American Express Life Insurance usually feels like a slightly tangential product for Amex cardholders, with no linked accounts or ongoing bonus points on your policy spend.
Until the end of May though, Amex are offering a 5,000 point kicker to holders of American Express issued cards (so non-bank cards) for new policy holders when signing up.
The points will hit your account 8-10 weeks after the first premium is paid, and you should be able to tweak you cover levels so that you can easily get low cost (and low coverage) and make use of the bonus points.
There’s also no cost for the first month of cover either, which is thrown in for free.
I can’t find a reference to this offer online anywhere, so here’s a depersonalised copy of the letter I received in the mail:
In a nutshell, you’ll need to sign up for a life policy using the promotional code amexlife4.
Here are the key terms:
- Only available to new policy holders
- Who are Australian residents, between 19 and 69
- Who apply by May 31 and pay using an Amex Australia issued card, enrolled in either Membership Rewards, Qantas Direct, Qantas Frequent Flyer or Velocity Frequent Flyer
- Bonus points will only be allocated once per card account
- If you have previously held Amex life insurance, you won’t be eligible
This is a quick and easy way to earn 5,000 points – I was quoted just $10.33 monthly for the lowest level of cover. If you want the cover, then even better.
The PDS for American Express Life Insurance is here and to be clear, I make no commissions from referrals to this product.