Medibank Starter Life Insurance can be applied for immediately online, without lots of health questions.  You can choose to be covered between $50,000 and $250,000. To apply, you need to be aged between 18 and 45 years (inclusive) and be an Australian resident. 

As our Medibank Starter Life application process does not consider your detailed health and lifestyle information and covers you in the event of death and terminal illness, we recommend you consider the PDS and/or obtain independent financial advice to see whether this product is right for you.

Our standard Medibank Life Insurance product also covers you in the event of death and terminal illness and has accidental injury cover. Medibank Life Insurance can provide you with a higher benefit amount than Starter Life Insurance and has additional optional covers available for Trauma cover and Permanently Unable to Work cover, so you can tailor it to your needs. The application process is therefore longer than for Starter Life Insurance and is required to be completed over the phone.  You can choose to be covered for up $2.5 million depending on your age and income at time of application.  To apply, you need to be aged between 16 and 70 years of age (inclusive) and be an Australian resident.  You can request a quote online or apply on the phone.

If you are unsure about any of our Medibank life insurance products or have any questions, call one of our sales specialists and they can talk you through our different products available. 

Life insurance will pay you or your chosen beneficiaries, a lump sum amount if you pass away or are diagnosed with a terminal illness and have 12 months or less to live. 

You can also choose extra options like Trauma cover and Permanently Unable to Work cover with Medibank Life Insurance.  

You need to be a permanent Australian resident to apply for any of our products. An Australian resident means a person who resides in Australia and:

• hold Australian or New Zealand citizenship; or
• holds an Australian permanent residency visa.

A medical examination is not required as insurability will be determined by your answers to the health and lifestyle questions. You must be aged between 16 and 60 years to also add Permanently Unable to Work cover, Children's Insurance cover and Trauma cover.

For Medibank Starter Life Insurance, you must be an Australian resident aged between 18 and 45 years. For our Medibank Life Insurance, you must be an Australian resident aged between 16 and 65 years at the time of application. 

If you’re not sure how much cover you need, it may be best to speak to a financial advisor.

We have a helpful life insurance calculator which can also help you to work out how much insurance you may need.  

It’s worth checking before assuming you have enough cover. If you’re not sure how much cover you need, it may be best to speak to a financial advisor.

We have a helpful life insurance calculator which can also help you to work out how much insurance you may need.

Your life insurance premium is calculated on a stepped basis which means it 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.

In addition, you will be offered an automatic indexation on your policy at each policy anniversary, which means that your benefit amount and premium will both increase by 5%. You can opt-out of these automatic increases by contacting us.

Medibank 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.

Yes. Once your policy commences you may be eligible to increase the amount of your cover. An application to increase will be subject to eligibility criteria including age requirements, and underwriting assessment in the normal manner.

In some circumstances, depending on your policy, you may be entitled to an increase without the need for underwriting assessment. Your Product Disclosure Statement sets out the full details on how to increase your cover. 

You may cancel your policy within 30 days of the first premium due date, and provided you have not made a claim, we will cancel the policy and refund any premiums you may have paid. This is known as the "cooling off period".

If you cancel your policy after the 30 day cooling off period, you will not receive a refund.

Generally the premiums are not tax deductible and benefits paid are not assessed as income.

This information is based on continuance of present tax laws and our interpretation of those laws.

Your individual situation may differ and you should seek qualified professional advice in relation to your particular circumstances.

You can cancel your Insurance Policy by calling us on 1300 766 085 or by writing to:

Policyowner Services
Medibank Life Insurance
PO Box 6728
Baulkham Hills NSW 2153

A confirmation of cancellation will be sent to you.