Best life insurance with free gift deals 2020

At Reassured, we've spent time reviewing the best life insurance with free gift offers available in 2020.

Continue reading to learn all about the best life insurance offers currently available in the UK.

We hope our in-depth and up to date article saves you valuable time and money...

Life insurance with free gifts

In this in-depth article we investigate

  • Which insurer is currently offering the best welcome gift?
  • Are you entitled to the free gift and when can you claim the prize?
  • Can you get life insurance with a free iPad?
  • What's really hidden in the insurers small print?
  • Does the cost of your premium determine the value of the gift?

What kind of gifts can you expect?

Life insurance providers will offer a wide range of free gifts to entice you to arrange cover with them.

The most common is some form of gift card, whether that be for Amazon, M&S or another high street retailer.

However, it's been known for insurers to offer more extravagant gifts from Xbox's and PS4s to laptops and TVs.

Whilst everyone loves to receive a freebie, it's important to remember that ultimately the best life insurance for you will be one where the level of cover meets your needs, rather than based on the free gift you receive.

To discover the right policy to meet your needs, simply get in touch to discuss your options.

Below you'll find details on what the major insurers are currently offering…

Compare the Market - £195 Amazon gift card

Compare the Market are offering an Amazon gift card up to the value £195.

Online giants Amazon provide you with a massive range of products to choose from.

Compare the Market life insurance with free gift

However, the value of the gift card will depend on the cost of your monthly premiums and also the specific insurer you choose.

For example; if your monthly premium is £0 - £10 with Zurich you'll receive a £35 gift card, with Legal & General and Beagle Street you’ll get a £30 gift card and with all other brands you'll get £25 in vouchers.

The maximum £195 gift card can be achieved for policies with Beagle Street and your monthly premium must be £50.01 a month or above.

Unlike most other offers, you're eligible for this offer after paying just 3 months of premiums and you'll be contacted within 45 days of your 3rd payment.

Key points with the Compare the Market free gift:

  • You have to pay 3 months premiums before you can claim your gift
  • Offer only available online
  • You'll be offered your free gift 45 days after paying your 3rd premium
  • The value of the gift you receive depends on the insurer
  • 1 gift card per policy
  • Offer runs from 01/02/20, no expiry date stated

Website: www.comparethemarket.com/life-insurance/content/with-free-gift

Direct Line - £180 Amazon, M&S or Love2Shop gift card

Direct Line are offering a gift card from Amazon, M&S or Love2Shop up to the value of £180.

Vouchers are sent after you've paid 6 months premiums and its value is calculated from how much you pay a month.

Direct Line life insurance with free gift

For example; if your monthly premium is between £6 and £10 a month you'll receive a £35 voucher; if you pay between £10.01 and £20 a month you'll receive a £60 voucher...to receive the full £180 gift card you'll need to be paying over £30 a month.

You may not be aware that Direct Line life insurance is actually provided through Legal & General.

As a result, if you've previously cancelled a Legal & General policy, you'll not qualify for this Direct Line offer.

Key points with the Direct Line free gift:

  • You have to pay 6 months premiums before you can claim your gift
  • Value of the gift will depend on the monthly premium of the policy
  • Cashback customers are excluded
  • You're limited to 1 gift card per policy
  • If you've previously cancelled a Legal & General policy, you'll not qualify
  • Offer runs from 22/07/19, but no expiry date stated

Website: www.directline.com/life-cover

Churchill - £180 Amazon, M&S or Tesco e-gift card

Churchill are offering an e-gift card for either Amazon, M&S or Tesco up to the value of £180.

Again, the value of the gift card is dependent on the cost of your premiums and will be issued after you've paid your premiums for 6 months.

Churchill life insurance with free gift

For example; if you pay between £4 - £10 a month you get a £35 gift card; if you pay between £10.01 and £20 per month you receive a £60 gift card and so on until the maximum of £180 if you pay over £30 a month.

Churchill life insurance is now provided through AIG, (having previously worked with Legal & General).

Therefore, if you've previously cancelled an AIG policy, you'll not qualify for the free gift.

Key points with the Churchill free gift:

  • You'll receive your free gift after paying your premiums for 6 months
  • The offer is available only to customers who take out Churchill term life insurance policy
  • Cashback customers are excluded from this offer
  • Only 1 person per policy and 2 people per household are eligible
  • If you've previously cancelled an AIG policy, you'll not qualify
  • Offer runs from 22/07/19, but no expiry date stated

Website: www.churchill.com/life-insurance

MoneySupermarket - £100 Amazon gift card

MoneySupermarket are currently offering a £100 gift card for Amazon.

You're eligible for 1 gift card per policy and you have to take out cover online to claim the free gift.

MoneySupermarket life insurance with free gift

As per most offers, you'll only qualify for the gift card after making 6 consecutive monthly premium payments.

After you've paid your 6th monthly premium you'll be emailed within 40 days to ask which gift card you'd like to claim.

This is a good one if you're looking to pay low premiums, as you still qualify for the £100 gift card as it's not dependent on how much you pay each month.

Key points with the MoneySupermarket free gift:

  • You have to pay 6 months premiums before you can claim your gift
  • Free gift not dependant on monthly premium price
  • You'll be offered your preferred gift 40 days after paying your 6th premium
  • You have to apply online to be eligible
  • You're limited to 1 gift card per policy
  • You must have taken out the policy after 00:01 on 20/12/19, no expiry date stated

Website: www.moneysupermarket.com/life-insurance/with-free-gift

Beagle Street - £100 Amazon gift card

The current offer from Beagle Street is an Amazon gift card of up to £100.

You’ll be eligible for the offer as a new customer to Beagle Street and after you’ve paid at least 6 months premiums.

Beagle Street life insurance with free gift

The value of your gift card will depend on how much your monthly premium is. The minimum premium amount to qualify for this offer is £10.

For example: if your monthly premium is £10 - £19.99 you’ll receive a £50 voucher if your premium is £19.99 - £29.99 a month you’ll receive a £75 voucher. To receive the full £100 voucher, your premium must be £30 or more a month.

Key points with the Beagle Street free gift:

  • You’ll receive your vouchers after paying your premiums for 6 months
  • Your monthly premium must be at least £10 to qualify for this gift
  • The offer can be used once per person per policy
  • You’ll be offered your gift card 30 days after paying your 6th premium
  • Offer is only valid on policies taken out on/or after 17/02/2020 (online or by phone directly from Beagle Street)

Website: www.beaglestreet.com

Zurich - £100 John Lewis, Amazon or Love2Shop gift vouchers

Zurich have updated their free gift offering. As of 1st September 2019, you can claim up to £100 in gift vouchers from your choice of John Lewis, Amazon or Love2Shop.

Zurich life insurance with free gift

Love2Shop gift cards are accepted with over 150 retailers, including Halfords, GAP, M&S, Currys, H. Samuel and Boots.

As with all free gift offers you have to wait a period of time before being eligible. With Zurich, the vouchers will be issued after you've paid your 6th consecutive monthly premium.

The value of the voucher received is calculated from the combined value of your 1st 6 months premiums, rounded down to the nearest £5.

For example; if you pay £5 a month you'll receive a £30 voucher; if you pay £10 you'll get a £60 voucher and so on...until the maximum of £17+ per month in order to get the full £100 worth of gift vouchers.

Key points with the Zurich free gift:

  • You have to pay 6 months premiums before you can claim your gift
  • You can apply online or via phone
  • You must use promo code ZOFFERS100 online
  • You'll not be eligible if you have cancelled a Zurich life insurance policy within the last 12 months
  • This offer is only valid on policies taken out on or after 1st September 2019 until 31st December 2020 (your policy must start before 1st July 2021)

Website: www.zurich.co.uk/life-insurance/voucher-offer

Vitality - Savings & discounts with reward partners

Vitality is a little different and offers an extensive range of discounts and savings.

This is summed up by Vitality's marketing slogan; positively different.

Vitality life insurance with free gift

Unfortunately, it isn't that easy to claim Vitality's enticing free rewards and savings, (which can be a little confusing)...

To be eligible you'd need to be on a VitalityLife insurance plan with either the Wellness Optimiser or the Vitality Optimiser, which come at an additional £4.50 a month.

What's more, your monthly premium for a single policy would have to be £45 or more, which is more cover than the majority of us require.

If your monthly premium is £45 for a single plan or £60 for a joint plan, then you’ll have access to Vitality Lite rewards for an additional monthly fee of £1.75 per person.

Reward partners include; Champneys, Runners Need, WW and Garmin.

If your monthly premium is £45 or above for a single plan, then you’ll have access to Vitality Plus rewards for an additional monthly fee of £4.50 per person.

Reward partners include; Vue/Cineworld, Virgin Active and Amazon Prime.

If your monthly premium is £60 or over (single and joint plans), then you’ll have access to the full range of Vitality Plus rewards for an additional monthly fee of £4.50 per person.

Reward partners include; Vitality American Express® Credit Card.

Vitality also offer their customers the opportunity to receive 40% off monthly gym memberships with Virgin Active or Nuffield Health.

Again, you must have a VitalityLife plan with Vitality Optimiser or Wellness Optimiser for an additional monthly fee.

Key points with the Vitality free gift:

  • Terms & Conditions apply to all reward schemes
  • Must have the Wellness Optimiser or Vitality Optimiser reward add on for £4.50 a month
  • Track your activity and earn Vitality points for access to better discounts
  • Your premium must be £45 or more
  • No expiry date.

Website: https://www.vitality.co.uk/rewards/partners/

Promis Life - £100 Argos gift card

Promis Life, a rising specialist life insurance provider, are currently offering a free £100 Argos gift card for new customers that take out a policy directly with them.

Promis life insurance with free gift

This could be the Funeral Protection Promise policy (life insurance to help with funeral costs), or the Over 50s life insurance policy they have available.

Policies must be purchased by calling a qualified Promis Life telephone number or via the Promis Life website.

The gift card will be issued after your first 6 premium payments and will be despatched by post up to 8 weeks following this.

In the instance of a joint policy, only one free gift will be issued.

Key points with the Promis Life free gift:

  • Free gift for new customers taking out a policy after 01/01/20
  • Only one free gift per policy
  • New customers may not be eligible who’ve previously bought and cancelled a policy
  • Offer can’t be used with any other offer or promotion
  • No expiry date

Website: https://promislife.co.uk

Virgin Money Life Insurance - Exclusive discounts for Virgin Money customers

While you won’t receive a physical gift when taking out life cover with Virgin Money, you’ll benefit from a range of discounts.

As a Virgin customer, you’ll benefit from discounts on Virgin holidays, Virgin travel, entertainment, as well as access to Virgin Money Lounges.

Virgin Money life insurance with free gift

(Please note that Virgin Money have decided to close their lounges during the Coronavirus pandemic).

Virgin Money offers two types of life insurance; level term and decreasing term. One of these policies must be taken out to make you a Virgin Money customer and eligible for the discounts.

Terms and conditions will apply to each offer.

Key points with the Virgin Money life insurance free gift:

  • Discounts are subject to change
  • Terms and conditions will apply to discounts
  • Discounts only valid when booking through a dedicated promotions phone line
  • No expiry date

Website: https://uk.virginmoney.com/virgin/life-insurance/

Smart Insurance - £75 Amazon voucher

Smart Insurance are offering a £75 amazon voucher to customers who take out a family life insurance policy.

This offer only applies to new Smart Insurance customers and is only valid with a family life insurance policy.

Smart Insurance life insurance with free gift

You'll not be eligible if you take out a guaranteed life insurance policy or a personal accident policy.

You'll receive your gift card once you have paid 6 monthly premiums and the total amount of premiums paid exceeds the gift card amount (£75).

Key points with the Smart Insurance free gift:

  • Offer only applies to family life insurance policies 
  • You must have paid 6 months premiums and the total amount paid must exceed the free gift amount 
  • Only one gift card per policy
  • Free gift is not valid if your policy id purchased with any other gifts or offers

Website: www.smartinsurance.co.uk

Post Office - £50 M&S, Argos or Amazon gift card

The Post Office is now offering £50 of either M&S, Argos or Amazon gift card, (having previously offered an One4all gift card).

To qualify for the voucher you need to buy a Post Office Money Life Insurance Policy.

Post Office life insurance with free gift

Unlike most other providers you can apply either online, by phone or in a branch in order to qualify.

Something else that is different with Post Office is that you have to retain the policy for a 180-day qualifying period.

You also need to make at least 6 monthly payments and the gift card will be sent out within 28 days after the 180 day qualifying period has ended. Resulting in a significant wait.

As with most other companies, it's limited to 1 gift card per policy and 2 gift cards per household.

Key points with the Post Office free gift:

  • You have to pay 6 months premiums before you can claim your gift
  • There's a 180-day qualifying period
  • Only 1 person per policy are eligible and 2 gift cards per household
  • Cashback customers are excluded from this offer
  • No expiry date stated

Website: www.postoffice.co.uk/life-cover

Co-op Insurance Service - £50 Co-op food vouchers

If you take out life insurance with the Co-op you'll receive £50 in Co-op food vouchers.

This was the only offer we found which offered food vouchers and we thought it was worth including in our list.

Co-op life insurance with free gift

Interestingly, Co-op life insurance is provided, underwritten and administered by Royal London - who don't currently offer a free welcome gift.

You must be a new customer (someone who hasn’t previously had life cover of the same type from Co-op) and you’ll need to purchase your life cover policy directly from Co-op insurance services to qualify for this free gift.

A nice perk with Co-op is that you only have to wait 4 months (not 6) before being able to claim your gift. You can expect to receive your vouchers within 180 days from the start date of your policy.

Key points with the Co-op free gift:

  • You can apply online or by phone
  • You're limited to 1 free gift per policy
  • The vouchers can't be used on Co-op brands bought in non-Co-op branded stores, like Costcutter and NISA
  • You'll receive your gift after paying 4 months of premiums
  • Available to all new customers between 22/01/19 - 30/09/20

Website: www.co-opinsurance.co.uk/life-insurance

Reassured - £30 Love2Shop gift vouchers, (when you recommend a friend)

At Reassured we're currently offering a £30 Love2Shop gift voucher when you refer a friend and that friend subsequently takes out a life insurance policy through us.

Reassured life insurance with free gift

Once the referred friend has made 3 premium payments and this has been confirmed, we'll send you a claim form, to be returned to us at the voucher due date.

The vouchers will then be sent to you within 3-5 working days.

And the best bit? This offer is unlimited so you can recommend as many friends as you like to claim the £30 vouchers each time.

Key points with our Reassured free gift:

  • The free gift can be claimed once the referred friend has taken out a policy through Reassured
  • The offer is unlimited per friend referred, not per policy
  • The referred friend must have made 3 successful premium payments
  • No expiry date

Cheap life insurance with free gift

The best way to arrange cheap life insurance is to compare quotes from multiple insurers.

However, there are a number of other steps you can take:

  1. Arrange cover as soon as possible to prevent increased premiums due to older age and/or ill-health
  2. Choose the most suitable form of life insurance to avoid paying for more expensive cover than needed
  3. Only arrange the amount of cover you require to avoid paying for more cover than you need
  4. Live a healthy lifestyle to reduce monthly premium costs

As identified, the cost of life insurance usually needs to be on the upper end of the scale to be eligible for the full amount of any free gift.

Therefore, reducing the cost of your monthly premiums may mean you aren't eligible for the free gift.

However, this will likely save you more money over the term of the policy, so it's imperative you weigh up all the options and benefits available.

Simply get in touch today to compare quotes (for free) and secure your best deal.

The most important thing is securing the RIGHT cover

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 the quotes are all similar.

However, we believe the single most important thing is securing a policy that best meets your specific needs, over the entire term.

A free gift is obviously an incentive presented by the insurer for you to take out a policy direct from them.

But, in the long-term, it's usually much more important (and cost-effective) to make sure you secure the right policy, from the best provider, at the lowest price.

At Reassured we use the information you provide to compare quotes from some of the top insurers in the market on your behalf, (at no cost).

Then we offer you the choice from the best available quotes we identified.

We're an award-winning FCA registered brokerage, here to explain any jargon and help you understand your policy and the application process.

How much cover should I take out?

With some insurers the more you spend, the more expensive your free gift.

This can tempt you into taking out more cover than you actually need to secure the highest value gift.

As discussed above, the most important thing is securing cover that meets your unique needs.

Life insurance can be used to protect:

  • Your mortgage
  • Rising funeral costs
  • Family living expenses
  • An inheritance for your loved ones

By adding up factors like these you can work out how much cover you actually require so you won’t be tempted to pay over the odds for cover you don’t need.

Alternatively, you can use our calculator below to work out your level of cover.

Free gift aside, how much life cover do you need?

Enter your financial commitments to understand the level of cover you require.

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£121,687 is the estimated average outstanding mortgage per household in the UK.

Our property is generally the largest financial commitment any of us will make.

Your life insurance should cover this significant debt should you no longer be around.

£
?

According to Money Advice Service, full-time childcare in the UK now costs £242 a week.

The loss of a parent could result in the need for additional childcare whilst the surviving parent increases their hours to account for lost income.

Your life insurance cover should factor in this additional required outgoing.

£
?

The average level of debt (minus a mortgage) in the UK is £15,385.

Factoring in any outstanding debts in your name when arranging life insurance ensures this burden is not passed to loved ones.

£
?

You may wish to leave your loved ones an inheritance or lump sum gift upon your passing.

Factoring in the gift amount when arranging your cover will ensure the pay out amount will be sufficient to provide your loved ones with this selfless gesture.

£
?

According to SunLife, the average cost of a UK funeral is now £4,417, whilst the total cost of dying is £9,493.

This is a 130% increase over the past 16 years and shows no signs of slowing down.

A significant cost which should be factored into the amount of life insurance you secure.

£
?

If you are one of the 65% of the UK who are lucky enough to have savings, this could be used as protection if you were to pass away.

Any pay outs from existing life insurance policies and investments can also be used as financial protection for your loved ones if you were no longer around.

Factor this into your required cover amount.

£ -

Your total cover estimate

£ 0

Let us find your best quotes.

Life insurance quotes with free gift

The cost of cover can vary significantly between providers, making it essential to compare quotes to secure the best deal.

Ultimately, securing the right cover to meet your needs should be the main consideration when arranging life insurance, as opposed to the free gift.

Therefore, to compare quotes and arrange the best solution for you, contact our award-winning team.

And the best part...we don't charge you a fee to use our broker service.

Sources:

Please note, if you purchase life insurance through a broker, like Reassured, generally you'll not be entitled to the gift

All gifts are accurate as of the updated date of this webpage 09/09/20 but are subject to change or withdrawal by the provider without notice

https://www.comparethemarket.com/life-insurance/content/with-free-gift/

http://www.directline.com/life-cover

https://www.churchill.com/life-insurance

https://www.moneysupermarket.com/life-insurance/with-free-gift/

https://www.beaglestreet.com/

https://www.zurich.co.uk/life-insurance/voucher-offer

https://www.vitality.co.uk/rewards/partners/

https://www.legalandgeneral.com/life-cover/

https://promislife.co.uk/

https://uk.virginmoney.com/virgin/life-insurance/

https://www.smartinsurance.co.uk/

https://www.postoffice.co.uk/life-cover

https://www.co-opinsurance.co.uk/life-insurance

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