone’s reason for taking out income protection insurance is different. You could have financial commitments (e.g. mortgage and loan repayments) or have dependants that rely on your income for everyday living expenses. Income protection can provide you with peace of mind that you'll be able to continue to take care of yourself and your loved ones, even if you couldn't work due to sickness or injury.

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How much income protection insurance do you need?

Your income protection insurance should be enough to cover your financial commitments and basic needs in case you're not able to work. With Medibank Income Protection, you can choose to insure up to 75% of your pre-tax income. You can select the actual amount you wish to be covered for during the quote process.

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This is general advice only and does not consider your individual objectives or financial situation. You should consider the Product Disclosure Statement to see if this product is right for you.

 

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Why choose Medibank Income Protection Insurance

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Member discount

10% discount for Medibank health insurance members.

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Lump sum benefits

You could receive a lump sum payout if you suffer a permanent and total disability.

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Tax deductible

Premiums are generally tax deductible - check with your accountant for advice.

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Worldwide cover

You're protected 24 hours a day, 7 days a week, worldwide, provided you remain an Australian Resident.

Who can apply?

Australian residents aged between 18 and 59 years can apply. Your cover is renewable up to age 65. Complete a quick quote online to start the process.

Still got questions? We've got the answers.

How do I find out more?

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Want to talk to someone?

Whatever your life stage or circumstance, we're here to help. Call us on 1300 722 568, we are open Monday to Friday from 8:00am to 8:00pm.

Give us a call

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Life Insurance Code of Practice

The Life Insurance Code of Practice is the life insurance industry’s commitment to customer service standards and it’s designed to protect you, the customer.   

Learn more

Help & Resources

Find more information and resources to help you make the most of your life insurance, income protection or funeral insurance.

Find out more

Looking for a different cover?

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Life Insurance

Medibank Life Insurance means providing for your family when you can't. Apply for up to $2.5 million, depending on age and income.

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Funeral Insurance

Medibank Funeral Insurance can help reduce the burden on those left behind by providing your loved ones with financial assistance if you pass away.

Things you should know

Any advice provided is general only and doesn’t consider your objectives, financial situation or needs. You should carefully read the relevant Product Disclosure Statement (which sets out the product terms, conditions and exclusions) and Financial Services Guide available here to ensure the product is right for you.

Medibank life insurance products are issued by the insurer, Swiss Re Life & Health Australia Limited ABN 74 000 218 306, AFSL 324908 (Swiss Re). Medibank life insurance products are distributed by Greenstone Financial Services Pty Ltd ABN 53 128 692 884, AFSL 343079 (GFS), and promoted by Medibank Private Limited ABN 47 080 890 259, AR 286089 (Medibank Private). Medibank Private is an authorised representative of GFS.

Your personal information will be handled in accordance with our Privacy Collection Notice.

^ - Depending on your income, you can apply for up to 75% of your pre-tax earnings. Minimum cover of $1,000 and a maximum of $7,500 per month.

Have questions?

Our team of experts are ready to help!

Enter your postcode to find your nearest store to have a face-to-face chat!

Fill in the form below or get in touch by calling our dedicated line 1300 110 086.
We are open on Sundays.

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We'll have someone call you soon to help with any questions you have.

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