Updates from Medibank Life Insurance on Coronavirus (COVID-19):  Find out more

Life Insurance

  • Cover up to $2.5m depending on your age and income
  • Early payment for terminal illness¹
  • Health members save 10% on premiums every year
Protect your family with Medibank Life Insurance

Help protect your family's future with Medibank Life Insurance

There’s nothing we wouldn’t do for our families. Which is why it’s surprising that only one in four Australian adults say they have life insurance.+

Medibank Life Insurance can be tailored to help ensure that your partner, kids and relatives will get by should the unexpected happen. 

Explore our life insurance cover options and see if you can help protect your loved ones in just a few clicks.

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Cover for up to $2.5m

You could be covered for up to $2.5 million, depending on age and income.

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Tailor your policy

Choose to tailor your policy with our optional benefits for Trauma cover and Permanently Unable to Work cover.

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Easy application

You could be covered in just one phone call, subject to approval.

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Member discount

10% discount on premiums for Medibank health members.

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Continuous cover

Even as your circumstances change, your Life Insurance policy will renew provided premiums are paid.*

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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.^

Cover for a range of scenarios

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Accidental injury benefits

Designed to help you cope financially while you recover.

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Early payment for terminal illness

Receive a lump sum benefit where a terminal illness is diagnosed and life expectancy is 12 months or less.

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Major life events

Your benefit can be increased for some major life events such as when you get married or buy a house.

Tailor your Medibank Life Insurance cover

Match the cover you want to the lifestyle you love. You can take out life cover and add any of the following options.

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Trauma Cover

Apply for a benefit of up to $500,000 if you suffer a specified condition like Cancer (excluding specified early stage cancers), a stroke, or a severe heart attack.

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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.  

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 want. Try the Medibank Life Insurance Calculator. 

Medibank Life Insurance Calculator

Understanding Life Insurance

What is life insurance?

Life insurance will pay your chosen beneficiaries a lump sum amount if you pass away or pay you if you are diagnosed with a terminal illness and have 12 months or less to live. However, there’s more to the story. You can also insure yourself against total and permanent disabilitymajor illness and injury; or loss of income.

Learn more

How much life insurance should you consider?

Everyone's life is different, so you'll need to take the time to analyse what you want to protect. If you're not sure, it may be best to talk to a financial advisor. Medibank's Life Insurance Calculator can help you take the first step to work out how much life cover you may want to consider.

When to consider life insurance?

Getting married, starting a new job, having a baby or buying a new house? A good time to consider life insurance can be before major life changes that mean the wellbeing of people you care about could be directly affected by what happens to you. This may also be a good time to reassess any existing life insurance policies to see if it’s still a good match for your needs.

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Why choose Medibank Life Insurance?

 Medibank Life Insurance can provide 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. You'll also get access to the 24/7 Medibank Nurse phone service^ from the day you join. Chat to experienced and qualified nurses over the phone to discuss any health questions or concerns and get professional advice on what to do next.

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Guaranteed renewal

Even as your circumstances change, your Life Insurance policy will renew provided premiums are paid.*

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Fast approval

Apply for a policy in just one call or buy Starter Life Insurance online.~

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Member discount

10% discount for Medibank health insurance members.

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Help on hand

Get access to the 24/7 Medibank Nurse phone service.^ Call 1800 325 211 at any time.

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.

Learn more about Starter Life Insurance

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Want to learn more about life insurance?

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Life insurance Australia: fact vs fiction

If you’ve looked into getting life insurance but haven’t been able to make a decision, you’re not alone. It’s easy to be overwhelmed by all the information you see and hear.

Read full article


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Do I need life insurance in Australia?

Your car insurance renewal arrives and you pay it, without question. It makes sense to be protected from the unexpected. But what about insuring you?

Read full article


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When to consider life insurance 

Wherever you are in life, whether you’re looking to start a family, advance your career or buy a home, having the right insurance can help protect and maintain quality of life.

Read full article


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Young people and life insurance

As a young person, the topic probably isn’t something you've given much thought to. The first step is understanding how life insurance works.

Read full article


Still got questions?  We've got the answers

How do I find out more?

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Want to talk to someone?

Whatever your life stage or circumstance, we're here to help. Call us on 1300 722 568, we are open Monday to Friday from 8:00am to 8:00pm.

Give us a call

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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.   

Learn more

Help & Resources

Find more information and resources to help you make the most of your life insurance or funeral insurance.

Find out more

Things you should know

¹ Receive a lump sum benefit where a terminal illness is diagnosed and life expectancy is 12 months or less.

+ Source: Finder Consumer Sentiment Tracker, January 2021.

* Optional Trauma and Unable to Work cover will expire at age 65.

^ 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), Target Market Determination 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.

For more information about how Medibank handles your personal information see our Privacy Policy. The Privacy Collection Notice provides more information about our partner’s privacy practices and policy.

Have questions?

Our team of experts are ready to help!

Enter your postcode to find your nearest store to have a face-to-face chat!

Fill in the form below or get in touch by calling our dedicated line 1300 110 086.
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