It’s back – earn 5,000 Tesco Clubcard points when you take out Tesco Life Insurance.
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.
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.
You are also now banned from taking out this deal if you have cancelled a Tesco Life Insurance policy in the last 12 months. It 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.
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. 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.
How to earn Avios from UK credit cards (June 2022)
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.
Until 18th July 2022 there is an astonishing special offer on these cards. You get 50,000 Avios on the Avios Plus Mastercard and 10,000 Avios on the free Avios Mastercard. You can apply here. We strongly recommend getting the Avios Plus card whilst this offer is running.
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.
SPECIAL OFFER: The sign-up bonus on Amex Gold is increased from 20,000 Membership Rewards points to 30,000 Membership Rewards points until 19th July 2022. This card is free for the first year.
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 10,000 Avios.
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.
(Want to earn more Avios? Click here to visit our home page for our latest articles on earning and spending your Avios points and click here to see how to earn more Avios this month from offers and promotions.)