14,000 Nectar points with Sainsbury’s Bank Life Insurance

Sainsbury’s Bank hast two generous offers with their life insurance

After Tesco discontinued their life insurance for new customers, a nice way of earning extra Clubcard points disappeared.

This offer is still not back, however, Sainsbury’s Bank has a great introductory offer for new customers helping you improve your Nectar balance.

For every new life insurance policy Nectar card holders will get 14,000 Nectar points.

This is the equivalent of at least £70.

This introductory offer is only available for new customers who purchase one of the following life insurances:

life insurance

decreasing life insurance

over 50s life insurance

You need to purchase directly from the Sainsbury’s Bank website or by calling this phone number: 08000727891

Cover starts from £5 a month. You will receive the points after 5 months.

This means if you aren’t happy with your policy and cancel after 5 months you will still get the 14,000 Nectar points having paid just £25 for them and making a net profit of £45.

Double Nectar points

On top of that you will also get double Nectar points on your Sainsbury’s shop for two years.

Note that if you cancel your insurance before the two years are up the double Nectar points will stop.

All details can be found on this website.

 

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Comments

  1. Hi,
    Not sure how you get to £45 fir five months of premiums for 5 months.

    • Think Anika may have deducted £25 from £70 value to get £45…..why though, who knows?!

  2. Nice bonus with the Nectar points, but I’ve just done a quote and it is definitively not competitive to keep long term once the points have posted!

  3. Are there any other decent points offers for life insurance? I need a policy but don’t collect nectar points.

    • Lots of decent cashback deals (£80 or so) showing on Quidco/TCB – so if you prefer cash to Nectar points that might be the way to go…

  4. are people allowed to get more than 1 policy

    • Max 2 per household IIRC. Not sure about per individual.

      Thanks for heads up on this SP. Signed both Mrs G and myself up for this. When there’s an offer on £280 of nectar points for £50 ain’t too shabby.

      • How can you use those points to get £ 280 worth of value?

        • 5 months x £5 x Mr & Mrs G costs £50. They then get £70 each back after 5 months = £140 which they will hold onto until they can redeem for something useful in a double points value promotion, hence £280 for £50. Based on past experience they could achieve that using, for example, a combination of offers such as Virgin Trains, ebay and sainsbury double up events.

        • As James B said 🙂 It’s a cracking deal.

          Not a keeper long term though as Nick M notes but not needed (12x from work).

          • ..thanks both! Could work out nicely. I will need to do some research on Nectar double up promotions.

      • Thanks Anika and Ghengis for info. Will sign us up for a couple too. Adding these to last years amex cards bonuses and a further two to come later this year we will hopefully have at least £700 towards a new TV or an easyjet holiday weekend on nectar. Great return on zero expenditure in real terms 🙂

  5. Is there a minimum period for the cover ?

    If I opted for £5 per month for a years cover would I still get the points?