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Best credit card for Insurance payments

Best credit card for Insurance payments

Paying your insurance premiums on time is crucial to ensure financial security for yourself and your family. Using a credit card for insurance payments not only provides convenience but also offers additional benefits such as cashback, reward points, and travel perks. In this guide, we explore the best credit cards in India for insurance payments in 2024, helping you maximize your financial gains.

1. HDFC Bank Regalia Credit Card

If you want a premium credit card that offers excellent travel and insurance benefits, the HDFC Bank Regalia Credit Card is a great option.

Key Benefits:

  • Reward Points: Earn 4 reward points for every ₹150 spent.

  • Travel Insurance: Complimentary travel insurance coverage.

  • Lounge Access: Free access to domestic and international airport lounges.

  • Dining Benefits: Discounts at premium restaurants with complimentary Dineout Passport Membership.

Fees and Charges:

  • Joining Fee: ₹2,500.

  • Annual Fee: ₹2,500 (waived on annual spends above ₹3 lakhs).

2. SBI Card Elite

A premium card with extensive rewards, the SBI Card Elite is a solid choice for insurance payments and lifestyle benefits.

Key Benefits:

  • Reward Points: Earn 2 reward points for every ₹100 spent on insurance payments.

  • Travel Perks: Complimentary domestic and international airport lounge access.

  • Dining Offers: Get up to 10% discount 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 on annual spends above ₹10 lakhs).

3. ICICI Bank Coral Credit Card

The ICICI Bank Coral Credit Card is an affordable option for insurance payments, offering decent rewards and lifestyle perks.

Key Benefits:

  • Reward Points: Earn 1 reward point for every ₹100 spent on insurance payments.

  • Travel Benefits: Complimentary domestic lounge access.

  • Dining Discounts: Up to 15% off at partner restaurants.

  • Entertainment Perks: Discounts on movie tickets.

Fees and Charges:

  • Joining Fee: ₹500.

  • Annual Fee: ₹500 (waived on annual spends above ₹1.5 lakhs).

4. Axis Bank Vistara Signature Credit Card

If you are a frequent traveler and want additional benefits on insurance payments, the Axis Bank Vistara Signature Credit Card is a suitable choice.

Key Benefits:

  • Reward Points: Earn 4 Club Vistara points for every ₹200 spent.

  • Travel Insurance: Complimentary travel insurance for cardholders.

  • Airport Lounge Access: Free domestic and international lounge access.

  • Bonus Vouchers: Complimentary Vistara flight vouchers on milestone spends.

Fees and Charges:

  • Joining Fee: ₹3,000.

  • Annual Fee: ₹3,000 (waived on annual spends above ₹4.5 lakhs).

Conclusion

Selecting the best credit card for insurance payments depends on your financial habits and the benefits you value most. If you seek cashback on insurance payments, the Airtel Axis Bank Credit Card is a great choice, offering up to 1% cashback on bill payments. Meanwhile, cards like HDFC Bank Regalia and SBI Card Elite provide comprehensive travel and reward benefits. Evaluate your needs and choose a credit card that aligns with your spending patterns.

FAQs

1. Can I pay my insurance premium using a credit card?
Yes, most insurance companies in India accept credit card payments, allowing you to earn rewards, cashback, and other benefits.

2. What is the best credit card for insurance premium payments in India?
The Airtel Axis Bank Credit Card offers 1% cashback on insurance payments, while the HDFC Bank Regalia and SBI Card Elite provide high reward points and travel perks.

3. Are there additional charges for paying insurance premiums with a credit card?
Some credit cards may have processing fees for insurance payments. Check with your card issuer for details.

4. Do credit cards offer travel insurance benefits?
Yes, several credit cards like HDFC Bank Regalia and Axis Bank Vistara Signature Credit Card provide complimentary travel insurance.

5. How can I maximize benefits from my credit card for insurance payments?
Choose a credit card with cashback or reward points on insurance payments. Consider additional perks like travel and dining discounts to maximize savings.

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