Income Protection Insurance

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

Choose a sum insured of up to 70% of your monthly pre-tax income (up to $1,200 per month, depending on your age).1 Medibank health members save 10% every year.

Save 10% on Income Protection this EOFY

Save 10% on your first year's premium! Apply by 1 July.*
Plus Medibank health members get an extra 10% off every year.

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?

  • Choose a sum insured of up to 70% of your monthly pre-tax income (up to $12,500 per month, depending on your age).1
  • Choose a benefit period and a waiting period from our options2 to suit your needs.
  • 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 see if this applies to you.
  • Income protection policy owners can call our 24/7 Medibank Nurse Phone Service to talk about their health concerns.^
  • Medibank health members save 10% on income protection insurance. 


Canstar Award

Award winning income protection

Proud to be winners of WeMoney's 2024 Award - Best for Value (Income Protection).

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.

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1. Get a quick quote online

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

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2. Tailor your income protection policy

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

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3. Purchase online or over the phone

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

Frequently asked questions

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.

Things you should know

1 Eligibility criteria apply. Pre-tax income is defined in the PDS.

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

^ 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.

First Year Discount Terms & Conditions

* Offer starts 12.01am AEST on 7 May 2024 and ends 11.59pm AEST on 1 July 2024 (Promotion Period). Customers who purchase a Medibank Life Insurance or Medibank Income Protection policy for the first time (Eligible Policy), either online or over the phone during the Promotion Period will receive a 10% discount (Discount) on the premiums payable during the first 12 months their policy is in force. 

The Discount will also apply to any customers who start or resume their application of an Eligible Policy, during the Promotion Period, and then complete the purchase of the same application prior to that application expiring. 

Where a customer purchased an Eligible Policy prior to or during the Promotion Period, and then adds additional cover types via a separate application during the Promotion Period (TPD Cover, Critical Illness Cover or Child Cover), the Discount will not apply to these additional cover types. 

Where a customer is a Medibank health member, the Discount is in addition to the standard 10% health member discount. The two discounts combined amount to a total of 20% off the first year’s premiums. Medibank health members continue to receive 10% off their premium every subsequent year, for so long as their health membership is maintained. All discounts are applied to the annualised premium amount and before the deduction of all applicable taxes. 

The Discount will end on the first policy anniversary date. The period that the Discount applies for will not change or extend despite the use of the Premium and Cover Pause Benefit, or the waiver of premiums in relation to an Income Protection claim (as outlined in the relevant PDS). 

All terms and conditions, waiting periods, limitations and exclusions will apply to all cover purchased in accordance with the relevant PDS. We reserve the right to change the Promotion Period of the Discount. The Discount only applies if it is shown on the quote provided when applying. Not available with any other offer except for the Medibank health member discount.

Medibank Life Insurance and Medibank Income Protection (collectively Medibank life insurance) are issued by the insurer, Zurich Australia Limited ABN 92 000 010 195 AFSL 232510 (Zurich). NEOS Direct, a registered business name of NDLI Pty Ltd ABN 70 665 747 277 AFSL 547119, distributes and services Medibank life insurance, which is promoted by NEOS Direct's authorised representative Medibank Private Limited ABN 47 080 890 259 (AR No. 286089) (Medibank).  

Any advice provided is general only and doesn’t consider your objectives, financial situation or needs. You should consider these factors, the appropriateness of the advice, and carefully read the relevant Product Disclosure Statement (which sets out the product terms, conditions and exclusions), Target Market Determination and Financial Services Guide before making a decision to acquire, or continue to hold, the product.

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 Zurich's Privacy Policy