12,000 Avios or 12,500 Flying Club miles (5,000 Clubcard points) with Tesco Life Insurance

It’s back – earn 5,000 Tesco Clubcard points when you take out Tesco Life Insurance!

Five years ago, Tesco Life Insurance was a licence to print Avios (or BA Miles, as they were then).  You got 4,500 Clubcard points per policy, you could take out as many policies as you wanted, and you only needed to make one £5 payment before you received the points.  Happy days indeed!

The offer today has changed considerably, although it still lets you buy Avios points at 0.5p each.  Note, though, that you no longer get all the points upfront.  You will be waiting a year to get the full lot.

This Tesco webpage is your starting point.

And here are the key things you need to know:

• The minimum premium is £5 per month, so £60 over the year
• This promotion is only available to the under-50’s – if you are over 50 you would need to apply for their separate over-50’s policy which does NOT come with any bonus Clubcard points, only a £50 Tesco gift card
• The 5,000 points are awarded in quarterly chunks of 1,250 points, with the first batch awarded after you have paid three premiums
• You must be over 18 and a UK resident
• Maximum two applications per household – so they are happy for you and your partner to both apply.  Note that the points will only be issued to a Clubcard in the same name as the policy holder, though, so you would both need your own Clubcard.
• You may be asked to go for a medical before you policy is accepted if you disclose any existing health conditions.  Even if you disclose no previous health issues, you may be randomly selected to attend a medical.
• There is quite a bit of paperwork associated with this promotion.

The application form is here and you need to use code P4L5K when applying.

(Note that the Tesco Critical Illness policy is ALSO offering 5,000 Clubcard points.  In general, I do not recommend this as you are more likely to be called in for a medical, given the nature of the product.)

Enter £5 per month as the amount you want to pay, and select a short period of, say, 5 years for the policy.  You can still cancel at any time.  However, the price is locked in for the period you select.

All in all, it is not a bad deal, although far from the bonanza it was in the past.  Even at the basic Clubcard to Avios conversion rate, you will receive (5,000 x 2.4 =) 12,000 Avios for your £60 of premiums.  0.5p per Avios is pretty good deal.  The downside is the paperwork you need to complete, of course.

The closing date for applications under this offer is 29th October.

There are some other Tesco Insurance deals which I will cover tomorrow.

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How to earn Avios from UK credit cards (April 2024)

As a reminder, there are various ways of earning Avios points from UK credit cards.  Many cards also have generous sign-up bonuses!

In February 2022, Barclaycard launched two exciting new Barclaycard Avios Mastercard cards with a bonus of up to 25,000 Avios. You can apply here.

You qualify for the bonus on these cards even if you have a British Airways American Express card:

There are two official British Airways American Express cards with attractive sign-up bonuses:

You can also get generous sign-up bonuses by applying for American Express cards which earn Membership Rewards points. These points convert at 1:1 into Avios.

Run your own business?

We recommend Capital on Tap for limited companies. You earn 1 Avios per £1 which is impressive for a Visa card, along with a sign-up bonus worth 10,500 Avios.

SPECIAL OFFER: Until 12th May 2024, the Capital on Tap Business Rewards Visa card is offering a bonus of 30,000 points, convertible into 30,000 Avios. You must have a Limited Company to apply. Click here to learn more and click here to apply.

You should also consider the British Airways Accelerating Business credit card. This is open to sole traders as well as limited companies and has a 30,000 Avios sign-up bonus.

There are also generous bonuses on the two American Express Business cards, with the points converting at 1:1 into Avios. These cards are open to sole traders as well as limited companies.

Click here to read our detailed summary of all UK credit cards which earn Avios. This includes both personal and small business cards.