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
Why choose Medibank Income Protection Insurance?
Income protection insurance can help you with your finances so you're able to stay on top of bills and focus on your recovery from sickness or injury.
Did you also know income protection insurance premium is generally tax deductible? Check with your accountant to see if this applies to you. In addition, you have the option of paying fortnightly, monthly or yearly (lower premium when you pay yearly).
Monthly benefits
Cover up to 70% of your monthly pre-tax income, up to $12,500 per month (depending on your age).1
Tailor your policy
Choose a benefit period of 2 or 5 years and a waiting period of 30 or 90 days to suit your needs.
Member discount
Medibank health members save 10% every year.
Easy application
You can apply easily online or over the phone.
Award winning income protection
Proud to be winners of WeMoney's 2024 Award - Best for Value (Income Protection).
Understanding income protection insurance
What is income protection insurance?
Income protection insurance can be your back-up plan if you are unable to work due to sickness or injury. Income protection provides a monthly benefit as a percentage of your regular income, so you’re not left high and dry if you’re unable to work.
Why do you need income protection?
Everyone’s reason for taking out income protection insurance is different. You could have financial commitments (e.g. mortgage and loan repayments) or have dependants that rely on your income for everyday living expenses. Income protection can provide you with some peace of mind that you'll be able to continue to take care of yourself and your loved ones, even if you couldn't work due to sickness or injury.
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.
^ 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.
* 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.
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