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.

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 customers
3% cashback for first $5,000 spend
$80 + $120 CapitaVouchers with just $500 min spending

Existing cardholders
$40 CapitaVouchers

Rewards

  • 1.5% / 3% cashback

Alternatives:

Maybank Platinum Visa

New to bank
$30 via PayNow and $100 cashback (spend $250/mth for 2 months)

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 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 sethisfy20 at your payment page as a new user to enjoy $20 off the fee.

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