Changes to NAB Gold Visa Debit Travel Insurance

[SeaWolf]

Anyone else noticed that there seems to have been a change to the activation requirements for the NAB Gold Visa Debit travel insurance? It used to be 50% of the pre-paid travel costs, but now it seems to be:

prior to the commencement of Your Journey, You have paid 100% of Your return overseas airfares including charges, fees and/or taxes with Your NAB Gold Visa Debit Card.

A lot less flexible. Any idea when this change happened? I would have expected them to send out a copy of the new policy document, but I don't remember seeing it and only found out when I went to their website to look up something else in the policy doc.

 

[pangwen]

Not sure if this applies to the NAB Gold Visa Debit, but I received a brochure for my NAB credit card, and it said that "NAB Gold Insurance" will change so that insurance will be activated if you have paid a minimum of $500 of prepaid transportation and/or accommodation costs. This applies from June 1.

 

[SeaWolf]

I've just received the same brochure, plus a note on my debit card statement:

The cover will be activated if you're a NAB Gold Visa Debit cardholder and prior to the commencement of your journey; you have paid a minimum of $500 of your prepaid transportation costs (including travel by air, rail, road or watercraft) and/or accommodation costs and/or organised land tour costs all of which are inclusive of any charges, fees and/or taxes (excluding foreign currency and travellers cheques) on your NAB Gold Visa Debit card.

Which is much better, a lot of flexibility there.

 

[coolsteps]

I've just received the same brochure, plus a note on my debit card statement:

Which is much better, a lot of flexibility there.

i always visit a branch or kiosk before i depart to convert my classic account back to a gold account then back again upon my return. however i wonder if i would be covered since my debit visa card isnt gold but standard one even though the account is a gold account at the time of travel period? would i have to order a gold card to be covered? its just too much hassle since nab charged me $20 for the gold card last time since it wasnt linked to any account when i converted the account back to classic. i have to go into a branch and close the gold visa debit card to and request a refund on the fee charged.

 

[SeaWolf]

That seems like a lot of hassle, why not just leave it as a Gold account?
My brother has one of these accounts and is a starving student. All he does is once a month deposit however much extra is needed to reach $5000 into the account, then transfers it out again. This avoids the fee, but lets him take advantage of the travel insurance and the no-foreign fees.

 

[kt_kez]

That seems like a lot of hassle, why not just leave it as a Gold account?
My brother has one of these accounts and is a starving student. All he does is once a month deposit however much extra is needed to reach $5000 into the account, then transfers it out again. This avoids the fee, but lets him take advantage of the travel insurance and the no-foreign fees.

I do the same as your brother and it's no hassle at all when you can make multiple transfers in and out of the linked iSaver account!!

The new insurance policy seems much better than the previous one... it now includes domestic travel insurance, which would have come in handy if I'd bought my ticket on June 1 with the whole volcanic ash causing flight cancellations etc...