If you are looking for a life insurance policy and are not sure which insurance company to go with, you may want to consider what free gifts each one is offering along with their policies.
From free laptops and tablets to gift vouchers and cashback, lots of life insurance companies are going all out to tempt you to buying your policy from them.
If you’re in the market for life insurance and think a free gift might just tip the balance, then check out our updated* list of the top life insurance with free gift offers below.
*last updated: February 2019
For more information on your policy options, visit our Life Insurance page.
Best life insurance with free gift deals 2019
Compare The Market – Amazon gift card up to £135
Compare life insurance policies and then buy your policy through Compare The Market, and you will be eligible for an Amazon voucher of up to £135.
The vouchers you are given are dependent on the type of life insurance policy and how much the monthly payments are. But all you need to do to check is get a free quote online.
Claim free gift: https://www.comparethemarket.com/life-insurance/
Quidco – up to £595 cashback
Rather than a gift card or voucher, how about receiving cold hard cash back in your pocket when you take out a life insurance policy?
Sign up with Quidco and buy your policy through their site (current life insurance providers on there include Beagle Street, Royal London and Aviva) and you could earn as much as £595 cashback.
If you are new to Quidco then you will also get a £10 cashback bonus when you make your first purchase.
Claim cashback: https://www.quidco.com
Shepherds Friendly over 50’s life insurance – £50 Love2Shop voucher
If you are looking specifically for an over 50’s life insurance policy, then specialist Savings and Insurance company Shepherds Family are offering a £50 Love2Shop voucher.
Love2Shop can be used in hundreds of well-known stores such as M&S, Mothercare, HMV and River Island.
Post Office life insurance – £50 OneForall gift card
A life insurance policy from the Post Office comes with a £50 OneForall gift card.
OneForall gift cards can be used in shops such as Halfords, Argos, B&Q, Debenhams, WHSmith, Boots and House of Fraser.
Life insurance policies from the Post Office are underwritten by The Royal London Mutual Insurance Society Limited.
Claim free gift: https://www.postoffice.co.uk/life-cover/life-insurance
Buy your life insurance policy through Zurich and you could get up to £420 worth of vouchers.
The total amount of your vouchers is the combined value of your first six months premiums, with a maximum value of £420. This basically means you get your first six months of life insurance premiums back as vouchers from your choice of Amazon, John Lewis & Partners and Love2shop.
Claim free gift: www.zurich.co.uk/life-insurance
Legal and General offer a gift card worth £75 when you buy a life insurance policy through them.
You can choose a voucher to spend at Amazon or Marks & Spencer, and premiums can start for as little as £6 per month (depending on your circumstances).
Claim free gift: www.legalandgeneral.com/life-cover/
Direct Line offer a free voucher to use at Amazon, B&Q or M&S with a maximum value of £180.
The value of the gift card varies depending on how much your monthly premiums are. If you pay between £6.00 and £10.00 per month then you will be eligible for a £35 voucher.
If you pay over £30 per month you’ll get a voucher worth £180.
Claim free gift: www.directline.com/life-cover
You can also get a £100 gift card if you buy life insurance through MoneySuperMarket.
You’ll get the voucher after the first six months of premiums, and you can choose between Argos, Next and M&S.
Claim free gift: www.moneysupermarket.com/life-insurance/with-free-gift/
Churchill are another insurance company offering a voucher as a free gift when you buy a life insurance policy, with a maximum value of £120 depending on your monthly premiums.
You can choose between a gift card for Argos, M&S or Amazon, which is limited to two per household and is available after four months of taking out the policy.
Claim free gift: www.churchill.com/life-insurance
Sun Life offer a free gift of a £100 voucher for either Argos or M&S if you buy their specialist Over 50s life insurance policy.
If you are over 50 and looking for life insurance with a free gift this is likely to be a good option as it will offer the most suitable cover.
Claim free gift: www.sunlife.co.uk/life-cover/over-50-life-insurance/welcome-gift/
If you buy life insurance from Debenhams you will get a free £50 gift card to spend in… Debenhams.
The policy comes with several benefits such as: Instant cover with no up-front fees, access to UK call centre and cover for 17 – 79-year-olds.
Claim free gift: finance.debenhams.com/insurance/life-insurance/
Aviva give out a £50 voucher for those who buy their over 50s life insurance policy, which can only be used at Marks & Spencer.
The free gift is only available if you buy the policy direct, rather than through a price comparison or cash back website.
Claim free gift: www.aviva.co.uk/life/over-50-life-insurance/grandparent/offer/
Co-op Insurance – £50 food vouchers
Get a life insurance policy with the Co-op, and you will get £50 worth of Co-op food vouchers.
This offer is open to new customers who buy life insurance directly through the Co-op, and the offer ends on 31 December 2019.
Claim free gift: https://www.co-opinsurance.co.uk/life-insurance
LV life insurance – £75 gift card
LV= (formerly Liverpool Victoria) will give you a £75 voucher to spend at John Lewis & Partners when you take out one of their life insurance policies.
The voucher will be sent to you after you have paid the 12th monthly premium, and is only available if you apply and buy your policy online.
Claim free gift: https://www.lv.com/life-insurance
Sainsbury’s Bank – £70 worth of Nectar points/double Nectar points
If you are a Nectar cardholder, this offer may actually work out the best value for you.
As well as giving you up to £70 worth of Nectar points (depending on your monthly premiums), Sainsbury’s will double all the points you rack up on your Nectar card for the duration of your life insurance policy.
If you shop at Sainsbury’s a lot, those double points could add up a lot.
Claim free gift: https://www.sainsburysbank.co.uk/life-insurance/index
Provident Insurance – £50 Halfords voucher
Get a £50 gift card to use at Halfords when you take out a life insurance policy with Provident Insurance.
To qualify for the voucher your monthly life insurance premiums have to be at least £10.00, and you will receive the gift card after you have made three months of premium payments.
Claim free gift: https://www.providentinsurance.co.uk/life-insurance/
Virgin Money life insurance – get a quote to enter prize draw
If you are currently comparing life insurance policies, then you may as well get an online quote with Virgin Money.
Everyone who gets a quote will be entered into a prize draw to win a free family holiday to Florida – with no obligation to buy a policy.
As you are already filling out a lot of quotes out online, you may as well give Virgin a chance and enter the prize draw.
Get a quote: https://uk.virginmoney.com/virgin/life-insurance/
Life insurance with free gift – things to bear in mind
You might get excited when you see that a free gift is on offer for buying life insurance, but you should not base your purchase decision solely on the free gift.
First of all, consider not only what the free gift is worth – but what it’s worth to you.
Perhaps the free gift is something you actually need and is quite expensive, for example you are thinking of buying a new laptop and the fact one comes with a life insurance policy is just a bonus that you can take advantage of. In that case buying life insurance with a free gift can be a great way to save yourself some money.
However, if you don’t actually need the free gift or if it is fairly inexpensive then you shouldn’t let it influence your decision too much.
Can you get the same life insurance cover for cheaper elsewhere?
As with any form of insurance, the best way to get cheap life insurance is to shop around and compare quotes from a range of insurers.
By doing this you may find a cheaper policy that offers the same level of life cover, which saves you more money than what the free gift offers.
Don’t let an attractive free gift blind you to the actual lifetime cost of the policy, and make sure you shop around before committing to life insurance.
Is the policy right for you?
Many people are so concerned with the price of life insurance that they forget perhaps the most important aspect: whether the policy offers the right level of cover for you and your family.
Regardless of the free gift, if you buy a policy that is not suited to your own individual needs and requirements then you can end up paying a lot more over the years for cover you don’t even need.
Learn more about life insurance…
- Life insurance for over 50’s – What you need to know
- Life Insurance vs Pension – which is best for you?
- What are the key differences between Term Life Insurance and Whole Of Life Insurance?
- What’s the difference between income protection and life insurance?
- Life insurance with endowment savings plan