Loopholes are what the Miles Mogul dreams of, and here is one of the best loopholes out there at the moment.
I have just done this myself, and would recommend anybody seriously collecting Avios to do the same.
What’s the deal?
Tesco are running a promotion at the moment giving a bonus of 3,500 Clubcard Points for taking out a life insurance policy.
These points can be freely converted into Avios. At the standard conversion rate they are worth 8,400 Avios (3,500 x 2.4), but Tesco often runs transfer bonuses, so if you wait for one of these to come along, you may get even more bang for your buck.
How much does it cost?
The policy costs £5 per month, and the points get posted after three months. You are then free to cancel the policy after making three monthly payments.
The total cost is therefore £15.
How do I sign up?
1. If you don’t already have a Tesco Clubcard account, sign up here for free.
2. Apply for the life insurance using this application form on the Tesco website.
3. When prompted, Input your Tesco Clubcard number and this promotional code: LIFE50PTSP1
4. Complete the application and input payment details.
5. Put it in your diary to cancel the policy in three months time.
6. Once the points have posted to your Tesco account, transfer them to Avios online immediately, or wait for a transfer bonus
7. You just short of a free return flight to Europe for your trouble!
8. You have until 21 May to apply.
This is an unmissable deal. You can effectively earn a free flight to Europe for £15 and 5 minutes of your time. (Not to mention your life is insured for the next three months!)
It is absolutely essential that you check out all the terms and conditions. Don’t take my word as gospel!
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