Most over 50 plans now come with a free gift. But which…
At Reassured, we've spent time reviewing the best life insurance with free gift offers available in 2022.
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...
The top 14 life insurance with free welcome gifts currently available:
*This 'life insurance with free gift' article was updated on 02/08/22. Offers are subject to change or withdrawal by the provider without notice
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, TVs and Apple watches.
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 are offering an Amazon gift card ranging from £25 up to a maximum value of £195.
Online giants Amazon provide you with a massive range of products to choose from.
However, the value of the gift card you receive will depend on the cost of your monthly life insurance premiums and also the specific insurer you choose.
For example; if your monthly premium is £0 - £10 with Beagle Street and Legal & General you'll receive a £30 gift card, with all other brands you'll get a £25 gift card.
The maximum £195 gift card can be achieved for policies with Beagle Street and Legal & General. 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:
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.
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:
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.
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:
The current offer from Beagle Street offers great variety with a £150 gift card from a retailer of your choice or a pre-paid master card.
You’ll be able to choose from a wide range of retailers, including Amazon, Just Eat, B&Q, For Good Causes, JoJo Maman Bébé, Tesco, Curry’s PC World, Argos, M&S or John Lewis.
You’ll be eligible for the offer as a new customer to Beagle Street and after you’ve paid at least 6 months' premiums.
After your 6 monthly payments have been made, you’ll receive an email within 30 days to choose your gift card. You’ll then have 90 days from the date of the email to claim your gift card.
The value of your gift card will depend on the cost of your monthly premium.
Those with a premium of under £10 the value of your free gift with be £30. If your monthly premium is £10 - £19.99 the value of your free gift will be £60. If your premium is £20 - £29.99 a month the value of your free gift will be £100. To receive the maximum free gift value of £150 your premium must be £30 or more per month.
Key points with the Beagle Street free gift:
Royal London are offering new customers a welcome gift of either £100 cash via cheque or a £100 Amazon, Tesco or B&Q gift card.
You’ll need to take out a life insurance policy, with a premium of at least £10 a month, directly from Royal London to be eligible for the free gift.
The gift can be redeemed after you’ve made 8 premium payments.
If you cancel your policy before you’ve paid your eighth monthly premium, you’ll no longer qualify for the free gift.
If you’ve previously taken out life insurance through Royal London, you won’t be eligible for this free gift, this offer is for new customers only.
You’ll be asked to make your gift choice selection using Royal London’s online gift portal. Instructions regarding this will be sent to you by Royal London within 9 days of your 8th premium payment being made.
If you have not provided Royal London with an email address, you can make your selection via phone.
Key points with the Royal London free gift:
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:
At Vitality their marketing slogan is ‘positively different’, which sums up the approach to their free gift.
Rather than offering a gift card, Vitality offer gifts to help encourage their members to lead a healthy lifestyle.
To qualify for most free gifts through Vitality, you must download their app and log your activity to earn Vitality points.
To put this into perspective:
You can also earn points for workouts, but these must be tracked with a compatible fitness tracker with a heart-rate monitor.
Vitality currently offer a range of ‘free gifts’ or incentives, including:
Up to 2 months premiums back - 1 month’s premiums will be paid back to your bank account if you earn at least 3 Vitality points within the first 3 months of your policy.
The maximum of 2 months premiums paid back is achievable if you earn 48 Vitality points both in the second and third months.
Earn an Apple Watch - You’ll need to agree to purchase an Apple Watch Series 7 or SE on a 36 month, 0% APR customer credit agreement. You’ll also be required to pay an upfront fee for your chosen watch.
The cost will range from £27 up to £157 for an Apple Watch Series 7 or from £15 up to £95 for an Apple Watch SE (the exact cost will vary depending on the specification of your chosen watch).
By leading an active lifestyle you’ll earn Vitality points to cover the cost of your monthly payments. To pay £0 per month you must earn 160+ Vitality points per month.
The maximum amount you’ll pay each month is £9.50. This offer isn’t limited to new Vitality customers, if you’re an existing customer you can log on to your member zone to find out if you qualify for this offer.
Vitality discounts - As a Vitality member, you’ll have a range of discounts available to you. This includes up to 40% off Garmin devices and up to 50% off a Virgin Active gym membership.
You’ll also have access to discounts on many other household names such as Amazon Prime, Champney’s, Café Nero, Peloton, Fitbit and many more.
Key points with the Vitality free gift:
New customers taking out life insurance or critical illness cover via Lloyds Bank could receive a £100 supermarket voucher.
You’ll have the option to choose between Asda, Sainsbury’s or Tesco.
Life insurance through Lloyds Bank is actually provided by Scottish Widows, who aren’t currently offering a free gift of their own.
This offer is valid on Plan & Protect life insurance policies and Body Cover critical illness cover policies.
You’ll need to pay 6 months premiums to qualify for this free gift and the sum of the premiums paid must exceed £100.
Once this criteria has been met you’ll be sent a code to redeem your free gift. This will be within 30 days of your 6th premium payment.
If you don’t claim your gift or make a gift card selection, Lloyds will send Tesco gift card by default.
Key points with the Lloyds Bank life insurance free gift:
This offer was increased from a £70 gift card in July 2019.
What's a little different here is that you can apply for your policy either online or by phone and still be eligible for the gift.
As with most others, this offer isn’t available to cashback customers and you’ll receive your gift card 6 months after your start date, provided you’ve paid your premiums.
Key points with the Legal & General free gift:
Promis Life, a rising specialist life insurance provider, are currently offering a free £100 Argos, M&S or Boots gift card for new customers that take out a policy directly with them.
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:
If you take out an AIG life insurance policy through NatWest you could receive a £100 Amazon voucher.
In contrast to the other offers mentioned in the article, you won’t be eligible for this offer if you take out a policy direct from AIG.
However, like most offers, the value of the gift card you receive will be dependent on your monthly premium.
Those with a premium price of up to £11.99 will be eligible for a £50 voucher. You must be paying a premium of £12 and over to receive the full £100 voucher.
You’ll need to have made at least 6 premium payments in order to claim your gift. If you cancel your policy or stop paying your premiums you’ll no longer qualify. You also won’t qualify if you have held a policy, received a free gift and cancelled a policy before.
Once you have made 6 premium payments, you’ll be contacted by letter or email with details on how to redeem your gift card.
You’ll have 6 months from the date of the letter or email to claim your gift.
Key points with the NatWest free gift:
Smart Insurance are offering a £100 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.
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 (£100).
Key points with the Smart Insurance free gift:
Co-op are offering a welcome gift to new customers of your choice of either a £75 Love2Shop gift card or £75 B&Q gift card.
Life insurance through the Co-op is actually provided by Royal London (who are currently offering their own free gift of either £100 cash or £100 Amazon, M&S or B&Q gift card).
Life insurance through the Co-op is actually provided by Royal London (who currently aren’t offering their own free gift).
Your policy must be active and premiums must have been paid for a minimum of 4 months to be eligible to claim this gift.
You’ll be sent a ‘how to claim’ email 15 days after this 4 month period. This will include information about the offer as well as how to choose your chosen gift.
You’ll have 30 days from the date of the email to choose your gift.
You must purchase a life insurance policy directly through the Co-op to claim this offer, policies bought via comparison websites or via cashback websites won’t qualify.
This offer is only open to new customers of the Co-op. If you have previously held another life insurance policy with the Co-op, you won’t qualify for this offer.
Key points with the Co-op free gift:
If you take out life insurance with the Post Office, you'll receive a £50 gift voucher from your choice of M&S, Tesco or Amazon for the value of £50.
You’ll need to retain your Post Office life insurance policy for the 180 day qualifying period in order to be eligible to claim this gift.
There is a 180-day qualifying period in which all monthly premium payments must be made in order to claim your gift card.
If you cancel the policy or fail to make your premium payments then you’ll no longer qualify.
Once you have qualified, you’ll be sent an invitation (either by post or email depending on your preference) where you’ll be able to select your chosen gift card.
You can make you choice at any date following receipt of your invitation but no later than 365 days after the commencement date of your policy.
Key points with the Post Office free gift:
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.
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.
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:
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.
Get in touch today to compare life insurance quotes (for free).
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 life insurance provider, at the lowest price.
At Reassured we use the information you provide to compare quotes from some of the top insurers, (at no cost).
Then we offer you the choice from the best available quotes we identified.
We're an award-winning and FCA-regulated life insurance broker, here to explain any jargon and help you understand your policy and the application process.
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.
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 life insurance calculator below to work out your level of cover.
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.
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 02/08/22 but are subject to change or withdrawal by the provider without notice
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Yes very pleased with my choice very helpful easy to understand and very pleasant transaction all good!Mrs M Rushworth
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very courteous and friendly. Polite professional and empathic.Stedroy Fenton
Another happy customer I am. They are very professional and kind. Fully communicative. I recommend.Piotr Stepien
Really attentive during the call, good clear guidance throughout. Well done.Michael Reynolds
Amazing service quick fast and easy and Joey was a star on the phone really help me thanks.Sera Woolley
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I must say Jake took me through every step and was brilliant, recommend them anytime.Allan Green
Very happy and everything explained well, so glad a took the time to take the call, normally I would say I'm busy. But compared to other company's we save so much more money.Jenny Berry