Why Medibank Life Insurance

Why choose Medibank Life Insurance?

Medibank Life Insurance is here to help you protect the ones you love most.

If you need to help cover the mortgage, contribute to school fees, or help pay for everyday expenses, Medibank Life Insurance can help provide financial security if you're no longer here to provide, or are diagnosed with a terminal illness.¹

Medibank health members save 10%

Medibank health members save 10% every year on their life insurance premiums.

Cover for up to $2.5m

Depending on your age and income, you can apply for up to $2.5m in Life Cover.

Tailor your cover

Tailor your insurance with additional cover options like Critical Illness, Total and Permanent Disability or Child Cover.²

No medicals required to apply.

No medical examinations or blood tests, required to apply. Apply online in under 15 minutes.

Get a quick quote Call 1300 152 271

Award-winning life insurance. Proud to be winners of Most Loved, Top Value and Legendary Service in the 2025 Finder Awards for Life Insurance - Direct.

Frequently asked questions

How much life insurance do I need?

The amount of cover you may need depends largely on your personal circumstances. When determining the appropriate amount and types of cover for you and your loved ones, you should take into consideration financial commitments such as a mortgage, rent, car or personal loans, along with day to day living expenses such as groceries, power bills or school fees. With Medibank Life Insurance, you can reach out to adjust your cover when your circumstances change. For advice specific to your situation, speak to a financial adviser.

Can I get life insurance if I have existing health conditions?

When to get life insurance?

What am I not covered for?

There can be a number of reasons a Medibank Life Insurance policy is not paid out, these can be:

Any claim as a result of travel to a location subject to a travel advisory warning issued by the Australian Government.
The event giving rise to the claim is caused or contributed to by suicide, attempted suicide or any other self-inflicted injury within 13 months of the cover starting, restarting or for any increase (other than indexation) from when the increase occurs.
If an increase occurs under the Future Increase Benefit, within the first six months, benefits are only payable in relation to the increased amount if the cause of the claim is related to an accident. Other criteria also apply.
Payment of a Terminal Illness Benefit is dependent upon the insured person having followed the reasonable advice of a medical practitioner.

Refer to the PDS for a full list of conditions and exclusions. Additionally, specific exclusions may be applied to your cover based on the information you provide to us when you apply for cover.

Want to add some extra cover to your life insurance?

You can add additional insurances like income protection, or add-on cover like Total and Permanent Disability, Critical Illness or Child Cover. These additional Covers can help tailor your insurance policy.

Total Permanent Disability Cover

Total and Permanent Disability (TPD) Cover can provide up to $1.5m in cover, to help you focus on treatments and rehabilitation when you need it most.³

Critical Illness Cover

Critical Illness Cover can provide a benefit up to $1m if you suffer a critical illness.⁴

Child Cover

Child Cover can provide up to $200,000 to help protect your child if they were to suffer a traumatic illness or event.⁵

Help protect your income

Income Protection

Income Protection is a separate product and is not an add-on to Life Cover. Income Protection is designed to help cover your income if you can't work due to illness or injury. Choose a sum insured of up to 70% of your monthly pre-tax income (up to $12,500 per month, depending on your age).⁶

Life Insurance man woman and baby on the couch

Want to talk to us?

Whether you're looking for a new quote or have a question about life insurance, we're here to help. Call us Monday to Friday from 8:00am to 8:00pm AEST/AEDT.

Call 1300 152 271

Things you should know

¹ Lump sum payable if you suffer a terminal illness and your life expectancy is 12 months or less. For the definition of terminal illness, please refer to the PDS.

² Eligibility criteria apply, please refer to the PDS.

³ For details on the optional TPD Cover, including definitions and eligibility criteria, please refer to the PDS.

⁴ For details on the optional Critical Illness Cover, including definitions and eligibility criteria, please refer to the PDS.

⁵ For details on the optional Child Cover, including definitions, qualifying periods and eligibility criteria, please refer to the PDS.

⁶ Eligibility criteria apply. Pre-tax income is defined in the PDS.

One month free terms & conditions

*Offer starts 12.01am AEDT on 2 December 2025 and ends 11.59pm AEDT on 2 February 2026 (Promotion Period). Offer provides new customers with one month free in their first policy year (Discount) when they purchase Medibank Life Insurance and/or Income Protection Insurance and provide the promo code MB1MF at the time of application to purchase (Eligible Policy), either on-line or over the phone, during the Promotion Period.

The Discount will also apply to any new customers who start a quote or resume their application of an Eligible Policy during the Promotion Period, provide the promo code MB1MF and then complete the purchase of the same quote or application prior the end of the Promotion Period. Where a customer purchased an Eligible Policy prior to or during the Promotion Period, and then adds additional cover types via a separate application during or after the Promotion Period (Life, TPD Cover, Critical Illness Cover, Child Cover or Income Protection), the Discount will not apply to these additional cover types.

Where a customer is a Medibank health member, the Discount is in addition to the standard 10% health member discount. Medibank health members continue to receive 10% off their premium every subsequent year, for the period that their health membership is maintained. The period that the Discount applies for will not change or extend despite the use of the Premium and Cover Pause Benefit, or the waiver of premiums in relation to an Income Protection claim (as outlined in the relevant PDS).

All terms and conditions, waiting periods, limitations and exclusions will apply to all cover purchased in accordance with the relevant PDS. Medibank Life Insurance reserves the right to withdraw, vary or extend the Discount at any time, without notice. The Discount only applies if it is shown on the quote and/or application provided when applying. Not available with any other offer except for the Medibank health member discount.

Life Insurance

Medibank Life Insurance and Medibank Income Protection (collectively Medibank life insurance) are issued by the insurer, Zurich Australia Limited ABN 92 000 010 195 AFSL 232510 (Zurich). NEOS Direct, a registered business name of NDLI Pty Ltd ABN 70 665 747 277 AFSL 547119, distributes and services Medibank life insurance, which is promoted by NEOS Direct's authorised representative Medibank Private Limited ABN 47 080 890 259 (AR No. 286089) (Medibank).

Any advice provided is general only and doesn’t consider your objectives, financial situation or needs. You should consider these factors, the appropriateness of the advice, and carefully read the relevant Product Disclosure Statement (which sets out the product terms, conditions and exclusions), Target Market Determination and Financial Services Guide before making a decision to acquire, or continue to hold, the product.

Your personal information will be handled in accordance with the Privacy Policies of the parties involved. Click here for NEOS Direct's Privacy Policy, Medibank Private's Privacy Policy or Zurich's Privacy Policy.

Get one month free on Medibank Life Insurance if you apply and get cover before 2 February.* Use code MB1MF.

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