10,000 Bonus Points With New OnePath/ANZ Life Insurance

[burmans]

They have to remember that a lot of us would have never have signed up if it were not for the points.
So really they got some easy money from us that would have never have purchased this kind of product. Plus the likelyhood of someone making a insurance claim who just bought it for the points is low. so pure profit for them, and points for us, win-win.

Yes I agree with all of this, what I'm most surprised about is the use of a survey 1 year after the event as a means of finding out about the reasons. I suspect they know most of the reasons already but also if you google Onepath Bonus Points this thread pops up with it's 600+ posts. Surely they were not unaware of this commentary, I think this appeared on other blogs as well!

 

[casanovawa]

They have to remember that a lot of us would have never have signed up if it were not for the points.
So really they got some easy money from us that would have never have purchased this kind of product. Plus the likelyhood of someone making a insurance claim who just bought it for the points is low. so pure profit for them, and points for us, win-win.

It probably wasn't a pure profit for them as One Path probably had to buy those points from QFF to give away and not sure if our 3 months of payments would have covered the 10,000 QFF points for each policy... Maybe....

Newk, not sure what your drivers were for taking this out, but when you signed up all those policies did you go for the minimum amounts to get the lowest monthly cost?? I guess if you were after points as well as genuinely after the full amount to cover your income for example you might have gone for a higher monthly payment, others i'm sure just chose the lowest payout figure and for the least expensive industry category that worked out to be the lowest monthly premium as they were just after the points rather than any actual insurance coverage...

I signed up for the last offer and got the 40,000 QFF points, but I also received this latest ANZ offer... I was considering whether because its from the different side of the ANZ bank rather than the One Path side (even though ANZ own them don't they) that maybe they don't have me on record as having signed up to get the 40,000 points previously and so i may qualify again to get the new 20,000 point cap... Or just that I signed up for it at the start of 2011 and maybe they have forgotten period... Either way it did cross my mind to have another crack at this as it does fall below my 1c per point threshold i think even with the new 6 month hold requirement...

 

[awilcockson]

Just got the survey phone call. Had some pretty probing questions, including some "demographics" questions that I refused to answer ...

 

[Newk]

It probably wasn't a pure profit for them as One Path probably had to buy those points from QFF to give away and not sure if our 3 months of payments would have covered the 10,000 QFF points for each policy... Maybe....

Newk, not sure what your drivers were for taking this out, but when you signed up all those policies did you go for the minimum amounts to get the lowest monthly cost?? I guess if you were after points as well as genuinely after the full amount to cover your income for example you might have gone for a higher monthly payment, others i'm sure just chose the lowest payout figure and for the least expensive industry category that worked out to be the lowest monthly premium as they were just after the points rather than any actual insurance coverage...

Yep, I was bored and had some spare time. I had been following this thread a bit. So I sat down and signed up the whole family, without being creative about age and industry category (maybe in retrospect I should have). And, correct, I chose the cheapest cover.

The two unfinished ones (as said the site kept crashing) will be cheap ones.

I thought it was an amusing way to get the family 100k QFF points for a bit over a cent each. After all we must not forget that a lot of the purpose of this site is to provide amusement to ourselves and others. One of my work mates that I introduced to this site was laughing aloud and snorting while reading it on his Iphone recently. Perfect.

regards

 

[samh004]

I probably noted this ages ago, but also did a phone survey many moons ago (last year) after I'd canceled my policies. I'm surprised the promotion is still going strong. Wonder if I can get back in for another 30k (which cost me ~$80 at the time)




 

[mattmison]

Hey,

I've signed up myself (for a legit policy) and my partner, mother and step father for "basic" policies of 2 different types - i.e. Income Protection and Life, I believe this makes me eligible for 20,000 points each to our frequent flyer accounts i.e. 10k for each policy (thus reaching the annual limit) as long as I hold them for 6 months, is this the way everyone else understands it?

Thanks,

M

 

[Newk]

Hey,

I've signed up myself (for a legit policy) and my partner, mother and step father for "basic" policies of 2 different types - i.e. Income Protection and Life, I believe this makes me eligible for 20,000 points each to our frequent flyer accounts i.e. 10k for each policy (thus reaching the annual limit) as long as I hold them for 6 months, is this the way everyone else understands it?


Thanks,

M

yes, that's how I read it. Good luck with the process

 

[mattmison]

yes, that's how I read it. Good luck with the process

Thanks you 2

 

[Formal Hall]

Does anyone have a landline 02 number for onepath? All they have on the website is 1800 and 13 numbers which are normally fine but I am calling from overseas and they attract additional charges, even calling over skype. Many thanks

 

[markis10]

Does anyone have a landline 02 number for onepath? All they have on the website is 1800 and 13 numbers which are normally fine but I am calling from overseas and they attract additional charges, even calling over skype. Many thanks

Try 02 9234 8111, they will at least put you onto the right department (its corporate services).

 

[kindy01p]

I looked at the start of this thread and realised that this offer was a lot better a few years back... regardless, I just signed up on two policies, will pick myself up a mean 20,252 points after six months, inclusive of credit card bonus points and bonus points just for the dollar amount of the policy - all for a fantastic:

$100.80!

Apart from Credit Cards like Woolworths EDR which gets you 20,000 points occasionally upon sign up, for an $89 annual fee, that has got to be a pretty good offer for points.
I just picked the absolute minimum amounts to cover myself for. I wonder whether karma is a cough with this thing and if anyone has ever tried to claim through them after trying to just get points from them....

 

[Newk]

Just checked. All five of the family have got their 20,000 points. Ka ching. We didn't even have to chase them. Cancellation letters sent and acknowledgment thereof received.
Highly recommended if the sums work for you. I wonder they will work out why people keep cancelling after six months? Thanks to the thread contributors.

 

[casanovawa]

Can't you then claim some of these as a tax deduction which reduces the money spent still further....

Still probably not as cheap as taking out a credit card then cancelling after 3 months and asking for a pro rata refund of the annual fee, but still half decent... The first offer where many of us got 40,000 for a bit over $100 was good...

 

[Newk]

Wow. Didn't think of that. I think income protection insurance may be business expense. Thanks.

 

[11sjw]

Wow. Didn't think of that. I think income protection insurance may be business expense. Thanks.

Income protection is definitely tax deductible, even for we dud PAYGers!!

 

[Paddy55]

Income protection is definitely tax deductible, even for we dud PAYGers!!

And pay for everything, including PAYG, using your favourite CC

 

[Beta4Me]

Anyone familiar with the $100 back if you don't claim during first 12 months for the income protection insurance? Any gotchas in the T&Cs or easy to get?
Particularly curious as online quote for minimum possible cost income protection insurance for me is a mere $71pa. With that refund I'd be in front! Seems too good to be true...

 

[DontGetMeStarted]

I looked at the start of this thread and realised that this offer was a lot better a few years back... regardless, I just signed up on two policies, will pick myself up a mean 20,252 points after six months, inclusive of credit card bonus points and bonus points just for the dollar amount of the policy - all for a fantastic:

$100.80!

Apart from Credit Cards like Woolworths EDR which gets you 20,000 points occasionally upon sign up, for an $89 annual fee, that has got to be a pretty good offer for points.
I just picked the absolute minimum amounts to cover myself for. I wonder whether karma is a cough with this thing and if anyone has ever tried to claim through them after trying to just get points from them....

Just had a look at the site and want to do this too for family just not sure how yu go about it, anything I looked at was coming in at $60 a month....if you don't mind assisting how do you adjust to the lowest amount?
thanks

 

[Newk]

It's a while since I've done it. But without lying adjust the parameters down to get the lowest premium.

 

[Newk]

Anyone familiar with the $100 back if you don't claim during first 12 months for the income protection insurance? Any gotchas in the T&Cs or easy to get?
Particularly curious as online quote for minimum possible cost income protection insurance for me is a mere $71pa. With that refund I'd be in front! Seems too good to be true...

I love the thinking of people on this forum . Great pick up if it can be made to work for you.