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.

Free life insurance welcome gift card

Our findings are below and hopefully, they’ll help you find the best available deals in the UK.

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.

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Legal & General - Free gift with life insuranceLegal & General
Up to £150 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 Gift Card or M&S e-Gift Card[1].

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.

Amazon free gift card

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.

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:

Zurich free gift with life coverZurich
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[2].

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 »

Love2Shop voucher

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:

Vitality £29 Apple Watch offerVitality
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[3].

Apple Watch Series 3 GPS

(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:

Direct Line - Online free gift offerDirect Line
£75 Gift Card ( 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[4].

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).

Free gift cards via Direct Line

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:

MoneySuperMarket life insurance gift offerMoneySuperMarket
£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[5].

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 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:

TopCashback - Life insurance with free giftTopCashback
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[6]. 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:

Beagle Street - Free Will-writing offerBeagle Street
FREE Will-writing service worth £150

Beagle Street is offering a free Will-writing service to try and incentivise new customers[7].

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:

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Over 50 life insurance with free gift

Over 50 plans, a form of life assurance, have long used a welcome gift to entice older customers to take out a policy.

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.

SunLife guaranteed over 50s plan welcome giftSunLife
£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[8].

M&S gift card from SunLife

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:

Churchill's over 50s £75 gift cardChurchill
£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[9].

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:

OneFamily over 50s giftOneFamily
£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[10]. 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:

Shepherds Friendly fee gift with life insurance offerShepherds Friendly
£50 Love2Shop Voucher

On the face of it, a £50 Love2Shop voucher is not that exciting as a free welcome gift.[11] 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:

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.

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