Travel Insurance Analysis: NAB Platinum

Information verified correct on February 5th, 2016

Travel insurance, as in all insurance, becomes vitally important when you unfortunately find yourself in a position to make a claim. Up until that time you will have either grudgingly paid the required premium or politely declined, preferring to take the risk that everything will be alright. As in all insurance however, none of us can read the future, and if you hadn’t been prepared to properly insure yourself against certain risks it could cost you dearly.

When travelling it is very important that you are covered by travel insurance for if you are not you could find yourself stranded in a foreign country without any money either injured or ill and no access to medical treatment. It is therefore most important that you fully understand how much you are covered for in any travel insurance that you do take out, especially if you have purchased the cover based on price alone. The NAB Platinum credit card has travel insurance as part of its features but instead of simply accepting this cover as being sufficient we will examine here exactly what level of cover you actually receive if something should go wrong while you are away from home.

NAB Platinum Travel Insurance Medical Cover

One of the biggest risks to a traveller is falling ill or becoming incapacitated while away and the NAB Platinum travel insurance promises to give you an unlimited cover on all reasonable medical costs as well as a daily hospital cash allowance of $100. This hospital allowance is capped however at $15,000. It also gives you unlimited cover for any dental treatment but when you delve deeper into the small print you will find this cover is restricted to only relieving urgent pain. Both of these medical covers are quite generous when compared to that offered in other travel insurance policies.

A problem does arise however if you are, or have, suffered or are still suffering from a medical condition. If you are, or have, it will invalidate this cover if it can be linked in any way to the illness you are suffering while abroad; just something to keep in mind if you are likely to have a relapse of any medical condition during your travels.

Death of Yourself or a Family Member When Travelling

A highlight of the NAB Platinum travel insurance is to be found in its accidental death cover. If you or any of your immediate family members are involved in a non-transport accident which results in a death, you are covered for $150,000 as being the card holder, your spouse for $75,000 and $50,000 for each of your dependent children. If the accident is a transport accident your death cover, as well as that of your spouse, will be lifted to $500,000 and your dependent children’s cover lowered to $20,000.

NAB Platinum Travel Insurance Income Protection

If you are also covered for loss of  income, if the injury was incurred during an accident whilst you are travelling in another country. If this is the case you will be paid an amount of $1,000 a week up to a maximum of 13 weeks. There is however a waiting period of a month after you were due to return to your normal work. This is an injury cover only.

Delay Coverage

If your travel plans are delayed longer than six hours your NAB Platinum travel insurance cover will compensate you an amount of $250 a person to a maximum of $500. If you are made wait a further 12 hours the benefit will be repeated. If it happens that a planned connecting flight is missed through no fault of your own you will be able to claim $3,250 to cover all your family expenses. You can not claim however if the delay is due to the airline carrier rescheduling.

Personal Loss, Damage or Theft Cover

You and your family will have a total insured amount of $20,000 to cover against loss, damage or theft of your personal items while away, or up to $15,000 a person. Your laptop will be covered for up to $6,000 whilst other items will be limited to $2,000 each. Travel tickets or cash loss is not covered.

NAB Platinum Travel Insurance Excesses

For most claims of a property nature there is an excess of $200 per claim that has to be taken into account. Although this excess does not apply to travel delays, death or rental car type claims.

Rental Car Policy

Whilst in Australia you will be covered for an amount of $1,250 but when driving a rental car overseas the cover is extended to an amount of $5,000. The type of vehicle you can drive is restricted but covers most passenger cars. It does not give you cover while driving a rental campervan.

A point that you don’t want to overlook with your NAB Platinum travel insurance is that the insurance only takes effect when you pay 100 percent of your overseas ticket with your card. You will not be covered if you had paid a cash deposit at your travel agency. The card holder, his or her spouse and all your dependent children are covered for your overseas trip for a maximum time of 6 months from the time you left your home address. You will also find you have limited cover while travelling in Australia as well as in-house burglary while at your hotel.

Interstate Flight Insurance Plan

The interstate flight insurance plan will cover travel delays, accidental loss of, theft to accompanied luggage, funeral expenses as a result of accidental death, cancellation/amendment of interstate flight arrangements and rental vehicle excess cover for a maximum of fourteen (14) consecutive days after your interstate journey commences.

  • Travel delays: For flights delayed up to 4 hours or more, the maximum sum insured is $40 per person to a maximum of $120 for families.
  • 12 hours luggage delay: $200 per person up to a maximum of $600 for families.
  • Luggage: Has a maximum insured amount of $750 for each item, set or pair of items, up to a maximum of $2,000 per claim.
  • Funeral Expenses as a result of Accidental Death: $3,000 per person up to a maximum of $9,000 for families.
  • Interstate Flight Cancellation / Amendment Benefit: $3,000 per interstate journey
  • Rental Vehicle Excess cover: $1,250 per interstate journey

To be covered by the interstate flight insurance plan you need to be an eligible NAB cardholder and prior to commencement of your interstate journey you need to have paid 100% of your return interstate airfares, inclusive of any charges, fees or taxes with your eligible NAB credit card. Purchases using your credit card facility need to be directly charged by the merchant.

NAB Premium Credit Cards

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160 Responses to Travel Insurance Analysis: NAB Platinum

  1. Default Gravatar
    Kath | January 22, 2016

    you state A point that you don’t want to overlook with your NAB Platinum travel insurance is that the insurance only takes effect when you pay 100 percent of your overseas ticket with your card.

    I cannot find this information in the policy document nor any reference to a minimum amount paid with NAB CC of $500 Where is this information written, surely if should be in the PDS or on NABs web

    • Staff
      Arra | January 25, 2016

      Hi Kath,

      Thanks for your inquiry.

      I have emailed you a copy of the NAB Platinum Insurance policy information booklet where you can find a reference to the 100% paid overseas travel ticket to be able to activate your cover.

      I hope this has helped.

      Cheers,
      Arra

    • Default Gravatar
      Jake | January 26, 2016

      Hi
      I have read the comments that to qualify for overseas insurance you had to purchase 100% of your tickets to qualify for the complimentary overseas insurance.

      I have found this in a PDS from 2011 but in no current PDS.

      I don’t believe this is true now

      The PDS for NAB QANTAS Platinum one card states that only a minimum of $500 need be used to pay for overseas travel to qualify, no mention of 100% for tickets

      However for interstate travel it does require 100%.

      it is possible some other NAB card does require 100%, not sure.

      Can this be clarified please.

    • Staff
      Jonathan | January 27, 2016

      Hi Jake, thanks for your inquiry!

      As per the PDS released on the 01.06.14, you are eligible for the overseas travel insurance if “Prior to the commencement of your overseas journey, you have paid a minimum of $500 in pre paid overseas transport costs.” You are correct in saying the interstate travel requires 100% of your return interstate airfares.

      Cheers,

      Jonathan

  2. Default Gravatar
    Nick | December 20, 2015

    Hi, In regards to the medical cover could you please define to me what is classed as “Reasonable medical costs” and if there is a maximum amount claimable.
    Thanks.

    • Staff
      Ysa | December 21, 2015

      Hi Nick,

      Thanks for your inquiry.
      As outlined in the NAB Complimentary Insurance policy document, medical expenses will be covered if you become ill or if you have obtained an accidental injury during the overseas journey.
      The insurance covers the medical, surgical, hospital, ambulance and nursing home expenses and the cost of other treatment, given or prescribed by a legally qualified medical practitioner, which are incurred outside of Australia.
      An excess of $200 applies to claims made under this policy.
      For the full details on this travel insurance policy please refer to the link I have sent to your email.

      I hope this helps.

      Cheers,
      Ysa

  3. Default Gravatar
    | September 12, 2015

    Could you send me the NAB booklet on travel insurance. I have just paid for a holiday on my platinum Visa card and want to make sure I have cancelation cover as the holiday is in Dec. also I have two children who are over 18 and students are they covered?

    • Staff
      Sally | September 14, 2015

      Hi Belinda,

      Thanks for your inquiry.

      As long as your children are full-time students, 24 years old or younger and still unmarried, they will be covered for the insurance. Please refer to the PDS I have sent to your email address for more details on the NAB Card Insurance.

      I hope this helps.

      Cheers,

      Sally

  4. Default Gravatar
    Eva | August 15, 2015

    Would I be eligible for NAB Platinum travel insurance if I pay $1200 for flights with paypal linked to my credit card?

    • Staff
      Sally | August 17, 2015

      Hi Eva,

      Thank you for your question.

      The terms and conditions don’t list any limitations regarding using PayPal linked your credit card to pay for your travel costs.

      However, to confirm what you’re covered under, I would suggest that you read the NAB Platinum Insurance Policy Information Booklet for further information on the Travel Insurance cover.

      Otherwise, you may wish to get in contact with NAB directly to confirm what you’re covered under.

      I hope this has answered your question.

      Thanks,

      Sally

  5. Default Gravatar
    Joanne | August 12, 2015

    i have purchased bali air flight tickets which now entitles me to have travel insurance but now there is the volcanic ash problem. if my flights are delayed either way due to this problem is my accommodation also covered?

    • Staff
      Sally | August 12, 2015

      Hi Joanne,

      Thank you for your question.

      According to the NAB Complimentary Insurance policy document, you will be covered up to a certain amount if your scheduled transport is delayed for reasons beyond your control.

      These details can be found on the NAB Card Insurance policy information booklet I have emailed to you.

      You can compare your other travel insurance options in the instance of another ash cloud-caused travel delay here.

      I hope this has helped.

      Thanks,

      Sally

  6. Default Gravatar
    Frane | July 13, 2015

    6 months ago I purchased tickets to Europe for me and my wife with the NAB platinum Visa card. Unexpectedly I have to go for surgery and have to cancel the trip. Am I entitled for reimbursement for cancellation of tickets?

    • Staff
      Jonathan | July 15, 2015

      Hi Frane,

      As per NAB Card Insurance Policy:
      Cover for ‘Journey cancellation’ commences from the time your plan is activated. The plan is activated if, prior to the commencement of your overseas journey, you have paid a minimum of $500 in prepaid overseas transport costs (including travel by air, rail, road or watercraft); and or accommodation costs; and or organised land tour costs all of which are inclusive of any charges, fees and or taxes (excluding foreign currency and traveller’s cheques) with your NAB Card.
      For more information, you can check this page. If you have met these eligibility requirements, you should be covered by the journey cancellation insurance. If you’re unsure, you may wish to get in contact with NAB directly to confirm what you’re covered under.

      I hope this has answered your question.

      Thanks,

      Jonathan

  7. Default Gravatar
    Viv | June 21, 2015

    Which pre-existing health conditions does NAB Platinum underwritten by QBE cover?

    • Staff
      sally.mcmullen@hiveempire.com | June 22, 2015

      Hi Viv,

      Thanks for your question.

      As outline in the insurance policy booklet, the NAB Platinum Overseas Travel Insurance does not cover pre-existing medical conditions.

      You may wish to visit our Travel Insurance for Pre-Existing Conditions page to compare some of your options.

      Thanks,

      Sally

  8. Default Gravatar
    Ion | June 17, 2015

    In your response to a number of the queries, you make the point that at least $500 of transport costs must be paid using a credit card. In the body of your text however(see statement about rental cars) you suggest that 100% of travel costs must have been paid using the credit card. This is very confusing.
    What exactly is the current policy?

    • Staff
      sally.mcmullen@hiveempire.com | June 18, 2015

      Hi Ion,

      Thanks for your question and we’re sorry for the confusion.

      The NAB Travel Insurance requires cardholders to have paid for at least $500 of their travel costs (including 100% of their overseas ticket) using the NAB Platinum card.

      Therefore, if the cardholder’s tickets were $500 or more, then they would not need to pay for any more of their prepaid travel costs using the NAB Platinum card to apply. On the other hand, if the tickets were less than $500, than the cardholder would need to pay for some other prepaid travel costs (such as accommodation, car rental etc) using their NAB Platinum card in order to reach the $500 minimum.

      I hope this has answered your question.

      Thanks,

      Sally

    • Default Gravatar
      Ion | June 18, 2015

      Hi Sally
      Thanks for your response. The NAB Policy Booklet (dated 1 June 2014) states that for the insurance plan to be activated, the cardholder must, “prior to the commencement of the overseas journey, have paid a minimum of $500 in prepaid transport costs (including travel by air, road, rail, or watercraft), and/or accommodation costs” etc using their NAB Credit Card.
      Nowhere is there any suggestion that 100% of ticket costs must have been paid by Credit Card and I, for one, would never have understood it that way. I am now very concerned that I may have travelled unwittingly without insurance – fortunately I have not had to submit any claim but I have to wonder what the response would have been had I done so.
      I am now leaving to go overseas again flying to Europe and then taking a cruise. Of the upfront travel costs amounting to more than $10K, I paid some $2500 using my credit card on the understanding that this, being more than $500, would qualify me for NAB travel insurance. Now I don’t know. I will contact the insurer QBE direct.

    • Staff
      sally.mcmullen@hiveempire.com | June 19, 2015

      Hi Ion,

      Thanks for your response.

      The NAB Platinum Insurance policy information booklet (which is available on the NAB website) mentions on page 5 that “Your cover under this NAB Platinum Overseas Travel Insurance is deemed to have been activated if: you are a current NAB platinum cardholder and prior to the commencement of your journey, you have paid 100% of your return overseas transport costs (airport and/or cruise costs) including charges, fees and/or taxes with your NAB platinum card account.”

      Perhaps you had been looking at another one of NAB’s insurance policy booklets. However, if you’re using the NAB Platinum Card, then you should be referring to this particular policy booklet. I’ve sent you a direct email with a link to the document.

      If you’re unsure what you’re covered for, you may wish to contact QBE directly.

      Thanks,

      Sally

  9. Default Gravatar
    kym | June 16, 2015

    My 13 and 18yr old children, wife and myself are snow skiing in Japan next Jan for 4 days as part of a 3 week holiday around the world. We have used points for airfares. If we pay the $4000 ski package on our NAB platinum one MasterCard, are we covered for our Skiing activities?

    • Staff
      Jonathan | June 16, 2015

      Hi Kym, thanks for your inquiry!

      To be covered by the NAB Platinum travel insurance policy, prior to the commencement of your overseas journey you need to have either “Paid a minimum of $500 in pre paid overseas transport costs”; and or “organised land tour costs all of which are inclusive of any charges, fees and or taxes (excluding foreign currency and traveller’s cheques) with your NAB Card”. To ensure that your ski package qualifies as an eligible purchase under the mentioned categories it would be best to contact QBE Insurance (Australia) Limited who is the underwriter for this policy.

      I hope this helps,

      Jonathan

  10. Default Gravatar
    Louis | June 9, 2015

    As long as I have paid my various flights with my platinum credit card am I fully insured for the total length of my trip including hotel stays not paid by credit card?

    • Staff
      sally.mcmullen@hiveempire.com | June 9, 2015

      Hi Louis,

      Thanks for your question.

      As detailed in the NAB Platinum Complimentary Travel Insurance policy, to qualify for this complimentary insurance policy a minimum of $500 of your prepaid travel costs must be purchased on your NAB card. So if your flights add up to at least $500, the complimentary travel insurance should’ve been activated.

      You may wish to read over the NAB Platinum Insurance Policy Information Booklet for further information on the Travel Insurance cover.

      I hope this has answered your question.

      Thanks,

      Sally

Credit Cards Comparison

Rates last updated February 5th, 2016
Complimentary Travel Insurance Cover Bonus Points Points per $ spent Purchase rate (p.a.) Balance transfer rate (p.a.) Annual fee
St.George Vertigo Platinum
A platinum card with a low interest rate on balance transfers and purchases with a low annual fee.
6 months VISA/MC: 0 AMEX: 0 0% p.a. for 3 months (reverts to 12.74% p.a.) 0% p.a. for 20 months $99 p.a. Go to site More info
American Express Essential Credit Card
Receive a $50 credit on eligible spend and get Smartphone screen insurance combined with a no annual fee for life card.
1 14.99% p.a. 0% p.a. for 12 months $0 p.a. Go to site More info
NAB Premium Card
Long term balance transfer offer with premium benefits such as travel insurance.
6 months VISA/MC: 0 AMEX: 0 0% p.a. for 15 months (reverts to 19.74% p.a.) 0% p.a. for 15 months $90 p.a. Go to site More info
HSBC Platinum Credit Card
Receive $0 annual fee every year if you meet the spend requirement. Enjoy a balance transfer offer and platinum card benefits such as complimentary insurances and concierge services.
4 months VISA/MC: 1 AMEX: 0 19.99% p.a. 0% p.a. for 15 months $0 p.a. Go to site More info
Bank of Melbourne Vertigo Visa Credit Card
One of the lowest rate balance transfer deals combined with a low on-going purchase rate.
VISA/MC: 0 AMEX: 0 0% p.a. for 3 months (reverts to 13.24% p.a.) 0% p.a. for 18 months $55 p.a. Go to site More info

* The credit card offers compared on this page are chosen from a range of credit cards CreditCardFinder.com.au has access to track details from and is not representative of all the products available in the market. Products are displayed in no particular order or ranking. The use of terms 'Best' and 'Top' are not product ratings and are subject to our disclaimer. You should consider seeking independent financial advice and consider your own personal financial circumstances when comparing cards.

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