The catch:
The premium is paid every fortnight so you will have to make at least 3 payments to qualify for the gift card. The minimum quote I got is $7.5 so the profit for me is 100-7.5*3= $67.5. Of course YMMV.
Below is extracted from the website:
*Get a $100 gift card after your first 2 months’ cover when you take out Life Insurance, Income Protection or Funeral Insurance.
^Offer available to Insuranceline customers who complete an application for an Insuranceline branded and distributed Life Insurance, Income Protection or Funeral Insurance policy between 1 April 2022 and 30 September 2023 (inclusive) and are issued with a policy with a commencement date prior to 00.01AM (AEST) 1 November 2023. To be eligible policy holders must hold the policy for 2 consecutive months, maintain the initial cover amount for at least 2 months and pay 2 months’ premiums in full. One Gift per customer.
*
$5.94 by opting for the 70% Value Promise