Travel Insurance Analysis: NAB Platinum

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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 0 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.

Minimum Age18 years of age
Available to Temporary ResidentsNo
Credit Rating RequirementGood
Min Credit Limit
This is the lowest credit card limit that you can request. It is possible to apply for a higher credit card limit but not a lower one than this figure.
$6,000
Annual Fee$90 p.a.
Minimum Repayment2%
Late Payment Fee$5
Over Limit Fee$0
Cash Advance Fee1.75% of the cash advance amount or minimum fee of $1.75, whichever is greater
Overseas Emergency Replacement$0
Overseas ATM Balance check$0
Overseas ATM Withdrawal Fee$4
Foreign Currency Conversion Fee (VISA)3% of transaction value
Gambling Transactions AllowedNo
Additional Cardholder Fee$0
Number of Additional Cardholders1
BPAYYes
ChequeYes
Direct DebitYes
Australia PostYes
Phone BankingYes
Internet Banking TransfersYes
In BranchYes
MailYes
Pros
  • 0% p.a. on balance transfers for the first 15 months. One of the best offers on the market. This card is one to seriously consider if you are looking to transfer the balance of a card at a low interest rate.
  • This card gives you a complimentary membership to the VIP Lost Card Cover Program.
Cons
  • There is an interest free period of only 44 days compared to other cards 55 days interest free period.
  • There is a high annual fee of $90.
  • There is no rewards program and this means that you are paying excessive fees without receiving any rewards
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This page was last modified on 13 November 2014 at 19:35.

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132 Responses to Travel Insurance Analysis: NAB Platinum

  1. Default Gravatar
    Alan | April 26, 2015

    With your travel insurance how many days of travel am I insured for ?

    • Staff
      Jonathan | April 29, 2015

      Hi Alan, thanks for your inquiry!

      This policy provides a maximum duration coverage of six (6) consecutive months. The expiry of six (6) consecutive months following the time that you leave your usual place of residence in Australia to travel overseas.

      Cheers,

      Jonathan

  2. Default Gravatar
    Heather | April 20, 2015

    I have a 100 year old mother in law. My husband and I are travelling to UK in August. If she were to pass away while we are away and wish to return home for the funeral, are we covered under the policy? When you talk about travel costs, is that airfares to and from destination?

    • Staff
      Jonathan | April 21, 2015

      Hi Heather, thanks for your inquiry!

      This overseas travel insurance policy with NAB is available to current NAB platinum cardholders who are under 90 years of age. Please refer to the following link for insurance policies for seniors.

      Cheers,

      Jonathan

    • Default Gravatar
      Heather | April 21, 2015

      We already have a Nab platinum card and have paid for our return airfares with it. My question was, does the travel insurance policy cover either cancellation of trip or early return in the event that something happens to, or my 100 year old mother passes away while we are away?

    • Staff
      Jonathan | April 22, 2015

      Hi Heather, thanks for your response.

      As per the terms and conditions “We will pay for the necessary and reasonable extra travel and accommodation expenses (including the cost of meals above the amount you had budgeted for less any refund received for the unused prepaid travel and accommodation arrangements) incurred by you due to: the unexpected death, accidental injury, or illness of your relative under eighty (80) years of age, business partner or travelling companion.” (Sub section 3.5 Page 15 NAB Card Insurance Policy Information PDF)

      I hope this has helped.

      Warm regards,

      Jonathan

  3. Default Gravatar
    belinda | April 8, 2015

    Do I need to notify any one about my trip. I have paid for my flights and accommodation on my Platinum nab visa card. I have also paid with PayPal linked to my card.

    • Staff
      Jonathan | April 8, 2015

      Hi Belinda, thanks for your inquiry!

      Even though it is not mandatory, it is recommended to let your bank know about your travel plans for security purposes in the event that your card is lost/ damaged etc overseas.

      Cheers,

      Jonathan

  4. Default Gravatar
    wendy | March 27, 2015

    does this travel insurance which is free with the above credit card include medevac if overseas and required.
    thanks

    • Default Gravatar
      wendy | April 1, 2015

      Thanks for your reply, can we pay just for ambulance cover with the bank insurance as we are covered for heaps of other incidents which are included in free travel insurance.
      regards
      Wendy

    • Staff
      Jonathan | April 1, 2015

      Hi Wendy, thanks for your response!

      To allow me to assist you further could you please clarify which bank insurance policy you are covered under? It may be best to contact NAB directly so they can best advise on your current bank insurance cover and needs.

      Cheers,

      Jonathan

    • Staff
      Jonathan | March 27, 2015

      Hi Wendy, thanks for getting in touch with us!

      Please note that ambulance costs are not covered under this policy.

      Cheers,

      Jonathan

  5. Default Gravatar
    Saija | March 15, 2015

    Hi
    Does it cover flight changes due to bad weather with in the state? Or over seas travel only.
    Thanks
    Saija

    • Staff
      Jonathan | March 16, 2015

      Hi Saija, thanks for your inquiry!

      This policy does cover interstate flight insurance. The terms and conditions do not exclude bad weather for this cover. However to be entirely safe that you are covered in this situation, it would be best to contact NAB directly.

      Cheers,

      Jonathan

  6. Default Gravatar
    Fran | March 2, 2015

    Hi,

    I have purchased over $500 worth of holiday expenses on my platinum card, how do I activate the holiday insurance my myself and my family? Do we need to fill in a form?

    Thanks
    Fran

    • Default Gravatar
      Robert | March 13, 2015

      Hi, I have paid 100% of my overseas flights, cruise & train travel, some with my NAB. Platinum credit card & some with my NAB. Amex credit card, both cards are linked to the same account. Also I am 75 yoa.
      Am I eligible for your credit card travel insurance.
      Regards Robert.

    • Staff
      Jonathan | March 16, 2015

      Hi Robert, thanks for your inquiry!

      The travel insurance is activated when a minimum of $500 of your prepaid travel costs is purchased on your NAB card. NAB’s overseas travel insurance is available to current NAB platinum cardholders who are under 90 years of age.

      Cheers,

      Jonathan

    • Staff
      Jonathan | March 2, 2015

      Hi Fran, thanks for your inquiry!

      The travel insurance is activated when you put a minimum of $500 of your prepaid travel costs on your NAB card, no form is needed.

      Cheers,

      Jonathan

    • Default Gravatar
      Fran | March 3, 2015

      Thank you

  7. Default Gravatar
    Mel | February 24, 2015

    Does the overseas travel insurance definitely cover your spouse? My fiancé is the cardholder and my name is not on the card. Just want to be 100% sure I’m covered as well. All the flights and accommodation expenses were paid on the credit card

    • Staff
      Jonathan | February 25, 2015

      Hi Mel, thanks for your inquiry!

      The travel insurance covers you and your spouse and/or your dependent children who are travelling with you for the entire overseas or interstate journey.

      Cheers,

      Jonathan

  8. Default Gravatar
    Tina | February 15, 2015

    Does this cover our daughter who will turn 21 one month before travel but is still a dependent and is studying full time

    • Staff
      Jonathan | February 16, 2015

      Hi Tina, thanks for your inquiry!

      As per the terms and conditions “all children and grandchildren must be Dependent and under 21.” As a result once the child has turned 21 they will not be covered. For a list of travel insurance options please see this page.

      Cheers,

      Jonathan

  9. Default Gravatar
    Terry | January 31, 2015

    What is the Policy Number for NAB Platinum credit card travel Insurance

    • Staff
      Jonathan | February 2, 2015

      Hi Terry,

      Thanks for your question.

      Unfortunately this information isn’t publically available, so you will need to get in contact with NAB directly to find out your policy number.

      Thanks,

      Jonathan

  10. Default Gravatar
    Vicky | January 27, 2015

    does the insurance cover the cost of cancelled internal flights due to extreme weather conditions such as a blizzard?

    • Staff
      Jonathan | January 28, 2015

      Hi Vicky,

      Thanks for your inquiry!

      As per the terms and conditions “In addition, we will reimburse your Reasonable additional travel and accommodation expenses if a disruption to your Journey Arises from the following reasons:
      Your scheduled or connecting transport is cancelled, delayed, shortened or diverted because of a strike, riot, hijack, civil protest, weather or natural disaster.”
      For the full terms and conditions please refer to the PDF I have sent to you via email.

      I hope this helps!

      Cheers,

      Jonathan

    • Default Gravatar
      Vicky | January 28, 2015

      Thank you Jonathon

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