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Life insurance FAQs

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

Will my life insurance premiums increase?

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. 

Things you should know

Life Insurance

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.

Funeral Insurance

You should read the Medibank Funeral Insurance Product Disclosure Statement carefully before deciding whether or not to buy that product.

Income Protection

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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