Cashback on Insurance Premiums! (Miles Too)

Credit cards are meant to encourage discretionary spending and make people more likely to make spontaneous purchases, so things like bills and insurance premiums tend to be excluded from credit card rewards. Nonetheless, it’s not impossible to get cashback and even some miles from paying for your insurance policies, and it’s something you should definitely do since any cashback you get is pure savings without any extra expenditure.
Some insurance policies accept credit cards directly, while others don’t. It’s possible to get rewards from either type of policies, so read on to find out how.
Up to 3% cashback with these two cards
Amex True Cashback and UOB Absolute Cashback are two cards that boldly declare no exclusions for practically anything you can pay for using these cards. That also includes insurance, provided your insurance policy accepts Amex as a payment method. It’s not a very common thing for insurers to accept Amex, so to get around this, you can use either the Amex True Cashback or UOB Absolute to top up your Grab for the cashback, then use your GrabPay Mastercard to pay for your policy.
There are some downsides to this, because GrabPay Mastercard has of limit of $5,000 per transaction, and a monthly limit of $10,000. It also has a $30,000 annual limit, so any insurance spend you make using your GrabPay Mastercard will reduce your limit for other expenditure you may have for your GrabPay Mastercard. You also don’t get Grab points for insurance payments, though you already have your cashback from the top-up.
Cards to top up Grab
Get 1.5% cashback on Grab top-ups with the Amex True Cashback Card.

Amex
True Cashback
New to Amex
Receive*
3% cashback on first $5,000 of spend (Grab top ups get 1.5% instead)
1.75% instant cashback with this prepaid wallet
Friz is a prepaid wallet that gives 1.75% instant cashback on anything that isn’t an AXS transaction or e-wallet top-up. This means that insurance (amongst other commonly excluded things) is fair game, and I have indeed received 1.75% cashback for paying an insurance policy.
Having instant cashback is pretty awesome too, particularly when most other cashback cards credit cashback as late as one to almost two months later.
Activity | Reward |
Sign up here and use code WEE-wjcM4C | – |
Spend S$500* or more (in one or multiple transactions); or Successfully apply for Friz credit line; or Get paid S$500 or more for invoices using Friz | S$20 |
Optional: make your first top up of at least $10 | S$5 |
Bonus: spend S$500* or more (in one or multiple transactions) | Stand a chance to win AirPods Max |
Maybank Cards
Maybank Visa Infinite, Maybank Horizon Visa, and Maybank Platinum Visa do not exclude insurance premiums from rewards.
Maybank Horizon Visa only gives 0.4 miles per dollar, so you’d be much better off ignoring this card. Maybank Visa Infinite gives a more respectable 1.2 mpd, but the annual income requirement of $150,000 makes the card inaccessible to many.
Maybank Platinum Visa gives 3.33% cashback when used optimally: $300 of spend per month for three months gets you $30, while $1,000 of spend per month for three months gets you $100. Any spend that deviates from these amount will decrease your cashback rate. For instance, spending $400 per month for three months still gets you $30, resulting in a 2.5% cashback rate instead.
Also, do take note that if you opt to pay your insurance premiums monthly rather than annually, most insurers increase the premiums by as much as 2 to 4%, so you might not be saving much by paying monthly to satisfy Maybank Platinum Visa’s conditions.

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

Maybank
Family and Friends
🔥 👍🏼
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.
Get 8% cashback on selected categories like groceries, telco, and more! Read the review here

Maybank
Barcelona
🔥 👍🏼
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.
1.6% unlimited Cashback with no minimum spend nor maximum cashback cap, even on education transactions!

Maybank
Horizon
🔥 👍🏼
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.
Earn up to 3.2 mpd for restaurant dining, petrol stations, public transport (including Grab and taxi rides with our selected taxi service providers), and hotel bookings at Agoda.com/horizon.
Other Maybank cards (same promo):
For policies that don’t accept credit cards directly
Many insurance policies don’t accept credit cards directly, but that wouldn’t stop rewards chasers like us. There are a few good ways to pay for your premiums and still get rewards:
GrabPay and AXS or PayNow
Once again, your Grab wallet comes in handy: many insurers accept payment via AXS, and GrabPay Mastercard can be used to pay AXS transactions. You don’t get Grab points on such transactions, but you do get cashback from topping up your Grab wallet with Amex True Cashback and UOB Absolute.
Grab wallet credits can also be used to pay PayNow QR UEN codes, so you are able to pay to insurers who accept payments via PayNow.
CardUp and ipaymy
CardUp and ipaymy are services that allow you to use your credit cards to pay for things that don’t accept credit cards. Read this article for more details on how they work.
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Using Friz to pay AXA insurance doesn’t work. Although credit card payment method is accepted, the system doesnt allow it. Maybe its because its debit card. 🙁
$ now stuck in Friz, thought of topping up grabpay wallet, also cannot. Any idea or other solutions?
Maybe you can check with AXA and Friz. I recently paid an insurance policy (but not AXA) and topped up Grab with Friz.
Have you tried topping up Big Pay?
Managed to leave an email for AXA to reply. I tried to top up Grabpay again, and it worked now. Strange. 🙂
Thanks for the quick reply and suggestion.