Please suggest CC for LIC premium payment of more than 3L/year

[thegame]

Hi all,

So far was happy with Axis ACE & Amazon ICICI credits for 2% cashback on insurance payments but now need to find a card which can give cashback or reward points for LIC insurance payment directly at LIC site.

Checked AMEX but to confirm is it none of their cards for personal use give any RPs for insurance payments?

https://www.americanexpress.com/content/dam/amex/en-in/benefits/rewards/membership-rewards/membership-rewards-terms.pdf

Please suggest cards that give either CB or RPs or take into account these insurance payments for milestone completion, don't need the premium ones like Axis Magnus as this CC payment or usage will be for just once in a year and rest of the months the max usage won't cross 50k except for Sep/Oct for FK BBD sales

 

[Lakshya Mahani]

Is there any capping on Tata Neu Infinity card for insurance payments( 5% neu coins)?

 

[logu]

Is there any capping on Tata Neu Infinity card for insurance payments( 5% neu coins)?

2000 coins per month

 

[thegame]

Is there any capping on Tata Neu Infinity card for insurance payments( 5% neu coins)?

2000 coins per month

also any bill payment in tata neu app above 20k doesn't allow CC option now

 

[Lakshya Mahani]

also any bill payment in tata neu app above 20k doesn't allow CC option now

Means i Can't pay insurance premium amounting to 54k via infinity card?
Edit- I just saw this link

https://www.hdfcbank.com/content/bbp/repositories/723fb80a-2dde-42a3-9793-7ae1be57c87f/?path=/Personal/Pay/Cards/Credit%20Card/Credit%20Card%20Landing%20Page/Credit%20Cards/TATA%20Neu%20Infinity%20HDFC%20Bank%20Credit%20Card/TATA_Neu_Infinity_Card_TnC.pdf

According to this, on page number 2 it is written that
The NeuCoins for Insurance Spends will be capped at 2,000 NeuCoins per day

 

[thegame]

Means i Can't pay insurance premium amounting to 54k via infinity card?
Edit- I just saw this link

https://www.hdfcbank.com/content/bbp/repositories/723fb80a-2dde-42a3-9793-7ae1be57c87f/?path=/Personal/Pay/Cards/Credit%20Card/Credit%20Card%20Landing%20Page/Credit%20Cards/TATA%20Neu%20Infinity%20HDFC%20Bank%20Credit%20Card/TATA_Neu_Infinity_Card_TnC.pdf

According to this, on page number 2 it is written that
The NeuCoins for Insurance Spends will be capped at 2,000 NeuCoins per day

2k per day limit for Insurance Spends and similarly on the last page you can see it for fair usage for Bill Payments where its mentioned as 50k spends but now when you try to pay any bill via Tata Neu app it doesn't show CC option itself if the amount is above 20k so can't use your Infinity card (HDFC have to update the T&Cs as if there is no CC option above 20k then it means the max neucoins will be 1000 (5%) only and 50k Bill Payments fair usage is actually 20k now)

Also I guess there is no neu coins for bill payments via NeuApp/NeuPass as they mentioned only 5% on bill payments via Infinity and 2% via Plus cards so in your case;

1) You can't use Infinity card in Tata Neu app as bill is above 20k (no CC option)
2) Due to the first point, there will be no neucoins via neupass/neuapp if you try to make payment via UPI/DC etc..

Only option I am going for is either buy Apay GV or pay using Apay CC at the insurer site for 1% CB (not sure when Amazon/ICICI are going to end this as well 😥)..

 

[CreditFreak]

2k per day limit for Insurance Spends and similarly on the last page you can see it for fair usage for Bill Payments where its mentioned as 50k spends but now when you try to pay any bill via Tata Neu app it doesn't show CC option itself if the amount is above 20k so can't use your Infinity card (HDFC have to update the T&Cs as if there is no CC option above 20k then it means the max neucoins will be 1000 (5%) only and 50k Bill Payments fair usage is actually 20k now)

Also I guess there is no neu coins for bill payments via NeuApp/NeuPass as they mentioned only 5% on bill payments via Infinity and 2% via Plus cards so in your case;

1) You can't use Infinity card in Tata Neu app as bill is above 20k (no CC option)
2) Due to the first point, there will be no neucoins via neupass/neuapp if you try to make payment via UPI/DC etc..

Only option I am going for is either buy Apay GV or pay using Apay CC at the insurer site for 1% CB (not sure when Amazon/ICICI are going to end this as well 😥)..

Bro, just buy amazon voucher at cheap price and pay the damn LIC bills. There is nothing better right now.
I am waiting for these money sucking LICs to end. Worst decision of me and my parents.

 

[CreditFreak]

2k per day limit for Insurance Spends and similarly on the last page you can see it for fair usage for Bill Payments where its mentioned as 50k spends but now when you try to pay any bill via Tata Neu app it doesn't show CC option itself if the amount is above 20k so can't use your Infinity card (HDFC have to update the T&Cs as if there is no CC option above 20k then it means the max neucoins will be 1000 (5%) only and 50k Bill Payments fair usage is actually 20k now)

Also I guess there is no neu coins for bill payments via NeuApp/NeuPass as they mentioned only 5% on bill payments via Infinity and 2% via Plus cards so in your case;

1) You can't use Infinity card in Tata Neu app as bill is above 20k (no CC option)
2) Due to the first point, there will be no neucoins via neupass/neuapp if you try to make payment via UPI/DC etc..

Only option I am going for is either buy Apay GV or pay using Apay CC at the insurer site for 1% CB (not sure when Amazon/ICICI are going to end this as well 😥)..

Thank me later

What is the best way to buy Amazon Pay Gift card

What is the best way to buy Amazon Pay Gift card? Which is the credit card and portal from where we can buy amazon pay gift card with some discount or cashback?

www.technofino.in

 

[thegame]

Bro, just buy amazon voucher at cheap price and pay the damn LIC bills. There is nothing better right now.
I am waiting for these money sucking LICs to end. Worst decision of me and my parents.

accumulating AGV for yearly payments less than 50k or even 1L payments in 5-6months time can be achieved but for bills like 2-3L you need to plan well in advance unless you are not converting them to quarterly payments as you mentioned before

 

[Nitin R]

Like many others, I too have LIC policy, and wanted an LIC cobranded credit card (Axis and/or IDBI). According to the LIC webpage (apparently there are two of them - "https://www.liccards.in/" and "https://www.liccards.co.in/"), they did mention that LIC policyholders can apply for LIC credit cards.
I made many rounds of the LIC local office (home branch on my policy) near my residence, and every time they will send me on a wild-goose chase to Axis Bank and IDBI Bank branches.

So, I did a lot of looking around on LIC CSL webpage and found this pdf document (https://liccards.in/document/1630160979.pdf) having names, contact numbers and emails of LIC CSL regional heads across India. The pdf file is attached with the post here.

I called up the LIC CSL head of my city (Hyderabad) - Mr. Srivittal, and told him the pathetic response I was getting. He was very humble and soft-spoken, and arranged for his team to help me apply for the LIC cards. He told me that Axis Bank card was an online process, and easier, while IDBI card would be old-school, and will take a month or so (assuming it is approved). I insisted on getting both, and he helped with that.
If you are in Hyderabad, please call him and give my reference (I got my card application process started in Dec 2022). I got my Axis LIC card by Dec last week, and my IDBI LIC card by Feb first week.

He also told me that he was finding it difficult to find customers for his card product, and was surprised to know that local LIC offices are turning down potential customers when I shared my experience. It seems that LIC, like other sarkari companies, are happy in their comfort zone; while LIC CSL - a new offshoot of same old company - is suffering due to this.

Also, dealing with any sarkari company is tedious and you need patience. If you are ready to put that effort, then LIC cobranded cards are good choice.

 

[harsh42s]

Like many others, I too have LIC policy, and wanted an LIC cobranded credit card (Axis and/or IDBI). According to their LIC webpage (apparently there are two of them - "https://www.liccards.in/" and "https://www.liccards.co.in/"). There they mention that LIC policyholders can apply for LIC credit cards.
I made many rounds of the LIC local office (home branch on my policy) near my residence, and every time they will send me on a wild-goose chase to Axis Bank and IDBI Bank branches.
So, I did a lot of looking around on LIC CSL webpage and found this pdf document (https://liccards.in/document/1630160979.pdf) having names, contact numbers and emails of LIC CSL regional heads across India. The pdf file is attached with the post here. I called up the LIC CSL head of my city (Hyderabad) Mr. Srivittal and told him the pathetic response I was getting. He was very humble and soft-spoken, and arranged for his team to help me apply for the LIC cards. He told me that Axis Bank card was an online process, and easier, while IDBI card would be old-school, and will take a month or so (assuming it is approved). I insisted on getting both, and he helped with both.
If you are in Hyderabad, please call him and give my reference (I got my card application process started in Dec 2022). I got my Axis LIC card by Dec last week, and my IDBI LIC card by Feb first week.
He also told me that he was finding it difficult to find customers for his card product, and was surprised to know that local LIC offices are turning down potential customers when I shared my experience. It seems that LIC, like other sarkari companies, are happy in their comfort zone; while LIC CSL - a new offshoot of same old company - is suffering due to this.

Also, dealing with any sarkari company is tedious and you need patience. If you are ready to put that effort, then LIC cobranded cards are good choice.

If I am not wrong - there is some minimum premium criteria for LIC card?

 

[Nitin R]

If I am not wrong - there is some minimum premium criteria for LIC card?

Yes, I don't remember exactly, but you need to have an annual premium payment of INR 20k (or INR 30k). One can always check with the regional head from the list shared in the original post.

 

[yashvijay]

based on their website info, for 1.9L you get 15k points and for 4L you get 25k points.. so first I need to spend 4L and for that say I have 3L insurance premium then need to spend 1L extra on it which would give 2k points (Rs 50 fetches 1RP so 2k RP for 1L) so overall would get 42k points for 4L spends which would be 10.5k (1RP = 0.25 cash) cash which is 2.62% but need to pay renewal fee of 5k+GST assuming joining fee as free or tallied by joining offers so final CB rate would be around 1.15% - please correct me if I am wrong..

Also its more helpful if you are into hotels & airmiles redemption as you get better conversion rates and voucher is only FK i guess as if its Amazon Pay /GC voucher (not shopping voucher) then we can use for utility bill payments in Amazon.

American Express Platinum Travel Card | Amex Platinum

The Platinum Travel Credit Card provides unbeatable luxury travel experiences. Apply today and earn air miles and complimentary flights immediately.

www.americanexpress.com

Just wanted to confirm that as per Amex'a website, it doesn't give any MR points in insurance transactions. So if I oay my medical insurance bills via Amex plat travel card, will I get MR points. The amount is close to 50k & Amazon GV won't work bcz the insurer is not listed with Amazon.

And thanks for such a detailed post, it was helpful! And to at the benifits you mentioned, Taj's 10k voucher is also there on spends of 4L.

 

[thegame]

Just wanted to confirm that as per Amex'a website, it doesn't give any MR points in insurance transactions. So if I oay my medical insurance bills via Amex plat travel card, will I get MR points. The amount is close to 50k & Amazon GV won't work bcz the insurer is not listed with Amazon.

And thanks for such a detailed post, it was helpful! And to at the benifits you mentioned, Taj's 10k voucher is also there on spends of 4L.

yes.. no MR on the insurance payment for Plat Travel card (even MRCC doesn't give but Gold card gives 1MR for every Rs 50 spent) but 50k transaction will be counted towards your milestone benefit of 1.9/4L

yes 10k Taj voucher on spends on 4L above but I was more into Amazon/FK voucher or cash redemption and not into Taj/Airmiles conversion also found that 7k gold card Amazon voucher for 18k MR is the best value as 1MR is 0.39Rs (highest) when same if you try to buy normal Amazon voucher 1MR is just 0.22Rs

 

[PiyushA1]

Paying using amazon pay wallet is best option to pay premium, as you can buy amazon pay gift card at cheaper rate (upto 5% off).

How can we get that?

 

[beingmohit]

How can we get that?

Any of you know the MCC of LIC payment from their website? I am worried that it may get counted towards Government Spends and that may reduce the reward rate.
I usually pay LIC premiums using my MRCC, but when I asked their customer support to share the MCC, they denied suggesting they don't have access to it!

 

[nitinmits]

Any of you know the MCC of LIC payment from their website? I am worried that it may get counted towards Government Spends and that may reduce the reward rate.
I usually pay LIC premiums using my MRCC, but when I asked their customer support to share the MCC, they denied suggesting they don't have access to it!

I have paid premium through their website by LIC AXIS CC. Where to check MCC?

 

[beingmohit]

I have paid premium through their website by LIC AXIS CC. Where to check MCC?

You can call Axis Customer Care and request them to share the MCC. It would be extremely helpful if you can be kind enough to call them up and share the MCC here 🙏

 

[nitinmits]

You can call Axis Customer Care and request them to share the MCC. It would be extremely helpful if you can be kind enough to call them up and share the MCC here 🙏

Just called customer care, MCC CODE 6300

 

[ARV]

If insurance payment is less than 50k per month - SC Smart card - 2%CB upto Rs.1000 per month - Yearly fees 499+GST waived on spends of 1.2L
I have not tried as i pay through my company

Edit: Removed AU LIT from the list

 

[thegame]

There are 2 underrated cards for this

1. If insurance payment is less than 50k per month - SC Smart card - 2%CB upto Rs.1000 per month - Yearly fees 499+GST waived on spends of 1.2L
2. AU LIT - No upper limit - Activate 10X online feature 2.5% return - Card is LTF but the 10X feature is 299+GST for 3 months so you can activate it only when the premium is due. Note there will be a redemption charge of 99+GST.

I have not tried both as i pay through my company

there are no RPs on AU LIT on Insurance payments, also now 1RP is 20paise and not 25paise so its 2% CB for 10x plus feature charges (353 for 90days incl GST)

Reward Points will not be given for fuel, rent, insurance and cash withdrawal transactions.