Save 10% on Medibank Income Protection
One more reason to help protect what you live for. Apply by 10 December to save 10% on your first year's premium.* Plus, Medibank health members enjoy an extra 10% off every year. Choose a sum insured of up to 70% of your monthly pre-tax income (up to $12,500 per month, depending on your age).¹
Get a quick quote Call 1300 152 271
Help protect the life you're building, with Medibank Income Protection
Income protection is a form of life insurance that can provide you with monthly payments called benefits, if you’re unable to work due to sickness or injury.
The monthly benefits can help you keep up with cost-of-living expenses, like paying your rent, mortgage repayments and everyday bills so you can focus on your recovery.
You can choose either a two or five year benefit period, which is how long you want the monthly benefits to be paid, depending on your personal circumstances. Medibank Income Protection is designed to help protect the life you're building.
Award winning income protection
Proud to be winners of WeMoney's 2024 Award - Best for Value (Income Protection).
Why choose Medibank Income Protection?
A Medibank Income Protection policy lets you tailor cover based on your individual needs.
No medical tests required to apply
No medical examinations or blood tests required to apply.
Income protection premiums are generally tax deductible
Seek advice from your accountant to see if this applies to you.
Access to Medibank 24/7 Nurse
Income protection policy owners can speak with a registered nurse over the phone or online with 24/7 Medibank Nurse Support at no extra cost.# Call 1800 644 325 or chat online anytime of the day or night, 7 days a week.^
Medibank health members save 10%
Medibank health members save 10% every year on their income protection premiums.
What does Medibank Income Protection include?
For a full list of policy benefits, make sure to read the PDS.
Important details to know
Description of benefits and exclusions below are not a comprehensive list of your cover inclusions or exclusions. For full details, make sure to read the PDS.
What's not covered?
There are circumstances where a benefit isn't payable such as if you're disabled as a result of participating in criminal activities or travel to an overseas location against the advice of the Australian Government.
Check the PDS for more information and additional exclusions.
Benefits being paid are also dependent on:
- Following the reasonable advice of a medical practitioner
- Them not being prohibited by sanctions, taxation, financial crimes or laws.
Read the PDS for more information.
Waiting Periods and Benefit Periods
- A Waiting Period is the minimum amount of time you must be totally or partially disabled as a result of an illness or injury before you can claim a benefit from your income protection policy. During the application process you can choose either a 30 or 90-day Waiting Period.
- Your Benefit Period is the maximum amount of time you can be paid a monthly benefit for one illness or injury. During the application process you can choose between 2 or 5 years.
- A monthly benefit will be paid until: the end of your disability, the unreasonable refusal of reasonable medical treatment to reduce your disability, or you have been outside of Australia for three continuous months. To see all events that could end your monthly benefits, see the PDS.
How to apply for Medibank Income Protection?
If you're an Australian resident aged between 18 and 55, you can apply for cover online or over the phone. No medical (or blood) tests needed to apply.1
1. Get a quick quote online
You can get a quick quote online or call 1300 152 271 to talk to us.
2. Tailor your income protection policy
Choose a benefit period of 2 or 5 years and a waiting period of 30 or 90 days.
3. Purchase online or over the phone
If approved, you can purchase Medibank Income Protection on the same day.
Frequently asked questions
More about income protection
Want to talk to us?
Whether you're looking for a new quote or have a question about income protection, we're here to help. Call us Monday to Friday from 8:00am to 8:00pm AEST/AEDT.
Things you should know
1 Eligibility criteria apply. Pre-tax income is defined in the PDS.
2 Premiums will increase in line with the increased level of insurance.
3 Choose a benefit period of 2 or 5 years and a waiting period of 30 or 90 days.
# Some referred services may involve out of pocket costs and waiting periods may apply.
^ 24/7 Medibank Nurse phone service is a separate service offered by Medibank Health Solutions Pty Ltd when you purchase Medibank Life Insurance. Medibank Health Solutions reserve the right to withdraw or change the service at its sole discretion at any time.
This includes a description of benefits, for full terms and conditions refer to the PDS.
* First year discount Terms & conditions
Offer starts 12.01am AEDT on 23 October 2024 and ends 11.59pm AEDT on 10 December 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.
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.