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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.

What's covered?

Apply for cover up to 70% of your pre-tax income, up to $12,500 per month depending on your age.^*
Ability to choose a benefit period of 2 or 5 years and waiting period of 30 or 90 days.
Continuous cover even when circumstances change until policy expiry providing premiums are paid.
We'll waive your premiums while you’re receiving monthly benefits.

Key benefits

Apply online or over the phone. No medical examination or blood tests required to apply.
Income protection premiums are generally tax deductible - seek tax advice from your accountant to confirm.
Income protection policy owners can call our 24/7 Medibank Nurse Phone Service to talk about their health concerns.^{^}
10% discount on income protection for Medibank health members.

How to apply for Medibank Income Protection?

If you're an Australian resident aged between 18 and 55, you can apply for cover online or over the phone. No medical or blood tests needed to apply.^#

1. Get a quick quote online

You can get a quick quote online or call 1300 152 271 to talk to us.

2. Tailor your income protection policy

Choose from a benefit period of 2 or 5 years and a waiting period of 30 or 90 days.

3. Purchase online or over the phone

If approved, you can purchase Medibank Income Protection on the same day.

View the Product Disclosure Statement

Frequently asked questions

What is income protection insurance?

Why do I 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 some 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.

Will Medibank Income Protection cover me for redundancy or unemployment?

Why do I need income protection if I have sick leave through my employer?

Sick leave is designed to provide for situations which are short in duration. Most employers provide 10 personal leave days per year. While these days can accumulate, they do not transfer between employers, so it is generally not a good idea to rely on this as the sole contingency in case of sickness or injury.

Medibank's Income Protection policy provides options for the waiting period (the period of time that you must be disabled in accordance with the terms of the policy before receiving a claim payment) of 30 or 90 days, which is designed to take into account the fact that most people have some leave available and/or some savings which they can draw upon in an emergency.

Is income protection the same as WorkCover?

There are key differences you need to know about:

Workers compensation

Workers compensation steps in to protect employees when they suffer an injury at their workplace.

Income protection

Income protection insurance covers you for injuries suffered both at work and outside the workplace, which is very important when you consider that accidents can occur anywhere.

Income protection insurance also provides cover when you suffer from a wide range of illnesses.

In cases where you are eligible for both a Workers Compensation claim and income protection claim, your insurer will consider your circumstances and may offset any payments you receive from Workers Compensation from any claim they are liable to pay. This is because income protection is designed to cover a portion of your income, but if you are still earning an income through other means, you may not be entitled to a benefit or may be entitled to a reduced benefit. Refer to your Product Disclosure Statement for details of the terms, conditions and exclusions that apply.

Will my premiums increase?

Your income protection insurance premium will generally increase each year as you age. All premium changes will occur from the next anniversary date on your policy and we will inform you in advance of your policy anniversary of the premium we will charge you for the following year. Premiums may also increase due to changes on your policy, for example if you increase your sum insured (including Indexation Benefit increases), or change the waiting period or benefit period.

The insurer may, from time to time, review its premium rate schedule, which may result in changes to the premiums charged for all policies. Changes of this nature will be notified to you in advance of the change affecting you and you can never be singled out for an increase.

Want to talk to us?

Whether you're looking for a new quote or have a question about income protection, we're here to help. Call us Monday to Friday from 8:00am to 8:00pm AEST/AEDT.

Call 1300 152 271

Things you should know

^* Depending on age. Eligibility criteria apply. Pre-tax income is defined in the PDS.

^#Eligibility criteria apply, please refer to the PDS.

^{^} 24/7 Medibank Nurse phone service is a separate service offered by Medibank Health Solutions Pty Ltd when you purchase Medibank Life Insurance. Medibank Health Solutions reserve the right to withdraw or change the service at its sole discretion at any time.

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), Target Market Determination and Financial Services Guide to ensure the product is right for you before making a decision to acquire, or continue to hold, the product. Medibank Life Insurance and Medibank Income Protection (collectively Medibank life insurance) are issued by the insurer, Integrity Life Australia Limited ABN 83 089 981 073 AFSL 245492 (Integrity Life), administered and distributed by NEOS Direct, a registered business name of NDLI Pty Ltd ABN 70 665 747 277 AFSL 547119, and promoted by NEOS Direct's authorised representative Medibank Private Limited ABN 47 080 890 259 (AR No. 286089) (Medibank).

Your personal information will be handled in accordance with the Privacy Policies of the parties involved. Click here for NEOS Direct's Privacy Policy, Medibank Private's Privacy Policy or Integrity Life's Privacy Policy.

Help protect your way of life with Medibank Income Protection

Get a quick quote

Help protect your way of life with Medibank Income Protection

Get a quick quote

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