Recently, Insurance spending has been excluded as eligible for earning rewards points. Few Credit Cards have restrictions on the number of rewards points earned in a single day or month. Even most American Express Credit Cards do not earn membership rewards points on Insurance Spending. However, Amex Insurance Offer is launched annually, which remains open for a few days. During the Amex Insurance offer, you can earn Membership Rewards Points on Insurance Spending.
Here is the detail and how to maximize the benefits.
Amex Insurance Offer Details
With the Amex Insurance offer on payment of the Insurance Premium, you can earn 10,000 Bonus Membership Points. No other points except these bonus points will be credited except for milestone-related ones.
Summary of Amex Insurance Payment Offer:
| Offer | Get 5 MR Points on every Rs. 100 Spent |
| Eligible Spending | Spending on Insurance Merchant Code |
| Maximum Points | 10000 Membership Rewards Points |
| Time Period | 22nd December 2022 to 31st March 2023 |
| Requirement | Enrollment Before Spending |
| Availability | Available only for the recipient of the email |
| T&C | Check here for detailed terms & Conditions |
Note: The bonus points for this offer will only be credited if payment has been made with an Insurance Merchant. If you pay through third-party apps or wallets, check if the payment will be informed to AmEx as payment with Insurance Merchant. However, the best way would be to make payment directly on the website of the Insurance Company.
How to Maximize the Amex Insurance Offer?
There are two ways to maximize Insurance spending. At present, American Express is running another offer which is a spending-based offer. If you have not already exhausted the spending limit of that offer, then it can be really rewarding to combine these two offers.
Existing Offer Details:
| Offer | Get Rs. 5000 worth of Voucher on Spending Rs. 1 Lacs |
| Eligible Spending | Anywhere |
| Time Period | 3rd December 2022 to 10th January 2023 |
| Requirement | Enrollment Before Spending |
| Availability | Available only for the recipient of the email |
| T&C | Check here for detailed terms & Conditions |
So, if you combine these two offers, then you get the following value:
- Bonus Membership Rewards Points: 10000
- Value of Bonus Membership Rewards Points: Rs. 5000
- Rs. 5000 Voucher
- Total Value Benefit: Rs. 10000
- Return: 5%
In days where there is no benefit on payment of Insurance premiums. These offers give value back of 5%, which is excellent.
Milestone Related Benefits
The spending under the Amex Insurance Payment offer is considered for calculating milestones. So, if you have an American Express Platinum Travel Credit Card, you can reach the Rs. 1.90 lacs milestone with this offer. You will get 15000 additional membership rewards points. In this, the insurance spending return will increase to 8.75%. Isn’t that great?
Read: Amex India Current Offers
Bottomline
Amex Insurance offer is excellent as you achieve a minimum reward rate of 2.5%. If you combine it with a milestone-based amex card and an ongoing spending-based offer, the reward rate is further increased to 5%, which is excellent. This indeed is an excellent offer for Indians who have big Insurance Spends.
