Nationwide issues 'you could receive £75' alert to customers

The building society has contacted all of its members with the urgent message

Nationwide has informed its banking customers that they could each "receive £75". The world's largest building society sent out emails to its members on Wednesday, with a message encouraging them to "protect your loved ones and receive £75".

The content of the communication highlighted the benefits of life insurance as a way to ensure the financial security of one’s family. An excerpt from the email stated: "We all want to protect the life we have built for our loved ones.

"Life insurance is one way you can help keep your family financially secure, even if something unexpected were to happen to you. And if you take out a new life insurance policy through us online, you will be able to claim a £75 M&S Gift Card or £75 Amazon.co.uk Gift Card."

Nationwide highlighted its partnership with a "trusted partner" for providing life insurance, noting the customizable level of cover and duration.

It invited customers to "You choose the level of cover and how long you would like the cover to last. You can also add optional Critical Illness Cover at an extra cost. Get a quote online in two minutes, and you could be covered in just 20 minutes."

Moreover, the bank underlined the sentiment behind the initiative: "It's about looking after those that matter the most to you. By taking out life insurance, you can help keep your loved ones financially supported, even if the worst were to happen to you. It pays out a cash lump sum to your family if you die during the time you are covered, helping them with things such as day-to-day living costs," reports the Express.

Customers are eligible to claim the gift card after their policy has been active for six months, provided all payments are up to date. Nationwide says that its life insurance offering has received a five-star Defaqto rating.

They added a cautionary note: "As with all insurance products, terms, limits and exclusions may apply."

They also advise customers: "Read the Policy Summary to make sure you have the right cover for you. And just so you know, life insurance is not a savings or investment product – it will only pay out if a valid claim is made."