Santander has contacted many of its UK customers, informing them they could receive £100 cashback when they “help protect their tomorrow”.
In emails, the banking giant said: “We know life can get hectic, and taking care of everything on your to-do list can sometimes seem impossible.
“But, we’re here to help you take the first step towards lasting peace of mind.”
The messages explain that customers can secure £100 cashback with any new life insurance policy, with the funds credited automatically without needing to submit a claim.
Monthly premiums begin at £5, Santander noted, and there’s a wide range of coverage options available including family policies, over-50s plans, and critical illness protection. The financial institution added: “This offer could be withdrawn at any time.
“You’ll get your cashback 280 days after you’ve taken out a policy as long as you haven’t cancelled it. If your policy’s in joint names, only the first named policyholder will get the cashback. T&Cs apply.”
Additional details on Santander’s website clarify that new Santander life insurance customers will receive £100 cashback upon purchasing a new life insurance policy, while new and existing Santander mortgage, Private Banking, Select and current account holders from the Santander Edge current account range will be entitled to £150 cashback when purchasing a new life insurance policy.
Elsewhere, eligible banking customers who switch their current account to Santander could bag a £200 bonus.
The bank confirmed it will “transfer £200 into your eligible account within 90 days of your request to switch when you use the Current Account Switch Service [CASS].”
Additional requirements include completing the full switch within 60 days, depositing at least £1,500 into the account, and maintaining two active household Direct Debits.
Anyone who held a Santander current account on January 1, 2025, or has previously claimed a Santander switching incentive, will be ineligible for the bonus.
The offer may be withdrawn at any time. Terms and conditions apply.