The best free gifts with life insurance (2018)
We have spent the last week reviewing all the life insurance policies currently available that come with a free gift.
Our findings are below and hopefully, they’ll help you find the best available deals in the UK.
- Which insurer is offering the best welcome gift?
- Can you really get a free iPad with your life insurance policy?
- Who is offering life insurance with a free gift card?
- Are you entitled to the offer and when can you claim?
- What’s hidden in the ‘small print‘?
Insurers use this incentive to encourage you to buy directly from them. But, is the free gift worth it, or can you secure a better policy deal by using a broker?
Read on to learn about the best life insurance with a free gift offers available, (and why they may not be as appealing as they first appear).
Please note, if you purchase life insurance through a broker, like Reassured, generally you’ll not be entitled to the gift.
Legal & General
Up to £150 Amazon.co.uk Gift Card or M&S e-Gift Card
Let’s start with one of the largest insurers in the UK, Legal & General. They are currently offering new customers up to £150 Amazon.co.uk Gift Card or M&S e-Gift Card.
On first impressions, this is one of the most enticing free gifts we found and one which would appeal to many prospective life insurance customers.
But let’s delve into the small print of this free offer. Is everyone entitled to this gift? Well, as with all the policies we researched, no.
As you can see from the data below, the monetary worth of the gift you receive depends on the monthly premium you pay.
- £6 – £10 = £25
- £10.01- £20.00 = £50
- £20.01 – £30.00 = £100
- £30.01+ = £150
In order to receive the top £150 gift card, you’ll need to be paying £30.01 or more every month. In contrast, if your monthly premium is £10 or less, then you’re offered a £25 gift card.
So be mindful when you see an appealing headline, as there’s a good chance you’ll not be entitled to claim it.
In fairness to Legal & General, this tiered approach, ‘the higher the premium, the bigger the gift‘, was used by nearly all the insurers we came across during our research.
Key points with the £150 Legal & General gift card offer:
- You have to apply online in order to receive either headline gift
- If applying over the phone you’re restricted to a £30 M&S gift card
- You’re only eligible for a gift 5 months after your policy starts
- These offers are not available to ‘cashback‘ customers
- Gifts only offered when applying directly via Legal & General
- If you have previously cancelled a Legal & General policy you won’t qualify
- 1 gift per policy sold, 2 per household, (within a 12 month period)
- No cash alternative offered.
Up to £100 Love2Shop Gift Voucher
Zurich is currently offering new customers up to £100 Love2Shop vouchers for taking out a policy directly through their website.
If you’re not familiar with Love2Shop, their vouchers are accepted at over 150 UK brands, including Virgin, Thomas Cook and Debenhams. For a full list of accepted retailers see here »
So this voucher, although less in monetary terms than Legal & General offers the customer a wide choice of different brands.
Again, the value of your gift voucher depends on how much your monthly premium costs.
In Zurich’s terms, it states, ‘we calculate the value of your vouchers as the combined value of your first six months payments, rounded down to the nearest £5, to a maximum value of £100‘.
For example, if your monthly premium is £9.75, after 6 months you’ll have paid £58.50 in premiums. Therefore, you would be entitled to a £55 Love2Shop voucher.
Key points with Zurich’s £100 Love2Shop offer:
- Love2Shop vouchers are emailed to the policyholder’s address
- You’ll not receive the vouchers until you have paid your 6th monthly premium
- If you have cancelled or missed a payment before the 6th month you’ll not receive a gift
- Once you receive your email you have 28 days to complete the Love2Shop registration
- Once registered, your Love2Shop voucher will be emailed within 14 days
- This offer excludes plans taken out over the telephone, through comparison/cashback sites or 3rd parties
- This offer doesn’t apply to anyone who has taken out a policy (with Zurich) within the last year and cancelled
- No cash alternative offered.
Apple Watch Series 3 GPS or Apple Watch Nike+ Series 3 GPS (from £29)
From our research, most life insurance or over 50s policies either offer vouchers, gift cards or who could forget Parky’s Parker pen.
Vitality life insurance, however, is offering something a little different, a choice of 2 different Apple watches.
(Okay, the Apple watches are from £29 and not ‘free‘ with life insurance, but we had to include this incentive in our findings).
Apple products, as I am sure you know, are very sought-after and not cheap. When we looked at the Apple Store a Series 3 with GPS and a Nike+ Series 3 GPS cost from £329!
On the face of it, this is a cracking offer, but let’s dig down into the detail and see who is entitled to an Apple product for just £29.
In order to be eligible to receive an Apple watch firstly, you’ll need to pay a monthly premium of £30 or more for a single policy or £40 or more for a joint policy. (This on its own will exclude a large portion of policyholders, who simply don’t need this level of cover).
You’ll also need to add their ‘Wellness Optimiser‘ or ‘Vitality Optimiser‘ to your smartwatch, which is an additional £3.80 per month.
The optimiser app tracks and rewards you for improving your health, awarding you ‘activity points‘.
However, in order to actually receive the Apple watch for £29, you’ll have to earn a lot of activity points. If you don’t acquire the necessary points, the variable direct debit you have to set up for a 24 month period will mean you’ll end up paying much more.
So while we commend Vitality for offering a health-related incentive, the ‘Apple Watch from £29‘ headline, although achievable, could be perceived as a being a little misleading.
Lastly, you’ll need to complete an online health review. So not that straightforward after all.
Key points with the Vitality Apple Watch for £29 offer:
- You’ll need an iPhone 5 or later model running iOS 11 or above to use Apple Watch Series 3
- You also need to download the Vitality Member app
- GPS + Cellular models are not included from this offer
- Offer only available to members aged 18+
- You’ll need to pass a credit check and make an upfront payment
- You’ll need to agree to an online consumer credit agreement and pay between £0 and £12.50 a month by variable direct debit for 24 months based on the Vitality activity points you earn
- Vitality will calculate their contribution each month based on your activity points earned in the previous month
- You must enter into the credit agreement for yourself, not on behalf of anybody else
- In order to award your Vitality activity points, Vitality and Apple will exchange information regarding your use of Apple Watch.
£75 Gift Card (Amazon.co.uk or M&S) or access to Doctor Care Anywhere (1 year)
There’s a slightly different gift offered by Direct Line too; a choice of either a £75 gift card or access to an online GP service for 12 months.
You’ll become eligible for the M&S or Amazon gift card 3 months after the start of the policy, (assuming you have paid your premiums and not cancelled).
However, it’s the free online GP service that’s more intriguing. Having access to Doctor Care Anywhere is an interesting and much less conventional customer incentive. But who are they and is this product of any use?
Well, Doctor Care Anywhere offers you access to a qualified GP via a secure online consultation. What’s more, you can use the service at home or abroad, between the hours of 08:00 – 22:00 (UK time), 365 days a year.
On the face of it, this sounds pretty appealing. However, it’s important to remember that this is just a free 12-month trial. Thereafter, the free service ends and they’ll probably try and upsell you the paid service.
One other thing worth mentioning is that this offer is not available through Direct Line for over 50s life insurance plans.
Key points with the Direct Line offers:
- You’ll receive an email with a unique code for your Doctor Care Anywhere trial, which must be activated within 3 months
- Cashback customers are excluded from all other Direct Line life promotions
- Limited to 1 gift card per policy and 2 per household
- The Doctor Care Anywhere trial ends after 12 months
- Doctor Care Anywhere is available for up to 4 people per policy
- At the end of the 12 months, you’ll be contacted to see if you want to become a paying subscriber
- No cash alternative to the gift card.
£75 Voucher (M&S, Argos or Next)
MoneySuperMarket is offering a fairly standard £75 voucher to new life insurance customers. You have a choice of M&S, Argos or Next vouchers.
However, given what a big player MoneySuperMarket is in the life insurance marketplace we thought their free gift offering might be a bit more compelling.
You have to purchase the policy either through moneysupermarket.com or LifeSearch Ltd to be entitled to the gift, which is different from most other offers which don’t involve a 3rd party.
After 3 months of paying your premium, you’re eligible for the free gift. However, you’ll have to wait up to 40 days from your 3rd premium before being asked your choice of voucher.
Then you have to wait up to another 28 days before the gift is issued.
Key points with the MoneySuperMarket £75 gift card offer:
- You can only claim 1 voucher per person
- Email to ask which voucher you’d like will come from firstname.lastname@example.org, so you may want to add to your safe sender’s list
- No cash alternative offered.
Up to £510 cashback
Cashback sites, such as the market leaders TopCashback and Quidco, are very interesting and you could make a saving of £500 or more.
However, in order to achieve this enormous headline saving, you have to be paying a huge monthly premium.
For example, TopCashback is currently offering an ‘exclusive’ deal for Beagle Street claiming £400 cashback. Sounds pretty generous right? Who wouldn’t like to make a £400 saving?
However, when you click through you realise you can only achieve this saving if your monthly premium is £70 or more! Which would exclude the vast majority of policyholders.
After that, the saving decreases on a tiered basis. So, if your monthly premium is £5 or less, then your cashback offer is a more modest £50.
In order to receive the cashback, you’ll have to have made 6 consecutive monthly premium payments.
Once you have reached this stage, your cashback will be processed and you should receive the funds within 2-8 weeks.
Lastly, if you have a premium account with either Topcashback or Quidco there’s an annual £5 fee to factor in, (recouped from your cashback sales).
Key points with the TopCashback & Quidco offers:
- Cashback is only paid by BACS or PayPal
- Cashback rates are subject to change, (both up and down)
- By using cashback, you’re generally not eligible for any other offers from that insurer.
FREE Will-writing service worth £150
Beagle Street is offering a free Will-writing service to try and incentivise new customers.
You have to be a UK resident in order to receive the Will-writing offer. However, unlike other gifts, there is not a minimum number of premiums you have to pay before you can benefit.
The offer is for a free ‘simple‘ will. The definition given by Beagle Street for this type of Will is; ‘a Simple Will is a Will that disposes of the customer’s estate to a maximum of six beneficiaries without the use of trusts or tax planning’.
If you have a joint policy you have the option of a ‘Joint Mirror Will‘. This is described as; ‘a Joint Mirror Will is a joint simple Will that disposes of a couple’s estate to the same beneficiaries‘.
It’s important to state that if you require a more complicated Will to be written, this will be at an additional cost, (not covered by Beagle Street).
So this perk won’t be for everyone and depending on your circumstances, it may be that it’s better to spend money on something so important.
Key points with the free will-writing Beagle Street offer:
- Beagle Street pass you onto 1 of 3 legal firms, depending on where you live
- This offer is non-transferable; therefore the Will must be made by the customer/s
- Each eligible customer will only be entitled to 1 free Will.
Over 50 life insurance with free gift
But who is offering the best over 50s gift? Who is entitled to the gift? Are there any pitfalls to be wary of?
Read on to learn all about the best over 50s life insurance with free gift offerings in 2018.
£90 Gift Card (M&S or Argos)
SunLife’s Guaranteed Over 50 Plan is probably the most recognisable policy on the market.
It currently offers a £90 gift card to new customers, the most generous in monetary terms that we found. Although, being restricted to just M&S and Argos doesn’t provide customers with many choices.
One thing worth mentioning here is that you’ll not receive the gift card until you’re 4 months into the policy. (You have to pay 3 months premiums and the first month is free).
Unlike most standard life insurance gifts, you’re eligible whether you apply online or over the phone. Perhaps in recognition of the generational differences in customer behaviour?
Strangely though, if you apply by post you’re only entitled to a £75 gift card.
Key points with the £90 SunLife offer:
- You’ll have to pay 3 months premiums and wait 4 months before being eligible
- You’re entitled to the £90 gift card if you apply either online or by phone
- However, if you apply by post you’ll only be entitled to a £75 gift card
- No cash alternative offered.
£75 Gift Card (Amazon, Argos or M&S)
Another popular over 50s plan is offered by insurer Churchill. Although they don’t offer as valuable a gift card as SunLife, £75, you do get more flexibility because they offer an Amazon option. Which opens you up to virtually every feasible online purchase.
As with most offers we have investigated you’re not able to claim the gift until you have paid in 3 consecutive months premiums (and obviously not cancelled).
Can you see a reoccurring theme?
Key points with the £75 Churchill offers:
- Following the purchase of your policy, you’ll receive an email or letter confirming how to redeem your gift card
- Allow 30 days for delivery of this communication
- All gifts must be chosen within 90 days of the ‘How to claim communication‘ being sent
- 1 gift card per policy sold and limited to 2 per household (within 12 month period)
- No cash alternative offered.
£30 M&S Gift Card or 3 months cashback
We thought it was worth including the OneFamily free gift offer in our review again because it’s a bit different.
Although the £30 free M&S Gift Card is pretty underwhelming, you do have the option of requesting 3 months cashback on your premiums. The only cash back option we identified direct from the insurer.
Although the £30 voucher is bettered by the majority of over 50s life insurance free gifts, OneFamily does issue the gift faster. ‘Usually‘ within 28 days of receiving your 1st premium.
If you choose the cash back option from OneFamily, they’ll return 3 months premiums back to you, but only after they have received 6 months’ premiums.
So, as with all these free gifts, the insurer makes sure you’re committed to the policy and that they have covered their costs, before issuing.
Key points with the OneFamily offers:
- They ‘usually‘ send you the welcome gift within 28 days of receiving your 1st premium
- They reserve the right to wait until they’ve received premiums worth at least as much as your gift
- If you die when you’ve already paid six months premiums, but they haven’t yet sent you the cash back, they’ll pay it to your estate.
£50 Love2Shop Voucher
On the face of it, a £50 Love2Shop voucher is not that exciting as a free welcome gift. However, what we liked about this offer was that policyholders don’t have to pay a certain premium in order to get the full £50 voucher.
Unlike other insurers, whether you pay £10 a month or £50 a month you’re still entitled to the gift after 6 months of paying your premiums.
As mentioned above a Love2Shop voucher actually provides a lot of flexibility, as over 150 well-known brands accept them. Including HMV, Mothercare, House of Fraser and Thomas Cook.
Key points with the Shepherds Friendly over 50s offer:
- If you cancel your over 50s life insurance or stop paying your premiums before you pay your 6th premium, you will not receive a voucher code
- You’ll only receive a voucher code if you leave a valid email address
- Instructions on how to use your voucher code will be sent to you in your email when you receive the code
- No cash alternative offered.
The most important thing is securing the RIGHT cover
So there we have it, the best life insurance and over 50s plans with free gifts as we see it in 2018.
It could be that a free gift is enough of an incentive for you to take out that policy. Especially if you’ve shopped around and all the rates are very similar.
However, we believe the single most important thing is securing suitable life insurance that meets your specific needs, over the entire policy term.
A free gift is obviously an incentive for you to take out a policy. But, in the long-term, it’s much more important (and cost-effective) to make sure you secure the right policy, from the right insurer, at the right price.
At Reassured we use the information you provide to search the market on your behalf, at no cost to you, identifying the very best policies. Then we offer you the choice!
We’re a customer-focused brokerage, here to explain any industry jargon and help you understand the policy, the terms and the application process.
 https://www.legalandgeneral.com/life-cover/ + https://www.legalandgeneral.com/life-cover/life-insurance/marks-and-spencers/
 https://www.zurich.co.uk/life-insurance + https://www.zurich.co.uk/life-insurance/voucher-offer
 https://www.vitality.co.uk/rewards/partners/active-rewards/apple-watch/ + https://www.vitality.co.uk/rewards/partners/active-rewards/apple-watch/apple-watch-terms/
 https://www.topcashback.co.uk/ + https://www.topcashback.co.uk/beagle-street-life-insurance/
 https://www.sunlife.co.uk/life-cover/over-50-life-insurance/ + https://www.sunlife.co.uk/life-cover/over-50-life-insurance/welcome-gift/
 https://www.onefamily.com/insurance/over-50s-life-cover-plus/ + https://www.onefamily.com/gift-terms-and-conditions/over-50s-gift-terms-and-conditions/
 https://www.shepherdsfriendly.co.uk/plans/insurance/over-50-life-insurance/why-us + https://www.shepherdsfriendly.co.uk/l2s-terms-and-conditions/