Cashback Cards To Use for Insurance Premiums

Insurance premiums are a commonly excluded item in most credit cards’ terms and conditions for rewards. Nevertheless, there are still a few rare cards that give rewards for paying premiums, and also some workarounds to get cashback and miles out of our insurance policies. Here are some cashback options.

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For policies that directly accept cards

Most policies accept credit cards for the initial premium. Some may not accept it for renewal premiums. If your policy allows you to pay directly with a card, here are some options to get cashback (as card terms are constantly changing, please check the terms and conditions of your card before proceeding):

Policies that accept cards directly

Maybank Platinum Visa

New to bank
$30 via Paynow + $100 Cashback


  • 3.33% cashback


  • Spend $300/$1,000 every month for three months to get $30/$100 every quarter (3.33%)

Note that HSBC is revising their terms to exclude insurance from 1st July 2020.

HSBC Advance

New to bank
$150 cashback or Samsonite Luggage

Existing customers
$30 cashback


  • 1.5% / 2.5% cashback
  • Additional 1% for HSBC Advance customers


  • 1.5% for spending ≤$2,000
  • 2.5% for spending >$2,000
  • + 1% for HSBC Advance Customers
  • Capped at $70 ($125 for HSBC Advance customers)

Amex True Cashback

New to bank
3% cashback for first $5,000 in first 6 months


  • 1.5% / 3%


  • 3% cashback for new customers (first $5,000 in first 6 months)

GrabPay MasterCard

Our favourite GrabPay MasterCard also allows us to work around the insurance exclusions of a few cards, or if your insurer doesn’t accept Amex.


New to bank
Jabra Elite Active 75T Wireless Earbuds (worth $318) + $20

Existing cardholders
$50 Grab Vouchers


  • 2%


  • Capped at $60

Amex True Cashback card also works with GrabPay MasterCard, and HSBC Advance has been reported to give cashback on Grab top-ups as well.

For policies that don’t accept credit cards

Many policies, unfortunately, do not accept credit cards. You can still use your card for this, thanks to ipaymy. You need to pay a fee, but it’s worth it to get some cashback if you use an appropriate card. Read my article for more information; it’s on income tax, but the same applies for insurance premiums. Remember to use sethisfy at your payment page to enjoy a reduced fee.

Keep up to date on the best cashback/mile cards, savings accounts, attractive deals, and more tips to maximise your financial wellbeing by subscribing to my Telegram channel. You can also ask questions in the chat!

Want easy money? Check out July’s promos here!

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