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Why choose Medibank Life Insurance?
Think about the people who rely on you. How long could your partner, kids, or relatives keep going on their own? Medibank Life Insurance can give you cover of up to $2.5 million, depending on your age and income, so you know that the people who are most important to you can be properly looked after if you can't take care of them. Our team is on hand if you want to apply for cover or talk through our product options.
Guaranteed renewal
Your policy will renew each year provided premiums are paid.
Fast approval
Apply for a policy in just one call or buy Starter Life Insurance online~.
Member discount
10% discount for Medibank health insurance members.
Help on hand
Get access to the 24/7 Medibank Nurse phone service^.
Not sure how much life cover you need?
Answer a few questions and we'll help you work out the amount of life insurance cover you might require.
Our life insurance range
Life insurance might seem like a lot to think about, but protecting your family can be as simple as making one phone call, or answering a few questions online. We have options which you can tailor to your needs.
Medibank Life Insurance
Our flexible range helps you match your cover to your individual needs.
Tailor the policy with our optional benefits for Trauma cover and Permanently Unable to Work cover.
At a glance
- Ages 16-70 can apply
- Apply without medical or blood tests
- Cover up to $2.5 million, depending on age and income
Starter Life Insurance
Life cover that can be bought immediately online.
Get simple and hassle free life insurance without a lengthy application process.
At a glance
- Ages 18-45 can apply
- Apply for cover in 10 minutes
- 100% online application
- Select one health and lifestyle statement
- Cover up to $250,000
Help on hand
Need some help?
Whatever your life stage or circumstance, check out our cover options for you and your family. Call us on 1300 766 085 we're open Monday to Friday from 8:00am to 8:00pm.
24/7 Medibank Nurse
Life Insurance policy holders can call our phone service to speak to a Medibank Nurse about their health concerns at any time of the day or night^. Call 1800 325 211 at any time.
Life Insurance Code of Practice
The Life Insurance Code of Practice is the life insurance industry’s commitment to customer service standards and it’s designed to protect you, the customer.
We’ve got your questions answered
Like all life insurance policies, the level of cover and the type of cover you have will affect your premium, or how much you pay. The age of each life insured at the time of application and policy anniversary will also be factored in.
Our Medibank Life Insurance product also calculates the premium based on the answers to the health and lifestyle questions we ask during the application process.
Medibank Starter Life Insurance will ask you to select a health and lifestyle statement to provide you with a premium. You also have the option to provide your height and weight details to see if you're eligible for a discount on this premium.
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.
The relevant Life Insurance Policy Product Disclosure Statement (PDS) will provide the important information on how exclusions may affect your cover. It’s important to read the PDS for all exclusions that apply to your cover. Some exclusions include (but are not limited to) the below:
No payments will be made if your death is because of a self-inflicted injury or terminal illness within 13 months of:
- the policy beginning
- an increase to the policy (with regards to the increased portion); or
- the policy being reinstated.
We will also not pay any benefit where we have agreed with you a special term in respect of your cover that specifically excludes the event or condition leading to the claim. Any such provision will appear on your policy schedule.
We will not pay an Accidental injury benefit, a Permanently Unable to Work benefit or a Trauma benefit where the condition is a result, directly or indirectly, of an intentional or deliberate self-inflicted injury.
For Trauma cover, we will not pay the Benefit Amount in the case of Cancer, Stroke, Coronary Artery Bypass Surgery or Severe Heart Attack if the condition was diagnosed, or the circumstances leading to diagnosis became apparent, after the Acceptance Date and within 90 days after:
- the Commencement Date; or
- the date that an increase in Benefit Amount is requested in respect of the Life Insured (but only in respect of the increase); or
- where we have agreed to reinstate the Policy after it was cancelled, the date on which we reinstate the Policy.
Depending on your answers to the health and lifestyle questions there may be other exclusions applied to the Policy which you will be advised of at the time of your application and which will be listed on your Policy Schedule.
Please refer to the PDS for further details.
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.
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.
Things you should know
^ 24/7 Medibank Nurse Phone Service is offered by Medibank Health Solutions Pty Ltd who reserve the right to withdraw or change the service at its sole discretion.
~ Medibank Starter Life Insurance is able to be purchased online for applicants aged 18 to 45, to a maximum of $250,000 in cover.
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.
Have questions?
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