High street banking giant Santander is encouraging its customers to secure their family's future with a generous cashback incentive. The bank is offering a payment of up to £150 directly into customers' accounts for taking out a new life insurance policy.
How the Santander Cashback Offer Works
Santander has emailed eligible customers, urging them to ensure they have adequate cover. The promotion provides £100 cashback with any new life insurance policy. However, Santander mortgage holders, Select account customers, and those with a current account from the Santander Edge range receive an enhanced sum of £150 cashback.
The process is designed to be straightforward. Customers can get a quote online within minutes, and the cashback is paid automatically. The payment is made 280 days after the policy starts, provided it hasn't been cancelled. This is a one-time offer, limited to a single policy per customer.
Policy Details and Provider Information
The life insurance policies are provided, administered, and underwritten by Aviva Life & Pensions UK Limited, the UK's largest insurer. Santander highlights that Aviva paid out 98.8% of life insurance claims in 2024.
A key feature of the policy is that monthly payments will not increase once the cover is in place. Customers interested in the offer can get a quote online or by calling 0800 085 0540. Santander notes that calls to this number are generally free from landlines, but charges may apply depending on the phone provider.
A Competitive Move in UK Banking
This promotional push from Santander comes as it competes with other major UK banks like HSBC UK, NatWest, Nationwide, and Lloyds. The offer is positioned as a simple way for people with busy lives to make a smart move for their family's financial security. Santander reserves the right to withdraw the offer at any time, and standard terms and conditions apply.
