Best Credit Cards for Insurance Premium Payment 2022

Insurance premiums are expensive, offering a great opportunity to earn rewards on payments. However, most of Singapore's credit cards exclude insurance payments from earning rewards. Our credit card experts carefully read through the terms & conditions for 100+ credit cards to identify which options actually offer rebates or miles on premiums.

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Best Cashback Card for Insurance Premiums

Best High-Income Cards for Insurance Premiums
Best Low-Spender Card for Insurance Premiums
CardUp: Earning Points With Other Cards
  • CardUp: Earn rewards on rent, electricity, insurance, taxes and car loan payments

Best Cashback Card for Insurance Premiums

Best High-Income Cards for Insurance Premiums
Best Low-Spender Card for Insurance Premiums
CardUp: Earning Points With Other Cards
  • CardUp: Earn rewards on rent, electricity, insurance, taxes and car loan payments

Compare Best Credit Cards for Insurance Premiums by Dollar Value

Based on an average monthly spend of S$2,000, we analysed the best credit cards on the market to estimate returned value-to-consumer after 2 years, accounting for rebates and netting out annual fees. As a note, dollar value is heavily dependent on spending habits; intangible benefits (like free travel insurance and airport lounge access) are valuable but difficult to quantify.

A graph displaying how best credit cards for paying insurance premiums compare to one another in terms of their rewards
Best Credit Cards for Insurance Payments in Singapore by Estimated 2-Year Dollar Value

Best Cashback Credit Card for Insurance Payments

There are a few credit cards that offer decent cashback on insurance premiums, usually through a flat cashback rate that applies to all categories of spend. Although cards aimed specifically at insurance are rare, these flat cashback cards offer plenty of savings as well as more flexible rewards earning across your entire budget.

UOB Absolute Cashback: Easy and Unlimited Cashback

PROMO: Qualified customers get S$300 cash credit when you apply now*
UOB Absolute Cashback offers 1.7% limitless cashback on all spend, including your insurance payments.
  • Pros
    • Unlimited cashback
    • No min, caps or exclusions
    • American Express Card privileges
    • Cons
      • Low cashback rate for smaller budgets
      • Annual fee
      • Annual fee: S$192.60 (first year - waived)
      • 1.7% unlimited cashback
      • No min spend and no spend exclusions
      • Earn cashback on insurance payments, school fees, wallet top-ups
      • Cashback also available on healthcare, utilities and telco bills and rental payments

      This is why UOB Absolute Cashback is one of the best credit cards in Singapore for insurance payment.

      UOB Absolute Cashback Card offers a relatively simple way to earn 1.7% cashback on just about all of your spending. With no required minimum spend and no limits to the cashback you can earn, UOB Absolute is more flexible than other cashback cards that may offer higher (but more restricted) cashback rates. This makes it a great card for saving on insurance premiums and other parts of your budget that may not otherwise qualify for cashback.


      On top of how easy it is to use, UOB Absolute Cashback unlocks certain American Express Card privileges like a complimentary 6-month FoundersCard membership and up to 50% savings on certain restaurants, shops and hotels. It also offers petrol discounts of 20.8% at Shell stations and up to 24% at SPC.

      PROMO: Qualified customers get S$300 cash credit when you apply now*
      UOB Absolute Cashback offers 1.7% limitless cashback on all spend, including your insurance payments.
      • Pros
        • Unlimited cashback
        • No min, caps or exclusions
        • American Express Card privileges
        • Cons
          • Low cashback rate for smaller budgets
          • Annual fee
          • Annual fee: S$192.60 (first year - waived)
          • 1.7% unlimited cashback
          • No min spend and no spend exclusions
          • Earn cashback on insurance payments, school fees, wallet top-ups
          • Cashback also available on healthcare, utilities and telco bills and rental payments

          This is why UOB Absolute Cashback is one of the best credit cards in Singapore for insurance payment.

          UOB Absolute Cashback Card offers a relatively simple way to earn 1.7% cashback on just about all of your spending. With no required minimum spend and no limits to the cashback you can earn, UOB Absolute is more flexible than other cashback cards that may offer higher (but more restricted) cashback rates. This makes it a great card for saving on insurance premiums and other parts of your budget that may not otherwise qualify for cashback.


          On top of how easy it is to use, UOB Absolute Cashback unlocks certain American Express Card privileges like a complimentary 6-month FoundersCard membership and up to 50% savings on certain restaurants, shops and hotels. It also offers petrol discounts of 20.8% at Shell stations and up to 24% at SPC.

          Best High-Spender Credit Cards for Insurance Payments

          Affluent consumers can maximise rewards on all spend–including insurance–with these options.

          American Express True Cashback Card: Unlimited Cashback + Amex Perks

          PROMO: None currently available
          Earn 1.5% cashback on your insurance premium payments with Amex True Cashback Card, and get free travel accident insurance for simply charging your travel tickets to your card.
          • Pros
            • Great Amex perks
            • Straightforward, easy-to-use card
            • Cons
              • Not suitable for lower budgets
              • Rewards general spend only
              • Annual fee: S$171.20 (first year - waived)
              • Get 1.5% cashback on all eligible spend, with no min. spend required and no cap
              • Get double the cashback at 3% on first S$5,000 spent within first 6 months
              • Free travel insurance up to S$350,000 when you purchase travel tickets with this card

              This is why American Express True Cashback Card is one of the best high-spender credit cards in Singapore for insurance payment.

              If you’re a very high spender, chances are your rewards potential is limited by capped cashback cards. With American Express True Cashback Card, you can enjoy 1.5% cashback on all spend–including on insurance premiums–with no limit or cap to your earning potential. Cardholders also enjoy a boosted 3% rate during their first 6 months, for up to S$150 cashback.


              In addition, consumers have access to top-notch Amex benefits like Global Assist, Amex Selects Privileges, and True Cashback Card promotions (which frequently include wedding-related deals and discounts). Other unlimited cashback cards exclude insurance premiums from earning rewards, but Amex True Cashback Card is an excellent option to earn on all of your spend, including insurance payments.

              PROMO: None currently available
              Earn 1.5% cashback on your insurance premium payments with Amex True Cashback Card, and get free travel accident insurance for simply charging your travel tickets to your card.
              • Pros
                • Great Amex perks
                • Straightforward, easy-to-use card
                • Cons
                  • Not suitable for lower budgets
                  • Rewards general spend only
                  • Annual fee: S$171.20 (first year - waived)
                  • Get 1.5% cashback on all eligible spend, with no min. spend required and no cap
                  • Get double the cashback at 3% on first S$5,000 spent within first 6 months
                  • Free travel insurance up to S$350,000 when you purchase travel tickets with this card

                  This is why American Express True Cashback Card is one of the best high-spender credit cards in Singapore for insurance payment.

                  If you’re a very high spender, chances are your rewards potential is limited by capped cashback cards. With American Express True Cashback Card, you can enjoy 1.5% cashback on all spend–including on insurance premiums–with no limit or cap to your earning potential. Cardholders also enjoy a boosted 3% rate during their first 6 months, for up to S$150 cashback.


                  In addition, consumers have access to top-notch Amex benefits like Global Assist, Amex Selects Privileges, and True Cashback Card promotions (which frequently include wedding-related deals and discounts). Other unlimited cashback cards exclude insurance premiums from earning rewards, but Amex True Cashback Card is an excellent option to earn on all of your spend, including insurance payments.

                  Best Low-Spender Credit Card for Insurance Premiums

                  If you have a smaller budget but still want to earn rewards on insurance, consider this credit card.

                  Maybank Platinum Visa: Flat Cashback for Smaller Budgets

                  Get Samsonite Harts 68/25 Spinner worth S$550
                  Earn 3.33% cash rebate on your insurance payments, and get complimentary travel insurance coverage with Maybank Platinum Visa.
                  • Pros
                    • Great starter card for young adults
                    • Good fit for budgets between S$300 and S$500/month
                    • S$80 annual fee
                    • Cons
                      • Few extra perks
                      • Doesn't award specialised spend (ie dining, shopping)
                      • Annual fee: S$80 (3 years fee waiver)
                      • Subsequently quarterly service fee is waived w/ card use at least 1x/quarter
                      • Up to 3.33% on all local and foreign currency spend
                      • $30 quarterly rebate with at least S$300 monthly spend
                      • S$100 quarterly rebate with at least S$1,000 monthly spend
                      • Free travel insurance

                      This is why Maybank Platinum Visa Card is one of the best low-spender credit cards in Singapore for insurance payment.

                      Even if you spend as little as S$300/month, you can earn high cashback rates–including on your insurance premiums–with Maybank Platinum Visa Card. Cardholders earn S$30/quarter with S$300/month consistent spend, which adds up to S$120/year. Most cashback cards have minimum requirements of S$500+ and offer just 0.3% rebates for spend at lower levels, which would add up to S$3.6/year. Cardholders can also avoid a S$20 quarterly fee by simply using the card at least once a quarter, making Maybank Platinum Visa Card the best option for lower spenders on the market.

                      Get Samsonite Harts 68/25 Spinner worth S$550
                      Earn 3.33% cash rebate on your insurance payments, and get complimentary travel insurance coverage with Maybank Platinum Visa.
                      • Pros
                        • Great starter card for young adults
                        • Good fit for budgets between S$300 and S$500/month
                        • S$80 annual fee
                        • Cons
                          • Few extra perks
                          • Doesn't award specialised spend (ie dining, shopping)
                          • Annual fee: S$80 (3 years fee waiver)
                          • Subsequently quarterly service fee is waived w/ card use at least 1x/quarter
                          • Up to 3.33% on all local and foreign currency spend
                          • $30 quarterly rebate with at least S$300 monthly spend
                          • S$100 quarterly rebate with at least S$1,000 monthly spend
                          • Free travel insurance

                          This is why Maybank Platinum Visa Card is one of the best low-spender credit cards in Singapore for insurance payment.

                          Even if you spend as little as S$300/month, you can earn high cashback rates–including on your insurance premiums–with Maybank Platinum Visa Card. Cardholders earn S$30/quarter with S$300/month consistent spend, which adds up to S$120/year. Most cashback cards have minimum requirements of S$500+ and offer just 0.3% rebates for spend at lower levels, which would add up to S$3.6/year. Cardholders can also avoid a S$20 quarterly fee by simply using the card at least once a quarter, making Maybank Platinum Visa Card the best option for lower spenders on the market.

                          Best Online Platform To Earn Rewards on Insurance Payments

                          If you would like to earn rewards on any insurance payments you already make, consider CardUp.

                          CardUp: Earning Points With Other Cards

                          PROMO: Use promo code "VALUECHAMP" to get S$30 off your first payment scheduled on CardUp
                          Simplify your insurance payments with CardUp – earn cashback or miles on all your payments, schedule future payments and pay with any card you would like, even for services which traditionally don't accept credit card payments.
                          • Pros
                            • Those who have many recurring bills
                            • Individuals who have high credit limits
                            • Cons
                              • Those whose cards offer low rewards rates
                              • Annual fee: none, only applicable processing fees
                              • Compatible with Visa, MasterCard, American Express and UnionPay
                              • Earn rewards on rent, electricity, insurance, property and income taxes, can loans
                              • Set up one-off / recurring payments, or schedule them in advance
                              • Monitor past and upcoming payments all on one platform

                              This is why CardUp is the best online platform in Singapore to earn rewards on insurance payments.

                              If you make one-off or recurring insurance payments and would like to earn rewards while also automating those payments all in one platform, then you should consider signing up for CardUp. This online platform enables you to make payments with your credit card even for services which do not currently accept credit cards. In addition, the platform allows you to earn miles or cashback on your insurance payments, including health, life, critical illness, disability and personal accident insurance.


                              You can schedule future, recurring and one-off payments, monitor them and receive real-time payment status updates. While it is free to sign up, each transaction carries a corresponding processing fee. As an added bonus, however, making payments through CardUp allows you to free up some cash for other uses before the credit card bill is due.

                              PROMO: Use promo code "VALUECHAMP" to get S$30 off your first payment scheduled on CardUp
                              Simplify your insurance payments with CardUp – earn cashback or miles on all your payments, schedule future payments and pay with any card you would like, even for services which traditionally don't accept credit card payments.
                              • Pros
                                • Those who have many recurring bills
                                • Individuals who have high credit limits
                                • Cons
                                  • Those whose cards offer low rewards rates
                                  • Annual fee: none, only applicable processing fees
                                  • Compatible with Visa, MasterCard, American Express and UnionPay
                                  • Earn rewards on rent, electricity, insurance, property and income taxes, can loans
                                  • Set up one-off / recurring payments, or schedule them in advance
                                  • Monitor past and upcoming payments all on one platform

                                  This is why CardUp is the best online platform in Singapore to earn rewards on insurance payments.

                                  If you make one-off or recurring insurance payments and would like to earn rewards while also automating those payments all in one platform, then you should consider signing up for CardUp. This online platform enables you to make payments with your credit card even for services which do not currently accept credit cards. In addition, the platform allows you to earn miles or cashback on your insurance payments, including health, life, critical illness, disability and personal accident insurance.


                                  You can schedule future, recurring and one-off payments, monitor them and receive real-time payment status updates. While it is free to sign up, each transaction carries a corresponding processing fee. As an added bonus, however, making payments through CardUp allows you to free up some cash for other uses before the credit card bill is due.

                                  Learn More About Finding the Best Credit Card for You

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                                  Zoryana Melesh

                                  Zoryana is a Senior Research Analyst at ValueChampion, who focuses on evaluating credit cards, savings and fixed deposits in Singapore. She holds a BA in Political Science and an MPA in International Finance and Economic Policy, both from Columbia University. Prior to joining ValueChampion, Zoryana worked in treasury management consulting.

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