There is no standard life insurance discount that every insurer gives, but several run gift card offers, one big insurer publishes a discount for existing customers, and one bank pays cashback on the policies it sells. This page sets out what insurers' own pages said on 18 October 2026, and the conditions attached, so you can see what an offer is before it influences you.

None of it is a reason to choose a policy: the cover, not the incentive, is what you are buying. To see what cover would cost you, send your details through the form here and an FCA-authorised broker will contact you. It is free to use.

Which insurers offer gift cards with life insurance?

Several do, and each offer is a time-limited promotion with its own terms. These are the ones on insurers' pages on 18 October 2026, with the date of the page or terms where one is printed. Gift values are not listed here: several rise with the monthly premium, and each insurer's current page states its own. Offers change often, so check the terms that apply on the day you apply.

  • Aviva (direct page, WC05632 09/2026). An Amazon.co.uk gift card for applications made "by 9 November 2026", claimable after six monthly premiums, with a value that "depends on how much your monthly premiums are".
  • LV= (direct page, terms for applications from 17 August 2026, no closing date given). An e-Gift card after the sixth monthly premium, for online applications LV= accepts. Its value "will be based on the first monthly premium of the policy purchased", and LV= keeps the right to change the terms or withdraw the offer at any time.
  • Legal & General (gift card terms page, undated). An Amazon.co.uk or M&S e-Gift card. Its terms say "You will be eligible for your e-Gift card six months after your policy start date, provided you haven’t cancelled your policy and your payments are fully up to date", and that the offer is available only to people who apply directly to Legal & General.
  • Beagle Street (direct page, undated). A gift card and a soft toy, "Available only when purchasing a policy directly through Beagle Street", with the gift card claimable after the sixth monthly payment and its value varying with the monthly premium.
  • Post Office Life Insurance (undated page). A gift card or experience reward on its life insurance, with the footnote "Gift card or Experience offer ends 30 April 2027. Minimum premiums and 180-day qualifying period applies." The same page says the policy is underwritten and administered by Scottish Friendly Assurance Society Limited.
  • Scottish Friendly, Guaranteed Over 50s plan (undated page). A My Rewards gift voucher after 6 premium payments. The same page adds that no cash alternative is available and that Scottish Friendly may alter, cancel or withdraw the offer at any time.

Two patterns repeat: the reward comes only after several premiums, and most of these terms let the insurer withdraw it. Aviva's page says the offer "isn’t part of the policy terms and benefits, and may be withdrawn or changed at any time." The policy is what pays out; the gift is a one-off.

What conditions come with a gift card offer?

LV= sets out the fullest list of these insurers, and it shows the kind of condition to look for. Its terms say:

  • the offer is "only available to customers who apply for our Life Insurance or Life & Critical Illness Plan online directly from" lv.com, and "If you apply by telephone via LifeSearch, via a Financial Adviser, or via any of our other online affiliate partners / comparison websites, you will not be eligible";
  • "The offer is only available to customers who have paid their 6th monthly premium in full on the date it is due";
  • "If you have previously cancelled an LV= Life Insurance and/or LV= Life Insurance & Critical Illness plan you will not qualify for this offer";
  • "If you have not redeemed your e-Gift card within 90 days after the date the reward email is initially sent, you will no longer be able to redeem the e-Gift card."

Ask of any offer: which sales channel qualifies, how many premiums come first, what happens if you cancel or miss one, and when it closes.

The reward is also separate from the cover. Our page on comparing life insurance policies suggests weighing the cover first. If you are looking at over-50s plans, where gifts are common, the points about what an over-50s plan does and does not pay matter far more than a voucher. Whether anything in life insurance is truly free is a separate question, answered in our page on free life insurance.

How does life insurance cashback work?

Santander publishes the clearest example. The cashback terms its page linked on 18 October 2026 (reference LIFE MC0476, the August 2025 version) say: "Get £150 cashback when you take out a new Santander life protection policy and you’re a new or existing Santander mortgage, Private Banking, Select, or hold a current account from the Santander Edge current account range." They add: "All other customers will get £100 cashback after taking out a new Santander life protection policy." For the higher amount, the mortgage or account "must be open when the payment is processed".

The conditions:

  • "The policy term must be a minimum of 24 months to qualify for the cashback";
  • "The cashback won’t be paid if a claim has been paid during the qualifying period";
  • "We’ll aim for the cashback to be paid after 280 days of your policy start date", provided "the policy hasn’t been cancelled and the payments are up to date";
  • the document says "We reserve the right to withdraw this offer without notice at any time".

The terms say they apply to policies that Aviva Life & Pensions UK Limited administers and underwrites and Santander UK plc sells, with the promotional period starting on 1 August 2023. Check the offer is still running before you rely on it. Santander's page also discloses how such offers are funded: "Santander will be paid commission from Aviva for any life or critical illness insurance that you purchase and this commission will be included in your premium." It adds that Santander "receives an annual amount from Aviva towards marketing activities, which can be used from time to time for promotional offers such as cashback, vouchers or discounts."

Cashback websites such as Quidco set their own terms, so read them before buying through one. LV= states that its offer "is not available to cashback customers", which it defines as customers who receive a cash sum after buying through an LV= partner affiliate website. In other words, an insurer's gift and a cashback site's payment may not be available together.

Is there a discount for existing customers or for buying more than one policy?

Aviva publishes one. In the source notes on its life insurance page (WC05632 09/2026) it says: "10% discount available when buying direct through MyAviva, aviva.co.uk, or by phone when you have an existing Aviva branded product. Minimum premium of £5 a month applies. Excludes Aviva insurance products available through price comparison websites." It also says the discount "will be applied to your new life insurance policy automatically", that "Discount might be removed or changed at any time", and that "Product exclusions apply".

So the discount depends on buying direct rather than through a comparison website, already holding another Aviva-branded product, and a minimum premium. If you hold another product from one of the other insurers listed above, ask whether it offers a loyalty or multi-policy discount.

A discount on direct purchases from one insurer is worth weighing against seeing several insurers' quotes together. If you want that, our quotes page explains the routes, and a broker reached through our form can lay several insurers out in one conversation.

What about Vitality rewards, gym discounts and a free Apple Watch?

Vitality's rewards, and the conditions on them, are set by its own current terms: see Vitality life insurance gym discounts and the Vitality Apple Watch offer. Our page on Vitality's life cover covers the insurer, and its serious illness cover is separate.

For a gym membership, student or NHS discount, ask the insurer or a broker whether one applies and get its terms before relying on it. For Aviva, see Aviva life insurance gym discounts.

Does a discount or gift change what the cover costs you?

A gift does not change how the cover is priced. Aviva says there is no average cost, because the price depends on the level of cover you choose, the duration and your personal circumstances. Our cost page, part of the cost and quotes guide, goes through what moves the price, and answering health questions accurately matters far more than any offer.

One point is particular to gifts. Where the reward rises with the premium, as Aviva's, LV='s and Beagle Street's do, a bigger gift means a bigger premium. Taking more cover than you set out to buy, to reach a higher reward, is paying for the gift yourself.

A discount or gift cannot tell you whether a policy is the right size or length for you. For an actual figure on your own age, health and smoking status, the next step is the form on this page. It is free, and the FCA-authorised broker who replies can price the cover with several insurers and explain what each one asks.

Frequently asked questions

Do over-50s life insurance plans come with free gifts, and are they worth it?

Some do. Scottish Friendly's Guaranteed Over 50s plan page offers a gift voucher after 6 premium payments, and Santander's cashback terms list its Over 50s Life Insurance policy among the eligible products. Whether a plan is worth having depends on what it pays and what you pay in, which a voucher does not change; see our over-50s life insurance page.

Can I get a free Apple Watch with Vitality life insurance?

That depends on Vitality's current terms; the Vitality Apple Watch offer sets out how it works and what it requires.

Does the gift card change what the policy pays?

Aviva says its card is not part of the policy terms and benefits. Compare the cover first, then read the offer's terms.

Is a gift card still paid if I cancel?

Not under two of the sets of terms above. Legal & General's card depends on your not having cancelled within six months of the start date, and Santander's cashback needs a policy that "hasn’t been cancelled" after 280 days. Our page on cancelling life insurance covers the policy side.

Are the best life insurance deals the ones with offers?

An offer tells you nothing about whether the price or the cover is right. Compare the same amount and length of cover across insurers first; an incentive, if there is one, comes after that.

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