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Insurance premium payment

tusar021

TF Buzz
Hi Technofino Community.
Every year I have paid more than 2 lakh as a insurance premium so which card is beneficial for me ?
 
Amazon pay card offers 2% cashback when you pay insurance through Amazon but last month I paid rs 36030 LIC payment and received 1440 cash back i.e 4%
 
Cards with higher reward rate of 3.3%+ like Infinia and SC ultimate? are they better or they have clause of giving less/no rewards on insurance payments?
 
Amazon pay card offers 2% cashback when you pay insurance through Amazon but last month I paid rs 36030 LIC payment and received 1440 cash back i.e 4%
AmazonPay cashback is sometimes not consistent. I too once got 5% for Amazon gift card purchase, next month it's back to 2%
 
Hi Technofino Community.
Every year I have paid more than 2 lakh as a insurance premium so which card is beneficial for me ?
I paid my annual premium of ~80k through SBI Cashback Credit Card on Amazon Pay. Earned flat 5% CB!!
P.S. I bought 10k Amazon GV and paid rest through the CC, so the technically it showed as online payment(and not insurance premium payment) on SBI CC!
Hope this information helps you :⁠-⁠)
 
I paid my annual premium of ~80k through SBI Cashback Credit Card on Amazon Pay. Earned flat 5% CB!!
P.S. I bought 10k Amazon GV and paid rest through the CC, so the technically it showed as online payment(and not insurance premium payment) on SBI CC!
Hope this information helps you :⁠-⁠)
Can you please elaborate? 5% on 10K Amazon GV is INR 500, rest you paid via CC, how come that is showing as online payment?
 
Can you please elaborate? 5% on 10K Amazon GV is INR 500, rest you paid via CC, how come that is showing as online payment?
He bought a voucher separately and received 5% cashback on the remaining 70K payment.

Paying it all together might have marked the entry as Insurance payment but splitting changed the category to online spends.
(This does not always happen so be wary and there are times when even full payments might get the cashback while at times, you could get zero cashback. Read and follow such guides at your own risk because neither SBI nor Amazon will help you if you get stuck with no cashback.)
 
Can you please elaborate? 5% on 10K Amazon GV is INR 500, rest you paid via CC, how come that is showing as online payment?
I posted this information for last year's(2022) insurance payment which for me happens in Nov-Dec.
Till last year(2022) SBI Cashback CC gave 5% CB on insurance payment as it was in its initial phase of launch. Amazon also had an option to buy GV through credit card. So insurance payment with 5% cb was straight forward.

But both options have gone out of window 2023 onwards. So now buying Amazon gv through 3rd party app with cashback card is the only option but it has lot of hassles & bit risky too.

If you want to know about the 3rd party thing, contact @Abhishek012. He was very helpful to me with it.

Any further queries, I will be glad to help.
 
Hi Technofino Community.
Every year I have paid more than 2 lakh as a insurance premium so which card is beneficial for me ?
Tata neu infinity gives 5% CB as neu coins on insurance payment through Tata neu app. Limit upto 40k/day.

Less hassle than loading Amazon with gift vouchers

Update : there's also another limit of 25k/transaction for using Tata neu card
 
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But both options have gone out of window 2023 onwards. So now buying Amazon gv through 3rd party app with cashback card is the only option but it has lot of hassles & bit risky too.

Any further queries, I will be glad to help.
Who has confirmed that SBI CB did not give 5% cashback for Amazon GV purchase on Amazon?
 
Tata neu infinity gives 5% CB as neu coins on insurance payment through Tata neu app. Limit upto 40k/day.

Less hassle than loading Amazon with gift vouchers
Agreed. But people who do not have infinity and/or premium >40k{both in my case} have to find other ways!!
 
Is there a limit on the amount that can be paid via Amazon Pay Balance for insurance premiums?

I have 3 insurance premiums totaling 75k, and I paid 31k using amazon pay balance for one of them and it went through. Other amounts are 25k and 21k. Is there a monthly limit ?
 
Is there a limit on the amount that can be paid via Amazon Pay Balance for insurance premiums?

I have 3 insurance premiums totaling 75k, and I paid 31k using amazon pay balance for one of them and it went through. Other amounts are 25k and 21k. Is there a monthly limit ?
I have seen the limit for a single transaction to be less than 1 lakh. There's no mention of a monthly limit.

Should be fine in your case anyways
 
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You are believing on some news article but not on individual people experiences here....
Its not a news article but revised T&C by SBI on Cashback credit card. In the same lounge access earlier provided was also rescinded.
But I confess I haven't bought amazon gv with Cashback cc nor have I paid insurance premium after their revised t&c.
If you or anyone has got 5% cb even after revised conditions, do enlighten the community.
 
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