20k bonus points with ANZ Income Protection Insurance

[get me outta here]

Quote: "The bonus 10,000 points offer is not available for new policies within the OneCare range of products and is only available to customers who: (a) apply for a new eligible OnePath policy or eligible ANZ life insurance or income protection directly, either online via qantas.com/life insurance or over the phone by calling 1300 379 693 for OnePath Life or 1300 376 978 for ANZ; (b) hold and pay the premium for the eligible OnePath policy or ANZ life insurance or income protection for a minimum period of six months".

So, as we are applying for new policies, we do not seem to be in to win 10K points(?)

 

[lovestotravel]

Just bought mine - $71 isn't bad to (almost) cover a Y to J upgrade on LHR-DXB next month.

Well considering it will likely take up to 14 months to get the 20k points, I wish you luck with that

The ability to earn Qantas Points for every $1 of premium you pay in accordance with the OnePath Frequent Flyer Rewards Terms and Conditions (PDF 128kB) is not impacted by this acquisition offer. Bonus Qantas Points may take up to 2 months after the minimum holding period of 12 months has expired to be credited to your Qantas Frequent Flyer account.

 

[dairyfloss]

I bought in - calculated that after the tax deduction it only costs me ~0.002c per point... happy to wait for a forgotten bonus in 12-14 months at that price!

 

[curiost]

Is the annual policy premium automatically renewed after 12 months? I'm just wondering whether that means at 11months we have to manually opt out into getting it renewed?

 

[casanovawa]

Quote: "The bonus 10,000 points offer is not available for new policies within the OneCare range of products and is only available to customers who: (a) apply for a new eligible OnePath policy or eligible ANZ life insurance or income protection directly, either online via qantas.com/life insurance or over the phone by calling 1300 379 693 for OnePath Life or 1300 376 978 for ANZ; (b) hold and pay the premium for the eligible OnePath policy or ANZ life insurance or income protection for a minimum period of six months".

So, as we are applying for new policies, we do not seem to be in to win 10K points(?)

That confused me a little when i read it as well, but I think what they are saying is there a couple of ranges of insurance products, new policies in the OneCare range are not eligible, but others are... I think when i signed up for the 4 for 40,000 initial offer not all the types of insurance were eligible for that bonus either...

 

[get me outta here]

I like language that doesn't keep raising more questions than it answers to cut out misunderstandings later! Otherwise, it's just an $80 donation.

 

[AirKat]

That confused me a little when i read it as well, but I think what they are saying is there a couple of ranges of insurance products, new policies in the OneCare range are not eligible, but others are... I think when i signed up for the 4 for 40,000 initial offer not all the types of insurance were eligible for that bonus either...

OneCare are different policies. OneCare are the insurance products that are sold my financial planners - they are better quality and more expensive. These ones we are looking at are cheap and nasty policies distributed directly through ANZ/OnePath

OneCare = Insurance product range
OnePath = Insurance company name owned by ANZ (formerly ING)

OnePath also have an investment product called OneAnswer. Based on investment name = OneAnswer and insurance name = OneCare, when they had to be rebranded from ING after the full takeover by ANZ, they went with OnePath. And to top that off, ING (the one that is now OnePath) is different to ING Direct that still exists.

 

[get me outta here]

I was in the process of filling it out on line and phoned up ANZ and said no way do I want my details shared.

He said he'd take all the details over the phone and I gave him the QFF no. My details are only going to ANZ and OnePath, so I expect to be bombarded. Then I had to sit through a long recording where I was told all the things that I can't do/void the policy, and invited me to opt out of marketing info , so I did. We'll see if that works.

He said a "minimum of 1 year" for the 20K points so I have a horrible feeling that it means another renewal fee to get the points.

 

[curiost]

He said a "minimum of 1 year" for the 20K points so I have a horrible feeling that it means another renewal fee to get the points.

The terms and conditions state "for a minimum period of twelve (12) consecutive months" - which seems to me that 12 months exactly would be OK

 

[deejo77]

I took it out.....paid up front yearly.....I would rather chase bonus points as a current customer then an ex....will be renewing for 2nd year and cancelling as soon as points hit qff account with the prorata fee refund

 

[get me outta here]

I took it out.....paid up front yearly.....I would rather chase bonus points as a current customer then an ex....will be renewing for 2nd year and cancelling as soon as points hit qff account with the prorata fee refund

I think this is the most likely scenario, 1.5 years for the 20K points. Pretty long term investment.

 

[deejo77]

I think this is the most likely scenario, 1.5 years for the 20K points. Pretty long term investment.

Tax deduction and does not effect my credit rating so its a win for me

 

[dairyfloss]

I just had the points for my rather small premium credit my QFF account... only about another 17 months now until the bonus 20K arrives!

[TABLE="class: basic"]


[TR="class: underline1"]
[TD]08 JUL 13 [/TD]
[TD] ONEPATH INSURANCE 06JUL13[/TD]
[/TR]


[/TABLE]

 

[kyle]

Same here! Got a small credit of 70 points. So there's proof that they have my QFF number! Patiently waiting for the 20K...

 

[aerotravel]

I had a OnePath Income Protection policy which I just got 10K credited for my QFF.

I also have been informed if I need to change information e.g. Salary Increase, new job, new benefit amount to be paid, old policy has to be cancelled and re-apply for new one.

So, I cancelled the OnePath one and apply the ANZ Inc Protection to see if I get 20K points for next year.

See what happens next year.

 

[Newk]

Thanks for this thread. Having just seen the family achieve 5 x 20,000 points from the six months Onepath gig I can also confirm that they send out a very nice tax statement so you can be sure to get your deduction.
Thanks to aerotravel for the thought. Possibly my family needs to reapply for income protection.

 

[MEL_Traveller]

l would advise caution in providing anything but truthful information in your applications. false information of a material nature, regardless of whether or not you ever intend claiming, can be grounds for the company to void your policy.

i am quite sure the company did not intend to be giving away 20k points based on minimum policy prices of $60 and as we have seen before with other companies in this situation, they might decide it is worthwhile to 'audit' accounts if their liability for points becomes too high!

 

[Nizar]

l would advise caution in providing anything but truthful information in your applications. false information of a material nature, regardless of whether or not you ever intend claiming, can be grounds for the company to void your policy.

i am quite sure the company did not intend to be giving away 20k points based on minimum policy prices of $60 and as we have seen before with other companies in this situation, they might decide it is worthwhile to 'audit' accounts if their liability for points becomes too high!

Whilst what you say is true I got $60-something by providing totally accurate information.
If I only want to protect a fraction of my total income I'm sure that cannot be classified as "false" information.

 

[MEL_Traveller]

Whilst what you say is true I got $60-something by providing totally accurate information.
If I only want to protect a fraction of my total income I'm sure that cannot be classified as "false" information.

if the policy allows you to under insure that's not a problem. I was more focussing on changing occupation or otherwise manipulating the criteria to get a lower quote.

 

[tim374]

I did a quote but haven't signed up yet. Got a call today from ANZ trying to sign me up over the phone. There was a bonus of $100 Visa gift card for signing up over the phone, but no QFF points.