7,200 Avios for £30 with Tesco Life Insurance

Love Clubcard, don’t collect Avios?  You should be reading our sister site, Shopper Points (www.shopperpoints.co.uk), which covers the latest Clubcard and Nectar offers without any distracting frequent flyer talk!  Why not check it out now?

There is an offer running at the moment with Tesco Life Insurance whereby you receive 3,000 Tesco Clubcard points for taking out a new policy before 15th August.  This is worth 7,200 Avios or 7,500 Virgin Flying Club miles.

If you are taking part in the ‘bonus Avios for collecting with new partners’ promo, this could be even more valuable as you could convert your vouchers into numerous different BA or avios.com accounts and get 2,000 bonus Avios on each as long as the accounts are all active (ie have collected 1 mile in the past) and have not collected from Tesco in the year to November 2011.

Tesco Life Insurance

The cheapest life insurance policy you can get (if you are under, I think, 55) will be £5 per month.  When you get a quote, put in a low level of cover and a low contract term (say, £30,000 and 2 years) and you should get a £5 premium.  The T&C’s say you must keep up your policy for 6 months or else risk forfeiting the bonus, so you will be spending £50 for the 7,200 Avios.

This is not a bad deal, and could be even better if you keep the vouchers in a drawer and wait for a potential Tesco to Avios conversion bonus.  You can cancel easily by cancelling your direct debit with your bank – you will receive a couple of letters from Friends Provident warning you that your cover will lapse, but you can ignore these.

Last time this promo ran (last Autumn, which is when I did it), you only had to keep the insurance for 3 months, not 6, which was a real no-brainer.  This is not as good, but may be worthwhile for some.  Do not apply if you are in bad health, though, as you are likely to be asked to attend a medical before cover will be granted.

Love Clubcard, don’t collect Avios?  You should be reading our sister site, Shopper Points (www.shopperpoints.co.uk), which covers the latest Clubcard and Nectar offers without any distracting frequent flyer talk!  Why not check it out now?

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