Changes to ANZ Credit Card Complimentary Insurance

Matt Graham
ANZ Bank
Photo: Adobe Stock.

ANZ Bank is making some changes to the complimentary international travel insurance that comes with its Platinum and Black credit cards. The changes come into effect from 7 June 2024.

What’s changing?

The main change is that ANZ will now only provide cover to Platinum cardholders for trips of up to three months, rather than six months. This includes ANZ Frequent Flyer Platinum and ANZ Rewards Platinum cardholders. ANZ Black cards will still offer coverage for overseas trips of up to six consecutive months.

In addition, ANZ’s credit card travel insurance will no longer cover certain pre-existing medical conditions automatically. Cardholders may instead soon need to pay an assessment fee to get coverage for certain conditions.

Where an excess is applicable, this will increase from $350 to $500.

ANZ is changing some of the benefit limits payable on its credit card overseas travel insurance. For example, overseas emergency assistance and medical costs will soon be limited to $20 million (instead of being unlimited),

There are also a few other changes, which you can read about in the PDF document on the ANZ website.

The changes affect “insurable events” that happen on or after 7 June 2024.

ANZ credit card travel insurance is underwritten by Allianz.

How does this compare with other credit card travel insurance?

ANZ’s credit card travel insurance is still competitive, compared with other Australian banks. NAB, Westpac, St.George and Citibank similarly cover overseas trips of up to six months on their higher-end cards, and three months on their mid-tier cards.

You can see a comparison of the international trip insurance offered by all the major Australian banks in our guide to credit card travel insurance.

If you wish to travel for a longer time, CommBank’s Ultimate Awards and Smart Awards cards insure overseas trips of up to 12 months in duration.

In February 2024, CommBank changed the activation requirements on its credit card travel insurance policies.

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Matt Graham
The editor of Australian Frequent Flyer, Matt's passion for travel has taken him to over 90 countries… with the help of frequent flyer points, of course!
Matt's favourite destinations (so far) are Germany, Brazil & Kazakhstan. His interests include aviation, economics & foreign languages, and he has a soft spot for good food and red wine.

You can connect with Matt by posting on the Australian Frequent Flyer community forum and tagging @AFF Editor.
Matt Graham
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M MEL_Traveller Mar 18, 2024 #1

Actually, not ‘too’ bad!

Unlimited medical expenses is now capped at $20 million. (I have a feeling that if I incur $20 million in medical expenses I’ll have a lot more to worry about than whether I’m insured or not!!)

The excess is increasing from $350 to $500. Given inflation and price rises, not great, but understandable.

The trip duration is decreasing from 6 to 3 months. That’s ok for my personal travel plans.

General provisions have been inserted that ‘where reasonable’ you should contact the insurer *before* incurring any expenses so they can give approval. The ‘where reasonable’ is fair enough. And of course carves out any immediate emergency medical. But it clarifies spending on replacement airfares and the like until the insurer has a chance to discuss it with you, Which is fair, and standard in many other insurance policies.

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P Peregrine Mar 20, 2024 #2

Actually, not ‘too’ bad!

Unlimited medical expenses is now capped at $20 million. (I have a feeling that if I incur $20 million in medical expenses I’ll have a lot more to worry about than whether I’m insured or not!!)

The excess is increasing from $350 to $500. Given inflation and price rises, not great, but understandable.

The trip duration is decreasing from 6 to 3 months. That’s ok for my personal travel plans.

General provisions have been inserted that ‘where reasonable’ you should contact the insurer *before* incurring any expenses so they can give approval. The ‘where reasonable’ is fair enough. And of course carves out any immediate emergency medical. But it clarifies spending on replacement airfares and the like until the insurer has a chance to discuss it with you, Which is fair, and standard in many other insurance policies.

I reckon these changes seem to be mostly reasonable as far as they go, but they do make a significant material change to medical coverage. The changes remove cover for a range of pre-existing medical conditions, including asthma, allergies, diabetes, high blood pressure, high cholesterol, migraines and a range of others.

So, if you have any of these conditions, you have to now apply and pay for separate cover. If you don't you won't have cover for these and events that are related to these conditions.

For example, if you have a fall, heart attack, stroke - the insurer would look to see if these are related to for example, high blood pressure, high cholesterol and refuse cover.

I'm glad I've also got cover with the CBA credit card policy, as I won't be relying on the ANZ policy for cover.

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M MEL_Traveller Mar 20, 2024 #3

I reckon these changes seem to be mostly reasonable as far as they go, but they do make a significant material change to medical coverage. The changes remove cover for a range of pre-existing medical conditions, including asthma, allergies, diabetes, high blood pressure, high cholesterol, migraines and a range of others.

So, if you have any of these conditions, you have to now apply and pay for separate cover. If you don't you won't have cover for these and events that are related to these conditions.

For example, if you have a fall, heart attack, stroke - the insurer would look to see if these are related to for example, high blood pressure, high cholesterol and refuse cover.

I'm glad I've also got cover with the CBA credit card policy, as I won't be relying on the ANZ policy for cover.

Ok good pick up!!

I didn't see that had gone.

Hopefully cover for those, if managed, will be provided. I know that's subject to a $75 fee, but I have to pay that anyway for an existing matter. So the extras shouldn't cost more to include.

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Danger Mar 20, 2024 #4

Seems there's lots of 'You must call us' in the updates.

A $500 excess for luggage (s. 4.1) is ... excessive.

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P Peregrine Mar 21, 2024 #5

Seems there's lots of 'You must call us' in the updates.

A $500 excess for luggage (s. 4.1) is ... excessive.

A lot of these "you must call us" changes suggest that coverage under to the policy is at the discretion of the insurer.

In particular, the removal of coverage for a range of medical conditions and the exclusion of coverage for "a condition of which a reasonable person in the circumstances should have been aware of’" would leave cardholders wondering whether they had coverage under this policy or not.

For example, about 40% of the population has elevated blood pressure, cholosterol and related symptoms. As it would be reasonable for people to know this, the insurer could refuse cover for events arising from these conditions where cover has not been sought.

This comes in line with the reduction of a range of other benefits for Black card holders - eg lounge access, regular "Exclusive" events etc, such that I'm outa here.

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M MEL_Traveller Mar 21, 2024 #6

I don't believe that's the interpretation of what 'reasonably known' means. It's usually something you likely sought advice on, or should have sought advice on.

Not something speculative.

As for the 'call us'. Many insurance reviews - not ANZ in particular - are very negative because people incurred costs without understanding their policy.

If your flight is cancelled you can't normally just go and buy new ones and expect insurance to pay there's a process, and a duty to mitigate losses.

The additional wording helps manage expectations.

And it almost certainly won't affect a medical emergency.

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P Peregrine Mar 22, 2024 #7

I don't believe that's the interpretation of what 'reasonably known' means. It's usually something you likely sought advice on, or should have sought advice on.

Not something speculative.

As for the 'call us'. Many insurance reviews - not ANZ in particular - are very negative because people incurred costs without understanding their policy.

If your flight is cancelled you can't normally just go and buy new ones and expect insurance to pay there's a process, and a duty to mitigate losses.

The additional wording helps manage expectations.

And it almost certainly won't affect a medical emergency.

That's no doubt all true, but my main point still stands - these changes by ANZ remove cover for a range of objectively defined medical conditions, and conditions that may be arise from them

The test of whether a person gets coverage is now at the discretion of the insurer in determining whether or not the person should have know of the condition, or whether the event arose from conditions that were previously objectively defined and covered. Why can't they adopt a more transparent wording of other travel insurance contracts like "has required treatment in the last 12 months or ongoing treatment etc, so that everthing is clear and objectively determined.

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M MEL_Traveller Mar 22, 2024 #8

That's no doubt all true, but my main point still stands - these changes by ANZ remove cover for a range of objectively defined medical conditions, and conditions that may be arise from them

The test of whether a person gets coverage is now at the discretion of the insurer in determining whether or not the person should have know of the condition, or whether the event arose from conditions that were previously objectively defined and covered. Why can't they adopt a more transparent wording of other travel insurance contracts like "has required treatment in the last 12 months or ongoing treatment etc, so that everthing is clear and objectively determined.

Agree if they remove the commonly covered ore-existing conditions like asthma and high blood pressure (stable and under medical supervision) that is a reduction in cover. It will mean a payment of $75 for the assessment and to get covered. Still… relatively cheap for a three month policy! (although not as cheap as getting it ‘free’ on other credit cards… although i suspect they may follow,suit soon?)

If not automatically covered after the $75 assessment, the same interpretation of pre-existing still applies for other conditions.

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R Rayesfeg Apr 02, 2024 #9

Received notification of changes to the complimentary travel insurance included with ANZ Black and Platinum cards effective 7 June 2024. The changes do seem to devalue the cover for cardholders:

  • $500 excess. Previously this was $350 - i.e. about a 43% increase.
  • Overseas Medical/Emergency assistance is reduced from 'unlimited' to $20mil

I can't imagine ever getting close to the $20 mil medical assistance, however the change to excess is significant!

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_ _TheTraveller_ Apr 03, 2024 #10

I did see this as well. I asked Allianz (via the email on the website) for a new PDS but they couldn't provide me one. Not sure how I'm suppose to depend on this card without knowing what the future PDS would be?

What I have been more concerned about is the changes to the definition of "return overseas travel ticket" and whether this will limit the kind of crazy combinations (points + rev) we've been allowed. Again, I asked specifically about this change but nothing was provided.

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