Best over 50 life insurance with free gifts 2020

In this in-depth article we research

  • Which over 50s life insurance provider is offering the best gift?
  • Can you receive a free iPad with an over 50s plan?
  • Is everyone entitled to the free welcome gift?
  • When are you eligible to claim your free gift?
  • Is the value of your free gift dependant on the cost of your premium?
  • Do you have to buy directly from the insurer to get the gift?


Read on to establish the best over 50s plan free gifts available (and what's in the small print)...

SunLife - £110 Love2Shop gift card

SunLife's Guaranteed Over 50 Plan is the most recognisable policy in the senior life insurance market.

They're currently offering all new customers a generous £110 Love2Shop gift card.

SunLife £110 Love2Shop gift card

Love2Shop gift cards are accepted at over 150 UK brands, including Argos, M&S, Curry’s and Boots.

Previously, SunLife had offered a £85 Love2Shop gift card and this was increased to £100 in August 2019 and again more recently.

As a result, this is now the most generous free gift on offer in the over 50 plans market, hence it’s our number #1.

You’ll also be entered into SunLife’s annual £50,000 big cash draw.

Key points with the SunLife £110 free gift:

  • The gift will be sent after 6 months premiums paid
  • You're entitled to the £110 gift card if you apply either online or by phone
  • May not be able to receive the welcome gift if you have previously held and cancelled a SunLife policy
  • No cash alternative offered
  • For policies taken out on or before 31/03/20

Website: www.sunlife.co.uk/life-cover/over-50-life-insurance/welcome-gift/

Direct Line - Up to £100 gift card or e-gift card for Amazon, M&S or Love2Shop

Direct Line are currently offering a £100 gift card from either Amazon, M&S or Love2Shop.

Unlike their term-based life insurance offer, the value of the gift card isn't influenced by the cost of your premium.

Direct Line over 50 life insurance with free gift

The gift card will be issued after you've paid your premiums for 6 months.

You'll be sent communications 30 days or more from the start of the policy on how to redeem your gift.

You'll receive a further 'choice message' from which point you'll have 6 months to redeem your gift. After this period you'll no longer be eligible.

Key points with the Direct Line free gift:

  • You have to pay 6 months premiums before you can claim your gift
  • Cashback customers are excluded
  • You're limited to 1 gift card per household
  • If you’ve previously received a gift card or cancelled a policy you won’t qualify for this gift
  • No cash alternative offered
  • Available to customers who have taken out a policy after 22nd July 2019

Website: www.directline.com/life-cover/over-50s

Royal London - £100 Argos gift card, £100 cash via cheque or a RCA By Venturer Gemini 10L Pro Tablet

As well as the opportunity to receive either a £100 Argos gift card or £100 cash via cheque, Royal London are also offering an RCA By Venturer Gemini 10L Pro Tablet worth £130 when you take out their over 50s plan.

Royal London over 50 life insurance with free gift

This offer only applies to new over 50s policies taken out between 1st
September - 30th October 2020 with a minimum monthly premium of £7.

You must make 8 monthly payments before you’re eligible to claim your chosen gift.

You can make your gift choice at the point of application, via the online gift portal or via telephone (if choosing by phone you must let Royal London know your choice before you make your 8th payment).

If you cancel your policy before making your 8th premium payment, you’ll no longer qualify for the gift.

You'll not be eligible if you've previously cancelled a Royal London over 50s life insurance policy.

Key points with the £100 Royal London offer:

  • You'll have to pay 8 months premiums before being eligible
  • Limited to 1 gift per policy and 2 per household
  • Policy must be taken out directly through Royal London
  • If you don't redeem your gift within 90 days you're no longer eligible
  • No cash alternative offered
  • For policies taken out between 01/09/2020 - 30/10/20

Website: www.royallondon.com/life-insurance/over-50-life-insurance/

Churchill - £100 Amazon, M&S or Tesco e-gift card

Churchill are offering a £100 e-gift card with either Amazon, M&S or Tesco when you take out their over 50s plan.

As with most insurers, this gift card is issued after you've paid your premiums for 6 consecutive months.

Churchill over 50 life insurance with free gift

Unlike their term life insurance offer, the value of the gift card is not dependant on the cost of your monthly premium.

Churchill over 50s life insurance is provided through AIG, (having previously worked with Legal & General).

Therefore, if you've previously cancelled an AIG policy, you won't qualify for this 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 over 50s life insurance
  • 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

Claim it here: www.churchill.com/life-insurance/over-50s

British Seniors - £75 Amazon gift card

British Seniors are offering a £75 Amazon gift card with their over 50s life insurance.

You’ll qualify for the gift card after you’ve paid 6 monthly premiums and once the total of your premiums paid exceeds the value of the gift card.

British Seniors over 50 life insurance with free gift

The value of the gift card will be £75 unless you take out a joint policy, in this case, the gift card amount will be £150.

This offer is only valid for new customers of British Seniors and won’t be available if you purchase a policy using any other offer.

Key points with the £75 British Seniors offer:

  • You’ll need to pay 6 monthly premiums to qualify for the offer
  • One gift card per policy
  • Only available to new customers
  • No expiry date stated

Website: https://www.britishseniors.co.uk/over-50-life-insurance/

Shepherds Friendly - £50 Love2Shop gift card

Shepherds Friendly are currently offering a £50 Love2Shop gift card when you take out their over 50 plan.

The value of your gift card you receive is not tiered; you'll receive the full £50 gift card regardless of the cost of your premiums.

Shepherds Friendly over 50 life insurance with free gift

As with the majority of gift cards we identified, you'll only qualify for the gift after paying your 6th monthly premium.

The Love2Shop gift cards will be sent to you in an email after confirming your 6th payment.

As mentioned above, Love2Shop gift cards are accepted at over 150 retailers, including Argos, M&S and Boots.

Key points with the Shepherds Friendly free gift:

  • You have to pay 6 months premiums before being eligible
  • A voucher code is sent to you via email
  • You'll only receive a voucher code if you provide a valid email
  • This offer is only available to new customers
  • Limited to 1 gift per policy
  • Cashback customers are excluded from this offer
  • No cash alternative offered
  • No expiry date stated

Website: www.shepherdsfriendly.co.uk/plans/insurance/over-50-life-insurance

Vitality - 40% discount on gym membership & more

Vitality offers a very different proposition to other insurers in the UK.

Their commendable marketing approach is to incentivise you to make positive lifestyle changes, to improve your health.

Vitality over 50 life insurance with free gift

Therefore, if you want to live a healthier lifestyle, this could be a good option.

It's possible through Vitality over 50s life cover to get 40% off a gym membership at Virgin Active.

You can also receive a discount on Polar and Garmin devices, enabling you to track your activity.

Lastly, you can earn weekly rewards from the like of Starbucks Coffee, Cineworld or Vue.

However, to enjoy these benefits you'll need to pay at least £30 a month on your premium, as well as subscribe to their Vitality or Wellness Optimiser.

The Optimisers will cost you an additional £4.50 per month.

Key points with the Vitality free gift:

  • Your premium must be £30 or more
  • You need to subscribe to the Vitality or Wellness Optimiser
  • Gym joining fees will still be applicable
  • Join your local (participating) gym straight away
  • Earn Vitality Points attending the gym
  • No cash alternative offered
  • No expiry date stated

Claim it here: www.vitality.co.uk/life-insurance/over-50s/

Foresters Friendly Society - £35 M&S gift card

Foresters Friendly Society are offering a £35 gift card when you take out their over 50s life cover.

To qualify you must apply for a policy online and once you have paid 3 months premiums, you’ll be eligible to claim your gift card.

Foresters Friendly over 50 life insurance with free gift

In the case of a joint policy, the first-named policyholder will receive the gift card.

If you cancel your policy within 30 days of taking the policy out, you won’t receive the gift card.

If you cancel within 12 months of the start date of the policy, the value of the gift card may be deducted from the refund of premiums.

Key points with the Foresters Friendly Society's free gift:

  • Only need to pay 3 months premiums to receive the gift card
  • You must be a new customer to Foresters Friendly Society
  • This offer may not be used with any other offer and isn’t available to cashback customers
  • No expiry date stated

Claim it here: https://www.forestersfriendlysociety.co.uk/protect-your-future/over-50-life-cover/

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

When you refer a friend to our brokerage services, we'll reward you with a £30 Love2Shop gift voucher.

It'll require the person you've referred to take out a policy with us and make 3 premium payments before you're eligible.

Reassured over 50 life insurance with free gift

Once this has been confirmed, you'll receive a claim form which will need to be returned to redeem your voucher.

You'll then receive your voucher within 3-5 working days.

This offer is unlimited, meaning you can recommend as many friends as you like and redeem £30 for each one.

Key points with Reassured free gift:

  • Number of claims is unlimited
  • Eligible once referred friend has taken out a policy and made 3 premium payments
  • No expiry date

Secure the right over 50s plan, (not just the best free gift)

So there you have it, the best over 50 life insurance with free gift offers 2020.

It's possible that a free welcome gift is enough of an incentive for you to take out a particular plan.

However, generally, the most important thing is securing the over 50s plan that best meets your unique needs and budget.

In the long run, financially it’s usually much more important to make sure you secure the right policy, at the best price.

Reassured use the information you provide to search the life insurance market on your behalf, at no cost.

Then we present back to you the best available quotes we identified.

We’re an award-winning and FCA registered brokerage, here to help you save both time and money.

Simply get in touch today to arrange your perfect cover, at the very best price.

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 published date of this webpage 23/08/20 but are subject to change by the provider without notice.

https://www.legalandgeneral.com/life-cover/over-50s/marks-and-spencer/

https://www.sunlife.co.uk/life-cover/over-50-life-insurance/welcome-gift/

https://www.royallondon.com/promotions/terms-Nov08/

https://www.directline.com/life-cover/over-50s

https://www.churchill.com/life-insurance/over-50s

https://www.britishseniors.co.uk/over-50-life-insurance/

https://www.shepherdsfriendly.co.uk/l2s-terms-and-conditions

https://www.vitality.co.uk/life-insurance/over-50s/

https://www.forestersfriendlysociety.co.uk/protect-your-future/over-50-life-cover/

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