Paying ₹5L HDFC Life Premium via Amazon Pay – Anyone Tried This?

[vaibhav111vaibhav111 is verified member.]

Hi everyone,


I have a life insurance premium of ₹5,11,250 (HDFC Life) due in 8 days, and I’m exploring the best way to make the payment for maximum rewards.


🔹 Plan I’m Considering:

• Use Amazon Pay option (supported by HDFC Life).
• To fund ₹5L, I’d need to buy 50 × ₹10,000 Amazon Pay Gift Cards (from amazon.in will buy 4L amazon pay using amex plat travel and 20k from mrcc and rest infinia)
• Expected savings: ~₹4,790 + card rewards. (hdfc life charges between 0.75% to 0.85%)
• For cards:
  • Amex Platinum Travel → No base RPs, but counts for milestone but if i buy amazon gv then 8000 MR Point extra on top of 40,000 MR Points and 10,000 Taj voucher
  • Amex MRCC → Could get ~2,000 MR points if I put ₹20k through.
  • HDFC Infinia → Rest i can put on infinia if needed.

🔹 Concerns I Have:

• Has anyone here successfully purchased ₹5L worth of Amazon GVs in one go (50 transactions)? i will buy 50-70k thousand of amazon pay each day is that issue i should i brought earlier though.
• Is there any Amazon account freeze risk for such large GV purchases?
• Any issues with Amex flagging/blocking due to back-to-back GV transactions?
• How smooth is the Amazon Pay → HDFC Life payment flow for such large premiums? Any delays/refunds?
• Would it be safer to split across cards (e.g. ₹20k MRCC, milestone via Amex Plat, rest via Infinia) instead of going all-in on Amazon Pay?

Basically, I’m trying to balance reward maximization with execution risk. Never attempted such a big txn via Amazon Pay before, so would love to hear your experiences and suggestions. 🙏

Pay Premium Online - Life Insurance Premium Payment Options | HDFC Life

We offer convenient methods to pay insurance premiums online, like quick pay, self-help, & auto-debit, especially for those who tend to forget their due dates.

www.hdfclife.com

 

[Sobirvs]

This trxn really is too huge to take risk with apay.

Afaik apay won't even let you pay this much.

Also your balance can't go above 1/2L anyways in a month in apay.

If you pay directly, hdfc won't let you split payments (if they let you split, then you can add apay gv in multiple acc's and then do it , it's possible)

Also, the best option is, if you have purchased your policy thru policybazaar, then yes, it's possible, talk to agent, they can take permission for split payments and then u can pay via apay.

If you use infinia, then there is a cap on points/month (10k/month).

First thing should be to see if the payment can be split by hdfc themselves. Afaik they won't do it, but if they do, then it's gonna be amazing to see as then I can do it myself too as I pay 3L/yr in feb every yr lol.

HDFC can split in one basis if you pay quaterly/monthly/semi annually but then if they do this, that will increase the premium too.

 

[NikTravelEnthusiast]

Have you thought of Changing premium frequency to Quarterly. I guess, we can change before 7 days of premium renewal. Such way you can split payment and plan to stack up Apay properly and pay later.
PS. My yearly premioum of all my combined insurence come around 3 lacs. I have changed all my insurance premium frequncy quarterly. Such way I can easly pay via Apay.

 

[HumorSimpson]

BTW 5L premium seems high. Is it for entire family ?

 

[Sobirvs]

BTW 5L premium seems high. Is it for entire family ?

prob life insurance with return on investment scheme. This can be for one person.

Have you thought of Changing premium frequency to Quarterly. I guess, we can change before 7 days of premium renewal.

yes this is possible, but then doesn't premium amount increases if you change quarterly?

 

[hellowo₹ld]

Hi everyone,


I have a life insurance premium of ₹5,11,250 (HDFC Life) due in 8 days, and I’m exploring the best way to make the payment for maximum rewards.


🔹 Plan I’m Considering:

• Use Amazon Pay option (supported by HDFC Life).
• To fund ₹5L, I’d need to buy 50 × ₹10,000 Amazon Pay Gift Cards (from amazon.in will buy 4L amazon pay using amex plat travel and 20k from mrcc and rest infinia)
• Expected savings: ~₹4,790 + card rewards. (hdfc life charges between 0.75% to 0.85%)
• For cards:
  • Amex Platinum Travel → No base RPs, but counts for milestone but if i buy amazon gv then 8000 MR Point extra on top of 40,000 MR Points and 10,000 Taj voucher
  • Amex MRCC → Could get ~2,000 MR points if I put ₹20k through.
  • HDFC Infinia → Rest i can put on infinia if needed.

🔹 Concerns I Have:

• Has anyone here successfully purchased ₹5L worth of Amazon GVs in one go (50 transactions)? i will buy 50-70k thousand of amazon pay each day is that issue i should i brought earlier though.
• Is there any Amazon account freeze risk for such large GV purchases?
• Any issues with Amex flagging/blocking due to back-to-back GV transactions?
• How smooth is the Amazon Pay → HDFC Life payment flow for such large premiums? Any delays/refunds?
• Would it be safer to split across cards (e.g. ₹20k MRCC, milestone via Amex Plat, rest via Infinia) instead of going all-in on Amazon Pay?

Basically, I’m trying to balance reward maximization with execution risk. Never attempted such a big txn via Amazon Pay before, so would love to hear your experiences and suggestions. 🙏

Pay Premium Online - Life Insurance Premium Payment Options | HDFC Life

We offer convenient methods to pay insurance premiums online, like quick pay, self-help, & auto-debit, especially for those who tend to forget their due dates.

www.hdfclife.com

amazon not even allowing for 50k payment, 5L means huge risk and u are unnecessarily locking balance in the form of amazn gift cards. I suggest use platinum travel and try to pay normally.

 

[quino]

Also your balance can't go above 1/2L anyways in a month in apay.

that's the wallet. he's talking about gift card balance.

BTW 5L premium seems high. Is it for entire family ?

investment wala scheme hai. for idfc private he did last year.

• Is there any Amazon account freeze risk for such large GV purchases?

purchase is not the issue here. ask amazon customer service if they allow ~5L balance in gift cards. and if they allow a txn with that much amount to debit from gift card balance.

 

[Sobirvs]

that's the wallet. he's talking about gift card balance.

true. But I have heard sometimes even adding gv have limits. tagging @ritziveer for more information.

 

[Shroud]

My simple advice: DON’T
Why you may ask? Bcoz Apay has a shadow limit of adding 2L Apay in a month (though nowhere officially mentioned) but once you try adding after 2-2.5L, you’ll be hit with it and you’ll be stuck with lots of Apay in ur account.
Instead use any of your CC or as other people mentioned, get your premium payment frequency changed.

 

[SSV]

Hi everyone,


I have a life insurance premium of ₹5,11,250 (HDFC Life) due in 8 days, and I’m exploring the best way to make the payment for maximum rewards.


🔹 Plan I’m Considering:

• Use Amazon Pay option (supported by HDFC Life).
• To fund ₹5L, I’d need to buy 50 × ₹10,000 Amazon Pay Gift Cards (from amazon.in will buy 4L amazon pay using amex plat travel and 20k from mrcc and rest infinia)
• Expected savings: ~₹4,790 + card rewards. (hdfc life charges between 0.75% to 0.85%)
• For cards:
  • Amex Platinum Travel → No base RPs, but counts for milestone but if i buy amazon gv then 8000 MR Point extra on top of 40,000 MR Points and 10,000 Taj voucher
  • Amex MRCC → Could get ~2,000 MR points if I put ₹20k through.
  • HDFC Infinia → Rest i can put on infinia if needed.

🔹 Concerns I Have:

• Has anyone here successfully purchased ₹5L worth of Amazon GVs in one go (50 transactions)? i will buy 50-70k thousand of amazon pay each day is that issue i should i brought earlier though.
• Is there any Amazon account freeze risk for such large GV purchases?
• Any issues with Amex flagging/blocking due to back-to-back GV transactions?
• How smooth is the Amazon Pay → HDFC Life payment flow for such large premiums? Any delays/refunds?
• Would it be safer to split across cards (e.g. ₹20k MRCC, milestone via Amex Plat, rest via Infinia) instead of going all-in on Amazon Pay?

Basically, I’m trying to balance reward maximization with execution risk. Never attempted such a big txn via Amazon Pay before, so would love to hear your experiences and suggestions. 🙏

Pay Premium Online - Life Insurance Premium Payment Options | HDFC Life

We offer convenient methods to pay insurance premiums online, like quick pay, self-help, & auto-debit, especially for those who tend to forget their due dates.

www.hdfclife.com

View attachment 108199

I hope you had gone through this thread..
There are restrictions apply..

Thread 'Amazon pay balance changes - Category based restrictions' https://www.technofino.in/community...ce-changes-category-based-restrictions.41587/

 

[NikTravelEnthusiast]

yes this is possible, but then doesn't premium amount increases if you change quarterly?

Yes. It does increase. But I am trading for reward points that I earn. Fir me it's ok to pay little extra .

 

[vaibhav111vaibhav111 is verified member.]

This trxn really is too huge to take risk with apay.

Afaik apay won't even let you pay this much.

Also your balance can't go above 1/2L anyways in a month in apay.

If you pay directly, hdfc won't let you split payments (if they let you split, then you can add apay gv in multiple acc's and then do it , it's possible)

Also, the best option is, if you have purchased your policy thru policybazaar, then yes, it's possible, talk to agent, they can take permission for split payments and then u can pay via apay.

If you use infinia, then there is a cap on points/month (10k/month).

First thing should be to see if the payment can be split by hdfc themselves. Afaik they won't do it, but if they do, then it's gonna be amazing to see as then I can do it myself too as I pay 3L/yr in feb every yr lol.

HDFC can split in one basis if you pay quaterly/monthly/semi annually but then if they do this, that will increase the premium too.

Yeah i can't split the payment that true, so my only option is paying through amex plat travel then.

 

[vaibhav111vaibhav111 is verified member.]

BTW 5L premium seems high. Is it for entire family ?

So just for me.

 

[vaibhav111vaibhav111 is verified member.]

My simple advice: DON’T
Why you may ask? Bcoz Apay has a shadow limit of adding 2L Apay in a month (though nowhere officially mentioned) but once you try adding after 2-2.5L, you’ll be hit with it and you’ll be stuck with lots of Apay in ur account.
Instead use any of your CC or as other people mentioned, get your premium payment frequency changed.

I didn't knew we can't load after certain amount cause i havent exceed more than 30 to 70k in a month that too in 2023/2024. So yeah i wanted opinion of other cause i was already locked in using amex plat travel but loosing 8k base mr i was like let c, if someone have better understanding on this.

 

[vaibhav111vaibhav111 is verified member.]

I hope you had gone through this thread..
There are restrictions apply..

Thread 'Amazon pay balance changes - Category based restrictions' https://www.technofino.in/community...ce-changes-category-based-restrictions.41587/

Yeah i knew since i had every small balance it didn't showed any error, 5L is huge amount i wouldn't have risked loading 5L amazon pay voucher so was hesitate to ask also cause this restrictions is there but wanted to ask either way.

 

[vaibhav111vaibhav111 is verified member.]

Have you thought of Changing premium frequency to Quarterly. I guess, we can change before 7 days of premium renewal. Such way you can split payment and plan to stack up Apay properly and pay later.
PS. My yearly premioum of all my combined insurence come around 3 lacs. I have changed all my insurance premium frequncy quarterly. Such way I can easly pay via Apay.

Earlier I wasn't into quarterly frequency but i will definitely take a look if it make sense. Thanks bro for the suggestion.

 

[iamdhamo]

Have you thought of Changing premium frequency to Quarterly. I guess, we can change before 7 days of premium renewal. Such way you can split payment and plan to stack up Apay properly and pay later.
PS. My yearly premioum of all my combined insurence come around 3 lacs. I have changed all my insurance premium frequncy quarterly. Such way I can easly pay via Apay.

Yearly premium cost willl be less than quarterly and this offsets gain from apay if it's only 5% via CB card

 

[dk619]

Not sure if someone else has mentioned already.
Not a CC tip, but this will save you some money.

Insurance GST is about to change, change your payment frequency to monthly or quarterly. You can save on GST a lot once new GST reforms are announced.

 

[Sobirvs]

Not sure if someone else has mentioned already.
Not a CC tip, but this will save you some money.

Insurance GST is about to change, change your payment frequency to monthly or quarterly. You can save on GST a lot once new GST reforms are announced.

True, btw I wonder something, let's say someone pays today for a premium and gst goes away next month, can we ask refund of gst on pro rata basis to a company?

 

[dk619]

True, btw I wonder something, let's say someone pays today for a premium and gst goes away next month, can we ask refund of gst on pro rata basis to a company?

I doubt government will have provision to return already paid tax.