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Last chance to get 3,000 Clubcard points from Tesco Life Insurance

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On Tuesday I wrote this post on four Tesco Clubcard bonus point opportunities.  I said that I would write more about this offer for Tesco Life Insurance and Tesco Critical Illness Cover, since it could be attractive for some people.

The crux of the offer is that if you take out Tesco Life Insurance or Tesco Critical Illness Cover before 15th August, you will receive 3,000 Clubcard points

This is worth 7,200 Avios points or 7,500 Virgin Flying Club miles at the base rate, and a whopping 10,800 Avios or 11,250 Virgin miles if there is a repeat of the current ‘50% bonus miles’ Tesco conversion promotion.

The minimum monthly payment for Tesco Life Insurance, if you are under 50 years old, is just £5 per month.  You need to keep the policy going for 6 months to stop Tesco taking back the Clubcard points (they seem to post in 3-4 months) so you are looking at an outlay of £30.  For 7,200 Avios this is a very decent deal, at under 0.5p per Avios.

If you convert during a conversion bonus, you would be looking at around 0.3p per Avios which is a real steal.

Now, there are a couple of things you need to know before you apply.

  • If you are not in perfect health, you may be asked to take a medical before you are accepted.  This is obviously not worth the trouble for a few cheap Avios.  You therefore need to decide whether or not to be truthful about any medical conditions you have (technically fraudulent, but Tesco cannot double-check.  If you did die, they would simply refuse to pay out when they found out about your pre-existing condition.)
  • If you are in perfect health, there is a chance that you will be selected for a random medical.  However, you can simply not bother and terminate the application at this stage.
  • If you already have life insurance, check to see if you are allowed to have multiple policies (you are usually OK up to a certain level of cover)
  • You will have to deal with quite a bit of paperwork.  You will be sent policy documents and cooling off cancellation forms, and once you cancel your direct debit you will get various warning letters telling you that your policy is about to lapse.

That said, you can apply online and can cancel simply by cancelling your direct debit with your bank, so no human contact is required!  The quote form is very straightforward, and allows you to set your monthly premium (put in £5) and term (put in 5 years, which is the minimum, although you can cancel at any time) which gets you around £30,000 of cover.

It is not clear if you can get 6,000 Clubcard points by applying for both Life Insurance and Critical Illness cover.  I know someone who did get both last time this promotion ran in 2011, but this may have been a fluke.  It is up to you whether you apply for both or just the Life Insurance.

You need to get your quote by 15th August – in theory you can apply later and still get the bonus – so if you want to apply you need to do it during the next few days.  It is certainly worth thinking about, especially if you are under-50 and can get the £5 per month terms.


How to earn Avios from UK credit cards (September 2023)

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:

Barclaycard Avios Plus card

Barclaycard Avios Plus Mastercard

Get 25,000 Avios for signing up and an upgrade voucher at £10,000 Read our full review

Barclaycard Avios card

Barclaycard Avios Mastercard

5,000 Avios for signing up and an upgrade voucher at £20,000 Read our full review

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

British Airways American Express Premium Plus

25,000 Avios and the famous annual 2-4-1 voucher Read our full review

British Airways American Express

5,000 Avios for signing up and an Economy 2-4-1 voucher for spending £12,000 Read our full review

You can also get generous sign-up bonuses by applying for American Express cards which earn Membership Rewards points.

American Express Preferred Rewards Gold

Your best beginner’s card – 20,000 points, FREE for a year & four airport lounge passes Read our full review

The Platinum Card from American Express

30,000 points and a huge range of valuable benefits – for a fee Read our full review

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.

Capital On Tap Business Rewards Visa

Get a 10,000 points bonus plus an extra 500 points for our readers Read our full review

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.

EDIT: Applications for this card are temporarily suspended due to IT issues with the British Airways On Business SME loyalty scheme.

British Airways Accelerating Business American Express

30,000 Avios sign-up bonus – plus annual bonuses of up to 30,000 Avios Read our full review

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.

American Express Business Platinum

40,000 points bonus and an annual £200 Amex Travel credit Read our full review

American Express Business Gold

20,000 points sign-up bonus and free for a year Read our full review

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

Comments (2)

This article is closed to new comments. Feel free to ask your question in the HfP forums.

  • Tim nice but dim says:

    I should warn that Tesco Bank have been farcical in giving the points out. Mine took endless phone calls to different departments and 3 months of delay before they conceded.

    • Raffles says:

      People do seem to be having more trouble this time. When I did it last year, they posted ok with no chasing.

This article is closed to new comments. Feel free to ask your question in the HfP forums.

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