The Post Office is giving customers up to £155 as part of a ‘winter warmer’ to help boost their finances at the start of the new year.
The offer comes after the Department for Work and Pensions (DWP) cut its Winter Fuel Payment, with new eligibility criteria seeing millions of state pensioners miss out on up to £300 financial support this winter.
The decision to change the payment from a universal benefit to one that is now means-tested was to ensure the support goes to those who need it most, but it means that some pensioners who are only just above the affordability threshold now miss out.
In response, the Post Office launched its own ‘winter warmer’ offer but customers have only two days left to take advantage.
The £155 offer is available to anyone who buys either Post Office Life Insurance or Post Office Over 50s Life Cover. Those who buy the Life Cover will receive £30 cashback as well as a gift card of up to £125 for either Tesco, M&S or Amazon as a ‘thank you’.
The Post Office says it launched the offer following a study which found UK households are terrible at life admin, with 30% saying a financial incentive would encourage them to get their affairs in order.
Writing wills and paying off credit card bills were among the key tasks households put off the most, but research found life insurance was the task people put off the most, taking the average person more than 10 months to sort out.
As such, the Post Office has launched a limited-time Winter Warmer initiative to help customers take the financial stress off as the new year life admin piles up, with the cash offer allowing them to contribute to their January heating or household bills, or just spend the money on themselves.
On top of the £30 Winter Warmer cashback, customers will also be eligible for a £100 gift card if they buy Life Insurance or £125 gift card if they buy an Over 50s Life Cover policy, as an additional boost. But the offer is only valid until January 31, 2025, so customers will have to be quick to snap up the deal.
Paul Paddock, director of Pricing and Protection Products at Post Office, said: “Although buying life insurance may seem daunting, or others may be asking themselves ‘why do I need life insurance?’, the benefits of life insurance and getting it ticked off your list include peace of mind and financial security for your loved ones.
“With our new £30 Winter Warmer cashback offer, we hope that the added financial incentive will encourage people to get their cover sorted whilst also giving them a helping hand to manage their household bills for the winter months. So, if you’re wondering ‘when should I get life insurance’, there’s no better time than now.”
