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.
Medibank income protection review
- 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.
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 a quote for Medibank Income Protection
What different scores mean
9+
Excellent
These products offer great value, with a good score across both features and price.
7+
Great
These are competitive products, though they didn't quite get top scores.
5+
Standard
These products might offer less value or command a higher premium than others in the market.
0+
Basic
These products might only offer a basic set of features or aren't very competitive on price.
Compare alternatives
We currently don't have a partnership for that product, but we have other similar offers to choose from (how we picked these ):
Finder Score - Income Protection
Income Protection 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 12 products and gave each one a score between 1 and 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 full Finder Score methodology
Get the latest deal from Medibank Income Protection
Deal
Save 10% on your first year
When you apply by 10 December 2024. T&Cs apply.
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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Gary Ross Finder
Editor, Insurance
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