Credit Cards For Paying Insurance Premiums (2021)
Please find the most up to date article here.
Insurance is one of the bigger recurring expenses we have, and it’s only natural to want to get rewards from paying for the premiums. Unfortunately, credit cards tend to exclude these transactions and you often get nothing for using your card. Here are some ways for you to get card rewards for paying your insurance policies.
If your policy accepts card payment directly
These Amex Cards + GrabPay Mastercard
American Express True Cashback
New Cardholders, choose 1:
- S$120 Shopee Vouchers
- 4 × Apple AirTags (retailing S$149)
Plus: upsized 3% cashback capped at first S$5,000 spend within 6 months from card approval
Spend at least S$500 within first 30 days of card approval. Make sure to fill up SingSaver Rewards Redemption Form.
Latest date to apply: 30th June 2025
1.5% cashback on transactions except Grab top-ups
The Amex True Cashback has been the permissive card of choice to pay for insurance premiums. The recently launched UOB Absolute Cashback Card joins it as a nearly identical clone, except for a higher 1.7% earn rate.
Both cards are American Express cards which very few insurers accept. Fortunately, this can be sidestepped by first topping up your GrabPay Card with these cards for the cashback, then spending with your GrabPay Card.
Friz
Friz is a prepaid card that gives instant 1.75% cashback on anything that isn’t AXS or e-wallet top up transactions.
| 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
Platinum
⚠️ Please remember to refer to Application Steps and complete all requirements
🔥 👍🏼
| New Cardholders |
| Samsonite ENOW Spinner 69/25 Luggage¹ |
Steps
- Apply for the card
- Please fill up this Google form
- Make S$1,300 in qualifying spend in the first 2 months from card approval
- Maybank will send an SMS about a week after conditions are met
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
Horizon
🔥 👍🏼
| New Cardholders |
| Samsonite ENOW Spinner 69/25 Luggage¹ |
Steps
- Apply for the card
- Please fill up this Google form
- Make S$1,300 in qualifying spend in the first 2 months from card approval
- Maybank will send an SMS about a week after conditions are met
Earn up to 2.8 miles per dollar for foreign currency and air tickets spend. Earn 1.2 miles per dollar on restaurant dining, petrol stations, public transport etc.
Maybank
Visa Infinite
Maybank is one rare bank that has yet to exclude insurance premiums from earning cashback/miles on all of its cards.
For cashback, Maybank Platinum Visa gives you an earn rate of 3.33% per quarter. You are required to meet the minimum spend of $300 or $1,000 per month for the three months within the quarter.
Maybank Visa Infinite gives 1.2 mpd on insurance premiums (up to $3,000 a month). However, its $150,000 annual income requirement and the $600 annual fee (waived for the first year) make it a little out of reach for many. The Maybank Horizon Visa, on the other hand, is more mass market with the standard $30,000 income requirement. Alas, it gives a paltry 0.4 mpd for insurance premiums.
If your policy does not accept card payment directly
Many insurers and policies do not accept cards. That’s not going to stop highly motivated rewards chasers like us, clearly. Simply use payment services like CardUp and ipaymy to make such non-card payments with your card! You pay a service fee for this, though it pays off if you can get rewards greater than the service fee. Read this for more info; it applies to insurance as it does for income tax.
CardUp
Pay for things that don’t accept credit cards and earn points or cashback. See the guide here.
🎁 New Users
Use code SETHISFY for reduced fee of 2.3% on the first personal payment¹ (up to S$5,000)
⚠️ Terms and Conditions
For reference only; refer to exact details in terms and conditions
ipaymy
Pay for things that don’t accept credit cards and earn points or cashback. See the guide here.
🎁 New Users
Sign up here for S$30 off transaction fee for your first payment!
⚠️ Notes
After signing up with the link, an email will be sent to you with the code.
For reference only; refer to exact details in terms and conditions
Seth Wee was a licensed financial adviser representative from 2009 to 2025, with over 16 years of experience in Singapore’s financial advisory industry.
He started Sethisfy.com in 2019 to share practical insights on credit cards, banking products, and miles strategies, helping readers identify financial products that deliver the best value. Seth has been featured in CNA, Channel 8, Today, and a host of other publications. In 2025, he was also part of a panel at CPF’s Ready For Life festival.
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