Best over 50 life insurance with free gifts 2021

After recently researching the best life insurance with free gift offers, we thought why not do the same for over 50 plans.

We've examined all of the over 50 life insurance with free gifts currently available in the UK.

Below is what we found from our extensive in-house research...

Over 50 life insurance with free gifts

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?
  • Does the value of your free gift depend on the cost of your life insurance 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 importantly what's in the small print)...

SunLife - £115 Love2Shop gift card

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

They're currently offering a generous £115 Love2Shop gift card for all new customers.

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 £110 Love2Shop gift card but this was increased even further in January 2021, to £115.

The "Biggest ever gift offer for new customers".

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 £115 free gift:

  • The gift will be sent after 6 months premiums paid
  • You're entitled to the £115 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

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

Post Office - £100 M&S, Argos or Amazon gift card

Post Office are offering a £100 gift card for either M&S, Argos or Amazon when you take out their over 50s life insurance.

Unlike other gift offers, the voucher amount isn’t determined by how much your premium is, it will be £100 no matter what your premium is.

Post Office over 50 life insurance with free gift

You’ll need to have paid your monthly premiums for the 180 day qualifying period in order to qualify for the gift card. Failure to make payments will result in your policy becoming invalid.

You’ll need to inform Post Office of your gift card choice. You’ll be invited to do so following the purchase of your policy. You won’t receive your gift card until you have made your choice.

If you have kept up to date with your premium payments, the gift card will be sent to you within 28 days after the 180 qualifying period has ended.

Key points with the Post Office £100 free gift:

  • Open to UK residents aged 50 - 80
  • Only one gift card per policy
  • You must pay your premiums for at least the 180 qualifying period in order to be eligible
  • Valid on policies purchased between 31/05/2021 - 27/06/2021
  • Policies can be taken out online, by phone or in branch

Website: www.postoffice.co.uk/life-cover/over-50s-life-insurance

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 £100 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
  • No expiry date stated

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

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 £100 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 - £100 M&S gift card

British Seniors are offering a £100 M&S 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 with free gift

The value of the gift card will be £100 unless you take out a joint policy, in this case, the gift card amount will be £200.

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 British Seniors £100 free gift:

  • 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 £50 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 - Apple Watch Series 6 or SE

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 life insurance with free gift

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

While Vitality don’t offer a specific over 50s plan, you’ll be able to take out one of the term or whole of life policies.

This means you’ll be eligible to sign up for their Apple Watch gift offer.

This is the chance to take out an Apple Watch Series 6 or SE on a 36 month, 0% APR, customer agreement.

You’ll need to pay an upfront fee ranging from £17 - £136 (depending on your chosen watch) but the rest of the payments can be taken care of by leading an active lifestyle and earning vitality points.

The number of points you earn will determine how much you pay back for the watch each month. The more points, the less you pay:

  • 160+ Vitality points: Vitality will pay £9.50, you’ll pay £0
  • 120 to 159 Vitality points: Vitality will pay £7.50, you’ll pay £2
  • 80 to 119 Vitality points: Vitality will pay £5, you’ll pay £4.50
  • 40-79 Vitality points: Vitality will pay £2.50, you’ll pay £7
  • 0-39 Vitality points: Vitality will pay 0, you’ll pay £9.50

You can earn a maximum of 8 points a day and 40 points a month - meaning you’ll need to receive 40 points each week to receive the maximum 160 points for this offer.

Alternatively, Vitality offer a wide range of discounts and rewards with their partners. These include Champneys, Garmin, Waitrose, ODEON Virgin Active and many more.

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 £4.75 per month.

Key points with the Vitality free gift:

  • Your premium must be £45 or more
  • You must pay agree to a 36-month customer credit agreement
  • You can only earn 40 points a month and will need to earn the maximum amount of points to completely cover the cost of the watch
  • If you don’t earn enough points each month, a payment will be taken by direct debit to pay for the watch
  • You need to subscribe to the Vitality or Wellness Optimiser to benefit from rewards
  • 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 £35 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:

  • The number of £30 Love2Shop gift voucher claims is unlimited
  • Eligible once referred friend has taken out a policy and made 3 premium payments
  • You'll receive your voucher within 3-5 working days
  • 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 2021.

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 compare over 50s quotes from some of the UK’s leading providers 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-regulated life insurance 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 date the article was updated 04/03/21 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.postoffice.co.uk/life-cover/over-50s-life-insurance

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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