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Best way to earn cashback on LIC premium payment of 1.5 lacs

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arindamb89

Hi Guys,

Can someone suggest the best way to earn cashback on LIC premium payment of 1.5 lacs

Cards available -  HDFC Millenia CC, Axis Flipkart, SBI Cashback, SBI Simply click, Amazon ICICI, IDFC First Wealth

I have used SBI simply click till last year, it provides 2.5% CB + 1000 Cleartrip milestone voucher, looks like this is the best option now as well since all other cards do not give enough CB on insurance payments.

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Deal Cadet Deal Cadet
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Axis Freecharge CC gives 5% ,but not sure will it allow payment of 1.5 lacs in single transaction

Finance Ninja Finance Ninja
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Paid using amazon vouchers and got 8% benefit a week ago.
Deal Cadet Deal Cadet
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How did you pay a big amount through amazon vouchers ?
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Generous Generous
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HDFC Millenia CC - Amazon Voucher Rs. 20,000 @ 5% = 1000 CB

SBI Cashback - Amazon Voucher - Rs. 35,000 @ 7.85% (Yono and SBI Card Gyftr) = 2750 CB

( Limits are per Calendar Month, so next Month (after 3 days) same can be availed second time)

So, total AZ Voucher - 1,10,000.00

Rest 40,000 AZ Voucher can be purchased directly from the Amazon Website using Amazon ICICI Card SBI CB CC @  5% = 2000 CB

SBI CB - DEC 35000 2747.5
SBI CB - JAN 35000 2747.5
HDFC Mil - DEC 20000 1000
HDFC Mil - JAN 20000 1000
ICICI Amazon SBI CB
40000 2000


+ Amazon Gift Voucher Offers as applicable.

Average 6.33% with this tedious way.

Specially SBI CB Card getting blocked on Gyftr and HDFC Millennia - Wait for 2/3 months for the CB.


All of this will work only if Amazon LIC Payment is allowed in Parts/Separate Policies, as they do not allow Payment above Rs. 9999 through GC balance.

Policy Payment of more than 1 Lac is possible through Amazon Pay Balance as confirmed by many dimers.

For a safer side, pay using different Amazon Accounts. 😜

Cool Cool
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Amazon ICICI Card gives 2% only on amazon gv
 
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Deal Cadet Deal Cadet
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Does ICICI Amazon card gives 5% on Amazon pay voucher?

Cool Cool
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2% only
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Deal Newbie Deal Newbie
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Yes more than 1 lac payment is possible via amazon

Generous Generous
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@whyred , @Random123 , @hg916 , @Andhra_Abbayi , @1cooldesidd , @Tanmayyy

I was not aware that Bill Pay and Policy Payment has different limits, so messed up 😛  Thanks all for the correction.

Using same SBI CB CC using multiple mobile number looks risky to me when the OP already has many cards/ways available. So suggested that way.

Here, Using SBI CB CC rather ICICI Amazon is also a better option, I don't remember the exact thread but I guess on DD only I read somewhere that ICICI Amazon fetches 5% CB on GC. 😬


Thanks all, I corrected the post. 😄

Deal Cadet Deal Cadet
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How does SBiI simply click give 2.5% ? Please help explain @arindamb89

Deal Newbie Deal Newbie
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You're right it was 2.5% with 10x reward points. I got these 10x when I paid the premium in January 2022, but not taking chance this time.
5x reward points for online transactions (will pay directly on lic portal) which equals to 1.25% + 1000 Cleartrip voucher + fee waiver

This will be close to 2% cashback overall
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Benevolent Benevolent
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@SunnyKh

Deal Subedar Deal Subedar
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How to get 5% using hdfc millennia?

Deal Cadet Deal Cadet
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Best way to pay for star health insurance??? I m paying 3 yr in advance.. company giving 10%discount.. total for 3 yr its coming around 95000.i have icici amazon pay,hdfc regalia, idfc select, axis flipkart& airtrl axis and amex mrcc, sbi irctc rupay cc.. can sumone guide me best way to pay95000

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