Best Credit Card for Insurance Premium Payment India 2026 — Where You Still Earn Rewards
Last verified June 2026. Best credit cards for paying insurance premiums (life, health, motor) in India 2026 — where you still earn rewards after the 2024 RBI exclusion rules.
The 5 best credit cards for insurance premium payments in 2026
1 ICICI Emeralde Private Metal
The highest verified earn on premiums: up to 5,000 points a cycle, enough to cover about ₹1.6 lakh of premiums a month. Effectively invite-only. Full review: ICICI Emeralde Private Metal review.
2 Tata Neu Infinity HDFC Bank
A good mid-fee option: 1.5% back on premiums up to about ₹1.33 lakh a month, and the spend counts towards the ₹3 lakh fee waiver. Full review: Tata Neu Infinity HDFC Bank review.
3 ICICI Emeralde
Insurance earns a reduced rate, but large premiums help you reach the ₹10 lakh fee waiver and keep unlimited lounge access. Full review: ICICI Emeralde review.
4 AU Ananta
Low earn on premiums, but they count towards milestones of up to 50,000 points at ₹10 lakh. Full review: AU Ananta review.
5 ICICI Expressions
A low-fee card that still earns on premiums, and a ₹1.5 lakh premium alone can waive its fee. Full review: ICICI Expressions review.
Head-to-head comparison
| Card | Fee | Headline Rate |
|---|---|---|
| ICICI Emeralde Private Metal | ₹12,499 + GST (waived on ₹10 lakh) | 6 pts per ₹200 on insurance, capped at 5,000 pts a cycle |
| Tata Neu Infinity HDFC Bank | ₹1,499 + GST (waived on ₹3 lakh) | 1.5% NeuCoins on insurance, capped at 2,000 NeuCoins a month |
| ICICI Emeralde | ₹12,000 + GST (waived on ₹10 lakh) | 1 pt per ₹100 on insurance and utilities, 4 per ₹100 on retail |
| AU Ananta | ₹2,000 + GST (waived from year two on ₹3 lakh) | 1 pt per ₹100 on insurance, utility and telecom (about 0.25%) |
| ICICI Expressions | ₹499 + GST (waived on ₹1.5 lakh) | 1 pt per ₹100 on insurance and utilities, 3 per ₹100 on retail |
Sources & references
All fees and reward rates verified against issuer official T&C pages as of June 2026. Reward programmes change frequently — confirm with the issuer before applying.
Checked October 2026. Many cards now exclude insurance from rewards or cap it, including most American Express and several Axis cards. Each card above was checked against its issuer’s current terms for how insurance premiums earn; caps are shown next to the rate. Check whether your insurer charges a convenience fee for card payments before paying a large premium.
Paying insurance premiums by card in 2026
Paying life and health insurance by card gives up to 50 days of float and, on some cards, rewards. But many issuers now cap reward points on insurance payments per month or per statement, and a few exclude them. Individual life and health insurance premiums have been exempt from GST since 22 September 2025, so premiums are cheaper than before.
Worked example
A ₹60,000 annual family health premium paid on a card earning 3.3% value earns about ₹2,000 — if insurance is not capped. On a card that caps insurance at, say, 1,000 points a month, you might earn a fraction of that. Check the cap before choosing.
Smart moves
- Use the premium to reach an annual spend milestone or fee waiver — often worth more than the base rewards.
- Avoid converting premiums into card EMIs unless the EMI is genuinely interest-free; interest and GST on EMIs usually cost more than the reward.
- Keep the payment receipt in your name for Section 80D (old regime).
Related: health insurance guide and how much term cover you need.
Reviewed October 2026. Card features change often — confirm current terms on the issuer’s site before applying.
FAQs
Is GST charged on health insurance premiums?
Individual health and life insurance premiums are exempt from GST since 22 September 2025.