Life Insurance with Free Gifts. Broker deals from £5pm.

Really……’Life Insurance and FREE Gift’?

uk life insurance free gifts

5 Reasons NOT to Buy ‘Life Insurance with Free Gifts’

  1. To help cover the cost of their ‘Free Gifts’ Providers often increase their monthly premiums
  2. Against Broker quotes often show their premiums to be £1,000’s more expensive longer term
  3. Many Providers only used 1 Insurer in a study that offer life insurance free gifts
  4. That Life Insurance gift plan may not be the most suitable or comprehensive for your needs
  5. You won’t get the benefit of Professional Advice & Best Broker Only Deals

life insurance free gifts deals?

CONCLUSION: Don’t base your Families future health & well being on a ‘Free Gift’

  • Our Example Trial Quote was £500,000 level term life insurance 30 years [quoted 3/1/2020]*
  • We Independently Tested comparison online quotes for a Male aged 40, Smoker, Fit & Healthy
  • This Broker deal was then compared against 10 Providers offering various Life Insurance Gifts

  • broker deals We firstly quoted our 5 cheapest Broker Rate Deals with no fee discounts
  • 1) £81pm AIG 2) £82pm Zurich 3) £83pm Legal General 4) £84pm Vitality Life 5) £85pm Aegon
  • So cheapest broker test quote£500,000 level term life insurance over 30 years = AIG £81pm

We Compared 10 x Life Insurance ‘Free Gift Deals 2020’s’

  1. life insurance aig AIG Broker Deal: £81pm standard – optional waiver & comprehensive critical illness cover
  2. Post Office £184pm: £37,080 more expensive lifetime. Critical Illness limited to 25%. £50 Gift card
  3. Beagle Street £126pm: £16,200 more expensive lifetime. Critical Illness full. £180 Amazon Gift card
  4. COOP £122pm: £14,760 more expensive lifetime. 6 Critical Illness benefits age limited. £50 Food card
  5. M&S Bank £118pm: £13,230 more expensive lifetime. No Critical Illness option. £100 M&S card
  6. Barclays £114pm: £11,160 more expensive lifetime. No Critical Illness option. Blue reward
  7. Santander £109pm: £10,080 more expensive lifetime. Critical Illness limited to 25%. £50 Cashback
  8. Virgin Money £104pm: £8,280 more expensive lifetime. Critical Illness limited to 20%. Holiday prizedraw
  9. Direct Line £101pm: £7,200 more expensive lifetime. 3 Critical Illness benefits. £180 Gift card
  10. Churchill £99pm: £6,480 more expensive lifetime. 3 Critical Illness benefits. £180 Gift card

*Martin Lewis says never blindly buy Life Insurance or Critical Illness direct

Broker Deal compared vs 10 xFree Gift Life Insurance Deals’ to see actual Freebie costs Life Insurance Gift deals listed in order of lifetime cost differences between our standard life insurance only Broker Quote ie; critical illness or waiver not included

These 10 sample Life Insurance trial quote comparisons v our own Broker Rates done 3/1/2020. Some Providers just offered their optional basic 3 Critical Illness Plan Option. HSBC Life offered none. No waiver of premium option (protects premiums on illness or accident) on any free gift deals .T&C’s stand-alone life insurance quotes with gifts deals may all vary online if compared in the future & assume premiums paid

Prices can change regularly given market rates on life insurance quotes free gift or not. Providers may choose in future not to offer these gift deals or change Insurers. Any life insurance quotes with free gift deals vary regularly. Some Providers listed now may no longer offer life insurance deals into the future

CONCLUSION: Against Broker Quote | ‘Life Insurance and Free Gift’ Deals were Lifetime £1,000’s more expensive

Comparison: ‘Free Gift and Life Insurance’ 2020 ‘s vs Broker Rates

Life Insurance with Free gifts ? Compare broker deals from £5pm



Life Insurance with Free Gifts | Compare Broker deals
Compare our Life Insurance with Free Gifts “8 Top Tips2020’s

1] Free: £30,000 New Parents Life Insurance

  • This Free gift deal 2020’s was via Aviva as some Providers no longer offer this
  • Providers offers £15,000 per any New Parent for each child & for upto 12 months
  • New Parents can apply for separate policies if under 4 years old for each child
  • May not apply if you already have death insurance cover via these Insurers
  • Terms & Conditions will apply if you already have serious health issues

CONCLUSION: New Parents could get Free Life Insurance for upto 1 year

Life Insurance Free Gift
* source thesaurus plus

2] Free: Gift Rewards via Some Insurers

  • Some Insurers like Vitality Life offer points for keeping your active Health status
  • You can earn discounts & rewards eg; Starbucks, Amazon Prime, Ocado, VUE & Virgin Gym Active
  • They also reward you chance to keep your premiums low in future by staying active & healthy
  • All these life insurance deals with free gift are also based interactively
  • You may need to regularly advise Insurers of your fitness lifestyle steps taken
  • Some insurers may also benefit getting reduced premiums by keeping ongoing good health

CONCLUSION: Earn rewards to those who demonstrate good long term health

3] Free: Poorer Health Check Comparison

  • What happens if you have poor health or family history eg; Raised BMI, Diabetes, Cancer ?
  • In this instance, just one Insurer maybe likely to increase your premiums to cover their higher risk
  • Our ‘Free Gift Life Insurance’ Providers list did not offer any poorer health comparison check
  • As only 1 Provider, unable to compare if their life insurance quotes with free gifts deal is even fair
  • Our brokers may kindly contact various Underwriters to check around Competitive market deals
  • We maybe able to get standard rates, whereas your life insurance free gift card Insurers may not

CONCLUSION: Our Brokers compare Insurers for deals if you have health concerns

free gift life insurance | compare broker deals

4] Free: Critical Illness Insurance Upgrade

  • Many ‘Free Gift Life Insurance’ deals also just offered their basic Critical Illness plan option
  • Simple Critical Illness plans may only just cover certain types of cancer, heart disease & stroke
  • Child cover is often also not included as free part of some of these deals, unlike broker quotes
  • Some ‘Free Gift’ providers have also limited the total amount of critical illness coverage allowable
  • This limit could be age dependant, or just based on a low percentage % of main life cover amount
  • Using brokers could access a wider lifecover and critical illness marketplace & higher cover levels
  • Lump Sums or Family Income Benefits options which some free gift deals don’t offer

CONCLUSION: Broker Critical Illness Panel Deals may cover 50+ benefits ( not just 3 )

5] Free: Waiver of Premium Benefit access

  • Waiver benefit means your premiums are paid due to longer term illness or accident
  • Our ‘Free Gift Life Insurance’ Providers check all did not offer access to waiver benefit option
  • Premiums could be ‘waived’ after 4/8/13/26 weeks until return to work or your plan ends
  • It makes sense to have waiver if you have insufficient savings, sickpay or income protection
  • Should you have to stop your cover, you may find it hard to get an affordable policy again
  • Review any best life insurance free gift deal only by the valuable life policy benefits not any free gift

CONCLUSION: Premium Waiver helps ensure your Life Insurance is not at risk upon ill health

gift with life insurance
FREE?…This maybe an Expensive Gift Life Insurance Deal

6] Free: Access to Higher Age limits

  • Some ‘Free Gift Life Insurance’ Providers we checked all did not allow higher age limits
  • You were often restricted to a maximum age entry & this could be as low as age 59
  • Or alternatively if looking for longer term cover limited to their plan expiry ages
  • You may feel your only choice then is best over 50’s life insurance with a free gift
  • As brokers we may offer access to term life Providers who go upto age 90 or whole lifecover

CONCLUSION: Don’t feel you have been declined life insurance cover due to your age

7] Free: Vaping Smoker Life Insurance checks

  • The ‘Life Insurance with Gift Card’ Providers we checked all did not offer vaping deals
  • This means Insurers will still class you on more expensive smoking rates if you vape
  • As brokers we may possibly offer alternative Providers some charge lower quotes
  • These may apply if you have given up all nicotine products for 1 year before vaping
  • Terms & Conditions for underwritten insurance will apply as always

CONCLUSION: Contact us for Insurers that may offer you cheaper Vaping only deals

8] Free: Access to Range of Life Insurers

  • Don’t restrict yourself to 1 Insurer, a limited product range & higher costs all just for a ‘free gift’
  • Brokers can help you source a competitive deal especially if you have any health concerns
  • We can compare true costs of any term lifecover or over 50 life insurance free gift deals
  • By dealing with a broker you can discuss over your best options moving forwards
  • Ensure the policy is setup into a suitable trust to address any probate issues or Inheritance Tax IHT.
  • Note: We get paid a commission advice fee for only arranging a policy once setup via the Insurers

CONCLUSION: Makes sense to compare a range of Life Insurance Company deals not just 1 Insurer

no free lunch re life insurance

Should I buy a Life Insurance with Free Gift?

Is Free Gift Life Insurance a good idea?

NO as you may already guess, we don’t think just getting a ‘Free Gift with Life Insurance’ should determine your best options for Life Cover.

Our research test example has shown it could work far more £1,000’s expensive in the longer term…. That makes we think no good business sense.

Getting ‘life insurance quotes with free gift’ sounds okay BUT maybe an expensive & inappropriate solution for you and your family.

Don’t buy Life Insurance with Free Gifts | There is no such thing as a Free Lunch!

CONCLUSION: Get Best Broker Deals NOT Free Gift Life Insurance Deals

Article on ‘Life Insurance with Free Gifts’ by Martyn Spencer Financial Adviser (2024)

For reassurance re health for men & women we review many of the best Life Insurers selling Life Insurance in UK