Has anyone done a cost comparison for the Qantas Assure NIB package?

7 replies

riley

Virgin Australia - Velocity Rewards

Member since 19 Mar 2014

Total posts 358

Has anyone done a cost comparison for the Qantas Assure NIB package?

I compared to my current Bupa and NIB without Qantas and it's dearer on both occasions. Approximately 40% dearer than Bupa with similar cover and 60% refund versus 80%. I received a follow up call today and said I couldn't justify the extra cost for the sake of some points - I might as well just purchase my airfares. The response, whilst polite, did nothing to allay my concerns that the points are directly costed into the insurance package and then some.

Yes I'm aware the points aren't free but interested to hear other people's experiences... Maybe it's just my package falls outside of the sweet spot.

ausJCP

Qantas - Qantas Frequent Flyer

Member since 28 Aug 2014

Total posts 126

Riley, I received the same phone call about an hour ago, and told them in absolutely no uncertain terms that I would not be taking out a policy with Qantas Assure.

I did my homework... Once typical extras are included, the Qantas Assure / NIB product ends up being twice the price of comparable policies in the marketplace. Totally unacceptable.

There is absolutely no way a (fairly miserable) QFF points sign-up bonus would get me on board when the value is so horrendous. I urged the representative to pass this feedback upwards, and he indicated that he certainly would.

Puffery might work in other industries, but not insurance... People hate buying insurance. The insurance product marketplace is a fickle, ugly beast and the only way to win is to out-advertise your peers, and offer competitive pricing.

I made a similar comment / cost comparison in a recent AusBT thread here:

http://www.ausbt.com.au/qantas-assure-health-insurance-wants-fitter-frequent-flyers#comment-66121

I think Qantas Assure is going to price itself out of the market ...before it's even entered the market! Which is a shame, because the points tie-in concept is solid in principle.

ausJCP

Qantas - Qantas Frequent Flyer

Member since 28 Aug 2014

Total posts 126

I don't think NIB is stupid, just greedy. Obviously they'd be perfectly aware that their products are waaaay too overpriced for the marketplace.

NIB has probably licked their lips and thought, "Hey, we can jack the prices up and flog them to wealthy Qantas frequent flyers".

Perhaps a little insultingly, Qantas has gone along with this... The QFF membership base is large and diverse, but your typical member isn't a moron. They've really missed the market, in my opinion.

riley

Virgin Australia - Velocity Rewards

Member since 19 Mar 2014

Total posts 358

Thanks for the comprehensive feedback Jay. It is insulting and I think you nailed it with your comments about people not wanting to pay extra for insurance. 

eminere

Qantas - Qantas Frequent Flyer

Member since 25 Sep 2013

Total posts 371

Fabulous thread and thanks for the analysis Jay.

moa999

Qantas - Qantas Frequent Flyer

Member since 02 Jul 2011

Total posts 835

Like anything, shop around, and don't get signed in by promotions or discounts

karnj

Qantas - Qantas Frequent Flyer

Member since 02 Sep 2016

Total posts 1

Totally agree, comparing products / services can sometimes be a daunting task but worth the effort. As is the case here, better offers elsewhere. Not sure how Qantas was duped into this but they should stick to their core business.

_lee_

Qantas - Qantas Frequent Flyer

Member since 02 Jun 2017

Total posts 5

Reviving for anyone that comes across this, it's worth doing the analysis yourself. I just did a comparison with Medibank and Bupa as I am looking at changing and they came out comparable for me with some upsides and some downsides. This is for a couple with top hospital but basic extra's. 

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