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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 (4)

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

    • donbot on 13/07/2017 - 17:17

      So who did you sign up on the two primary cards for each you and your wife? Did you take out two policies each, or you, wife, kid 1, kid 2, etc..?

  • hockey on 07/07/2017 - 10:26

    Has this expired or until 31st July.Not sure. Can someone confirm. If it has expired by 30th June shouldn't this be mark expired ?

    • banzini on 09/07/2017 - 16:29

      end of july it expires

      • hockey on 10/07/2017 - 06:45

        Thanks for confirming

    • Peck on 09/07/2017 - 19:44

      Well covered in the comments!

  • SaberX on 11/07/2017 - 20:58

    Just a note for all - I decided to do like others and pay the annual premium after having initially signed up monthly. The monthly is like 5.70 or 5.80 something - i can't remember exactly. but it's the minimum for the 50,000 cover.

    By paying annually you not only get a 6% something discount as you pay less than 12 months individually when you pay in one hit, but you also get the first month free as already covered. So having signed up 28 june I got my first month free and rather than pay 63 something for an annual amount i paid $58.17. Will cover me until 28 june 2018.

    Just a note - they mentioned you would get a pro rata refund if you cancelled part way through the year - so it made sense to just prepay. I'll cancel after month 7 to be safe (not sure i the free month counts as one). still $140 in charge credit. Hopefullly a shop small will come up with bonus 25% points when credit is redeemed on charges. doesn't happen often but am stockpiling my points for it!

  • desafinado74 on 17/07/2017 - 16:26
    +3

    It took about 5 days for the 20K MR points to appear (From application to points landing)
    I used my Explorer card to take out a policy on myself. I also paid the annual amount.

    I have just taken out a policy on my brother by using my AMEX Velocity Platinum card. (Also paid the annual amount)
    Let's see if the 20K Velocity points will land by the end of this week.

    • Ash-Say on 24/07/2017 - 08:03
      +1

      Would love to know if you get points for your brother.

      • desafinado74 on 24/07/2017 - 12:31

        Hi Tipu,

        The 20k Velocity points landed into my account 5 days later :)

        • Ash-Say on 24/07/2017 - 13:44

          Just to clarify - you got points twice for the same card?

  • Peck on 18/07/2017 - 12:31

    The wait is killing me :(

    • ozdesi on 19/07/2017 - 19:43

      same here first month is free on monthly basis and I am waiting for next month fees to be charged

  • nightelves on 20/07/2017 - 09:53

    Anyone know if it's possible to sign two policies under the same email?

  • SaberX on 23/07/2017 - 17:23

    I seem to have fallen through the cracks of the free points. I signe dup to the monthly then paid an 'annual' fee to be cheaper in the long run. IT's gone through for a good 1-2 weeks but no points. Seems like if you don't do it from the start you won't get the points as fast by then switching to an annual fee after you sign up initialy monthly.

    Just wondering if anyone else did this? For those who rang up to enquire about bonus points, did you direct it at AMEX or zurich?

  • Windemere on 24/07/2017 - 21:51

    Thanks OP, just signed up, will report back when I get the points credited. Have set up a calendar notification for 6 months time to cancel the policy.

  • [Deactivated] on 25/07/2017 - 02:04

    Signed up well over a month ago and still no points in my account despite being charged my next monthly fee today…

    • kelasen on 25/07/2017 - 08:18

      exactly the same with me :-(

      • [Deactivated] on 27/07/2017 - 20:06

        Mine just came through.

        • Samsungnote10 on 28/07/2017 - 00:53

          Same here. Mine came just then.
          Would it be safe to cancel right now?

        • [Deactivated] on 28/07/2017 - 00:58
          +1

          @hellohello123:

          According to the t&c the policy must be held for at least 6 months otherwise they have the right to terminate any bonus points. So to be safe, no.

        • demiurge on 28/07/2017 - 11:21

          @nurries:
          However if you send the points and close down your card I don't think they can do anything.

  • Gelato on 25/07/2017 - 12:26

    In the 2nd month of policy and my Explorer card got charged. Still yet to see 20K points reflected on my account :(

  • Coops1 on 25/07/2017 - 19:10
    +1

    Blimey, I DONT HAVE MY PONTS YET….. The same as cashbacks, it's not immediate, transaction is probably still pending. Give it a few days. :). First world problems eh!

  • lovetravellinginbiz on 27/07/2017 - 06:13

    Got charged premium on 2nd month. Points haven't hit acct yet.

  • Peck on 27/07/2017 - 09:10

    3 Cards charged 25/7/17. So nice to see 'Movement at the Station'.
    The Challenge now is to see who is the first to post receiving Bonus Points on Monthly Premium Policy :))

    • leski on 27/07/2017 - 09:19
      +1

      three cards all charged on 25/7. Got the first 20k today. Great!

      • Peck on 27/07/2017 - 09:20

        Well done !!

  • chk on 27/07/2017 - 10:06

    I got my second months premium charged today (first month free) and the 20k points landed as well!

    • schmucky on 27/07/2017 - 10:11

      I received mine yesterday. Its great it worked. Otherwise I would have been neg-ed into oblivion. :)

      Easiest 20k.

  • maverick1 on 27/07/2017 - 10:22

    Fantastic - 2nd month's premium got deducted today. Got 20K MR and 20K QFF on our 2 cards.
    Was thinking of closing the Amx Discovery card and also close the policy. Don't think AMX hv any recourse to recover these points even though I dnt plan to hold on to the policy for the stipulated 6M.

  • KingJuf on 27/07/2017 - 10:27

    Got my 20k points! Time to cancel…

  • Peck on 27/07/2017 - 10:34
    +1

    YEEE-HAAAAAAAA!!!!! 60,000 AMEX Ascent Premium points. Insured myself, plus 2 sons.

    • schmucky on 27/07/2017 - 10:52

      Are those linked to the same account? My cards are all linked to Ascent Premium. I only took out cover on one card.

      • Peck on 27/07/2017 - 14:02

        Amex Plat. Charge Card, AMex Platinum Reserve Credit Card, and Amex Explorer. All linked to the same Ascent Premium.

        • schmucky on 27/07/2017 - 14:57

          Thanks Peck. Same setup as me. Still time to sign up. Only question is who else should I ensure??? My dog or cat…

        • Peck on 27/07/2017 - 16:04

          @schmucky: Well they have your surname I am sure! If you can do real people, then it is cheap life insurance, but date of birth is the big determinant of price. I made a big mistake on my d.o.b. wink wink!

    • maverick1 on 27/07/2017 - 11:23

      Assuming u used 3 different amex issued cards?

      • Peck on 27/07/2017 - 14:02

        Yep.

  • SydOzber on 27/07/2017 - 11:19

    charged on 25/07
    points hit my account today.

    time to cancel now

    • TravelKon on 31/07/2017 - 19:27

      Did you cancel your policy? Can you please update us if the points were deducted from the account?

  • bbqwer on 27/07/2017 - 12:08

    Nice 4 cards - 80,000 MR points posted :)

    • Samsungnote10 on 28/07/2017 - 00:54

      Can you use supp cards to get the points?

      I might insure my family members too

  • MathNerd on 27/07/2017 - 12:14

    Nice, got my 20k points today. Thanks shmucky

  • cathyzhang on 27/07/2017 - 12:23

    got the points. Shall we stay for 6 months?

    • bbqwer on 27/07/2017 - 13:03

      Of course Yes. Dont gamble it my friend

    • Peck on 27/07/2017 - 14:05

      I will stay for 7 including the free month. Approx $90 for a guaranteed 60,000, so I am not going to risk it.

  • cloudy on 27/07/2017 - 17:48

    Like others, I got charged 25 July, 2 month, 1st payment, and got points. Thanks OP

  • madmo on 28/07/2017 - 09:28

    Re cancellation - anyone know if the cardholder can cancel the insurance that is under my son/daughter/wife/father/mother/pet's name? Or does the insured person need to write to Zurich directly to cancel?

  • Ash-Say on 30/07/2017 - 06:39

    I got charged on 25 but points have not arrived yet. Is anyone else in the same boat?

    • [Deactivated] on 30/07/2017 - 10:25

      I got charged on 25th. It was pending for a couple of days then cleared a couple of days ago. The points arrived the same day as the charges were cleared. Amex essential..

    • Mellyp on 30/07/2017 - 10:41

      I am. Fingers crossed the points land soon.

      • Ash-Say on 30/07/2017 - 11:26

        I have velocity platinum. The first payment is already cleared on 27 but no signs of points as yet.

    • lookwithin on 05/08/2017 - 16:48

      My partner and I have velocity platinum, and points were also deducted on the 25 Jul. But no sign of bonus points yet. I see desafinado74 with velocity platinum got his/her points 5 days after but he/she paid the annual fees. Fingers cross.

    • YadaYadaYada on 07/08/2017 - 12:43

      The points get credited on the next billing statement for your credit card I think. I received mine today with my new credit card statement.

  • coolsteps on 31/07/2017 - 22:13

    whats the minimum age to qualify for the promo? is it 18 or can you sign up your kids under 18 and still get the 20k points? when is the deadline to apply is it today or the end of the year?

    • griftr on 31/07/2017 - 22:55

      19… just tested it :)

  • coolsteps on 31/07/2017 - 23:19

    can NZ amex issued cards 3774 be used too?

  • TravelKon on 02/08/2017 - 10:43

    In the amex live chat they state the promo ends 31 December can anyone confirm? maybe it is not expired?

    • pingponged on 02/08/2017 - 14:35

      Cant see anything in my insurance tab though…

  • banzini on 02/08/2017 - 12:28

    How long till the points drop? signed up around 3 weeks ago.

  • arctan on 02/08/2017 - 14:06

    I got points last week.

  • Mellyp on 05/08/2017 - 09:57

    Mine have landed

  • krazek on 06/08/2017 - 12:06

    Anyone cancelled after receiving points with no repercussions?

    • demiurge on 12/08/2017 - 01:49

      You can always spend the points and cancel the card as well.

  • griftr on 07/08/2017 - 19:53

    Can anybody confirm whether the welcome letter/pack from Zurich is meant to mention the 20K points?

    • Coops1 on 11/08/2017 - 13:58

      It doesn't. You will still get them

  • SydOzber on 15/08/2017 - 16:23

    cancelled the policy by calling… they have removed the direct debit. was asked to sign a letter and email them to cancel.

  • adamm12 on 16/08/2017 - 13:02

    just got the points also, can you cancel it straight away? I thought you had to have it for 6 months?

    • Coops1 on 16/08/2017 - 14:19
      +1

      according to the terms and conditions, no. I am keeping mine for 6x $4.88 payments

      • Peck on 16/08/2017 - 19:19
        +1

        I agree. It is a Big risk to save a little money! I will keep for 7 months including the free month.

        • demiurge on 16/08/2017 - 22:18
          +1

          unless you close the card too…

        • adamm12 on 17/08/2017 - 08:11

          yeah not worth the risk, I'll just keep it for 6 months..thanks all

        • Coops1 on 17/08/2017 - 09:14

          @demiurge:

          Closing a credit card for the sake of saving $30. Your on a winner there….not.

        • demiurge on 17/08/2017 - 09:24

          @Coops1:
          With the signup bonuses of Amex people open/close cards all the time.

        • Coops1 on 17/08/2017 - 09:38
          +1

          @demiurge:

          …..With an 18month waiting period after closure. Not so sure.

          My Amex is much more valuable to me remaining open. (Initial bonuses, referral bonuses of 240k last year, this deal, $100 shop small, 5000pts for supp card, 3ppd @ everyday gift cards (plat edge), Travel credit balances annual fee, amex rebate offers.

          There is not another card that gives this amount of value over time.

        • bricabrac89 on 17/08/2017 - 12:41

          @Coops1:

          I have the free virgin velocity amex card.

          I don't take a flight every year. I just basically use my card for everyday spending where accepted and have received 1 referral bonus so far and also opted for this insurance deal for further bonus points. My plan (or lack of) is to accumulate points and will eventually use them.

          Anyway, my question… and whilst you're not a financial adviser (well, you might be I don't know), am I worth opting for a card with a fee that offers all the extras?

          I've chosen virgin as my main freq flyer program so would rather not switch, unless it is straight amex points which I could convert.

        • illumination on 19/08/2017 - 00:02
          +2

          @bricabrac89:

          Whether or not you should opt for a card with an annual fee is very dependent on how likely you think you are to be able to use the benefits.

          You mention that you don't take a flight every year, which can makes things a little bit more difficult. The key difference(s) between the free card and the two "cream of the crop" AMEXs would be the points earn and the insurances.

          The two AMEX cards with annual fees that are easily worth considering for most people are:

          • AMEX Explorer, $395 anunal fee, $400 Travel Credit
          • AMEX Platinum Edge, $195 annual fee, $200 Travel Credit

          The combo of the two is deadly and is probably the greatest AMEX combo you could have right now.

          Yes, you may not fly every year, but the travel credit can actually be used on car hire, hotels and/or experiences. If you have an anniversary dinner, or other annual special occasion, you might be able to use your Travel Credit, even just on hotel accommodation.

          At worst, I can imagine you would be able to comfortably sell your Travel Credit at 20% off (or less, through Ozbargain Classifieds). This would make your effective annual fee $75 (Explorer) or $35 (Platinum Edge).

          Now when you consider:

          • Great points earn on these cards into a flexible rewards program (generally considered to be superior to Velocity Points and Qantas points)
          • The insurances (Travel Insurance, Smartphone Screen Insurance, Extended Manufacturer's Warranty)
          • The 2x Lounge Access (Explorer) to AMEX lounges (currently only Sydney, but apparently soon to be Melbourne too)
          • The access to multiple AMEX Statement deals every so often (including "Shop Small")
          • The ability to generate additional supplementary cards which also qualify you for the AMEX statement credits
          • Ability to earn extra points from referrals
          • Access to AMEX exclusive events (e.g. Vivid Sydney lounges)

          I think it is well worth the $35/$75 annual fee.

          TLDR: If you are willing to spend some effort to sell your Travel Credit (if you do not use it yourself), your effective annual fee is likely to be $35 for the Platinum Edge or $75 for the Explorer. After you factor in this effective annual fee, plus all the benefits outlined above, I think the annual fee cards are well worth it.

          It is possible there may be another card worth considering (e.g. AMEX Qantas Ultimate), but they are harder to justify without knowing your situation.

  • bricabrac89 on 17/08/2017 - 12:37

    Got deducted the first payment the other day. Got the 5 points for the $5 it cost me plus the 20k bonus points. Now to wait 6 months before cancelling.

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