Cashback Cards To Use for Insurance Premiums
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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):
Safest: GrabPay MasterCard
If your insurer doesn’t take Amex, you can top up your Grab wallet, then use GrabPay MasterCard to pay for your insurance premiums.
Amex
True Cashback
New to Amex
Receive*
3% cashback on first $5,000 of spend (Grab top ups get 1.5% instead)
Rewards
- 1.5% / 3% cashback
Alternatives:
Maybank
Platinum
⚠️ Please remember to refer to Application Steps and complete all requirements
🔥 👍🏼
New to Maybank Customers
First 5,000 applicants: apply for both an eligible Maybank Credit Card and a CreditAble Account, make a min spend of S$600 per month for 2 consecutive months, and receive:
- A pair of American Tourister Linex 66/24 Luggage TSA; or
- AirPods (3rd generation) with Lightning Charging Case; or
- S$200 cash credit
Note that you need to apply for the CreditAble account, although you do not need to use it.
Application Steps
- Sign up here
- Note down the Application Reference number (at the end of Application, starts with REF-XXXXXXX)
- Fill up this Google form
Please view the terms and conditions here and save a copy for your reference.
Spend S$300, S$1,000, or S$2,000* per month for a quarter and get S$30, S$100, or S$200* cashback! That is 3.33% and it works for Cardup and ipaymy.
*S$2,000 tier from 1st October 2023 onwards
Rewards
- 3.33% cashback
Conditions
- Spend $300/$1,000 every month for three months to get $30/$100 every quarter (3.33%)
Rewards
- 1.5% / 3%
Conditions
- 3% cashback for new customers (first $5,000 in first 6 months)
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 the services below. 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.
CardUp
New to CardUp
Use promo code SETHISFY: get $30 off the fee on your first payment! That’s a transaction of around S$1,150 for free!
New and existing users
Use promo code SETHTAX23: get a discounted 1.75% fees on one-off or recurring income tax, Visa only
ipaymy
New to ipaymy
Sign up here to get $30 off the fee on your first payment! That’s a transaction of around S$1,330 for free!
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