This was posted 6 years 10 months 4 days ago, and might be an out-dated deal.

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20K Points for Joining Amex Life Insurance Approx $6 Per Month. 6 Month Minimum

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20K Points for Joining Amex Life Insurance Approx $6 Per Month. 6 Month Minimum
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schmucky on 21/06/2017 - 09:51 files.ozbargain.com.au (5514 clicks)
Last edited 03/07/2017 - 21:42 by 3 other users

Just noticed this deal and thought I might do a post here to share. Credit to 'NoName' from the AFF forums.

Guess most Ozbargainers would have some sort of AMEX card. As title suggests 20,000 Bonus points for new life insurance policies. Points to be credited up to 8 weeks after the first premium is paid. AMEX reserve the right to reverse bonus points if you cancel within 6 months.

The points you get will depend on the card you choose to use.
If you use the Qantas cards, you will get 20,000 Qantas.
If you use the Explorer, you will get 20,000 Gateway which transfers out to 15,000 Airline Points for a range of partners.
If you use the Platinum Charge, you will get 20,000 Ascent.

As a data point, with min cover of $50,000, Mylife policy comes out to about $6 a month.

Over 6 months, the total cost is $36.

To apply, login to your AMEX account and click on the 'Insurance' tab and follow the prompts.

If you do not get either the email or the flyer in the mail, don't despair… the deal is not targeted.

It is available to new customers but if you are not comfortable feel free to confirm with it please call 1800 025 015 and ask about the promotion.

Referral Links

Business Explorer Card: random (3)

Referrer: 40,000 Reward Points

Centurion Personal Charge Card: random (7)

Referee gets 200,000 MR points. Referrer gets 150,000 MR points.

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closed Comments

  • lainey13 on 21/06/2017 - 11:44

    I can see that exact cover being offered under Insurance tab but nothing about the 20k offer. I doubt I will magically get 20k if I just sign up now. Why would they give me 20k in points when there's no mention of it under Insurance?

    • nightelves on 21/06/2017 - 11:49

      That's what they did for me and just like they magically gave me 9k bonus points to add 3 supps when I didn't get the promo.

      • lovetravellinginbiz on 21/06/2017 - 11:54

        Did they charge you for first month? And did your points come thru the moment fee got debited from your card at month 2?

        • nightelves on 21/06/2017 - 11:57

          Yeap got the points on the first month that I was charged and you get triple points for the cost of the premium.

        • lovetravellinginbiz on 21/06/2017 - 12:03

          @nightelves: yay! Looking forward to 40030 points next month! =)

        • nightelves on 21/06/2017 - 12:07

          @bkx3virgin:

          Make sure you hold it for 6 months as Amex can easily take the points off you.

        • h4lcyon on 22/06/2017 - 09:42

          @nightelves: Unless you spend them first :)

        • nightelves on 22/06/2017 - 09:45
          +1

          @h4lcyon:

          That's what I intend to do.

  • bohn on 21/06/2017 - 11:50

    $4 per month.. sweet, although they'll get back to me within 2 days.. not instant.

  • shortgum on 21/06/2017 - 12:03

    Nothing mention 20K points. is this only credit for once on primary cardholder or is for everybody under supplementary as well?

  • ozmu on 21/06/2017 - 12:04

    I have AMEX issued Gold. No such offer. Even in the Insurance tab on the benefits portal.

  • Phuiie on 21/06/2017 - 12:07

    Haha the deal was around 3-4 months ago.
    When i applied for it! No promo code was needed.

    Just had to wait for the 5 bucks to be deducted and the points were awarded.

    • nightelves on 21/06/2017 - 12:17

      Exactly! Was very grateful for your intel. I'm surprise not many people jumped on it when you posted about the deal.

  • smith001122 on 21/06/2017 - 12:10

    Anyone know of the expiry date of this offer? I'm waiting for my new explorer to arrive in the mail…

    • nightelves on 21/06/2017 - 12:12
      +1

      31st of July

      • smith001122 on 21/06/2017 - 12:13

        Perfect, thank you :)

  • jabroni on 21/06/2017 - 12:13
    +4

    this reminds me - i need to cancel the qantas assure life insurance and jump on this now for moar FF points

    • arctan on 21/06/2017 - 15:34

      Do you have to call Qantas to cancel?

      • jabroni on 25/06/2017 - 21:25

        yeah rang 134960 and have policy number ready. was pretty quick and cancelled in less than 4 mins

  • droodle on 21/06/2017 - 12:14
    +1

    how could they reverse points if you've converted them to an airline for example ?

    • nightelves on 21/06/2017 - 12:18

      Make you pay for the cost of the points?

    • T-man on 21/06/2017 - 14:47
      +1

      The points can be a negative number, I got -1000 something when I returned a product for a refund.

  • bricabrac89 on 21/06/2017 - 12:14

    Does anyone know if the AMEX issued Virgin Velocity Card (Free One) is eligible?

    • chin on 21/06/2017 - 14:15

      Yes it is. I have one and I just called the call centre to confirm. Amex velocity will get you 20K velocity points

      • bricabrac89 on 22/06/2017 - 07:04

        Thanks. I went for it anyway, if I didn't get the points I'd have just cancelled.

  • Elitebhy on 21/06/2017 - 12:15

    Called Zurich and they advised that the 20,000 points will be awarded after the payment of the second premium.

    Policy can be purchased online or via their call centre.

    • nightelves on 21/06/2017 - 12:19

      I got it on the first month if that helps.

  • [Deactivated] on 21/06/2017 - 12:21

    Does this work with the Velocity Platinum?

    • Rusty4 on 21/06/2017 - 12:59

      I want to know this too.

      • [Deactivated] on 21/06/2017 - 13:19
        +1

        Just called them and the lady confirmed that the Velocity Platinum is included but couldn't confirm whether it was 20k Velocity points or AmEx points.

        • Rusty4 on 21/06/2017 - 13:24

          Well at least that's something. Thanks!

        • StoinkerDoink on 21/06/2017 - 13:35

          I imagine then that the Velocity Escape card would be accepted?

        • [Deactivated] on 21/06/2017 - 14:16
          +1

          @TomMor:

          She did say "Velocity Frequent Flyer" cards issued by AmEx. So I would assume so.

  • bion83 on 21/06/2017 - 12:21

    So I'm still confused, the offer is on but not advertise therefore I do not see it in my Plat Edge offers/insurance etc but its 100% on right?

    Second thing, if I get insurance for myself and missus do I get double points?

  • lucjack on 21/06/2017 - 12:36
    +16
    • Not Targeted
    • Available for primary cardholders of Amex issued cards. Excludes David Jones, business, corporate, Govt, bank issued and supplementary cards
    • First months cover for $0
    • Allow 8-10 weeks from payment of your first monthly premium for the 20,000 bonus points to be credited (paid sooner for others)
    • Insurance for family/partners eligible but only if purchased on a separate card/account (must be primary card not supplementary)
    • Expires 30 June
    • bricabrac89 on 21/06/2017 - 12:40

      Thank you. Finally someone posting some sense in the comments. Everyone refer to this.

    • SlothKing on 21/06/2017 - 12:46

      So you can cancel the insurance after getting the 20k points or still min. 6 months?

      • lucjack on 21/06/2017 - 12:52
        +1

        Being monthly payments you should be able to cancel at any time. In regards to the points they have covered themselves in the T&C's:

        "American Express reserves the right to reverse your points should you cancel your policy within 6 months of the commencement date."

    • inherentchoice on 21/06/2017 - 13:38

      Source?

      • lucjack on 21/06/2017 - 13:47

        Alisha McKeeman from the Zurich Ezicover Team and the promotional T&C's.

        • inherentchoice on 21/06/2017 - 13:49

          Can you upload the promotional T&Cs? I can't seem to obtain them.

        • lucjack on 21/06/2017 - 14:08
          +6

          Terms and Conditions
          1. 20,000 Bonus Points offer only available to new American Express Ezicover Insurance Policy Holders who are Australian residents aged between 19 and 69, apply by 30 June 2017, are approved and have purchased their policy using an eligible American Express Card and are enrolled in an eligible rewards program. American Express reserves the right to reverse your points should you cancel your policy within 6 months of the commencement date. Eligible rewards programs include Membership Rewards program, Qantas Frequent Flyer program and Velocity Frequent Flyer program. The following are not Eligible Cards: Bank Issued American Express Cards, David Jones American Express Cards, Business Cards that are affiliated with a wholesale partner, American Express Business Travel Accounts, Government Cards, Corporate Purchasing Cards, Corporate Meeting Cards and Corporate Cards. Bonus Points will be allocated once per Card account, therefore Card Members who currently hold or have previously purchased an American Express Ezicover Insurance product are ineligible for this offer. Please allow 8-10 weeks from payment of your first monthly or annual premium for the 20,000 bonus points to be credited to your rewards program.
          2. Policy holders must be Australian residents aged between 19 and 69 who apply and are approved. Policy must be purchased using an eligible American Express Card issued by American Express Australian Limited to earn 3 points per dollar spent on American Express Ezicover insurance products. Terms and Conditions of the rewards program in which you are enrolled. Membership Rewards Terms and Conditions are available at membershiprewards.com.au. Qantas American Express Cards Points Terms and Conditions are available at americanexpress.com.au/qantaspointsconditions. American Express Velocity Card Points Terms and Conditions are available at americanexpress.com.au/velocitypointsconditions. The following are not Eligible Cards: Bank Issued American Express Cards, David Jones American Express Cards, and Business Cards that are affiliated with a wholesaler partner, American Express Business Travel Accounts, Government Cards, Corporate Purchasing Cards, Corporate Meeting Cards and Corporate Cards.

        • cloudy on 22/06/2017 - 17:51

          @lucjack:

          Is there a link to these T&Cs?

        • lucjack on 22/06/2017 - 20:10

          @cloudy:
          Not that I could find. I received them via email after calling up to ask about the promotion.

    • Uzb9811 on 04/07/2017 - 22:16

      Actually expires 31 July.

  • 67Gateway on 21/06/2017 - 12:49

    Is the EziCover MyLife insurance is a type of Trauma insurance?

  • joffaa on 21/06/2017 - 12:57
    +2

    I spoke to Zurich who confirmed I could take out a policy in my wifes name and get the 20K points using my primary card.
    My quote was $28 per month for me & $5.64 for my wife. I insured the wife and not myself !

    • FutureTech on 21/06/2017 - 13:01

      Excellent move

    • montorola on 21/06/2017 - 19:49
      +5

      Damn, for once it actually works out cheaper to have a wife lol

  • FutureTech on 21/06/2017 - 13:00

    Applied - See what happens

  • Samsungnote10 on 21/06/2017 - 13:18
    +1

    Not sure why there is so much reluctance

    20k points is worth 148 dollars
    36 in fees

    That's 102 in profit

    Am I missing something?

    • [Deactivated] on 21/06/2017 - 13:20

      No, you're not.

    • lovetravellinginbiz on 21/06/2017 - 13:42
      +2

      20k points worth $200 to me! Happy to buy from anyone that wants to collect and get rid of them =p

      • Jdog88 on 21/06/2017 - 16:07

        if you're valuing 20k amex points at $200, you're doing it wrong.

        • lovetravellinginbiz on 21/06/2017 - 16:14

          Why? I travel a lot and so use it for flight redemptions. Melb to Perth was 30k points in Qantas a330 business - $300 by my valuation and $30 in taxes. Listed for $1000 on Qantas website.

          I've not travelled in economy for the past 6 years as a result so the points are worth it to me at 1c a point!

        • Jdog88 on 21/06/2017 - 16:21

          @bkx3virgin:

          you proved my point. 30k points for a $1000 fare values your points at 3.33c/point.

          there's better value out there too.

        • Greg123 on 22/06/2017 - 08:29

          @jetcam:
          That is only the valuation if you'd actually pay $1,000 in cash for that ticket over $300 - $400 for an economy one. That's a personal judgement on value.

          Personally I think you'd need more money than sense to pay an extra ~$600 to sit in a more comfy chair for 4 hours. Or try the reverse proposition: would you turn down an offer from someone paying you $600 to sit in an uncomfortable chair for 4 hours?

        • Samsungnote10 on 22/06/2017 - 08:56

          @Greg123:

          I get what you are saying but for me. The song and dance before you get on to a business class flight and the expectation and anticipation is all part of the fun.
          If I was in economy and offered 400 extra to move up when the flight is about to start if be more reluctant

          That being said if I was in business I wouldn't turn down a generous cash offer to go back to economy unless it was very very good!

        • Jdog88 on 22/06/2017 - 09:28

          @Greg123:

          then you are valuing two different things.

          i use my points for international business and first class flights. my value is anywhere from 4c to 6c per point.

        • lovetravellinginbiz on 22/06/2017 - 16:55

          @jetcam: I'm much the same. Just gave the domestic flight as an example. I fly internationally twice yearly and 115000 points for sq first class suites last year from London to Melbourne was a real treat!

        • [Deactivated] on 30/07/2017 - 10:37

          @bkx3virgin: Would MR points (not QFF) also work for you? It can be transferred to Virgin but at a lower rate, 4 for 3 I think.

    • inherentchoice on 21/06/2017 - 13:43

      Well you didn't mention:

      • Unknown risk that you won't receive 20k points.
      • Lack of official information in writing, and resulting confusion and inability to therefore pursue bonus points if not credited. There's no written terms and conditions of the offer that I can find.
      • Need to manually cancel after 6 months or otherwise keep paying premiums.
      • $148 in rewards value is not equal to $148 cash. You'd be lucky to sell a supermarket gift card for 90%, and there's plenty of deals on OzB for discounted supermarket gift vouchers.
      • Some people's premiums will be more than $36.
      • Time investment to sign up and subsequently cancel, and then redeem points (if credited).
      • vodkaman on 21/06/2017 - 15:50
        +6

        sigh..

        1st point - true there's always that chance but for $36 its worth the risk, many people have previously stated that its not targeted.

        2nd point - I think a few people have pasted on this thread the T&C's for this offer

        3rd point - I think it takes more time to post OZ then call them up cancel - just set up a reminder 6 months from now

        4th point there - 20K points can be used to reverse statement credit or charge. 1 point currently reverses 0.741c on your statement so 20K points will reverse $148 on your statement - that's a straight up cash saving mate. Its not "$148 in rewards value". TBH there are way better uses of 20K points than reversing your statement

        5th point - true, having said that some people's will be less - I got 5.55 a month my wife got 4.16 (both 28)

        6th point - it seriously took 5mins each for my wife and I - said no the questions and filled out a form, enter your cc and your done

    • aiyoyo on 21/06/2017 - 20:28

      Yes your calculation wrong. Should be $6 X 5 Months=$30 (First Month free)

  • vchan on 21/06/2017 - 13:21

    I don't see the bonus points link in my portal.

    • chin on 21/06/2017 - 14:16

      They are still working on updating the website as claimed by their call centre operator when I asked him but if it is amex issued card, all are eligible

  • Thor Bargain God on 21/06/2017 - 13:21
    +2

    I hate to spoil the party for those who think this is tax deductible because I'm pretty sure it is not, unless held by your self managed super fund, and then its only deductible against the income of that fund, not your personal income. People may be getting confused with income protection insurance, which is ordinarily deductible for income tax purposes due to the linkage to the continuation and protection of your income, upon which you pay income tax. Lump sum life insurance payouts are not taxed as income, therefore there is no connection to income taxation for deduction purposes. Hope this is clear…

    Still a good deal for points etc. In terms of cost in the long run, I think its possibly a bit dearer than what you may be able to find in the market or via super, unless someone is able to find a decent promo code to cut it down a bit. I tried Googling for one but didn't find anything.

  • PMK on 21/06/2017 - 13:45
    +1

    I just signed up for the insurance so we'll see if the points do arrive. 20-25 year olds = $6.99 per month.
    I'm not sure for those if it helps but if your not keen nor interested in the points for
    shopping/travel you can use them to pay off your credit card as points can be used as charges.

    Mine came up with 1000 points = $7.41.
    So if you work that out. 20,000 points = $148.20 off your cc.

    Which is still cheaper for me in the long term than 6.99*6 = $42

    So let's hope these bloody points come through. lol

  • mopo on 21/06/2017 - 13:48

    done for $5.49/month, cheers! $33 not bad for 20k FF

  • maverick1 on 21/06/2017 - 13:53

    Just signed up for $5.17 using explorer. Applicable on AMEX issued cards only. Was keen to use DJ but didn't know DJ Amex is classified as non AMEX issued card.

  • starburstyellow on 21/06/2017 - 14:22

    "It is available to new customers but if you are not comfortable feel free to confirm with it please call 1800 025 015 and ask about the promotion."

    Great, currently have a Zurich Life insurance. Might give them a call to find out if I qualify.

    • starburstyellow on 21/06/2017 - 15:04

      I just done it, with my wifes name who doesn't have an account with Zurich. Paid with my CC of course.

      come on 20K! :D:D

  • bbqwer on 21/06/2017 - 14:45
    +1

    Amex explorer links with amex PE membership rewards. So you will get pure 20,000 MR points.

    • nightelves on 21/06/2017 - 15:24

      Yes I have that setup and it works!

  • StoinkerDoink on 21/06/2017 - 14:49

    This might sound stupid, but are the payments done in advance? So would we cancel before the 21st of December, or before the 21st of January?

    • [Deactivated] on 21/06/2017 - 14:59
      +1

      Cancel after 6 months from the date of purchase. So after the 21st of December.

    • borgsta on 21/06/2017 - 15:03
      +1

      I set up a calendar invite to cancel on December 27th to be safe. Brings it up to $40 spend for me.

    • Tiger on 21/06/2017 - 23:46

      In case you think this insurance is actualy worthwhile to keep and don't want to cancel after 6 months, it may be handy to be aware that an annual payment (rather than monthly) attracts a further discount (in addition to the free first month).

      It's close to 2 months free over the first year.

      • SaberX on 29/06/2017 - 04:09

        I don't think so? It appears to be you get the one month free (so paying for 11 months) and also a slight discount that brings it down.

        For example i'm being quoted for monthly: $5.61 /month, first month free. or 58.22 a year annually.

        If you only pay for 11 months x $5.61 = 61.71. So you get a few dollar discount down to 58.22 for doing annually.

        Personally I'm not going to bother. Just checked my super fund and 450k of death benefit is $4.95 a week (52 weeks = $257.40). Meanwhile a $450k lie insurance with zurich is $403.01 annually quoted - which would include a free months already. I haven't gone through the pds in fine tooth comb… to compare the two. Death insurance is with rest superannuation - may be they get wholesale cheap prices due to their size as well.

  • b88608039 on 21/06/2017 - 15:51

    Is there anyone who could tell me? If I have Edge and a explore card under my name, can I take out my Edge on myself and score 20k in Ascent reward program? Also, taking Explore on my wife and get another 20k in Gateway reward program.(I have not linked this two cards yet) thx.

    • vodkaman on 21/06/2017 - 15:56
      +1

      yes you would get 20K ascent points just apply through the edge that you linked with your explorer.

      • b88608039 on 21/06/2017 - 16:40

        So do you mean I can recevie 20k by using my Explore card when I use Explore for my wife insurance. And I can get another 20k by using Edge card when I use Edge for my insurance. Will I totally reward 20k +20k reward? Thanks

        • vodkaman on 21/06/2017 - 16:47
          +1

          you get 20K for each account, yes according to earlier posts some guy bought his insurance for his wife on his own amex card.

  • ozmu on 21/06/2017 - 16:01

    $hit the older you are, then up goes the premium. Lucky for the under 40s.

    • Peck on 05/07/2017 - 14:09

      Shoot! I made a mistake inputting my birth date ;)

  • astroboy23 on 21/06/2017 - 16:13

    Hi, does it have to be Amex issued card.

    Or can I use Westpac Amex card?

    Thank you

    • maverick1 on 21/06/2017 - 16:18

      Can't use bank issued card. has to be amex issued.

  • maverick1 on 21/06/2017 - 16:14
    +1

    Can anyone confirm if Qantas Amex Discovery is eligible for this offer as it is not part of any reward program like Ascent and Gateway?

    • krazek on 21/06/2017 - 22:22

      Would also like to know whether Qantas Discovery cards are elible!

      • maverick1 on 21/06/2017 - 22:29

        I will probably get to know tomorrow when my missus calls and buys herself a policy.

        I got one today for myself on explorer and was told that cards with first 4 digits as 3760 are eligible for the offer.

        • SydOzber on 22/06/2017 - 18:10

          I have a Qantas discovery as well and it starts with 3760

  • googoogaga on 21/06/2017 - 17:07

    with minimum cover of $200,000
    i'm quoted at $21.62 and my wife is at $16.35 per month

    How are you guys getting sub $10 per month?

    • joffaa on 21/06/2017 - 17:14
      +2

      I took out the $50,000 cover.

  • apptrack on 21/06/2017 - 17:17

    And you get 3 points with every dollar spent on Zurich!

  • prince10 on 21/06/2017 - 17:43

    Hi

    Please forgive me for asking a dumb question but I am looking to join American Express cc which is the best deal to go for .

    Any advice would be appreciated

    Thanking you

    Cheers

    • Uzb9811 on 23/06/2017 - 07:00

      Hi Prince10 - there are two main deals at the moment:

      Amex Velocity Card , which will give you 100,000 Virgin Velocity points, if that's what you collect: https://www.ozbargain.com.au/node/307458. It would also give you a free domestic return flight on Virgin.

      Amex Explorer Card, gives you 50,000 American Express Gateway points (or 60,000 if you use a referral link). These can be converted to a range of airline and hotel loyalty programs. The card also comes with a $400 travel credit. https://www.ozbargain.com.au/node/307515.

      Or if you want a free card - there's the Qantas Discovery card: https://www.ozbargain.com.au/node/295800.

      These I'd say would be the best right now.

  • Spizz on 21/06/2017 - 18:46

    Just signed up $7 per month. If I get the points after the first month great. If I don't I'll cancel after the first month and then am only out $7.

  • Sapz on 21/06/2017 - 18:51

    hi,

    Is Amex Platinum Charge card eligible ? Thanks

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