There are no tricks here, don’t worry. Life insurance with cash back is exactly what it sounds like: getting some of the money you pay for your policy back in cash. Everybody likes getting a discount, so Pure Cover is at hand to explain where to go if you want to take advantage of cash back offers when getting life cover.
Life insurance with cash back is not usually offered directly by insurers. Instead platforms devoted to getting their users a host of cash back deals, such as TopCashback and Quidco, negotiate deals with life insurance companies for their members.
Some insurers, such as Smart Insurance, offer cash back deals directly to their customers, but this isn’t widespread. If you want to get cash back with your life insurance policy, your best strategy is to register with a cash back site and have a look at their offers.
Yes, once you’ve registered for a cash back platform you’ll be able to take advantage of a range of life insurance cash back deals. Exactly which companies’ policies are available will depend on the site, so if you’re looking for cash back on a specific policy you might have to check out a few different sites.
In addition to this, cash back platforms have deals through which you can get some of your money back as cash when purchasing a wide variety of things. So your insurance might not be the only thing on which you end up saving.
This will depend on the level of your premium payments. With premiums payments around £25 a month you can usually expect to get around £150 cash back on the policy, and with high premiums (more than £100 a month) the number can rise to over £500.
At Pure Cover we always reiterate that the most important thing in any insurance policy is that it offers you the right level of cover at the right price. The purpose of getting life insurance is to make sure your loved ones would be supported if the worst were to happen and to give you peace of mind. Look at the details carefully to get a policy to suit your needs.
As long as you’re satisfied that a policy is right for you, then finding a cash back deal on it is a great bonus, but don’t let a few fifty pound notes distract you from getting the best policy.