Sainsbury's Bank has introduced a new insurance promotion under which five customers could win one million Nectar points each in a prize draw.

Selection of the winners will be done on a random basis out of those who buy or renew the bank’s insurance product between October 2 and November 30, 2007. The draw will happen in mid-December and will make five lucky customers ‘Nectar Millionaires’ in time for Christmas.

Nectar points can be used to purchase treats and experiences. In real terms, one million Nectar points equates to a significant prize. If just redeemed on flights alone to a single destination, one million Nectar points could buy either 50 return trips to New York, 25 return trips to Los Angeles, 15 return trips to Hawaii or nine return trips to Sydney.

Karen Preston, from Sainsbury’s Insurance, said: We are delighted to be supporting the Nectar re-launch and giving our customers the opportunity to win a significant reward. The beauty of Nectar is the wide range of treats customers can choose from, whether it’s a once in a life-time family holiday to Australia with GBP2,000 worth of spending money or a case of quality wine every week for a year.