Much like banks offering incentives for you to switch your current account, firms offering life insurance also try to set themselves apart with offers that might give them the edge over their competitors.
While it's not the best idea to make a decision on a life insurance policy based solely on the perks it offers, it's still worth knowing what's out there when weighing up which provider suits you best.
Here, Which? takes a look at the perks on offer from some of the main life insurance providers to see how they compare, as well as explaining the other factors to take into account if you're considering taking out a policy.
What is life insurance?
A life insurance policy is a financial product that pays out if the insured person dies while the policy is in place.
Often, you'll pay a monthly fee in order to maintain the policy, the price of which will vary depending on your age, lifestyle and health factors.
Term life insurance provides a cash lump sum for your family if you die within a set period of time. For example, some people may choose to take out a type of term insurance in order to support their family to pay off a large debt, such as your mortgage, if they die.
Find out moreWhat life insurance policy perks can you get?
While your life insurance agreement is in place to help support your family once you've gone, perks like gift cards, health insurance, access to a GP 24/7, cinema tickets or coffee mean you can benefit from it, too.
We took a look at some of the biggest UK life insurance providers to see what incentives are on offer, and how you receive them.
Direct Line
Direct Line life insurance is underwritten by AIG Life UK, which has 1.2 million customers.
How much does it cost?What perks are on offer?All customers can get a gift card worth up to £180, along with access to several healthcare-based services.
You'll get access to Smart Health, a healthcare app that provides 24/7 access to a UK-based GP, a second medical opinion from Best Doctors, mental health support, a nutritionist consultation and a four or eight-week personal fitness programme.
How do you receive your perks?Your gift card will be sent to you once you have made monthly payments for six months. Depending on your premium, you will receive up to £180 that can be used at many outlets, including Amazon and Marks & Spencer.
Smart Health is available via an app, online or by telephone, and is accessible 24 hours a day, 365 days a year. You, your partner and children up to the age of 21 can use it from the first day of your policy.
Find out more:Vitality
Vitality offers life insurance policies to anyone aged 18-55, but a lot of its marketing and perks are aimed at people in their 20s and 30s.
How much does it cost?What perks are on offer?The healthier you are, the lower your premium - you can earn up to 40% off your premiums if you are active and lead a healthy lifestyle.
You can also get discounted gym memberships, spa breaks and coffee vouchers.
How do you receive your perks?Find out more:Legal and General
An established life insurance provider, Legal and General or L&G provider covers policies for those between 20 and 70-years-old.
How much does it cost?What perks are on offer?How do you receive your perks?The Wellbeing Support is included from the first day of your policy. It provides support from a dedicated nurse and can include information and advice, as well as clinic assessments.
You, your partner and your live-in children can access the service, and you do not need to make a claim in order to receive its support.
Scottish Widows
Scottish Widows has over 200 years of experience providing life insurance policies.
How much does it cost?What perks are on offer?How do you receive your perks?Your welcome pack will include all the information you need to access the Clinic in a Pocket service. Once you have registered, you will be able to receive all the help you need through the Clinic in a Pocket app available on all Android and Apple devices.
LV
Available for any UK resident aged 17 to 84, LV is a well-established life insurance provider.
How much does it cost? What perks are on offer?The LV=Doctor health app is provided by Square Health, where you have access to six different services; remote access to over 5,000 UK medical professionals, a second medical opinion, prescriptions, physiotherapy, support with mental health concerns and access to a health MOT.
How do you receive your perks?Your critical illness cover forms part of your life insurance policy and starts when your policy does.
Find out more:Are the perks worth it?
While these perks may seem attractive, you'll need to weigh up how much value you'll get from them with the cost of your premium based on your age, health and occupation.
It is important you shop around and find the best policy for you, regardless of the perks that come along with it. If you're not sure what suits your circumstances, it can be worth talking to a financial advisor before taking out any policy.
Do I need life insurance?
Everyone’s circumstances are unique and some people will not need life insurance. But if you have parents, partners or children that rely on your income, taking out a policy will ensure they are supported after you die.
Find out more:Which? Limited is registered in England and Wales to 2 Marylebone Road, London NW1 4DF, company number 00677665 and is an Introducer Appointed Representative of the following: 1. Inspop.com Ltd for the introduction of non-investment motor, home, travel and pet insurance products (FRN 610689). Inspop.com Ltd is authorised and regulated by the Financial Conduct Authority (FCA) to provide advice and arrange non-investment motor, home, travel and pet insurance products (FRN310635) and is registered in England and Wales to Greyfriars House, Greyfriars Road, Cardiff, South Wales, CF10 3AL, company number 03857130. Confused.com is a trading name of Inspop.com Ltd. 2. LifeSearch Partners Limited (FRN 656479), for the introduction of Pure Protection Contracts, who are authorised and regulated by the FCA to provide advice and arrange Pure Protection Contracts. LifeSearch Partners Ltd is registered in England and Wales to 3000a Parkway, Whiteley, Hampshire, PO15 7FX, company number 03412386. We do not make, nor do we seek to make, any recommendations on financial products or services that are regulated by the FCA, as we’re not regulated or authorised by the FCA to advise you in this way. In some cases, however, we have included links to regulated brands or providers with whom we have a commercial relationship and, if you choose to, you can buy a product from our commercial partners. If you go ahead and buy a product using our link, we will receive a commission to help fund our not-for-profit mission and our campaigns work as a champion for the UK consumer.
source https://www.which.co.uk/news/article/life-insurance-perks-are-they-worth-it-aXICz2I62vos