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Cover tailored to protect the life you've built
Whether it’s your partner, kids or parents, how long would they keep going if you suffered a heart attack, were diagnosed with cancer, or passed away in an accident? Medibank Life Insurance lets you tailor your cover based on your needs and lifestyle. This means you could ensure that the school fees get paid, the house stays with your family, and a tragic situation isn't made worse.
Cover for up to $2.5m
You could be covered for up to $2.5 million, depending on age and income.
Tailor your policy
Choose to tailor your policy with our optional benefits for Trauma cover and Permanently Unable to Work cover.
Fast approval
You could be covered in just one phone call, subject to approval.
Member discount
10% discount for Medibank health insurance members.
Guaranteed lifetime renewal
Even as your circumstances change, your Life Insurance policy will renew provided premiums are paid (optional Trauma and Unable to Work cover will expire at age 65).
Help on hand
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^.
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.
Cover for a range of scenarios
Accidental injury benefits
Designed to help you cope financially while you recover.
Early payment for terminal illness
Receive a lump sum benefit where a terminal illness is diagnosed and life expectancy is 12 months or less.
Major life events
Your benefit can be increased for some major life events such as when you get married or buy a house.
Cover options
Match the cover you want to the lifestyle you love. You can take out life cover and add any of the following options.
Trauma Cover
Apply for a benefit of up to $500,000 if you suffer a specified condition like cancer (excludes early stage cancers), a stroke, or a severe heart attack.
Permanently unable to work cover
Apply for a benefit of up to $1.25 million if an accident or medical condition means that you’ll be unable to work in an occupation you’re suited for.
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 are open Monday to Friday from 8:00am to 8:00pm.
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.
Looking for something simpler?
We also have the option of Starter Life Insurance~. Life cover that can be bought immediately online.
Get simple and hassle free life insurance without a lengthy application process.
We’ve got your questions answered
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.
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.
± Aus. res. 18+ only. Starts: 12:01 am AEDT 11/11/20. Ends 11:59pm AEDT 2/2/21. See T&Cs for entry limits. Draws: 2:30pm AEDT, 23/11/20, 30/11/20, 7/12/20, 14/12/20, 11/1/21 (4 draws), 18/1/21, 25/1/21, 1/2/21, 8/2/21 at L4/411 Collins Street, Melbourne VIC 3000. Prizes: 12 x $1,000 EFTPOS gift cards (1 per draw). Winners published at https://plexus.co/docs/lifeinsurancewinners.pdf on 19/02/21. Promoter: Medibank Private Limited ABN 47 080 890 259, L 4, 720 Bourke St, Docklands VIC 3008. See https://www.plexus.co/terms/medibank-life-insurance-1000-gift-card-promotion for Terms and Conditions. ACT Permit No. TP2/01376, NSW Authority No. TP20/00392 and SA Permit No. T20/1240.
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