Has anyone done a cost comparison for the Qantas Assure NIB package?

Has anyone done a cost comparison for the Qantas Assure NIB package?

I compared to my current Bupa and NIB without Qantas and it's dearer on both occasions. Approximately 40% dearer than Bupa with similar cover and 60% refund versus 80%. I received a follow up call today and said I couldn't justify the extra cost for the sake of some points - I might as well just purchase my airfares. The response, whilst polite, did nothing to allay my concerns that the points are directly costed into the insurance package and then some.

Yes I'm aware the points aren't free but interested to hear other people's experiences... Maybe it's just my package falls outside of the sweet spot.

Riley, I received the same phone call about an hour ago, and told them in absolutely no uncertain terms that I would not be taking out a policy with Qantas Assure.

I did my homework... Once typical extras are included, the Qantas Assure / NIB product ends up being twice the price of comparable policies in the marketplace. Totally unacceptable.

There is absolutely no way a (fairly miserable) QFF points sign-up bonus would get me on board when the value is so horrendous. I urged the representative to pass this feedback upwards, and he indicated that he certainly would.

Puffery might work in other industries, but not insurance... People hate buying insurance. The insurance product marketplace is a fickle, ugly beast and the only way to win is to out-advertise your peers, and offer competitive pricing.

I made a similar comment / cost comparison in a recent AusBT thread here:

http://www.ausbt.com.au/qantas-assure-health-insurance-wants-fitter-frequent-flyers#comment-66121

I think Qantas Assure is going to price itself out of the market ...before it's even entered the market! Which is a shame, because the points tie-in concept is solid in principle.

I don't think NIB is stupid, just greedy. Obviously they'd be perfectly aware that their products are waaaay too overpriced for the marketplace.

NIB has probably licked their lips and thought, "Hey, we can jack the prices up and flog them to wealthy Qantas frequent flyers".

Perhaps a little insultingly, Qantas has gone along with this... The QFF membership base is large and diverse, but your typical member isn't a moron. They've really missed the market, in my opinion.

Thanks for the comprehensive feedback Jay. It is insulting and I think you nailed it with your comments about people not wanting to pay extra for insurance. 

Fabulous thread and thanks for the analysis Jay.

Like anything, shop around, and don't get signed in by promotions or discounts

Totally agree, comparing products / services can sometimes be a daunting task but worth the effort. As is the case here, better offers elsewhere. Not sure how Qantas was duped into this but they should stick to their core business.

Reviving for anyone that comes across this, it's worth doing the analysis yourself. I just did a comparison with Medibank and Bupa as I am looking at changing and they came out comparable for me with some upsides and some downsides. This is for a couple with top hospital but basic extra's.