Pocket an easy 10,000 Qantas Points for as little as $45

By Chris Chamberlin, July 14 2014

Qantas Frequent Flyer members could pocket an easy 10,000 Qantas Points by signing up for cheap insurance policies through ANZ’s OnePath subsidiary.

Cover such as income protection insurance or life insurance for just six months could cost as little as $45, after which you’d get a nice side serve of Qantas Points.

By choosing the minimum insurance benefit, the shortest benefit period and the longest waiting period, members can effectively buy Qantas points at less than face value while also enjoying the benefits of insurance coverage.

The cost for each policy is calculated against a variety of factors, including your age, field of work and smoker status.

For example, selecting the minimum monthly benefit of $1,000, a six month benefit period and a 90 day waiting period, we were able to find some rather generous monthly premiums.

Using an example income of $40,000 a qualified accountant could grab an income protection policy for as little as $7.40 per month, while business consultants could pay $7.82 by entering the following:

For other professions, your overseas travel plans can affect the cost greatly.

Quoting as a domestic journalist, we were offered cover for just $8.82 per month, although when declaring international travel, the price spiked to $16.52 and was flagged as a 'special risk' policy.

The bottom line: those with desk jobs will find the best use for this offer thanks to the the lower premiums, while those in more risky fields of employ likely won't see the benefit.

Assuming you're an accountant and can achieve an overall $45 quote for the six month minimum period, your 10,000 Qantas Points come in at just $0.0045 each.

That's enough for a return business class upgrade between Sydney and Melbourne on flexible tickets, with a net cost of just $22.50 per flight.

The offer doesn’t have a defined end date, although we’d advise readers to act fast and take advantage of the deal while it’s still around.

Once the points hit your account, there's no harm in running to the points bank and swiftly cancelling your policy.

To see if it's worth your while, quotes can be obtained on the ANZ OnePath website.

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Chris Chamberlin

Chris Chamberlin is the Associate Editor of Executive Traveller and lives by the motto that a journey of a thousand miles begins with a single step, a great latte, a theatre ticket and a glass of wine!

Qantas - Qantas Frequent Flyer

09 May 2013

Total posts 73

Another easy way to get a serve of points for a low price is to sign up to a credit card. Currently the JQ MasterCard offers a 15,000 point sign on bonus and a further 15,000 if you spend $3,000 by the end of Sept. The card also offers a reduced annual fee of $69 for the first year, so you could earn a whopping 30,000 points for $69. 

Great advice tabs!

If Virgin Australia Velocity points are your thing, this week's credit card review includes an offer for 40,000 Velocity points after your first spend on the card – see NAB Velocity Rewards Premium cards.

14 Jul 2014

Total posts 8

I just call Onepath sales and have been told that you will be entitled to the 10,000 bonus points only if you have received an e mail inviting you to purchase the offered covers under Qantas bonus points promotion. If this is the case the above add is misleading!

Hi Aaron,

As already advised by email, the Terms and Conditions of the offer don't make any mention of a required invitation:

1. ANZ Income Protection is an 'eligible OnePath policy'. The bonus 10,000 points offer is only available once per new customer for customers who have not previously held an ANZ policy of the same name and who:

(a) apply for a new ANZ Income Protection policy, either online via the links specified by OnePath Life, in this case anz.com/protect, or over the phone by calling 1300 464 888 or another number specified by OnePath Life;
(b) hold and pay the premium for the ANZ Income Protection policy for a minimum period of six (6) consecutive months; and
(c) supply their Qantas Frequent Flyer membership details to OnePath Life within 30 days of taking up the ANZ Income Protection policy.

If customers acquire more than one eligible OnePath policy with the same product name, they are only eligible to be credited with bonus points available as part of an acquisition incentive once and cannot use this offer in conjunction with any other acquisition offer for this product.

Please note that customers who have held an ANZ Income Protection policy within the previous 12 months are not eligible to be awarded bonus points for the acquisition of a new policy of the same name (even if the policy is cancelled prior to applying for the new policy).


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