12,000 Avios for £60 via Tesco Life Insurance – closing soon

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?

I first covered this offer back in August when it launched.  It was scheduled to run for over three months and it has probably slipped the minds of many readers, so I thought it was worth another push before it closes on 1st December.

You can earn 5,000 Tesco Clubcard points when you take out Tesco Life Insurance!  This will get you 12,000 Avios points or 12,500 Virgin Flying Club miles.

Six 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 eachNote, though, that you no longer get all the points upfront. You will be waiting a year to get the full lot.

You are also now banned from taking out this deal if you have cancelled a Tesco Life Insurance policy in the last 12 months. Although that doesn’t stop your partner signing up! You could also sign up for Tesco Critical Illness or Tesco Mortgage Protection cover if you are blocked from the life insurance deal.

This Tesco webpage is your starting point.

Tesco Life Insurance

And here are the key things you need to know:

The minimum premium is £5 per month, so £60 over the year

If you are over 50 Tesco will steer you towards their separate over-50’s policy here which also offers 5,000 Clubcard points

The 5,000 Clubcard 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 L5000B when applying.

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.

You will see from the Tesco website that the same 5,000 Clubcard points offer is also available for Tesco Critical Illness cover and Tesco Mortgage Protection. The Critical Illness policy has a higher risk of being called in for a medical before they will offer coverage – I would stick with life insurance unless you are blocked under the ’12 months from cancelling last time’ rule.

All in all, it is not a bad deal, although far from the bonanza it was in the past.  You will receive (5,000 x 2.4 =) 12,000 Avios for your £60 of premiums. 0.5p per Avios is pretty good deal.

If you don’t want to use the points for airline miles, this page on our sister site Shopper Points shows the best value Tesco Clubcard Boost redemptions.

The downside is the paperwork you need to complete, of course.

If you collect Virgin Flying Club miles, your 5,000 points would get you 12,500 miles.

The closing date for applications under this offer is 1st December, so you still have ten days to think about it.

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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Comments

  1. Bruceylegs says:

    I took my policy out in August but haven’t received my first tranche of points yet, has anybody else received theirs?

  2. Sussex bantam says:

    Got my first set of points last week…

  3. •Maximum two offers per household. Not available to customers who have cancelled any Tesco Bank Life Insurance, Life and Critical Illness Insurance or Over 50’s Plan within the last 12 months.

    So you can’t take out Critical Ollness (and expect to get the points) if you are barred from taking out Life because of the 12 months issue

  4. Our points arrived a few days after the date of the 3rd payment.

  5. Whats the length of cover for? If you can cancel in 1 year? – Min seems to be 5 years?

    • You can cancel insurance products at any time. However, if you take out a finance product (loan) to fund the insurance, you will not be able to cancel this the same way. So AVOID taking out a finance product, read the small print. Usually identified with monthly payments (not all monthly payment schemes = finance product).

    • Cancel whenever. The time period is actually there to protect you – if you get ill, Tesco cannot hike your premium for the period you select.

  6. Thanks for the reminder, we both took out policies this evening.

  7. Peter Taysum says:

    OT totally

    Just a hello from Iguacu Falls. Thanks to Rob, I came here from AMS to GIG for around 650 quid and 20000 Avios on Iberia. Hop from NCL to AMS on KLM with Al Italia Status Match from BA Gold was lovely. Well a hop to IGU, in Economy with NO STATUS (Gol is staying independent) not so lovel, but makes you realise all the benefits we get from our planning.

    Only got Status in August for Hawaii Tier Pont Run! :-)

    The little hobby has been rather fab!

    Thanks Rob, et al! :-)

  8. They are way over priced regardless of Avios! They are twice the price of Standard life for a basic non-decreasing policy.

    I don’t know how well this would play out if you done the policy for the year.

    • That’s not the point. The insurance is a bonus. The purpose of buying this deal is not to insure yourself but to get cheap Avios.

    • Well it’s saved me £10 a month on what I was paying (one of those expenses I’d forgotten about), with the bonus of 5000 Avios. Suits me.

  9. Never cancelled my policy from last promotion. Can I sign up again & cancel my old policy after a while?

  10. Rob, there is also an offer with Aviva life insurance at the moment for a £75 Amazon voucher – requires 5 x £5 payments but not too much hassle for a free £50.

    http://www.aviva.co.uk/life/offer/

  11. Is there an email address to cancel ?

  12. paid my 3rd premium a week ago but still not seeing my 1250 points. anyone else having this problem or maybe i messed up by not applying the L5000B code correctly?