Tesco Life Insurance - 3000 bonus clubcard points (worth upto £120) for a new policy - potential £15 spend!
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Tesco Life Insurance - 3000 bonus clubcard points (worth upto £120) for a new policy - potential £15 spend!

20
Found 19th Oct 2011
As with most of my deals there is a small amount of legwork involved (took me 10 minutes to fill out the online forms) but with this offer you can make a potential sort-of-profit of £105 so I'd say it's worth it. Especially when the t&c state 'one offer per policy' instead of 'one per household' so your partner could also take advantage of it! Here's the details....

Tesco Life Insurance are currently running a promotion where poeple applying for new policies receive 3000 bonus clubcard points. These are worth £30 off your instore shopping, £60 when they run an instore double-up your vouchers promotion, or, as-of 24th October, these points can be converted to deals vouchers worth £120 which can be used towards various products and services (see here http://www.tesco.com/clubcard/deals)

The T&C state 'Points will appear in the next available statement ... If the policy is cancelled within the first three months, we reserve the right not to fulfil the Clubcard points' and with Tesco's Life Insurance you can choose how much you want to pay each month. The lowest allowed amount is £5 per month so I make that £15 for £120 worth of deals vouchers hence a £120 profit (sort of!).

Full T&C:
Available to new Tesco Life Insurance customers who get a quote between 15 September and 9 November 2011 and then buy the policy. This offer is only available to Clubcard holders who provide their Clubcard number at point of quote. One offer per policy. Points will appear in the next available statement; this may not be the next statement that you receive. If the policy is cancelled within the first three months, we reserve the right not to fulfil the Clubcard points. The Clubcard scheme is administered by Tesco Stores. Tesco Stores are responsible for fulfulling points.
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20 Comments
Looks good to me.
Thanks
If you die during the 3 month life insurance, who gets the clubcard vouchers ?
Original Poster
Your next-of-kin as well as an insurance payout... win-win!!!

Actually I'm not sure but would imagine the vouchers would be classed as a cash asset and would be passed to whoever you have named in your will as your beneficiary (or your next-of-kin if you don't have a will)
Original Poster
Am surprised that this deal's heat is jumping up and down - have I missed something in the t&c or is it really too much legwork? I really wish cold voters would comment when voting!
Banned
i have been looking at life insurance as my bank is really expensive, and always want you to have the extra protection. i have recently cancelled mine, and having two children and a husband, could really do with taking it out. this actually seems like a good deal to me (the points are just a bonus) thank you for posting. need to get my bum into gear and sort it out. thanks
Would imagine you would probably have to wait 3-6 months minimum before receiving the points, thats if they "remember" at all. But very good deal anyway.
Is it the same price regardless of age, previous illnesses, or if you've previously been in prison/hotel for life ?
Original Poster
stanley

Would imagine you would probably have to wait 3-6 months minimum before … Would imagine you would probably have to wait 3-6 months minimum before receiving the points, thats if they "remember" at all. But very good deal anyway.



The t&c state 'Points will appear in the next available statement; this may not be the next statement that you receive' - I think I had one through a few weeks ago so shoud be about a 2 month wait?

renderman

Is it the same price regardless of age, previous illnesses, or if you've … Is it the same price regardless of age, previous illnesses, or if you've previously been in prison/hotel for life ?



Not sure exactly but as you choose how much you want to pay per month an they then set the payout level, I'd imagine you'd just receive a lower payout amount or would just be declined cover if you have previous illnesses/convictions.
Can you actually cancel after 3 months, or do you then have to take it for a full year?
davesherman

The t&c state 'Points will appear in the next available statement; this … The t&c state 'Points will appear in the next available statement; this may not be the next statement that you receive' - I think I had one through a few weeks ago so shoud be about a 2 month wait?



Next statement is processed on the 22nd, so i doubt it will make that one.
Sweet might get this for the wife
If you are older, the minimum premium increases, I'm 47 (minimum premium is £7.50)
Not as good a deal for me.
Original Poster
Polar1

Can you actually cancel after 3 months, or do you then have to take it … Can you actually cancel after 3 months, or do you then have to take it for a full year?



It states 'If the policy is cancelled within the first three months, we reserve the right not to fulfil the Clubcard points' and there's no mention of a tie-in period so I'd assume you can cancel whenever you want to.

BuddyBonkers - not as good a deal but still a good deal! In your case it'd just be £120 of deals vouchers for £30 instead of £20 - still a £90 profit
Banned
The lowest allowed amount is £5 per month

anyone got a quote this low as hard to vote if its just a headline rate that no-one except Superman can get!
Original Poster
I got it - Male, 29, non-smoker.

Rather than you entering your details and getting a quote you can choose how much you want to pay per month and it'll work out how much your payout would be so this should be the price for the majority of people.
just put all you want to pay a month is £5 easy as that
Hot from me. Took a policy out at £5 per month equating to £17500 life cover. Will keep an eye on the clubcard statement to see if it comes through. Cheers for the find.
cheers op
nice deal
£5 per month for a life cover worth £17500 is a terrific deal in my book.
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