Virgin Money has launched a bonus miles offer with its life insurance policies.
Until 7th August Virgin Atlantic Flying Club members who take out a life insurance policy will receive 10,000 Flying Club miles.
The key things you need to know are:
The minimum premium seems to be £6 a month for a level term policy
The 10,000 Virgin Flying Club miles are awarded up to 60 days after the sixth consecutive monthly payment
You must be a Virgin Flying Club member
You must be a UK resident and over 18 years old
This offer is for new customers only
One offer per person – joint policies receive the same 10,000 miles
The application website is here. You can also apply by calling 0800 0728870.
Virgin Money life insurance policies come with various perks including access to the Virgin Money lounges.
Virgin Money’s website gives the following price example:
“Virgin Money Life Insurance from £6 per month. Based on a 30 year old non-smoker purchasing single level-term £202,000 cover for 10 years. Prices correct as of May 2018.”
If you qualify for the cheapest monthly payment of £6, you need to pay at least £36 to receive the 10,000 Flying Club miles. This assumes you are happy to cancel before the miles arrive, as that may take an extra 60 days as per the rules.
You will in this case receive 10,000 Flying Club miles for your £36 of premiums. 0.36p per Flying Club mile is a pretty good deal indeed ……
The downside is of course the paperwork you need to complete. Depending on your health, and based on experience with Tesco Bank life insurance promos in the past, you may also be asked to have a medical examination before being accepted.
The closing date for applications under this offer is 7th August, so you have over a month to decide whether you want to take out a life insurance policy with Virgin Money.
How to earn Virgin Points from UK credit cards (June 2022)
As a reminder, there are various ways of earning Virgin Points from UK credit cards. Many cards also have generous sign-up bonuses.
You can choose from two official Virgin Atlantic credit cards (apply here, the Reward+ card has a bonus of 15,000 Virgin Points):
You can also earn Virgin Points from various American Express cards – and these have sign-up bonuses too.
American Express Preferred Rewards Gold is FREE for a year and comes with 30,000 Membership Rewards points, which convert into 30,000 Virgin 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.
The Platinum Card from American Express comes with 30,000 Membership Rewards points, which convert into 30,000 Virgin Points.
Small business owners should consider the two American Express Business cards. Points convert at 1:1 into Virgin Points.
(Want to earn more Virgin Points? Click here to see our recent articles on Virgin Atlantic and Flying Club and click here for our home page with the latest news on earning and spending other airline and hotel points.)