3,500 Clubcard points (8,400 Avios) for taking out £15 of 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?

It’s back – the most (in)famous of Tesco’s regular bonus Clubcard promotions!

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 comes with a longer list of terms and conditions.  It still represents good value, though.

This Tesco webpage is your starting point.

Tesco Life Insurance clubcard offer

And here are the key things you need to know:

(Before we go any further, remember that – even if you fully intend to cancel the policy quickly – you are committing fraud if you make any false statements on the application form.)

  • This promotion is only available to the under-50’s – if you are over 50 you need to apply for their separate over-50’s policy here which has a £7 per month minimum premium
  • You must pay three monthly premiums (the lowest is £5) before you qualify for the points.
  • You must be over 18 and a UK resident
  • 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 LIFE50PTSP1 when applying.

(Do not be confused by the separate Critical Illness policy which also offers 3,500 points.  That carries more risk of a medical examination and has separate terms and conditions, one of which is that Tesco can take back your points if you cancel within 6 months.  Stick to Life Insurance.)

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 a very good deal.  Even at the basic Clubcard to Avios conversion rate, you will receive (3,500 x 2.4 =) 8,400 Avios for your £15 of premiums.  The downside is the paperwork you need to complete, of course.

The closing date for applications under this offer is 21st May.

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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  1. Scott says:

    Apparently I have got:

    “Thank you for answering all our questions. We need to look at the information you have provided in more detail before we can confirm whether we can accept your application.”

    Then it’s asking me to enter my doctors name and address. I’ve paused at the moment as I not sure whether it’s actually worth the effort – did anyone else get this screen? I’m guessing it’s come up with this because I have said yes to some of the lifestyle questions.

    • If I could use a “Double points” voucher that someone has just given me, I could be tempted to jump through the above hoops…Doubt it would be accepted though?

  2. Clearwater says:

    Has the terms and conditions for the “Life insurance” changed from yesterday?. I am sure it stated, as has been repeated on here, that you would get the points even if you cancel after 3 months. However, when looking at the additional t & c’s today of the Life Insurance it is the same as the Critical Illness cover, being “If you cancel your policy within the first 6 months, we reserve the right not to fulfil the Clubcard points.” I would have signed up yesterday, but didn’t have my cards to hand and believed there would have been no rush to do so.
    Is it still worth doing now and a good deal even if we have to do it for the 6 months, i.e. £30.

    • Yes, it has DEFINITELY changed. The 6 month clause was not there yesterday, although it was in the Critical Illness version.

      That said, how can they enforce it? The points are issued after 3 months and you will have had your vouchers before the 6 months are up! If you simply stop your direct debit, it also takes them a couple of months to get around to cancelling your policy, because your first get a bunch of letters saying that you must have made an error at the bank ….

      • Simon says:

        They did the same with the Blinkbox promotion where they changed the T&C’s after a couple of days of the promotion. It’s suitably vague but as it says

        The points will be added to a future Clubcard statement after three monthly premiums have been paid.

        It could be they are going to do what they did when I ordered some wine for 500 points and only add the points right at the end of the clubcard collection period so it could be more than 3 months until you see the points hit your clubcard statement.