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

AddictedMoneysaver

I haven't posted on MSE for a while but as everyone loves a Tesco loophole, I thought this one was too good not to share... Have posted it in Grabbit as there's always a chance Tesco could pull it if the promotion gets too much attention. 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!).

Here's the link to the deal: http://www.tescobank.com/personal/finance/insurance/lifeins/index.html?cmpid=offline/leaflet/lifeins/tesco/

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.

moneysavingyvonne

Thank you. Just signed up for 5 quid a month. Happy days!!

teabag29

Ive also just signed up for £5 a month premium. When do the points go on? do you think they will be on in time for the november statement ready for xmas double up or is that wishful thinking on my part lol

carolfunkydiva

It wont allow me to do one for less than £7.50 month (single policy in hubbies name, level amount, 10 years)

A_Phoenix_of_Tangerine

Even though you have to set a policy time of, say, 5 years, can you still cancel after 3 months, or are you committed to paying out for the whole 5 years?

kwt

carolfunkydiva wrote: »

It wont allow me to do one for less than £7.50 month (single policy in hubbies name, level amount, 10 years)

Same here - can't get lower than £7.50

Suzy-Q

Just signed up. £7.50 per month for me also, but still a good deal!:j

Suzy-Q

Sorry forgot to thank OP:o.Many thanks.

cambermam

You can tell it how much you want to pay. I got it for £5 and i confessed to being a smoker. It's covered me for 79k for £5 a month.

Thanks OP

sonstream

just signed up to this £5 a month

ty op

littlelost

Hiya my husband has signed up for £5 a month thanks op, We only use one clubcard between us would I get away with also signing up for a policy and getting the points as well as him?