Maximise your Avios, air miles and hotel points

12,000 Avios / 12,500 Flying Club miles for £60 with Tesco’s Mortgage Cover policy

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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?

Back in August, I wrote about the latest offer on Tesco Life Insurance.

This is not a bad offer at all.  Take out Tesco Life Insurance or Critical Illness Cover (or, er, both) and you will receive 5,000 Tesco Clubcard points.  These are paid at the rate of 1,250 per quarter for a year.

The minimum spend is £5 per month, so you would be paying £60 for your 5,000 points.  This would convert into 12,000 Avios points.

This offer is still running – the closing date is 29th October.

However, Tesco has added a new product – Mortgage Cover.

Mortgage Cover

Mortgage Cover is simply another product which pays out a sum of money if you die.  Unlike life assurance, though, you can choose to structure the policy so that it pays out less and less over the years, in line with the reducing balance of your mortgage.

As with Life Insurance, the minimum payment is £5 per month and the points arrive in four lumps of 1,250 over 12 months.

The key thing, though, is that there is no reason why you should not be able to get this deal even if you have already taken out the Life Insurance policy.  They are two separate products.

Cancelling, by the way, is very easy.  You can either write to them, or just cancel the direct debit.  After a couple of months they will write to say that your policy is now terminated.

As per my original post, remember that there is a risk that you will be asked to go for a medical before cover is granted.  If you declare any medical conditions then the risk is higher, but I assume they also select a small random number of ‘clean’ applicants as well.

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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