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 😀

 

[ARV]

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.

Ya just checked, i thought there were no exclusions except fuel. Thanks

 

[dakshv]

I have an upcoming 5 LIC premium payment aggregating to Rs 2 lakh and I’m planning to pay it using my credit card to maximize the rewards. I currently hold the following cards:


1. Tata New Infinity Rupay
2. ICICI Sapphire AMEX & MasterCard
3. ICICI Amazon Card
4. IDFC First Card
5. IndusInd Aura Edge Platinum
6. BOB ICAI Exclusive Card

Could anyone advise which card would give me the best rewards for this type of payment? I’m particularly interested in cashback or reward points.

Looking forward to your suggestions!

 

[S U D O]

Use Tata Neu Infinity on Tata Neu app for 5% neu coins

 

[VasukiVasuki is verified member.]

I have an upcoming 5 LIC premium payment aggregating to Rs 2 lakh and I’m planning to pay it using my credit card to maximize the rewards. I currently hold the following cards:


1. Tata New Infinity Rupay
2. ICICI Sapphire AMEX & MasterCard
3. ICICI Amazon Card
4. IDFC First Card
5. IndusInd Aura Edge Platinum
6. BOB ICAI Exclusive Card

Could anyone advise which card would give me the best rewards for this type of payment? I’m particularly interested in cashback or reward points.

Looking forward to your suggestions!

Better get amex platinum travel & complete 4 lakh milestone

Also sbi cashback card
Will let you buy 100k amazon gv at 5 %
Does sbi cashback gives point on insurance @NShah

 

[TheGuyTheGuy is verified member.]

Does sbi cashback gives point on insurance @NShah

N o .

 

[ranjan9]

I have an upcoming 5 LIC premium payment aggregating to Rs 2 lakh and I’m planning to pay it using my credit card to maximize the rewards. I currently hold the following cards:


1. Tata New Infinity Rupay
2. ICICI Sapphire AMEX & MasterCard
3. ICICI Amazon Card
4. IDFC First Card
5. IndusInd Aura Edge Platinum
6. BOB ICAI Exclusive Card

Could anyone advise which card would give me the best rewards for this type of payment? I’m particularly interested in cashback or reward points.

Looking forward to your suggestions!

Amazon pay card gives 1% when you on lic website or app.
I use only this one to pay

 

[rajcasio]

Amazon pay card gives 1% when you on lic website or app.
I use only this one to pay

Buy GIFT CARDS(not shopping voucher) in Amazon using APAY CC and you get 2%.
Add Gift card to amazon wallet to pay LIC without any convenience fee👍

 

[theflash]

Hi guys

I have a LIC premium upcoming for around ₹39k 2 premiums and around 40k+ 4 premiums total ₹2.5L

So I wanted to know how much can we pay through Amazon pay balance. Last time I asked amzn customer care I was told it's ₹40k INR max per policy per payment for using apay balance.

I have these cards for buying agv:
SBI CB CC *2
Millennia

Last option I've kept is maybe taking IDFC LIC CC and then pay via that and repay using IDFC DC.

Recommend anything else if you guys know 😁.

 

[6ix9ine]

Insurance limit is 1L, not 40K.

Also from your 6th insurance premium payment onwards in a calendar month, only Amazon Pay UPI will be shown.

 

[theflash]

Insurance limit is 1L, not 40K.

Also from your 6th insurance premium payment onwards in a calendar month, only Amazon Pay UPI will be shown.

So 1L per month or per txn?

Just asking to be safe coz if I add the amount once it'll get blocked.

Have you tried paying more than 40k recently?

 

[6ix9ine]

So 1L per month or per txn?

Per transaction

Just asking to be safe coz if I add the amount once it'll get blocked.

Have you tried paying more than 40k recently?

You can refer this:


Q. Is there any upper limit for the amount of insurance premium payment?

A. Insurance premium payments up to the value of INR 1 lakh is permitted on Amazon. It is hereby clarified that any insurance premium payment for an amount equivalent to INR 1 lakh or above will not be processed on Amazon.

Source: Amazon T&C.

Ask customer care about thir T&C, let's see what they have to say. If they deny their own T&C then skip amazon.

 

[Rakshith]

Update on TATA NEU Infinity card (RUPAY Variant) . I was able to make payment through cc on TATA NEU for almost 30k . I think they have change their app flow .

 

[lpshreyas]

I have a LIC premium upcoming for around ₹39k 2 premiums and around 40k+ 4 premiums total ₹2.5L

I pay approximately 3.2L annually on 4 premiums, each more than 50k, and one over 1.5L. I have been in the same dilemma as you. Last year, I used a combination of Neu Infinity and SC Smart for paying these. However, SC screwed me over by reducing my limit down to 10k. Neu Infinity would still work but because of its daily 2k cashback cap on insurance payments, I lose out on a huge amount of the 5% cashback.

I had been contemplating Amex Plat Travel, but as someone who doesn't travel much, the amazon GV redemption is the only option. But after paying the 5.9k annual fee, the return actually becomes less than what I get from Neu Infinity. Amazon Pay is not viable given the 1L limit, not to mention the fact that they block the use of CC if they feel like you're making too many transactions.

Do update here if you find a better way

 

[yogesh498]

I have bajaj policy premium payment of around 1.08L and I have the following cards neu infinity, az icici, one card, hdfc Business MoneyBack, axis myzone, sbi simplyclick.
I tried with the neu app for premium payment but the card doesn't show at checkout (is there any limit?), tried on amazon but there are convenience charges.
Please help me to earn something back on this premium payment!

 

[lpshreyas]

I have bajaj policy premium payment of around 1.08L and I have the following cards neu infinity, az icici, one card, hdfc Business MoneyBack, axis myzone, sbi simplyclick.
I tried with the neu app for premium payment but the card doesn't show at checkout (is there any limit?), tried on amazon but there are convenience charges.
Please help me to earn something back on this premium payment!

It's not confirmed but there is some limit. It might be that it doesn't allow payments more than 1L. But you can still use the Neu Infinity card on the Bajaj insurance site directly and get 1.5% cashback. That's roughly 1600 coins, you're only missing out about 400 coins by not being able to pay via Neu app (2k is the daily limit for insurance)

 

[yogesh498]

It's not confirmed but there is some limit. It might be that it doesn't allow payments more than 1L. But you can still use the Neu Infinity card on the Bajaj insurance site directly and get 1.5% cashback. That's roughly 1600 coins, you're only missing out about 400 coins by not being able to pay via Neu app (2k is the daily limit for insurance)

Thanks for the information brother, i checked directly on bajaj allianz for the neu repay cc payment option but it shows an extra 1220 convenience fee there! 😕