Skip to main content Skip to main navigation

Income protection FAQs

Life can throw some tricky situations at you so we've got answers to common questions right here for you.

How can I keep my income protection insurance premium costs down?

You may find that you can reduce the costs of your premiums by:

  • varying your waiting period;
  • choosing a lower benefit period;
  • reducing your monthly benefit amount; or
  • if you've stopped smoking for longer than 12 months (contact us and we may be able to apply a discount).

When deciding whether to adjust any of these aspects of your cover, you should consider your financial situation and the impact the change may have on you in the event you need to claim. 

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.