diff --git a/roles/ceems_lb/defaults/main.yml b/roles/ceems_lb/defaults/main.yml
index 0238359..ffc64ed 100644
--- a/roles/ceems_lb/defaults/main.yml
+++ b/roles/ceems_lb/defaults/main.yml
@@ -1,5 +1,5 @@
 ---
-ceems_lb_version: 0.2.1
+ceems_lb_version: 0.3.1
 ceems_lb_binary_local_dir: ""
 ceems_lb_binary_url: https://github.com/{{ _ceems_lb_repo }}/releases/download/v{{ ceems_lb_version }}/ceems-{{ ceems_lb_version }}.linux-{{ go_arch }}.tar.gz
 ceems_lb_checksums_url: https://github.com/{{ _ceems_lb_repo }}/releases/download/v{{ ceems_lb_version }}/sha256sums.txt
diff --git a/roles/ceems_lb/meta/argument_specs.yml b/roles/ceems_lb/meta/argument_specs.yml
index 6d54b82..8d33198 100644
--- a/roles/ceems_lb/meta/argument_specs.yml
+++ b/roles/ceems_lb/meta/argument_specs.yml
@@ -10,7 +10,7 @@ argument_specs:
     options:
       ceems_lb_version:
         description: CEEMS Load Balancer package version. Also accepts latest as parameter.
-        default: "0.2.1"
+        default: "0.3.1"
       ceems_lb_skip_install:
         description: CEEMS Load Balancer installation tasks gets skipped when set to true.
         type: bool