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Paying insurance premiums is an essential part of financial planning, ensuring that you and your loved ones are protected against unforeseen circumstances. Using a credit card for insurance payments not only simplifies the process but also offers various benefits. When you pay insurance premiums by credit card you can get cashbacks, reward points, and more. Here, let’s explore the best credit cards for insurance payments in India for 2024, helping you make an informed choice.
HDFC Bank Regalia Credit Card
If you’re looking for the best credit card for travel protection, HDFC Bank Regalia Credit Card would be your ideal choice. Known for its premium benefits, and high reward points, it is also among the best credit cards with travel insurance benefits. It’s also an excellent choice for those seeking a comprehensive insurance payment option.
Key Benefits:
- Reward Points: 4 reward points for every ₹150 spent.
- Travel Insurance: Complimentary travel insurance coverage.
- Airport Lounge Access: Complimentary domestic and international lounge access.
- Dining Privileges: Discounts at premium restaurants with complimentary Dineout Passport Membership.
Fees and Charges:
- Joining Fee: ₹2,500.
- Annual Fee: ₹2,500 (waived if annual spend exceeds ₹3 lakhs).
Also Read- How to Pay LIC Premium Through Credit Card?
SBI Card Elite
The SBI Card Elite is another great option for paying insurance premiums. It also gives you travel benefits and insurance payment offers on credit cards in the form of attractive reward points.
Key Benefits:
- Reward Points: 2 reward points for every ₹100 spent on insurance.
- Travel Benefits: Complimentary domestic and international lounge access.
- Dining Offers: Up to 10% off at select restaurants.
- Milestone Benefits: E-vouchers worth ₹5,000 on annual spends of ₹3 lakhs.
Fees and Charges:
- Joining Fee: ₹4,999.
- Annual Fee: ₹4,999 (waived if annual spend exceeds ₹10 lakhs).
ICICI Bank Coral Credit Card
The ICICI Bank Coral Credit Card is a versatile card that offers decent benefits for insurance payments and other spends. You can even use this credit card for medical insurance payments and receive reward points.
Key Benefits:
- Reward Points: 1 reward point for every ₹100 spent on insurance categories.
- Travel Benefits: Complimentary domestic lounge access.
- Dining Discounts: Up to 15% off at partner restaurants.
- Entertainment Offers: Discounts on movie tickets.
Fees and Charges:
- Joining Fee: ₹500.
- Annual Fee: ₹500 (waived if annual spend exceeds ₹1.5 lakhs).
Also Read- Credit Card Protection Plan
Axis Bank Vistara Signature Credit Card
For frequent flyers, the Axis Bank Vistara Signature Credit Card offers excellent travel and insurance benefits. For every LIC premium credit card payment, you receive Club Vistara points and complimentary lounge access.
Key Benefits:
- Reward Points: 4 Club Vistara points for every ₹200 spent.
- Travel Insurance: Complimentary travel insurance.
- Travel Benefits: Complimentary Vistara ticket vouchers on milestone spends.
- Airport Lounge Access: Complimentary access to domestic and international lounges.
Fees and Charges:
- Joining Fee: ₹3,000.
- Annual Fee: ₹3,000 (waived if annual spend exceeds ₹4.5 lakhs).
Conclusion
Choosing the best credit card for insurance payments in India depends on your spending habits and the benefits you value the most. You can also consider the Airtel Axis Bank Credit Card that doesn’t exactly give benefits on insurance premium payments, but has several other perks such as annual cashback of up to ₹16,000 while cards like the HDFC Bank Regalia and SBI Card Elite offer comprehensive travel and reward benefits. Evaluate your needs and choose the card that best aligns with your financial goals.
Also Read- How to Check Credit Card Limit? – Guide
FAQs
1. Can I pay my insurance premium using a credit card?
Yes, most insurance companies in India accept credit card payments for insurance premiums. Using a credit card can earn you reward points, cashback, and other benefits.
2. What is the best credit card for insurance premium payments in India?
The Airtel Axis Bank Credit Card is highly recommended due to its 1% cashback on insurance premium payments. Other notable options include the HDFC Bank Regalia Credit Card and SBI Card Elite.
3. Are there any additional charges for paying insurance premiums with a credit card?
Some credit cards might have processing fees for insurance payments. It’s advisable to check with your credit card issuer for any applicable charges.
4. Do credit cards offer travel insurance benefits?
Yes, several credit cards offer travel insurance benefits. Cards like the HDFC Bank Regalia Credit Card and Axis Bank Vistara Signature Credit Card provide comprehensive travel insurance coverage.
5. How can I maximise benefits from my credit card for insurance payments?
To maximise benefits, choose a credit card that offers cashback or reward points on insurance payments. Additionally, consider cards with travel and dining perks to get the most out of your spending.
