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 - £100 Love2Shop gift card

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

In part due to the Michael Parkinson and Alan Titchmarsh TV adverts.

Sun Life £100 Love2Shop gift card

They're currently offering new customers a £100 Love2Shop gift card.

Love2Shop gift cards are accepted at over 150 UK brands, including Argos, M&S, Currys, Mothercare and Boots.

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

You'll not receive the gift card until you're 6 months into the policy.

Key points with the SunLife offer:

  • The gift will be sent after 6 months premiums paid
  • You're entitled to the £100 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
  • Expiry date not stated

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 £180 Amazon, M&S or Love2 Shop gift card

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 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 policy
  • No cash alternative offered

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

Royal London - £100 Argos, M&S gift card or £100 cash via cheque

Royal London are currently offering a £100 Argos or M&S gift card or £100 cash via cheque for new customers taking out an over 50s plan.

Your premium must cost £7+ a month and you have to have paid 8 months of premiums before being eligible.

Royal London £100 Argos gift card

You need to provide your email so that after your 6th payment they can send you instructions for how to redeem your gift card online.

You'll not be eligible if you've previously taken out or cancelled a policy with Royal London in the past 12 months.

You’ll typically receive your gift card 4 to 5 weeks after you’ve made your 6th monthly payment (and redeemed online).

If you don't make your gift choice selection and/or redeem your e-gift code within 90 days, you'll no longer be able to claim a gift.

Key points with the £100 Royal London offer:

  • You'll have to pay 8 months premiums before being eligible
  • Limited to 1 per policy and 2 per household
  • If you don't redeem your gift within 90 days you're no longer eligible
  • No cash alternative offered
  • For policies taken out before 28/02/20

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 £180 Amazon, M&S or Tesco gift card

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 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 £75 Amazon gift card

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 £50 Love2Shop gift card

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 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 offer

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 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 Society £35 M&S gift card

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 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 refer a friend offer

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.

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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