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Income protection FAQs

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

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 time after ceasing work that you must serve 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. If you don't have much leave or savings accumulated the 30 day waiting period is designed for you. Whereas, if you have a large amount of savings or leave accumulated, you may consider opting for the 90 day waiting period.

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.

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