Life Insurance with Free Gift » 2020 Guide

The best free gifts with life insurance (updated January 2020)

At Reassured, we’ve spent time reviewing the best life insurance with free gifts.

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

Which UK insurer is currently offering the best welcome gift?
Are you entitled to the free gift and when can you claim the prize?
Can you really get life insurance with a free iPad?
What’s hidden in the insurers ‘small print‘?

Insurers use a free gift as an incentive for you to buy life insurance directly through them, either online or over the phone.

But, is the free gift worth it, or can you secure a better deal through a broker?

Speaking of which, if you take out cover through Reassured and then refer a friend, you can receive a £30 Love2Shop gift voucher.

Read on to learn all about the best life insurance offers currently available…

Life insurance with free gift offers 2020:

Compare the Market – £200 Amazon gift card
Direct Line – £180 Amazon, M&S or Love2Shop gift card
Churchill – £180 Amazon, M&S or Tesco gift card
MoneySupermarket – £100 Amazon gift card
Beagle Street – £100 Amazon gift card
Zurich – £100 Love2Shop gift vouchers
Legal & General – £100 Amazon or M&S gift card
Sainsbury’s Life Insurance – £90 Nectar points + double points
Post Office – £50 M&S, Argos or Amazon gift card
Co-op Insurance Service – £50 Co-op food vouchers
Virgin Money – £75 Cashback.

*Please note: this ‘life insurance with free gift‘ post was last updated on 09/01/20.

If you’re in your senior years you may want to read our over 50 life insurance with free gift article.

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Compare the Market – £200 Amazon gift card

Compare the Market are offering an Amazon gift card up to the value £200.

Again, what you receive will depend on the cost of your monthly premiums, but also on the specific insurer.

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 £25 in vouchers.

The maximum £200 gift card can be achieved for policies with Legal & General and 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 after your 3^rd payment.

Key points with Compare the Market free gift:

You have to pay 3 months premiums before you can claim your gift
Offer only available online
1 gift card per policy
The value of the gift you receive depends on the insurer
You’ll be offered your free gift 45 days after paying your 3rd premium
Offer runs from 01/01/2020 to 31/01/2020.

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

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

Vouchers will be issued after you’ve paid your premiums for 6 months and the value of the voucher is calculated by how much you pay each 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 by 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 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 22/07/2019, but no expiry date stated.

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, as with most other insurers, 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.

As with Direct Line, Churchill life insurance is provided through Legal & General.

Therefore, if you’ve previously cancelled a Legal & General policy, you’ll not qualify for the gift.

Key points with 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 a Legal & General policy, you’ll not qualify
Offer runs from 22/07/2019, but no expiry date stated.

MoneySupermarket – £100 Amazon gift card

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

You’re eligible for 1 Amazon gift card per policy and you have to take out life insurance online to claim the 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 6^th 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 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’re limited to 1 gift card per policy
You have to apply online to be eligible
You’ll be offered your preferred gift 40 days after paying your 6th premium
You must have taken out the policy after 00:01 on 20/12/2019, no expiry date stated.

Beagle Street – £100 Amazon gift card

The current offer from Beagle Street is a £100 Amazon gift card.

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

Your premium must also be over £14 a month, which for many of us is a realistic cost.

Once your policy has been live for 6 months, you’ll receive an email within 30 days from this date to claim the gift.

A link to claim the offer will be sent via your preferred method of delivery, (either via email or text message).

You have 90 days from the date of the email/text message to make your claim.

Key points with Beagle Street free gift:

You’ll receive your vouchers after paying your premiums for 6 months
The offer can only be used once per person, per policy
You are only able to claim one £100 gift card on a joint policy
The offer is only available to policies taken out directly with Beagle Street
You must have taken out the policy on or after 01/10/2019 (online or by phone).

Zurich – £100 Love2Shop gift vouchers

Zurich have an offer of up to £100 worth of Love2Shop gift vouchers in 2020.

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 6^th consecutive monthly premium.

The value of the voucher received is calculated by the combined value of your 1^st 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 £17.50+ per month in order to get the full £100 worth of gift vouchers.

Key points with Zurich free gift:

You have to pay 6 months premiums before you can claim your gift
You’re only eligible for the vouchers if you apply online or by calling telephone number 0800 008 3020 or 0800 008 3021
You must use promo code ZOFFERS online
You’re not eligible if you’ve taken out life insurance with any comparison or cashback websites
The offer applies to policies taken out up to and including 31/01/2019 and policies must start before 01/10/2019.

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Vitality – Apple Watch (Series 3 and 4)

Vitality is a little different and offers an Apple Watch to customers.

This is summed up by Vitality’s current marketing slogan; ‘positively different’.

Unfortunately, it isn’t that easy to claim Vitality’s enticing free gift…

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

What’s more, your monthly premium would have to be £60 or more, which is more cover than the majority of us require.

You would also need to agree to a consumer credit agreement (0% APR) and set up a direct debit for 24 months.

Maximum payment is £10 a month, however, this can decrease to £0 if you take part in the Vitality programme and engage in regular physical activity.

The idea is that you use the Apple Watch to track your daily activity and gain Vitality activity points (meaning more savings). Although it is worth checking how easily you can achieve Vitality points even if you take part in physical activity.

Key points with Vitality free gift:

Save up to £240 on the Apple Watch Series 4
Choice of models & colours available
Your premium must be £60 or more
Upfront payment required (from £69)
No expiry date stated.

Legal & General – £100 Amazon gift card or M&S e-gift card

Legal & General are offering an £100 Amazon or M&S gift card when you take out either life insurance or decreasing life insurance with or without critical illness cover.

This was increased from a £70 gift card in July 2019.

Although, ironically, this is still less than both the Direct Line and Churchill offers, who Legal & General also provide life insurance for.

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 welcome gift.

As with most others, this offer is not available to cashback customers and you’ll receive your gift card 6 months after your start date, provided you have paid your premiums.

Key points with Legal & General free gift:

You have to pay 6 months premiums before you can claim your gift
Only 1 person per policy are eligible
Cashback customers are excluded from this offer
You have 12 months from your policy start date to claim your gift
You must take out your policy on or before 30/04/2020.

Sainsbury’s Life Insurance – £90 Nectar points + double points

When you take out life insurance with Sainsbury’s (again provided by Legal & General), you can benefit from a one-off bonus of up to £90 worth of Nectar points plus double Nectar points for the rest of your policy.

You’ll start earning double Nectar points from your policy start date, (as long as you’ve provided your Nectar card number).

Plus you’ll get a one-off bonus of up to £90 Nectar points, although the number of points you earn will depend on your policy type and the cost of your premium.

With their level and decreasing term life insurance, if your premium is lower than £8.50 you’ll only receive 10,000 Nectar points, which is worth £50. If your premium is over £20 you can get 18,000 Nectar points, worth £90.

Lastly, you’ll need to have paid 5 months’ worth of premiums before being entitled to this free offer.

Key points with Sainsbury’s free gift:

Double points begin from your policy start date
Sainsbury’s will add your Nectar points after 60 days of receiving your 5th months premium
You’re limited to 2 gifts per household within a 12 month period
You need to inform Sainsbury’s of your Nectar card number on the application
No expiry date stated.

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

The Post Office is now offering £50 of either M&S, Argos or Amazon gift card, although they were offering a £50 One4all gift card.

You could use the One4all gift card at many high street shops, including John Lewis, H+M, Boots, Halfords, Mothercare, Topshop and so on.

To qualify for the £50 M&S, Argos or Amazon voucher you need to buy a Post Office Money Life Insurance Policy.

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.

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

Key points with Post Office free gift:

You have to pay 6 months premiums before you can claim your gift
There is 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.

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 inclusion in our top 11.

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

A nice perk with Co-op is that you only have to wait 4 months (and not 6) before being able to claim your gift.

Key points with Co-op free gift:

You can apply online or by phone
You’re limited to 1 free gift per policy
You’ll receive your gift after paying 4 months of premiums
The vouchers can’t be used on Co-op brands bought in non-Co-op branded stores, like Costcutter and NISA
Available to all new customers between 22/01/2019 – 30/03/2020.

Virgin Money – £75 Cashback

Virgin Money currently offers £75 cashback when taking out life insurance with them.

The offer requires you to pay 6 months’ worth of premiums before the cashback is awarded.

However, unlike most other deals, there’s no minimum premium required in order to be eligible. So, regardless of how much you pay per month, you can claim cashback.

The payment of £75 will be made within 90 days of the 6th premium and will be deposited directly into the account from which premiums are paid.

In the instance of a joint policy, only the lead individual will receive cashback.

As well as the free gift, Virgin Money also offers a free will writing service and a free trust tool.

Key points with Virgin Money free gift:

You have to pay 6 months premiums before you can claim cashback
Cashback will be made within 90 days of sixth premium payment
Payment will be made directly into the bank account of which premiums are paid
Only one payment will be made on a joint account
No expiry date stated.

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

We offer £30 Love2Shop gift vouchers when you refer a friend and that friend subsequently takes out a 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.

Key points with Reassured free gift:

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

The most important thing is securing the RIGHT cover

So there we have it, the best life insurance with free gifts as we see it.

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 a motivation for you to take out a policy.

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 search the life insurance 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, the terms and the application process.

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

Sources:

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

https://www.comparethemarket.com/life-insurance/content/giftcard/

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

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

https://www.moneysupermarket.com/life-insurance/terms-and-conditions/

https://www.vitality.co.uk/life-insurance/campaigns/apple-watch/

https://www.legalandgeneral.com/life-cover/life-insurance/marks-and-spencers/

https://www.sainsburysbank.co.uk/life-insurance/index

https://www.postoffice.co.uk/life-cover/life-insurance/terms-and-conditions-gift-card-50