Santander has notified customers they could see up to £150 paid directly into their bank accounts. The high street lender sent out emails detailing who qualifies and whether recipients will obtain £100 or the full £150 when certain criteria are fulfilled.
Eligibility and Cashback Amounts
According to the emails, new life insurance policyholders will receive £100 cashback. However, Santander mortgage customers, Select members, or those holding a current account from the Santander Edge selection will qualify for £150. The cashback is deposited directly into the account without needing a claim.
Santander stated that once a policy is established, monthly payments will stay unchanged. The life insurance is supplied through Aviva, Britain's biggest insurer, which announced that 99.8% of Aviva life insurance claims were paid out in 2024.
Terms and Conditions
Santander pointed out that terms and conditions apply, and the offer may be discontinued at any time. Cashback is added to the account 280 days after policy activation, assuming it stays in force. The cashback is restricted to one payment per customer and relates to a single policy exclusively.
Part of the emails reads: "You've got a lot on your plate - work, family, life. But some things are worth taking a moment for. With Santander life insurance, protecting your loved ones is simple. You can get a quote online in just a few minutes."
Santander stressed that quotes can be obtained online in minutes.
