Nationwide free travel insurance to end 31st December 2021 boo hoo/good riddance

EarthBoy

If you haven't yet received the email, full details are on Nationwide's website:

"About FlexAccount travel insurance | Nationwide" https://www.nationwide.co.uk/current-accounts/help/travel-insurance-flexaccount

roddydogs

Keep £1 in the a/c for the free draw! 

keiran

Just so that we're all clear - Can we stop the monthly £750 payments  NOW but continue to benefit from the free European travel insurance until the end of the year?

EarthBoy

keiran said:

Just so that we're all clear - Can we stop the monthly £750 payments  NOW but continue to benefit from the free European travel insurance until the end of the year?

The answer is on the website, on the link I quoted above.

"So if you take a trip any time this year, your cover will not be affected. You’ll still benefit from your full European travel insurance. We’ve also removed our eligibility criteria for keeping your insurance cover."

Zanderman

keiran said:

Just so that we're all clear - Can we stop the monthly £750 payments  NOW but continue to benefit from the free European travel insurance until the end of the year?

I've not seen any suggestion that this would be the case.  Why would it be?  The original stipulation was that (quoted from an old MSE help page on this):

• To keep the insurance going after activation you must pay in at least £750/month and tell Nationwide if anything changes with your medical situation.

Just because they're ceasing the cover from December doesn't mean the conditions for qualifying for the cover need no longer be met.

Unless someone has seen specific reference to this need being scrapped I would assume the £750 still has to be paid in monthly if you want active cover.  No need after December, obviously, as they'll be no cover anyway then.

diamondchap

Zanderman said:

keiran said:

Just so that we're all clear - Can we stop the monthly £750 payments  NOW but continue to benefit from the free European travel insurance until the end of the year?

I've not seen any suggestion that this would be the case.  Why would it be?  The original stipulation was that (quoted from an old MSE help page on this):

• To keep the insurance going after activation you must pay in at least £750/month and tell Nationwide if anything changes with your medical situation.

Just because they're ceasing the cover from December doesn't mean the conditions for qualifying for the cover need no longer be met.

Unless someone has seen specific reference to this need being scrapped I would assume the £750 still has to be paid in monthly if you want active cover.  No need after December, obviously, as they'll be no cover anyway then.

Anyone who has seen the post above yours will have seen the 'specific reference' as will those who have looked at the relevant part of the Nationwide website:  https://www.nationwide.co.uk/current-accounts/help/travel-insurance-flexaccount

MACKEM99

As a Building Society, we’re run on ‘mutual principles’. This means that whatever we do will always be for the mutual good of all our members.

So how does the removal of an element of the flex account benefit those it is being taken away from?

General_Grant

MACKEM99 said:

As a Building Society, we’re run on ‘mutual principles’. This means that whatever we do will always be for the mutual good of all our members.

So how does the removal of an element of the flex account benefit those it is being taken away from?

The argument would be on the "mutuality".   The cost to the mutual society (Nationwide Building Society) for running the scheme would have been shared by all members but benefiting only those meeting the Flex criteria.  So, by removing the cost, all members share in the cost saving.

Daliah

General_Grant said:

So, by removing the cost, all members share in the cost saving.

Can't wait to see the effect of that cost saving ⁠🤣⁠

[Deleted User]

General_Grant said:

MACKEM99 said:

As a Building Society, we’re run on ‘mutual principles’. This means that whatever we do will always be for the mutual good of all our members.

So how does the removal of an element of the flex account benefit those it is being taken away from?

The argument would be on the "mutuality".   The cost to the mutual society (Nationwide Building Society) for running the scheme would have been shared by all members but benefiting only those meeting the Flex criteria.  So, by removing the cost, all members share in the cost saving.

It wasn't provided on newer Flexaccounts, so should have been phased out years ago.