In this guide

  • Our verdict
  • Details
    • Product details
  • Get the latest deal from Medibank Income Protection
  • Finder's verdict
  • Your reviews
  • Ask a question
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Medibank income protection review

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Medibank Income Protection
Maximum % of income Covered
70%
Maximum Monthly Benefit
$12,500
Maximum Entry Age
55
Maximum Benefit Period
5 years

Our verdict

Yes, Medibank does income protection too. You can get up to $12,500 a month.

Medibank's policies are issued by Zurich (read one of the world's biggest insurers) which means they come with a lot of experience. Compared to others, it's a pretty clear and easy to understand policy, which we like – though there are more flexible policies out there.

Pros

  • Get up to $12,500 a month. Many insurers cap at $10,000
  • Covers 70% of your monthly pre-tax income. This is standard among most brands.
  • Good for Medibank health customers. You get 10% off every year.

Cons

  • Benefit limit of up to 5 years. Some insurers can cover you up to the age of 65.
  • 30 or 90 days waiting periods. Lots of insurers have more options.

In this guide

  • Our verdict
  • Details
    • Product details
  • Get the latest deal from Medibank Income Protection
  • Finder's verdict
  • Your reviews
  • Ask a question

Medibank’s policies are issued by Zurich (read one of the world’s biggest insurers) which means they come with a lot of experience. Compared to others, it’s a pretty clear and easy to understand policy, which we like – though there are more flexible policies out there.

Details

Product details

Maximum Monthly Benefit $12,500
Maximum % of Income Covered Up to 70%
Maximum Benefit Period 5 years
Minimum Entry Age 18
Tax-deductible Premiums
Maximum Entry Age 55
Benefit Period Options 2 or 5 years
Minimum Waiting Period 30 days
Expiry Age 65
Minimum Hours Eligibility 20
Cooling-off (days) 30
Children's Insurance Option
Death Cover
Redundancy Cover
Online quote offered?
Premium Structures Offered Stepped
Underwriter Zurich Australia Limited
Seller NEOS Direct

Get the latest deal from Medibank Income Protection

Deal

Medibank health members save 10%

If you’re a Medibank health member, you can enjoy a 10% policy discount annually.

Finder's verdict

Medibank income protection could be good for you if you're also a Medibank health insurance member. You get 10% off though its policies can be more expensive than some brands, according to our research. If you want a longer benefit limit or more waiting period options though, it's worth looking at other options.

Your reviews

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Ask a question

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Gary Ross Finder

Editor, Insurance & Innovations

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