Medibank Funeral Insurance

While Medibank's priority is helping Aussies live better by getting healthier, it understands that death is a fact of life. That's why it offers funeral insurance that will pay your family a lump sum to help with your funeral costs when you die.

You can take out cover from $3,000 to $15,000 and best of all, your premiums will go down by 3% every year as long as you hold the policy intact. Plus you get a host of other benefits thrown in, like accidental injury and terminal illness cover.

Get the latest deal from Medibank Funeral Insurance

Medibank Funeral Insurance Deal

Win a $1000 EFTPOS gift card. Plus, 10% off premiums for Medibank health members.

You could win a $1000 EFTPOS gift card when you get a Funeral Insurance quote by 2 Feb 2021. There’s a winner each week. Plus, Medibank health members save 10% every year. T&Cs apply

Last verified 4 Jan 2021

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Deal ends 3 Feb 2021

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Name	Product	Maximum Cover	Maximum Entry Age	Minimum Sum Insured	Premium wont increase with your age	Expiry Age
Medibank Funeral Insurance		$15,000	79	$3,000		No expiry age as long as premiums are paid	You could win a $1000 EFTPOS gift card when you get a Funeral Insurance quote by 2 Feb 2021. There’s a winner each week. Plus, Medibank health members save 10% every year. T&Cs apply.	Get quote View details	Compare	loading Fetching your data...

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Find out more about funeral protection cover

• Summary of Medibank Funeral insurance
• Who this is and isn't for
• Claims reputation

About Medibank

Medibank is one of Australia's most recognisable companies. While health insurance is where it made its name, Medibank has also been offering life, income protection and funeral insurance since 2007.

The company insures 3.7 million Australians across its entire product range and puts the health of all Aussies at the forefront of what it does. Its vision is "Better Health Better Lives" and it successfully supports Aussies in prevention, treatment and health management.

Medibank also has a strong history of sustainable corporate responsibility, supporting causes like Indigenous health equality, the fight against childhood obesity and the creation of a more environmentally-sustainable future.

World-leading insurance group Swiss Re Life & Health Australia Limited underwrites all of Medibank's life insurance and funeral cover products.

What are the highlights of Medibank's funeral insurance policy?

Medibank's funeral insurance will cover the cost of your funeral when you die, and it also includes a number of unique features that sets it apart from similar policies.

Some of the noteworthy features are:

• Death and accidental injury benefits. Your funeral insurance will pay you a lump sum equal to 3x your funeral benefit payout if you die or if you suffer an accidental serious injury such as permanent blindness or paralysis. While many life insurers will sell this to you separately, Medibank includes it.
• Terminal illness benefits. Medibank Funeral Insurance will pay you your benefit amount if you are diagnosed with a terminal illness at least 12 months after purchasing the policy or when a terminal illness diagnosis that was given in the first 12 months of the policy, has been reconfirmed.
• Financial hardship assistance. Keeping your policy current is important with life insurance products like funeral insurance. If you are having trouble keeping up with your payments, Medibank may agree to short-term assistance if you can show them proof of hardship.

Cover is provided for accidental death only in the first 12 months and then death due to any cause and diagnosis of a terminal illness thereafter.

How does Medibank Funeral Insurance provide value?

In addition to the benefits mentioned above, Medibank promises that you'll get real value out of your funeral insurance policy with the following guarantees:

• Your funeral premiums will never increase. As long as you don't change or cancel your cover, your premiums will never go up.
• In fact, your premiums will actually decrease. As long as your policy remains inforce without any changes being made to the cover, your premiums will actually lessen by 3% every five years.
• Your payout will be worth at least what you paid into the policy. If your policy is still in force when you die or are diagnosed with a terminal illness, Medibank will pay either your benefit amount or the total amount equal to every premium you've ever paid, whichever amount is higher.
• Your premiums are waived after age 90. If you make it to 90, you can remain covered without having to pay another cent in premiums!

Are there any loyalty discounts available?

Yes. Medibank will give you a 10% discount on your funeral insurance premiums if you also have private health insurance with them. Given that they are one of the largest health insurers in Australia, this makes it easy to bundle your policies.

When will a benefit be paid?

If your policy is current, Medibank will pay you the appropriate funeral benefit amount if you die, suffer a serious accidental injury or are diagnosed with a terminal illness.

However, within the first 12 months of buying the policy or reinstating a lapsed one, you will be covered for death or injury-related to accidents only. That means you won't be covered for things like suicide or a newly-diagnosed terminal illnesses. However, after those 12 months have passed, you will be covered for those situations including the re-confirmation of terminal illness diagnosis.

The accidental serious injury benefit also includes a number of exclusions. You will not be eligible for the accidental serious injury benefit if the injury happens due to the following:

You'll also not be eligible to claim for a funeral or accidental death if you've already received an accidental injury payout for the same accident.