A summary of changes to your NAB complimentary insurances for personal cards which take effect from 1 November 2023.
The key changes to the booklets are outlined below. This is a summary only, other changes have been made. Please read the updated Policy Information Booklet to make sure you understand the details of the cover provided and to ensure it meets your requirements. Terms, conditions, exclusions, limits and applicable sub-limits apply.
New Card Levels have been added which determine the complimentary insurance benefits that may be available.
Use the Card Level table to determine the complimentary insurance benefits that may be available to you depending on your Card Level. Each Part of the booklet will also identify the complimentary insurance benefits available to you depending on your Card Level.
Not all insurance covers are available for all cards and different conditions may also apply depending on your Card Level, so please refer to each Part of the Policy Information Booklet to determine the complimentary insurance benefits that may be available to you.
Level 1 card means the following credit cards:
Level 2 card means the following credit cards:
Level 3 card means the following cards:
We’ve updated how much notice NAB will give you if the Group Policy is changed or terminated. This will generally be 30 days’ notice except in certain situations (e.g. where the change is favourable to you or where it doesn’t change the insurance cover).
We’ve updated or added various definitions including:
These definitions should be read in conjunction with the relevant section of the Policy Information Booklet.
A letter of eligibility can only be obtained for international travel insurance. You can apply for one online through Allianz Global Assistance , opens in new window .
The limitation of cover section has been updated to clarify that Allianz will not provide cover or be liable to pay any claim or provide a benefit where doing so would create international law risks.
Various changes have been made to:
The table below sets out the amounts and maximum limits of what we will pay under each section of international travel insurance. All limits and sub-limits in the table are shown in Australian dollars.
The cover available is outlined in Part E – The Cover Available and is subject to the applicable terms, conditions, limits, sub-limits and exclusions. The cover described in the table below is a summary only.
The benefit limits table sets out the new amounts and maximum limits of what Allianz will pay under each section of this insurance.
$50,000 per cardholder
$50,000 for a spouse
$25,000 per dependant
Up to a maximum total limit of $150,000.
Your verified income per week, up to a maximum total limit of $13,000 each for a cardholder or spouse.
No cover is available for dependants.
Up to $75 per person per day, up to a maximum total limit of $500 per person for reasonable additional meal costs.
Up to a maximum total limit of $250 per person for reasonable internet use and telephone expenses to reschedule your journey.
3.1 Additional expenses
Up to $4,000 per item for computers, cameras and video cameras.
Up to $1,000 per item for any other covered item, including mobile phones.
1 Where used, the term ‘Unlimited’ means that there is no capped dollar sum insured. Terms, conditions, exclusions, limits and applicable sub-limits apply – refer to part D – Excesses and General Exclusions and Part E - The Cover Available the policy information booklet.
Up to a maximum total limit of $5,000 per cardholder or spouse. Dependants
are included in the limit available to the cardholder or spouse.
Up to a maximum total limit of $5,000 per cardholder or spouse. Dependants
are included in the limit available to the cardholder or spouse.
Level 1 Cards - Up to a maximum total limit of $10,000 per cardholder or spouse. Dependants are included in the limit available to the cardholder or spouse.
Level 2 Cards - Up to a maximum total limit of $5,000 per cardholder or spouse. Dependants are included in the limit available to the cardholder or spouse.
Level 1 Cards - Up to a maximum total limit of $2,500,000 per event for a cardholder or spouse. Dependants are included in the limit available to the cardholder or spouse.
Level 2 Cards - Up to a maximum total limit of $1,000,000 per event for a cardholder or spouse. Dependants are included in the limit available to the cardholder or spouse.
View updated excesses for each cover type in the excess amounts table.
| Section | Cover type | Excess |
|---|---|---|
| 1.1 | Overseas Emergency Assistance (including Medical Evacuation and Repatriation) | Nil |
| 1.2 | Overseas Emergency Medical | $400 |
| 1.3 | Overseas Emergency Dental (Spontaneous Toothache) | $400 |
| 1.4 | Hospital Cash Allowance | Nil |
| 1.5 | Accidental Death | Nil |
| 1.6 | Funeral Expenses | Nil |
| 1.7 | Loss of Income | Nil |
| 1.8 | Assault requiring Hospital Admission | Nil |
| 1.9 | Permanent Disability | Nil |
| 2.1 | Cancellation | $400 |
| 2.2 | Withdrawal of Services | Nil |
| 3.1 | Additional Expenses | $400 |
| 3.2 | Travel delay Expenses | Nil |
| 3.3 | Alternative Transport Expenses | $400 |
| 3.4 | Return Home and Resumption of Journey due to a Relative’s Death or Hospital Admission | Nil |
| 3.5 | Domestic Pet Accommodation | Nil |
| 3.6 | Emergency Accommodation due to Terrorism | Nil |
| 3.7 | Hijack | Nil |
| 4.1 | Luggage | $400 |
| 4.2 | Travel Documents, Transaction Cards & Travellers Cheques | Nil |
| 4.3 | Luggage delay | Nil |
| 4.4 | Replacement Sporting Equipment | Nil |
| 5.1 | Rental Vehicle Excess | $400 |
| 6.1 | Personal Liability | Nil |
| 6.2 | Legal Expenses | Nil |
This insurance has been renamed from interstate flight inconvenience insurance to domestic travel insurance.
The maximum period of cover available is 28 days per journey for Level 1 Card cardholders and 14 days per journey for Level 2 Card cardholders.
The benefit limits table sets out the amounts and maximum limits of what we will pay under each section of domestic travel insurance. All limits and sub-limits in the table are shown in Australian dollars.
The cover available is outlined in Part E and is subject to the applicable terms, conditions, exclusions, limits and applicable sub-limits. All costs and expenses claimed must be necessary and reasonable.
The cover described in the table below is a summary only.
Section
Section
Cover type
Excess
1.1
2.1
3.1
4.1
4.2
This insurance is being removed entirely. This means you won’t be covered under this insurance for an event that occurs on or after 1 November 2023.
The benefit limits table sets out the maximum limits of what we will pay under rental vehicle excess insurance in Australia. All limits and sub-limits in the table are shown in Australian dollars.
The cover available is outlined in Part E and is subject to the applicable terms, conditions, exclusions, limits and sub-limits.
The cover described in the table below is a summary only.
| Level 1 Cards | The amount specified in your rental vehicle agreement up to the maximum total limit of $10,000 for all claims combined during the rental period. |
| Level 2 Cards | The amount specified in your rental vehicle agreement up to the maximum total limit of $5,000 for all claims combined during the rental period. |
|---|
This insurance is now found in the one Policy Information Booklet for all eligible cards.
The benefit limits table sets out the maximum limits of what we will pay under Purchase Protection Insurance.
Purchase price charged to card account except for jewellery, watches and new works of art which are limited to $5,000 per claim. Maximum total limit for all claims in any twelve (12) consecutive month period is $200,000 per card account.
General exclusions have been updated and/or clarified.
Cover applies from the date the manufacturer’s warranty expires and applies for the same period as the manufacturer’s warranty for up to a maximum of one full year. However, there is no cover if the manufacturer’s warranty exceeds five years.
The extended warranty period table sets out examples of how extended warranty periods apply.
| Manufacturer’s warranty period | Extended warranty period |
|---|---|
| 6 months | 6 months |
| 1 year | 1 year |
| 1 to 5 years | 1 year |
| Over 5 years | No cover |
General exclusions have been updated and/or clarified.
Information about the complaints process has been updated for clarity as well as information about the General Insurance Code of Practice.
From 12 June 2024, NAB Rewards Signature Card customers are eligible for complimentary mobile phone insurance.
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NAB acknowledges the Traditional Owners of the land as Australia’s First Peoples and recognises their continuing connection to lands, water and country. We pay our respects to Elders past and present.
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