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Get 10,000 Virgin Flying Club miles with (potentially cheap) Virgin Money life insurance

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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

How to earn Virgin Points from UK credit cards (October 2021)

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, one has a bonus of 15,000 points):

Virgin Rewards credit card

Virgin Atlantic Reward Mastercard

The UK’s most generous free Visa or Mastercard at 0.75 points / £1 Read our full review

Virgin Rewards Plus credit card

Virgin Atlantic Reward+ Mastercard

15,000 points bonus and the most generous non-Amex for day to day spending Read our full review

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:

Nectar American Express

American Express Preferred Rewards Gold

Your best beginner’s card – 30,000 points, FREE for a year & two airport lounge passes Read our full review

Until 2nd November 2021, there is a special offer on The Platinum Card from American Express.

You will receive a sign-up bonus of 60,000 Amex points which converts into 60,000 Virgin Points.

American Express Platinum card Amex

The Platinum Card from American Express

60,000 points and an unbeatable set of travel benefits – for a fee Read our full review

Click here to read our detailed summary of all UK credit cards which earn 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.)

Comments (108)

  • Simon says:

    free will and trust service included. I wonder if a joint application could also get you a basic mirrored will!?

    • Andrew C says:

      Yes, it’s stated in the terms and conditions:

      “Customers purchasing a joint policy will be eligible for a Free Simple Will or a Joint Mirror Will (as defined below).”

      • Simon says:

        I just saw that too. Also states that the will needs to be created within the first 6 months of policy and that cost of will can be reclaimed by virgin if the policy is cancelled with 6 months of taking up the will offer. If you a couple with no will in place this could be worth doing!

        • Genghis says:

          Knocking up a straight forward will is easy and you can do it yourself for free. In fact, I viewed my grandad’s a couple of weeks ago and the one I drafted based on templates from MSE a few years ago was much better than the one he’d paid for.

  • AndyW says:

    A bit upset that mine was over a pound a month…

  • BP says:

    £1 exactly here. I’ll probably transfer the points to IHG to help make Spire again.

  • Neil says:

    £1.68 a month… got it! Surely this is going to be pulled soon at those prices…?!?

  • Kathy says:

    I got quoted £1.10 per month indicative. As I still need to make a will it’s probably worth keeping it for a year just for that!

  • Joe says:

    Great, managed to get it for £0.94/month! Might as well go for it at that price.

  • SoloFlyer says:

    I spoke to Virgin Money on their live chat and they checked my quotation of £1.40 per month and confirmed it had tracked for the 10,000 miles. Once I asked if there was a minimum premium to be applied they went to go check and confirmed that there is no minimum. Easy 10,000 flying club miles!

    • Lucy says:

      There’s always one….

      Virgin Back office now aware of the loophole…

    • John says:

      How to kill a deal

      • Mycity says:

        Why even call them at £1.40 a month, most likely deal will go.

        • Roberto says:

          First rule of fight club……….

        • the real harry1 says:

          yep hopeless schoolboy error 🙂 – but won’t have changed anything much as the Virgin marketing team read HFP – I just wonder if Virgin Money’s sale to CYBG means that having bumper numbers of new Life Insurance recruits (& new Virgin Credit Card applications) is somehow helpful to the marketing team concerned…bonus points being a future liability

          whatever, get in quick while the sun shines was always a good axiom lol

      • Callum says:

        Yeah because I’m sure they have no idea about why they’ve suddenly got thousands of new customers paying dirt cheap premiums the day a site they work with promoted it…. The only way they found out was by someone asking on live chat…

        • Lucinda says:

          Do you think Virgin actually monitor these on a minute by minute basis?

          Most likely look at the applications over a few days when they will realise the premiums are very cheap and not what was forecast.

          And who says Virgin marketing team read HFP first thing and every day?

          Always best to keep the lid on these things and NEVER phone CS !

          I bet Soloflyer rang BA about the TLV fare too…

        • Callum says:

          Yes, I’d imagine they do have real time reporting tools. They’re a large financial organisation – that’s hardly far-fetched.

        • Genghis says:

          @Rob to say?

          • Rob says:

            They were attempting to blame us for your behaviour 🙂 I believe we pointed out that our entire article was a cut and paste, effectively, from their own website and nothing more.

            It is of course tricky because our friends at Flying Club will be wetting themselves at the thought of a nice big cheque from VM. We have seen this before with Avios before where the motivation of the offer sponsor and Avios themselves clearly does not align ….

    • Lady London says:

      Can I “interview” you on frequent flyer deal non-blab management practice, at the Summer Party?

  • Mark2 says:

    You need to be over 18 and less than 64, so no good to me.

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