Guide To Using Your Credit Cards Travel Insurance

Guide To Using Your Credit Cards Travel Insurance – Health or life insurance premiums can add up to hundreds or thousands per year if you’re a little older. That’s why you should sign up for a credit card to get rewards when you use it to pay for premiums.

Insurance is not our idea of ​​retail therapy. In the best case scenario, you don’t use your policy, which means you paid the premium for nothing. In a worst-case scenario, you can use your insurance policy, but that also means you’re hospitalized, diagnosed with a terminal illness, or die. But since paying the premium is inevitable, it’s best to pay with a credit card so you can get something in return.

Guide To Using Your Credit Cards Travel Insurance

Premiums are often excluded from credit card, mileage, and rewards refund programs. Even if your credit card promises to reward you for every penny you spend, the premium may be excluded.

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The easiest way to find out is to read your bank’s terms and conditions for credit card benefits. Usually, searching for [credit card name] + [terms and conditions] will bring up the relevant PDF document, saving you from having to go to your bank’s website.

There will almost always be an exclusion list that does not qualify for their refund/miles/rewards. Check if insurance payment is one of them.

The card offers up to 3% cashback on all eligible spending including insurance payments. It is the only card with no insurance company limits and offers instant cashback on the same month’s statement. However, the 3% cashback is only offered for the first 6 months, and you can only earn that percentage when you spend up to $5,000. If you exceed $5,000, this number drops to 1.5%.

However, if you can easily afford that, go ahead and charge your premium to the card.

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Using the American Express True Cashback Card is pretty easy. Spending $5,000 in 6 months is not difficult; Most monthly premium payments and online shopping will make it easy to hit the limit.

If you want a simple and all-in-one cash-back credit card that you will keep forever, your best bet would be the UOB Absolute Cash-back Credit Card. This card allows premium payments unlike most cards, and you can charge anything to the card and still get an attractive 1.7% cashback – the highest currently on the market. market. If you want to maximize your cashback, consider applying for this card once you’ve reached the $5,000 limit for the Amex True Cashback card above.

Charge most of your expenses on this card – bills, insurance premiums, online purchases, whatever – and then get a refund with your monthly statement. This card is suitable for those who want to avoid headaches and want to use something simple.

Get a S$300 cash credit when you successfully apply for an Eligible UOB Credit Card and spend a minimum of S$30. worth S$1,000 for 2 consecutive months from your card approval date. T&C applies.

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If you find yourself doing a lot of shopping in foreign currencies (e.g., shopping on Amazon USA) and want a card that can pay your bills and insurance premiums, our Platinum Visa Card Maybank is for that.

However, cashbacks are made quarterly and are capped at $100 if you meet the $1,000 minimum spending requirement. This amount is fairly easy to achieve, especially if on a quarterly basis.

This happens all the time – you find yourself shopping in store on Amazon Singapore and you get something you love but it’s only available on Amazon US. Charge that purchase in USD to your Maybank Platinum Visa and then automatically charge your premium on this card. Get $100 in quarterly cashback when the time comes!

Which credit card do you use to pay your insurance premiums? Share this article with your family and friends!

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Sign up for our newsletter for financial tips, tricks, and exclusions that can be personalized to your preferences! Traveling is really a favorite pastime of Singaporeans. A national sport, if you will. However, buying travel insurance for your trip is often not much thought.

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The end of the year is approaching, surely many of us have planned trips. This is what drives us forward – the anticipation of a great beach vacation, a new adventure, or simply precious time with our loved ones. .

Buying travel insurance in Singapore is not an easy thing for many of us. Few of us bother buying travel insurance ahead of time, and much less than finding the best travel insurance in Singapore.

A good travel insurance policy will cover you in a variety of situations from minor inconveniences to the most serious.

It could be something as trivial as your luggage being delayed for a night, so you have to stay a night in the clothes you wore during the flight. Or it can be extremely serious, such as being stung by a severe jellyfish while on a remote island adventure and requiring immediate medical attention.

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Today, almost all travel insurance in Singapore automatically covers COVID-19 coverage. That is, if you contract Covid-19 during your journey, then you will be able to claim your travel insurance.

You should have insurance for everything from lost and delayed baggage, flight delays and cancellations, medical treatment, medical evacuation and even repatriation in the event of serious illness and death. Of course, all of these different situations have different claim limits.

Travel insurance also covers things like refunding your deposit if your travel agent goes bankrupt or if your credit card is fraudulently used abroad. Some policies even pay you if you are kidnapped abroad! And the best part is that travel insurance is relatively cheap and convenient to buy.

With so many different benefits in a single travel insurance plan, it can be difficult to decide if a particular travel insurance plan is worth your money. You should see how much you get reimbursed for normal travel interruptions.

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Travel insurance in Singapore is very price sensitive and sometimes insurance companies can compete to reduce your premium by $1 to make their policy more attractive.

One way to get a decent plan is to see which insurance companies offer travel insurance in the area. For example, if you’re only traveling to Thailand, it’s often cheaper to buy a policy that only covers Southeast Asian countries or ASEAN, rather than a global policy.

However, price is not the only factor – when purchasing travel insurance, consider other aspects of the policy as well.

Buying travel insurance is not the same as buying a “sale” LV bag at Chatuchak market. You don’t just go around looking for the stall owner with the weakest bargaining skills. When it comes to travel insurance, price is not the only determining factor. Especially since cheaper insurance policies often mean less coverage.

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There are many other factors to consider when choosing the best travel insurance other than price. For example, we’ll discuss the coverage you’re eligible for later. It’s also about how quickly your request can be processed. Make sure you don’t have to wait until the next Blue Moon before seeing the results of your claim.

The best travel insurance is the one that gives you the best value for money. For example, let’s say you only go to Thailand for weekend shopping. Maybe you’re traveling light and don’t need more than $3,000 in lost baggage insurance, although you could pay just $3 more for significantly more coverage. Save that $3 and enjoy all the Thai milk tea you can drink!

As we said earlier, you shouldn’t be too stingy and only buy the cheapest stuff. The cheapest can have a lot of terms and conditions when claiming. For example, the insurance company may not cover delayed baggage if it is only delayed return to Singapore. However, if it just inconveniences you

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