Paul Sanchez
Life insurance is a serious business, but that doesn't mean you can't get a little something back when you take out a policy. Many companies offer cashback deals when you buy life insurance, and some even offer gifts or gift cards. So, which life insurance company offers the best cashback deal?
| Characteristics | Values |
|---|---|
| Cashback amount | £100 |
| Cashback percentage | 10% |
| Cashback after 12 monthly payments | Yes |
| Cashback at the end of the term if you don't claim | Yes |
| Cashback deal comparison for £300,000 level term life insurance over 30 years | Yes |
| Cashback with gifts | Yes |
| Cashback with gift cards | Yes |
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What You'll Learn
How much cashback can you get with life insurance?
The amount of cashback you can get with life insurance varies. Some companies offer tiered cashback offers, with the headline cashback offer usually being unavailable to most. You can expect to qualify for around £100 cashback. Some companies offer 10% of your first year's premiums back once you've made 12 successful monthly payments.
Over 50s life insurance plans are usually sold with offers of gift cards for outlets such as Amazon, Argos and M&S.
You can find more information about the different types of life insurance that you can buy in an article called "Types of life insurance explained".
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How does life insurance with cashback work?
Life insurance with cashback is a policy that offers a gift when you start your cover. It is widely advertised and often associated with Over 50s life insurance policies, which are otherwise known as funeral plans.
A number of life insurance companies offer cashback when buying a life insurance policy. These include gift cards for outlets such as Amazon, Argos and M&S. The tiered offers of cashback mean that you're more likely to qualify for around £100 cashback and the headline cashback offer is usually unavailable to most.
Smart Insurance, for example, offers 10% of your first year's premiums back once you've made 12 successful monthly payments.
You can also buy life insurance through a cashback site, which will offer cashback at the end of the term if you don't claim.
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Is it worth taking cashback with life insurance?
Life insurance with cashback is a policy that offers a gift when you start your cover. It is often associated with Over 50s life insurance policies, which are also known as funeral plans. These plans are usually sold with offers of gift cards for outlets such as Amazon, Argos, and M&S.
Some life insurance companies offer cashback when buying a life insurance policy. The amount of cashback you can receive varies, with some companies offering up to £100 cashback, while others offer 10% of your first year's premiums back once you've made 12 successful monthly payments.
The benefit of life insurance with cashback is that you can receive a financial reward for taking out a policy. This can be a significant amount of money, especially if you are taking out a large policy.
However, it's important to consider the overall cost of the life insurance policy, as well as the terms and conditions of the cashback offer. For example, some cashback offers may only be available if you don't claim on your policy during the term. Additionally, the headline cashback offer is usually unavailable to most, and you're more likely to qualify for a smaller amount of cashback.
Overall, life insurance with cashback can be a good option if you are looking for a financial incentive to take out a policy. However, it's important to compare the overall cost and features of the policy, as well as the cashback offer, to ensure you are getting the best value for your money.
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Life insurance with gifts
When considering life insurance with gifts, it's important to compare different providers and their offers. Some companies may offer higher cashback amounts, while others may have more attractive gift options. It's also essential to read the fine print and understand the terms and conditions of the cashback or gift offer.
One highly-rated company that offers life insurance with cashback is Smart Insurance. They have earned an 'Excellent' rating on Trustpilot and the 10 Years of Excellence Trusted Service Award 2024 from Feefo. Their Smart Family Life Insurance product offers 5-star protection and 10% cashback on your first year's premiums after 12 successful monthly payments.
Another option is to use a life insurance broker that can help you find the cheapest price for your life insurance while also offering cashback. Money To The Masses, for example, offers up to £100 cashback when you purchase life insurance through them.
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Life insurance with cashback at the end of the term if you don't claim
Over 50s life insurance plans are often sold with offers of gift cards for outlets such as Amazon, Argos, and M&S. These plans are also known as funeral plans.
When looking for life insurance with cashback, it is important to consider the quality of the policy and the company's customer service. Smart Insurance, for example, has an 'Excellent' rating on Trustpilot and has won awards for its customer experience.
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Frequently asked questions
Life insurance with cashback is when you get a percentage of your first year's premiums back once you've made a certain number of monthly payments.
The amount of cashback you can get varies. Some companies offer up to £100 cashback, while others offer 10% of your first year's premiums back.
Smart Insurance is one company that offers 10% cashback on their 5-star rated Smart Family Life Insurance. Money To The Masses is another company that offers up to £100 cashback while finding you the cheapest price for your life insurance.
