Save 10% on Life Insurance & Income Protection!

Apply by 1 July to save 10% on your first year’s premium! See T&Cs*. Plus, Medibank health members enjoy an extra 10% off every year.

Medibank health members save 10% on life, income and funeral insurance

Insurance designed to support you and your loved ones

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Life insurance

Medibank Life Insurance helps support your family when you can't. Apply for life cover up to $2.5 million, depending on your age and income. You can also tailor your life cover with optional benefits.

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Income protection

Medibank Income Protection provides regular payments during your benefit period to replace some of your income if you're unable to work due to illness or injury.*

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Multi-award winning life insurance

Proud winners of WeMoney's 2024 Award - Outstanding Customer Service (Life Insurance) and the 2023 Plan For Life Innovation - Customer Service award.

Life and income protection insurance: What's the difference?

Insurance can be one way of protecting yourself, your family and loved ones when life changes unexpectedly. It can give you some peace of mind knowing that if the unexpected happens, there’s help to fall back on.

Products like life insurance and income protection are often grouped together under the umbrella of ‘life insurance’, but provide different coverage for a range of scenarios.

Life insurance can assist with the financial burden left behind to help you and your family meet living expenses if you suffer a terminal illness# or in the event that you pass away.

Income protection can be your back-up plan if you fall ill or are injured and can’t continue your duties for work for an extended period of time. It can provide you with a monthly benefit as a percentage of your regular income to help you maintain your way of living. 

Why choose Medibank Life and Income Protection Insurance?

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Member discount

Medibank health members save 10% on life insurance & income protection insurance.

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Easy application

Apply online or over the phone, no medicals or blood tests required.

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Claims support

A dedicated claims consultant will be assigned to you by the insurer to support you through the claims process.

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.

Things you should know

* Eligibility criteria apply. 

# 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.

First Year Discount Terms & Conditions

* Offer starts 12.01am AEST on 7 May 2024 and ends 11.59pm AEST on 1 July 2024 (Promotion Period). Customers who purchase a Medibank Life Insurance or Medibank Income Protection policy for the first time (Eligible Policy), either online or over the phone during the Promotion Period will receive a 10% discount (Discount) on the premiums payable during the first 12 months their policy is in force. 

The Discount will also apply to any customers who start or resume their application of an Eligible Policy, during the Promotion Period, and then complete the purchase of the same application prior to that application expiring. 

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 the Promotion Period (TPD Cover, Critical Illness Cover or Child Cover), 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. The two discounts combined amount to a total of 20% off the first year’s premiums. Medibank health members continue to receive 10% off their premium every subsequent year, for so long as their health membership is maintained. All discounts are applied to the annualised premium amount and before the deduction of all applicable taxes. 

The Discount will end on the first policy anniversary date. 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. We reserve the right to change the Promotion Period of the Discount. The Discount only applies if it is shown on the quote provided when applying. Not available with any other offer except for the Medibank health member discount.

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