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 2024 Finder Awards for Life Insurance - Direct.

Most Loved - Finder Awards 2024 Life Insurance - Direct

Top Value - Finder Awards 2024 Life Insurance - Direct

Legendary Service - Finder Awards 2024 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 seperate 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.

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.

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