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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