Something in return: How to earn cashback through life insurance

If you’re an astute shopper, you’ll know all about cashback websites. Free money in return for buying a new replacement washing machine, new school shoes for your little ones or even your groceries? Yes, please.

But did you know that you can earn cashback for financial products such as life insurance? While this should be navigated carefully to ensure you get the right policy for you, a cashback sum can really sweeten the deal.

Before we get to the free money opportunity, however, it’s important to consider what this policy is and why you need it. Getting life insurance is incredibly important if you want to ensure your loved ones are cared for financially in the event of your passing. What a policy does is leave your family with an amount of money that’s not eligible to be taxed after you’re gone. This insurance also covers your financial commitments, including any outstanding balances on your mortgage and any personal loans you have, including things such as payments you make on a vehicle.

In short, life insurance can offer invaluable peace of mind for both you and your loved ones so you can focus on the here and now.

When do people get life insurance?

There is no one specific time you are supposed to get life insurance and, in fact, there are a variety of scenarios in which people decide to purchase it. These include:

• Having financial commitments you wouldn’t like your loved ones to have to manage after you’re gone
• Buying a home and wanting to ensure your family have help to pay the mortgage in the event of your death
• Getting married and deciding getting life insurance is a good idea to ensure either partner is cared for should the worst happen
• Considering the cost of your funeral – if you don’t want your family to have to pay for this, life insurance might be a good option for you
• Thinking about inheritance and ensuring your family are sufficiently taken care of once you’re no longer around

If you want to earn cashback on life insurance deals, you’ll need to sign up with cashback sites. We’ve discovered that the two best on the market over a consistent period of time are Quidco and TopCashback.

Before you’ve signed up with these sites you can browse what deals they have across a range of categories including:

• Holidays
• Department stores
• Clothing
• Electronics
• Home and DIY
• Telecoms
• Finance
• Insurance

So whether you need a new television, car insurance or a fresh pair of jeans, you can earn money back on your purchases with these sites. (We’ve got more cashback content for you to read about here).

How can I be paid my cashback?

There are a variety of ways to receive your cashback through these websites – it’s actually all up to you how you decide to receive it. Options include:

• PayPal
• Straight to your bank account
• Gift cards for a range of retailers

Now you know how to get started, what’s available to you on these sites and how you’ll get paid, you’ll need to know which insurance providers you will be able to choose from.

Both Quidco and TopCashback have category pages for their life insurance offers, so you’ll be able to discover which insurers have free money deals.

These sites have similar insurers to select from, but you might notice differences between the cashback amounts so it’s worth checking both. These range from £100 to around £1000.

Quidco insurers and TopCashback insurers include:

• Beagle Street
• Aviva
• Royal London
• Confused.com
• Legal & General
• Virgin Money
• Post Office
• Co-op
• LV=
• SunLife
• DirectLine
• Golden Charter

Note: These details are ever-changing, including the insurers offering deals, so it’s always worth doing some research first.

Now you know how to navigate cashback sites, it’s important to note that the vital aspect of getting life insurance is to make sure those you love are looked after after you’re gone. So you should search for the best policies on the market and they might just come with a spot of cashback.

We understand that it might be tempting to opt for the life insurance deal with the highest cashback amount – free money is great, after all. However, it’s probably best to take a measured approach and ensure the policy you pay for offers you the best coverage possible for your situation.

Before you dive in head first, we’d advise you to:

• Search the market for all the deals available
• Note down what each policy does and doesn’t cover
• Note down what you’re entitled to
• Weigh up the pros and cons of each life insurance policy
• Work out which deal is best for you and your circumstances

With financial products, the potential cashback at the end of this process is the cherry on the cake. Receiving cashback after purchasing your life insurance deal is an amazing bonus.

You’re best placed to understand which policy is best for you when it comes to life insurance deals with cashback. We hope this guide has helped you understand where to look for cashback deals in general and also how to give yourself a bonus boost when buying life insurance.

If you’re savvy with your money and always seeking deals and ways to get ahead of the game, this site has a range of ways to help you along the way. Whether you’ve just bought your first home, have started a family or simply looking to steal a march by creating opportunities for extra cash, you can discover more about:

• Cash back offers
• Online surveys