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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 (November 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 20,000 Membership Rewards points, which convert into 20,000 Virgin Points:

Nectar American Express

American Express Preferred Rewards Gold

Your best beginner’s card – 20,000 points, FREE for a year & two airport lounge passes Read our full review

The Platinum Card from American Express comes with 30,000 Membership Rewards points, which convert into 30,000 Virgin Points:

American Express Platinum card Amex

The Platinum Card from American Express

30,000 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)

  • Roberto says:

    I took a cheap punt for me and SWMBO. Cheap enough for about £25 for both of us ( separately) for 20k virgin miles and a three year reset.

    Fingers crossed..

  • John says:

    Did a quote on decreasing terms for minimum amount of cover £40k and minimum length of 5 years. Quote come to £0.92 per month. Live chat with them and they confirmed that I have gone through the correct route to get the 10k miles offer. Went on to complete the questions and setup direct debit. Also saved a copy of the transcript to the chat in case they change their mind 6 months time. If all works out, it will be £5.52 for 10,000 miles which is less than 0.06p/mile. Absolute bargain!

  • Moktar says:

    OT: Tried to use a 2for1 voucher on Titan flight, and was told I can’t use it. Is it bad luck with the particular agent or strict rule of BA?

    • Stu N says:

      Strictly the flight has to be BA Marketed and Operated – i.e. BA flight number and a BA aircraft. It’s aimed at preventing you using them on codeshares, but seems to also be an issue when BA are using leased aircraft to cover their own operations.

      There were some reports of similar issues a couple of years ago when they were using JetTime for some cover at Heathrow – some people were able to use 2-4-1s, others weren’t. I’d try a different agent and see what happens.

      • Rob says:

        BA refused to let me book a Titan flight using a Gold ‘double Avios’ redemption for the same reason.

  • the real harry1 says:

    Looks like Prime Day will be July 16th (Amazon’s version of Black Friday)

  • Relaxo says:

    OT- virgin cc related. I got my email with the promo sign up bonuses but I had jumped the gun & applied for the card a couple of weeks earlier. Have not activated my card yet though. Any idea if I would get the promo bonus points offer if I did not apply using their special link?

  • the real harry1 says:

    I wonder why Anika said: The minimum premium seems to be £6 a month for a level term policy.

    Must have been justified, ie by the press release or by trying & finding out for herself.

    Which implies £6/ month WAS the minimum intended – which naturally makes more sense than 83p when you are giving a bonus of 10K points.

    We will only know when the T&Cs change overnight – so play safe & take screenshots.

    Virgin are pretty good at stealing back miles if they consider awarding them is not merited.

    • The Original Nick says:

      On that comment Harry I may give it a miss. Very tempted though.

      • the real harry1 says:

        Not a lot to lose if you are young enough to get £1/ month

        • Zoe says:

          Could take them to the ombudsman if they don’t stick to the T&Cs and I’m pretty sure it costs them about £400 each time that happens, so they would be likely to cave just ahead of that.

      • Rob says:

        £6 is for LEVEL TERM insurance. It is ‘decreasing term’ where the very cheap rates come up (AFAIK).

    • palcsaky says:

      It’s an example price for a typical life insurance, not a minimum price that must be paid in order to get the bonus miles.
      ** 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.

  • Dave says:

    I’ve taken out a policy, BUT… just realised I used my old Flying Club membership number (pre Nov 2016). I don’t use Virgin much… Do you think I’ve shot myself in the foot, or will Virgin have linked them all in the back end somewhere?

    • the real harry1 says:

      You could get on Chat & make sure the points will go to the right a/c

  • Peter K says:

    Thanks Harry. That’ll be very useful.

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