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Take out a NAB Essential Life Insurance Policy, Get a $100 Visa Gift Card (Min 40 Days @ $40)

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Take out a NAB Essential Life Insurance Policy, Get a $100 Visa Gift Card (Min 40 Days @ $40)
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bonky on 29/02/2016 - 16:54 nab.com.au (1140 clicks)
Last edited 06/04/2016 - 18:29 by 1 other user

Buy NAB Essential Life insurance online and you’ll receive a $100 gift card that can be used at anywhere that accepts Visa pre-paid cards.

To be eligible for the $100 Visa Gift Card incentive, you must purchase NAB Essential Life or NAB Accidental Death Insurance online between 1 February and 30 April 2016 11.59pm. If approved for NAB Essential life insurance, a minimum premium of $10.00 per fortnight or $20.00 per month applies at the time of purchase. Minimum premium is applicable for NAB Essential Life only.

The Gift Card will be sent in the mail to the primary applicant’s mailing address within 55 days after the commencement date of the NAB Essential Life or NAB Accidental Death Insurance policy subject to (i) the policy not being cancelled or lapsed within the first 40 days; and (ii) all premium payments made.

Financial Gift Card

Related Stores

National Australia Bank Group (NAB)
National Australia Bank Group (NAB)

closed Comments

  • jv on 29/02/2016 - 17:04

    NAB Essential Life Insurance Policy. $60 Profit

    Don't you have to die first ?

    • illumination on 29/02/2016 - 17:06
      +4

      Nah if you die first your profit would be whatever hundreds of thousands the payout is minus the premium!

      • jv on 29/02/2016 - 17:08
        +17

        would be whatever hundreds of thousands the payout is

        Isn't that a better deal then ?

        • illumination on 29/02/2016 - 17:10
          +7

          I think so.

          What do you think, OP?

          I say post it up as a new deal!

        • CyberMurning on 29/02/2016 - 18:24
          +1

          Agree.. Plus no need to worry to pay off mortgages…

        • BeefBiryani on 29/02/2016 - 19:52
          +11

          A deal to die for, indeed.

    • claud0902 on 29/02/2016 - 17:07

      No. You have to stay alive to cancel the Policy to make this $60 profit.

      • montorola on 01/03/2016 - 01:05
        +1

        Ah ah ah ah, stayin' alive stayin' alive!

    • bonky on 29/02/2016 - 17:08
      +2

      the world wouldnt be a worthy place without you JV

    • halfnhalf71 on 01/03/2016 - 09:00

      I'm surprised no-one is egging on jv to follow through with a life insurance claim! Jokes….

      • jv on 01/03/2016 - 09:57
        +2

        read the policy…

        • bonky on 01/03/2016 - 11:01

          where in the policy does it say "JV" ?

  • twocsies on 29/02/2016 - 17:28

    This offer makes me feel somewhat confident about my chances of surviving past 75! Either this life insurance is a losing proposition for NAB, or less than 10% of the people who pay for this insurance ever get a benefit (paid to their survivors).

    Back of the envelope calculations: There's no old age benefit, i.e. no "payoff" if you survive past 75. Assuming a 43 year old person paying the lowest level. $240 per year x 35 years = $8400 (not adjusted for increases in premiums), and the payout: $100,000.

    • fantacular on 29/02/2016 - 18:39
      +3

      you might pay $240/yr when you're 43, but when you're 63 you will be paying shitloads more than $240/yr.

      • twocsies on 29/02/2016 - 18:39
        -4

        Whatever increase in fees is exactly matched by increases in payouts.

        Increase per year of both fees and payouts is the greater of 3% or the CPI increase.

  • easternculture on 29/02/2016 - 17:29

    For me it was $6 a fortnight , how did you get $10

    • illumination on 29/02/2016 - 17:30
      +2

      Lol who cares? $6 is cheaper than $10! More profit!

    • bonky on 29/02/2016 - 17:30

      that was … what was on the site!….

      • hoyanikon on 29/02/2016 - 17:34
        +1

        It's in the terms and conditions 'If approved for NAB Essential life insurance, a minimum premium of $10.00 per fortnight or $20.00 per month applies at the time of purchase. Minimum premium is applicable for NAB Essential Life only.'

    • bonky on 29/02/2016 - 17:34

      how old are you?

      • easternculture on 29/02/2016 - 17:46
        -8

        I put 18, they dont need my real details, im just applying for the gift card and then cancel after 40 days

    • iIVIi on 29/02/2016 - 21:39

      $15.80 is the cheapest I can get it (Male). $10.50 for Female

  • hoyanikon on 29/02/2016 - 17:32
    +1

    It's in the terms and conditions 'If approved for NAB Essential life insurance, a minimum premium of $10.00 per fortnight or $20.00 per month applies at the time of purchase. Minimum premium is applicable for NAB Essential Life only.'

  • Savas on 29/02/2016 - 17:48
    +2

    Seems a lot of work for $60.

    • PresidentClinton on 29/02/2016 - 18:02
      +1

      That was the least amount of work i did for $60

      • conan2000 on 29/02/2016 - 22:36
        +2

        Have you actually done it though? It can take quite a long time to go through all the health questions associated with taking out a life insurance policy.

        • [Deactivated] on 03/03/2016 - 14:16

          i did it. entire process took max 5 minutes.

    • GrandpaJack on 29/02/2016 - 18:07

      $120 if you have two adults in your family.

  • mr626 on 29/02/2016 - 17:48

    Don't most people get life insurance included with their super fund though? That's how mine has always been.

    • conan2000 on 29/02/2016 - 22:39

      Not necessarily most, it's an optional element to many superannuation funds. I've always done it that way, but it was just an easy option as I got it up to 3 times my annual salary, no questions asked and quite cheap. The insurance cost will however jump every year, with very little change to the sum insured.

  • mcsere on 29/02/2016 - 18:10
    +1

    You can just adjust cover to the 100,000 minimum and premium goes down to below $10. Mine was at $7.55 per fortnight. Do you think the T&C wants to say (though it doesnt) that you must choose an option that has a minimum of $10 fortnightly premiums to get the gift card?

    • illumination on 04/03/2016 - 22:57

      Hmm.. that's a good question and I am curious about that too…. lol

  • spuderump on 29/02/2016 - 18:14
    +1

    Ugh i recall the westpac one about 6 months ago, worst process I ever went through to get the gift card they offered, never got it and wasted time and $$$ in 3 months of premiums.

    • Josh.straw84 on 29/02/2016 - 18:19
      +1

      That has a lot more to do with Westpac being fricken terrible. Their systems are older that the banking system iteself… worked out by two dude with clubs and a penchant for pain.

  • Garagesale on 29/02/2016 - 20:52
    +3

    $70 profit actually
    joun for 3 fortnights at $10 x 3 = $30 cost
    14 days x 3 = 42 days which puts you over the 40 day cutoff.

    • halfnhalf71 on 01/03/2016 - 09:07

      My premium is $11.35/fortnight :-( damn you age!!!! Although it's still a $66 profit!

  • thydzik on 29/02/2016 - 23:30

    done for both i and the mrs, thanks

  • T-man on 29/02/2016 - 23:38

    anyone knows how easy to cancel the premium? Thanks.

    • illumination on 01/03/2016 - 00:11
      +1

      You mean the plan? Probably just a phone call.

      If you could cancel the premium without cancelling the plan though, let us know how! ;)

      • T-man on 01/03/2016 - 00:40

        Yes, i am planning to cancel the contract once I've got the gift card

        • illumination on 01/03/2016 - 00:41

          lol you missed my "joke"

          premium = the money you have to pay to have an active insurance
          It's a common term used for insurance. For example, car insurance, you would often ask, "How much is the premium per year?"

          So I was saying let me know if you can find a way to cancel your premium (monetary cost) without having to cancel your plan.. meaning you'd be getting free life insurance!

        • T-man on 01/03/2016 - 00:47
          +2

          @illumination:

          Ah I got you, thank you for the explanation. I've come from another country and English is not my first language, so I usually miss my friends's jokes and have to ask for an explanation.

        • illumination on 01/03/2016 - 00:51
          +2

          @divious:

          That's ok! No need to apologise.
          English is not an easy language.. so keep asking. It's the only way you'll learn (and ignore anyone that tries to put you down)

  • halfnhalf71 on 01/03/2016 - 09:16

    I wonder if there will be a problem with people cancelling at 40 days but the card not being sent until the 55th day. I would hazard a guess and say we all might get missed until we call and ask where the card is because we won't be active in their system?

  • peterpeterpumpkin on 01/03/2016 - 09:35

    Life insurance is the ultimate form of gambling. Except you're guaranteed to never see a profit personally.

    It's amazing that some insurance companies allow you to sell your own life insurance to a stranger (http://www.bloomberg.com/bw/articles/2014-07-30/life-settlem…).

  • Stevetheadventurer on 01/03/2016 - 14:07

    Im now covered… if anyone plans on murdering me the next 40 days would be the most convenient. .. just dont forget to cancel afterwards. .

  • naman8913 on 01/03/2016 - 15:09

    Sorry if this ignorant but where exactly are the terms and conditions for the $100 visa card deal?

  • kyttiekat on 02/03/2016 - 09:55

    Ouch. Tried to sign up, after having surgery last year that meant some time away from work and under the care of a 'specialist' at the time. Got instantly rejected. D:

    • shortgum on 02/03/2016 - 15:47

      kyttkat if you just want to get the ~$60. just sign up as you are health normal and cancel after 40days. no need to be so specific about what surgery you have done

  • thydzik on 02/03/2016 - 11:21

    no signup confirmation so far, looks like it will be mailed.

    • ronnknee on 04/03/2016 - 23:16

      Same here.

  • ChatGPT-4 on 02/03/2016 - 23:24

    Anyone know what how long the cancellation process takes and how much time notice is required?

  • ameel on 06/03/2016 - 01:26

    "If approved for NAB Essential life insurance, a minimum premium of $10.00 per fortnight"
    Where did OP get that? I can't find the terms and conditions anywhere.

  • bcdefg on 06/03/2016 - 17:20

    Don't fall into the trap. They are selling your information:

    MLC: "If eligible for this incentive, MLC will pass on your name, address and date of birth to the gift card issuer, Universal Gift Cards (“UGC”)."

    UGC: "4. Use of personal information
    We may provide your information to
    * our processor who creates and maintains the card accounts and provides call centre services. Our processor’s operations are global, so your personal data may be held in Australia, USA and India
    * card manufacturers who supply, encode and despatch the cards
    * Australia Post or couriers who deliver the cards
    * entities involved in the creation, hosting and maintenance of this and related websites
    * entities in the VISA payment network
    * the Issuer of our cards
    5. Disclosure of your personal information overseas
    Your personal information may be disclosed to our processor’s operations in USA and India. "

    • thydzik on 07/03/2016 - 23:35
      +1

      how would you receive the giftcard if they don't have your name and address?

    • [Deactivated] on 08/03/2016 - 19:22

      Happy to sell my information for $60

  • thydzik on 09/03/2016 - 22:46

    got the welcome pack in the mail today.

    • bonky on 12/03/2016 - 16:53

      mee too!

      no gift card yet

  • Bargaingeek on 24/03/2016 - 21:01
    -4

    lol idiots signing up for this just to get scraps, so stupid

    • illumination on 26/03/2016 - 00:17
      +4

      If you call $60 "scraps", why are you on this site? On some deals you probably save scraps/12 (~$5ish)…

  • ronnknee on 06/04/2016 - 18:28

    Has anyone received their gift card yet?

    • bonky on 07/04/2016 - 13:38

      no…. im about to cancel on monday…

  • PresidentClinton on 09/04/2016 - 21:35

    I havent even paid a premium yet..anyone know when the bill arrives?

    • Franconian on 11/04/2016 - 18:18

      It was debited from my account…I just cancelled via phone.

  • bonky on 11/04/2016 - 19:41

    I cancelled mine today…. 41 days (min requirements was 40days) .. lets see if I get my card!

    • Franconian on 12/04/2016 - 08:24

      Same with me…41 days. If no card -> Financial Ombudsman ;-)

  • kiribatian on 13/04/2016 - 12:50

    I rang up today to cancel and asked about my gift card. Supposedly because my premium was below $10/fortnight, I am not eligible. Argh- sucks to be young and healthy (I'm 28).

    My fault I suppose, I didn't read the terms and conditions close enough. Let me know how you guys go.

    • bonky on 13/04/2016 - 14:14

      if its only 30days… you can get full refund

  • thydzik on 13/04/2016 - 13:32

    when did they introduce the over $10 / week premium?

    edit: this was not a smart investment for me.
    didn't read that it was minimum $10, and forgot to cancel on Monday so they took another fortnight out which is apparently non refundable.

    • LittleMIssPanda on 14/04/2016 - 21:56

      Its not $10 a week minimum, its $10 a fortnight.

    • ronnknee on 15/04/2016 - 22:49

      In the same boat as you. Revoking the pos.

  • Stevetheadventurer on 14/04/2016 - 18:32

    My excuse for canceling…. not planning on dying soon… I should have been more creative..

  • Leman on 25/04/2016 - 09:24

    For me it costs $10.05 per fortnight so that would end up costing me $30.15 for 40 days so I get $70 profit

  • Mortgage Broker on 26/04/2016 - 20:55

    Has anyone received their gift card? I signed up on 18 February and I'm still waiting.

    • oyozzieoy on 28/04/2016 - 15:49

      Mine got delivered this arvo

      • Mortgage Broker on 28/04/2016 - 20:13

        When did you sign up, if you don't mind sharing?

        • oyozzieoy on 28/04/2016 - 22:51
          -1

          Signed up on 8th Mar, cancelled on 13th Apr, gift card arrived today.

  • thydzik on 29/04/2016 - 15:06

    given this isn't expired, I tried to sign up again. see how it goes.

  • shortgum on 05/05/2016 - 18:59

    Anyone got their $100 prepaid card yet? I joined in 24/2/16 and cancel on 41 days 5/4/16. Now still haven't received :(

    Start thinking is this another marketing trap…

  • shortgum on 05/05/2016 - 21:06

    any OP have lucky enough to save a screen shot or print out of the promotion details from NAB? I didnot save it myself before promotion lapse.

    can someone post it up for everyone who in case still not receive this $100 card?

  • LittleMIssPanda on 17/05/2016 - 13:24

    I think its been around 2 months for me, still waiting. :(

  • Shik on 19/05/2016 - 22:34

    I got mine today! But that was after numerous phone calls and complaints!!!!

  • LittleMIssPanda on 20/05/2016 - 12:16

    Mine arrived today.

  • LittleMIssPanda on 20/05/2016 - 12:17

    Mine arrived today.

  • bonky on 20/05/2016 - 17:05

    Mine arrived also!! whoooo hoooo!

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