How do I make a claim for Medibank life insurance products?

There are 4 key points to keep in mind for the claims process, as follows: If you (or your legal representative) wish to make a claim under a Medibank life insurance policy, you must complete and lodge a claim online. Medibank provides a dedicated claims consultant to assist you with the claims process. It's important that you lodge your claim as soon as possible after the claimable event. You will also need to provide proof that the insured event occurred. The proof required varies depending on the nature of your claim, but includes all relevant test, examination and laboratory results. Speak to Medibank directly for more detail on how the claims process works.

What are some of Medibank's policy exclusions?

All policies have exclusions. For example, Medibank won't pay out as a result of suicide occurring within 13 months of taking out a policy. Trauma insurance (also known as 'critical illness ' cover) won't pay out for cancer, strokes, open-heart surgery or heart attacks within 90 days of you taking out cover. Read Medibank's PDS (Product Disclosure Statement) for each policy so you understand the full list of exclusions.

How many beneficiaries can I nominate under my Medibank Life Insurance policy?

You can nominate up to 5 beneficiaries. Read more on the rules around life insurance beneficiaries.

Is my Medibank Life Insurance sum insured protected against inflation?

Yes. Benefit amounts automatically increase by 3% on each policy anniversary.

What factors affect the cost of Medibank Life Insurance premiums?

Your premium amount is determined based on your age, sum insured, any additional options you add to your policy, your gender, your smoking status, your health, family history, occupation and any hazardous activities you participate in.

Who underwrites Medibank life insurance policies?

Medibank life insurance policies are underwritten by Zurich Australia Limited

Medibank Life Insurance Review 2026

No reviews yet. Write a review

Medibank offers life cover up to $2.5 million, which is a high limit compared to other providers.
Medibank health members receive a 10% annual discount on their life insurance premiums.
Benefit amounts automatically increase by 3% annually, protecting cover from inflation.

You can be covered for up to $2,500,000 – the third highest of 10 insurers compared for the 2023 Finder Awards.
Increase the amount you're covered for after a big life event without taking a health or medical questionnaire.
Score a 10% discount if you're already an Medibank Health Insurance member.

You can't get level premiums, a cover type where the payout remains the same during the term of your policy.

Go to site

Maximum Cover

$2,500,000

Maximum Age

Total & Permanent Disability Cover

Trauma Cover

Compare key features of Medibank life insurance and get a quote today

Finder Score	Maximum Cover	Funeral Benefit	Optional TPD Cover	Optional Trauma Cover
Finder score 9 Excellent Medibank Life Insurance	Finder score 9 Excellent	Maximum Cover $2.5 million	Funeral Benefit $15,000	Optional TPD Cover $1.5 million (maximum cover)	Optional Trauma Cover Yes	Discount: Get a 10% discount if you're already a Medibank Health Insurance member. T&Cs apply.	Our verdict: Medibank offers a higher payout limit ($2.5 million) than 15 other providers. It also won Most Loved, Best Value and Legendary Service categories in the Finder 2025 Customer Satisfaction Awards.	Get Quote View details Compare product selectionCompare	loading
Finder score Not scored yet Medibank TPD Insurance	Finder score Not scored yet	Maximum Cover $1.5 million	Funeral Benefit $0	Optional TPD Cover	Optional Trauma Cover Yes	Secure up to $1.5 million in TPD cover by choosing Medibank. This was more than 7 other providers (out of 14) we reviewed. Medibank health members can score 10% off their life insurance premiums.	Get Quote View details Compare product selectionCompare	loading
Finder score Not scored yet Medibank Critical Illness Cover	Finder score Not scored yet	Maximum Cover $1 million	Funeral Benefit $0	Optional TPD Cover	Optional Trauma Cover Yes	Get a quote for up to $1,000,000 in Critical Illness Cover.	Get Quote View details Compare product selectionCompare	loading

Finder Score - Life Insurance

Life Insurance is a little complicated and a lot overwhelming. That's why we made the Finder Score, to make it easier to compare Life Insurance products against each other. Our experts analysed over 30 products and gave each one a score out of 10.

But a higher score doesn't always mean a product is better for you. Your situation is unique, so your policy choice will be too. Don't think of Finder Score as the final word, but as a good place to start your life insurance comparison.

Read the full methodology

Get the latest deal from Medibank Life Insurance

1 of 1 result

Name
10% off premiums for Medibank health insurance members Medibank health insurance members save 10% every year. T&Cs apply. Get deal Get deal		loading Fetching your data...

Showing 1 of 1 result

Why compare life insurance with Finder?

You pay the same price as buying directly from the life insurer.
We're not owned by an insurer (unlike other comparison sites).
We've done 100+ hours of policy research to help you understand what you're comparing.

Read a more detailed review on:

Life Insurance
Cover Perks

life insurance shield

Life Insurance

Key points of Medibank Life Insurance

Medibank Life Insurance is a product designed for Australian residents aged from 18 to 70 that meet Medibank's health and lifestyle requirements.

Get covered for up to $2,500,000 if you die or are diagnosed with a terminal illness. Your available cover will depend on your age. Medibank's maximum cover limit may be available to those aged 18-45.
Tailor your policy with optional cover such as TPD insurance (pays up to $1.5m), critical illness cover (up to $1m) and child cover (up to $200,000).
Indexation benefit. You benefit amount will automatically increase by 3% increase annually, in order to account for inflation.
Medibank's grief support benefit could help your family to cope during a challenging time.
You could be approved online or over the phone.

Note: Be sure to check the Product Disclosure Statement (PDS) for terms and conditions.

coverage icon

Cover perks

All Medibank cover types come with:

A 10% discount for Medibank health members.
Worldwide cover that applies 24 hours a day, 7 days a week.

Find better life insurance

Take our easy quiz to find a better deal for you.

How much cover can I get with Medibank?

The amount of cover you can apply for varies depending on your age and income, as shown in the table below:

Age at application	Life Cover	Total and permanent disability	Critical illness cover
18-45	$2,500,000	$1.5 million	$1,000,000
46-55	$1.5 million	$1 million	$500,000
56-60	$750,000	$500,000	N/A
61-70	$500,000	N/A	N/A

Am I eligible for Medibank life insurance products?

Type of life insurance	Age criteria	Other features
Medibank Life Insurance	18-70	Further terms apply if you add TPD and/or Trauma Cover (critical illness) to your policy.

Questions you've asked about Medibank, answered ✅

There are 4 key points to keep in mind for the claims process, as follows:
- If you (or your legal representative) wish to make a claim under a Medibank life insurance policy, you must complete and lodge a claim online.
- Medibank provides a dedicated claims consultant to assist you with the claims process.
- It's important that you lodge your claim as soon as possible after the claimable event.
- You will also need to provide proof that the insured event occurred. The proof required varies depending on the nature of your claim, but includes all relevant test, examination and laboratory results.
Speak to Medibank directly for more detail on how the claims process works.
All policies have exclusions. For example, Medibank won't pay out as a result of suicide occurring within 13 months of taking out a policy. Trauma insurance (also known as 'critical illness ' cover) won't pay out for cancer, strokes, open-heart surgery or heart attacks within 90 days of you taking out cover.
Read Medibank's PDS (Product Disclosure Statement) for each policy so you understand the full list of exclusions.

Compare other products from Medibank

Sources

Thank you for your feedback!

Written by

James Martin

Journalist

Add to Preferred Sources

James Martin was the insurance editor at Finder. He has written on a range of insurance and finance topics for over 7 years. James often shares his insurance expertise as a media spokesperson and has appeared on Prime 7 News, Insurance News, 7NEWS and The Guardian. An experienced journalist, James' work has featured in publications including The Irish Times, Companies100 and In Business. He holds a Tier 1 General Insurance (General Advice) certification and a Tier 1 Generic Knowledge certification, both of which meet the requirements of ASIC Regulatory Guide 146 (RG146). See full bio

James's expertise

James has written 167 Finder guides across topics including:

Car, home, life, health, travel and pet insurance
Managing the cost of living
Money-saving tips

More resources on Finder

More guides on Finder

Best life insurance in Australia October 2026
Read our comprehensive guide to finding the best life insurance policy for your situation.
Term Life Insurance in Australia
Find out how term life insurance actually works and receive quotes for cover securely.
ahm life insurance review
Read our comprehensive review of ahm Life Insurance to find out if it's right for you.
Personal insurance
Personal insurance provides security against the unfortunate events in life including serious illnesses and death.
HCF Life Insurance review
With HCF life insurance products, you can benefit from flexibility and peace of mind given the range of policies to choose from.
NEOS Life insurance
NEOS life insurance is the new provider aiming to make insurance easier, simpler and better. See if it’s right for you.
ClearView Life Insurance Review
Is ClearView life insurance the right option for you? Find out with our latest review.
Life insurance for farmers
Are you a farmer? See how life insurance for farmers can protect you and your family.
The cost of raising children in Australia
Find out how life insurance can cover your children in case anything happens to you.
Australian Seniors Life Insurance Review
Review the Australian Seniors Life and compare options available.

Medibank Life Insurance Review

Medibank life insurance can cover you for up to $2.5m, which should meet the needs of many. Plus, if you're a Medibank health insurance member, you'll save 10% on premiums each year.

Key takeaways

Our verdict