How much life insurance cover do I need?
To work out the right level of cover, you should consider your expenses, including your mortgage or rent, school fees, other debts, and living expenses.
A higher level of cover may make your premiums more expensive, but the right level of cover should mean that your family or other dependents can maintain their lifestyle without you. If you’re not sure how much cover you need, it is best to speak to a financial advisor.
The Life Wise website has an insurance calculator which can help you work out how much insurance you need.
Things you should know
You should read the Medibank Starter Life Insurance Product Disclosure Statement and Financial Services Guide, the Medibank Life Insurance combined Product Disclosure Statement and Financial Services Guide carefully before deciding whether or not to buy that product.
You should read the Medibank Funeral Insurance Product Disclosure Statement carefully before deciding whether or not to buy that product.
You should read the Medibank Income Protection Product Disclosure Statement carefully before deciding whether or not to buy that product.
Medibank life insurance products are issued by the insurer, Swiss Re Life & Health Australia Limited ABN 74 000 218 306; Australian Financial Services Licence No. (AFSL) 324908, Level 36, Tower Two, International Towers Sydney, 200 Barangaroo Avenue, Sydney NSW 2000. Medibank life insurance products are distributed by Greenstone Financial Services Pty Ltd (GFS) ABN 53 128 692 884; AFSL 343079, 58 Norwest Boulevard, Bella Vista NSW 2153 and promoted by its Authorised Representative Medibank Private Limited ABN 47 080 890 259; Authorised Representative No. 286089, 720 Bourke Street, Docklands VIC 3008. Medibank Private is also authorised by GFS to distribute Medibank Starter Life insurance.
Advice on this website is general only and does not consider your individual objectives, financial situation or needs.
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