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  • Best Credit Cards to Pay Insurance Premium

    Credit Cards to Pay Insurance Premium

    Looking to pay your monthly insurance premium? Applying for an insurance credit card not only makes insurance payments hassle-free, but also gives you cashback, rewards, and many other offers and privileges for every transaction.

    Here are the Best Credit Cards to Pay Insurance Premium in Malaysia 2018

    Updated on 14th November 2018

    Card Name
    Insurance Perks
    Benefits
    Annual Fee
    Know More

    5x reward points on insurance payments at MyEG website/counters

    (Insurance Perks)

    1x reward points on retail transactions

    Promotional offers at theatres and orchestras

    Discounts for concert tickets

    Redeem shopping vouchers and a range of selected items

    (Benefits)

    Principal card: RM88.

    Supplementary card: No charges

    (Annual Fee)

    2% cash rebate when you pay AIA Insurance premiums

    (Insurance Perks)

    Unlimited Cash MegaBonus on local and international spends

    (Benefits)

    Principal card: No charges.

    Supplementary card: No charges.

    (Annual Fee)

    0.6% unlimited cashback on insurance payments

    (Insurance Perks)

    0.6% unlimited cashback on retail transactions (with the first RM5,000 spent)

    1% unlimited cashback on retail transactions (for spends more than RM5,000)

    Withdraw 70% of your credit limit at a low interest rate of 10.8% p.a

    Low cash advance fee

    (Benefits)

    Principal card: RM100.

    Principal card: RM100.

    Supplementary card: RM50.

    (Annual Fee)

    0% Auto-IPP on insurance payments of RM2,200 and more

    (Insurance Perks)

    Complimentary RM100,000 insurance coverage

    (Benefits)

    Principal card: No charges.

    Supplementary card: No charges.

    (Annual Fee)

    1x TreatsPoint for payments made to insurance providers.

    (Insurance Perks)

    1x TreatsPoint for every RM1 spent locally and overseas

    1x TreatsPoint for utility bill payment, petrol purchases, and 0% EzyPay payments.

    (Benefits)

    Principal card: RM60.

    Supplementary card: RM30.

    (Annual Fee)

    Get up to RM1,000 cashback a year for insurance payments.

    15% cashback for spends more than RM2,500.

    10% cashback for spends between RM1,500 to RM2,499.99.

    5% cashback for spends between RM1,000 to RM1,499.99.

    0.2% cashback for spends less than RM1,000.

    (Insurance Perks)

    Get up to RM1,000 cashback per year for petrol payments and online and daily spends.

    0.2% cash rebate on all other card spends.

    (Benefits)

    Principal card: RM250. Waived for the first year.

    Supplementary card: No charges.

    (Annual Fee)

    MyEG-RHB Credit Card

    Earn rewards when you use the MyEG-RHB Credit Card to make your insurance payments. You can use these rewards to redeem a wide range of products and shopping vouchers. Furthermore, you will be entitled to a discount on concert tickets and special offers at theatres and orchestras.

    Key Benefits

    • Earn 5x RHB Reward points when you renew your insurance payments.
    • Get 5x RHB Reward points when you pay your road tax online.
    • Gain 5x RHB Reward points on utility bill payments.
    • Get 1x RHB Reward points on retail and online transactions, including petrol purchases.
    • Redeem RHB Reward points for shopping vouchers and lifestyle items.
    • Get 0% interest for up to three years when you shop at partnering merchants' outlets using the Smart Instalment facility.
    Additional Points Description
    How to Use It
    • Use your card at MyEG website/counters for insurance, utility bills, and tax payments to earn 5x reward points.
    • Use this card to earn 1x reward points on retail transactions.
    Good about It
    • There is no limit on rewards earning.
    • Transactions made overseas will be eligible for 1x reward points.
    Keep in Mind
    • You won’t earn reward points for government services.
    • Reward points are valid only for one year.

    Who Should Get It

    • Those who make insurance payments at MyEG website/counters.

    PB-AIA Visa Gold Credit Card

    The Public Bank-AIA Visa Gold Credit Card is a co-branded card that provides cash rebates when you pay premiums for your AIA insurance policy. The card also provides rewards when you use the card for other transactions.

    Key Benefits

    • Get 2% cash rebate on every ringgit spent on AIA insurance payment.
    • Earn Cash MegaBonus of 0.1% on local and overseas retail transactions.
    Additional Points Description
    How to Use It
    • Use the PB-AIA Visa Gold Credit Card to pay your insurance premiums and other retail transactions.
    • Earn cash rebates and Cash MegaBonus based on the type of transaction done with your card.
    Good about It
    • Get an annual fee waiver for a lifetime.
    • The Cash MegaBonus you can earn has no maximum limit.
    • Enjoy 24-hour assistance with the bank’s Help Desk.
    • Open a Public Bank Current Account without an introducer.
    • Access the banking transactions at your fingertips with the PBe Service.
    Keep in Mind
    • The cash rebate on insurance payment is capped at RM350 p.a.

    Who Should Get It

    • Those who have AIA insurance policy.
    • Those who pay insurance premiums online.

    Hong Leong Essential Credit Card

    The Hong Leong Essential Credit Card offers unlimited cashback on your insurance premium payments and other retail transactions. Additionally, you can get cash advances at a low interest rate.

    Key Benefits

    • Get 1% unlimited cashback on retail transactions with a spend of RM5,000 or more.
    • Earn 0.6% unlimited cashback on retail transactions with spends of up to RM5,000.
    • Withdraw up to 70% of your credit limit at a low interest rate of 10.8% p.a.
    • Get cash instantly with a low cash advance fee of 2%.
    • Get an annual-fee waiver if you spend a minimum of RM8,000 p.a. or with at least 12 retail transactions per year.
    Additional Points Description
    How to Use It
    • Use your card for insurance transactions and enjoy unlimited cashback of 0.6%.
    • Shop using your card and enjoy up to 1% unlimited cashback – 0.6% on transactions up to RM5,000 and 1% on transactions more than RM5,000.
    Good about It
    • Unlimited cashback up to 1% for retail transactions.
    • Low cash advance fee of 2%.
    • The interest rate for advance cash is as low as 10.8%.
    Keep in Mind
    • Government services are excluded for the cashback programme.
    • In order to get an annual fee waiver, you need to make at least 12 retail transactions in a year or spend a minimum of RM8,000 for retail expenses.
    • The minimum income requirement is RM24,000 p.a.

    Who Should Get It

    • Those who use their card to pay insurance premiums.
    • Those who wish to save on retail transactions.

    OCBC Great Eastern Platinum Mastercard

    The OCBC Great Eastern Platinum MasterCard is created especially for applicants who hold insurance policies from GE (Great Eastern). You can charge your insurance premium to your card and it will be split into affordable instalments. In addition, when you spend RM10,000 or more for retail expenses, you will be entitled to insurance coverage renewal in the subsequent year.

    Key Benefits

    • 0% Auto-IPP (Instalment Payment Plan) for 12 months when you make insurance transactions of RM2,200 or more through Auto Debit.
    • Enjoy a range of offers and privileges through the Live Great Privileges programme.
    • No annual fees for both principal and supplementary cards.
    • Benefit from round-the-clock concierge services.
    Additional Points Description
    How to Use It
    • When you pay insurance premium of RM2,200 and more, you can benefit from 0% Auto-IPP.
    Good about It
    • Interest-free Auto-IPP for 12 months.
    • Lifetime annual-fee waiver.
    Keep in Mind
    • This card is applicable only for GE policyholders.
    • For this card, the minimum income requirement is RM24,000 p.a.

    Who Should Get It

    • GE policyholders

    Maybank Visa Classic

    Maybank Visa Classic offers rewards points when you pay your insurance premium to participating insurance providers. Additionally, this card offers travel insurance coverage and travel-related assistance.

    Key Benefits

    • Earn 1x TreatsPoint when you make insurance payments.
    • Earn 1x TreatsPoint for every RM1 spent on local and overseas retail transactions.
    • Earn 1x TreatsPoint for utility bill payment, fuel transactions, and 0% EzyPay payments.
    • Stay protected with travel insurance coverage of up to RM300,000 for you and your family. The travel insurance also covers travel inconveniences.
    • Make use of the Visa Emergency Assistance facility for instant cash, travel assistance, travel-related queries, and other emergencies.
    Additional Points Description
    How to Use It
    • Use your card to make insurance payments as well as for carrying out retail transactions to earn TreatsPoints.
    • Redeem the accumulated TreatsPoints on a range of lifestyle products and gift vouchers.
    Good about It
    • This card offers rewards not just for insurance payments, but for all retail transactions as well.
    Keep in Mind
    • The minimum income requirement for this card is RM30,000 p.a. for Malaysians and RM60,000 p.a. for expatriates.
    • TreatsPoints are valid for a period of three years. All unused points will be forfeited.

    Who Should Get It

    • Those who make insurance payments.
    • Those who make fuel purchases regularly.

    Standard Chartered JustOne Platinum Mastercard Credit Card

    Standard Chartered JustOne Platinum Mastercard Credit Card is ideal for those who pay their insurance premium and utility bills regularly. You earn cashback depending on the amount you spend.

    Key Benefits

    • Enjoy more than RM1,000 cashback a year when you make insurance payments, depending on the amount you spend:
      • Get 15% cashback when you spend more than RM2,500.
      • Get 10% cashback for spends between RM1,500 and RM2,499.99.
      • Get 5% cashback for spends between RM1,000 and RM1,499.99.
      • Get 0.2% cashback when you spend less than RM1,000.
    • Get 0.2% cashback for all other credit card spends.
    • Enjoy privileges and offers from over 4,000 participating partner outlets in Malaysia and Asia.
    • Principal cardholders can enjoy an annual fee waiver for the first year.
    Additional Points Description
    How to Use It
    • Make insurance payments using your Standard Chartered JustOne Platinum Mastercard Credit Card and earn cashback.
    • Earn up to RM1,000 cashback per year.
    Good about It
    • The minimum income requirement of this card is just RM24,000 p.a.
    • You can get up to RM1,000 cashback per year.
    Keep in Mind
    • The cashback for the respective spends comes with the following cashback cap:
      • Spends below RM1,499.99: RM12.
      • Spends between RM1,500 and RM2,499.99: RM28.
      • Spends above RM2,500: RM85.

    Who Should Get It

    • Those who make insurance payments regularly.
    • Those who pay utility bills.
    • Those who make petrol purchases frequently.

    How to Choose the Best Insurance Credit Cards

    An insurance credit card is for those who are looking for offers and privileges for insurance transactions. You will find credit cards that give you cashback, rewards, and other privileges.

    Before zeroing in on a particular credit card, be sure to check the minimum income requirement, fees and charges, and other criteria. It’s also important that you read the fine print thoroughly and check if the card’s benefits suit your needs. You can also take a look at the best credit cards for utility bill payment.

    Other than Insurance Premium credit cards, you can also compare best rewards credit cards and best shopping credit cards to choose a card that offers you benefits on all these categories.

    Review

    Maybank Visa Classic Credit Card

    This card offers rewards points for insurance payments as well as for local and overseas retail transactions. You can accumulate the reward points and redeem them on a range of exclusive items. This card also offers travel-related benefits, including travel insurance coverage and travel assistance. You just need to earn RM30,000 per year to be eligible to apply for this card. Make the most of this card by using it for making your payments on time.

    Illustration

    To understand how Maybank Visa Classic Credit Card works, consider you have made a monthly purchase worth RM3,000. This includes RM300 for paying insurance premium, RM500 for paying utility bills, RM500 for fuel purchases, RM700 for local purchases, and RM1,000 for overseas purchases. The following table explains how the TreatsPoints are calculated and earned:

    Spend Category Total Amount Spent TreatsPoints Awarded TreatsPoints Earned Total TreatsPoints Earned
    Insurance Premium Payment RM300 1x TreatsPoint RM300 x 1 TreatsPoint = 300 TreatsPoints 3,000 TreatsPoints
    Utility Bill Payment RM500 1x TreatsPoint RM500 x 1 TreatsPoint = 500 TreatsPoints
    Petrol Purchases RM500 1x TreatsPoint RM500 x 1 TreatsPoint = 500 TreatsPoints
    Local Spends RM700 1x TreatsPoint RM700 x 1 TreatsPoint = 700 TreatsPoints
    Overseas Spends RM1,000 1x TreatsPoint RM1,000 x 1 TreatsPoint = 1,000 TreatsPoints

    With RM3,000, you earn 3,000 TreatsPoints. You can redeem these points on a range of lifestyle products and gift vouchers. Remember that TreatsPoints are valid for a period of three years. So make sure you utilize the TreatsPoints before they expire. All unused points will be forfeited. You can check your credit card statement to see how many TreatsPoints you have earned.

    BBazaar's Best Credit Cards to Pay Insurance Premium

    Use this guide to compare and choose the card that is best suited to you. Make sure you read all terms and conditions pertaining to the card before opting for one. Identify your preferred spending category and budget to pick a card that will meet your financial needs. This table below will explain the categories that each individual card is ideal for. Utilize this table when comparing cards to choose the best card for yourself.

    Credit Card Insurance Perks
    MyEG-RHB Credit Card 5x reward points on insurance payments at MyEG website/counters
    PB-AIA Visa Gold Credit Card  2% cash rebate when you pay AIA Insurance premiums
    Hong Leong Essential Credit Card 0.6% unlimited cashback on insurance payments
    OCBC Great Eastern Platinum Mastercard 0% Auto-IPP on insurance payments of RM2,200 and more
    Maybank Visa Classic 1x TreatsPoint for payments made to insurance providers.
    Standard Chartered JustOne Platinum Mastercard Credit Card

    Get up to RM1,000 cashback a year for insurance payments.

    15% cashback for spends more than RM2,500.

    10% cashback for spends between RM1,500 to RM2,499.99.

    5% cashback for spends between RM1,000 to RM1,499.99.

    0.2% cashback for spends less than RM1,000.

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