Category
Insurance premiums
Life, health and motor premiums. Often excluded outright or capped tightly, so it is worth reading the exclusions on each card.
No card in your wallet earns rewards on insurance premiums yet.
When you add a card that does, it will rank here automatically.
Best in market
Most banks killed insurance earning outright, 17 cards in the catalogue earn nothing on premiums. The survivors either pay a token rate or cap it so tightly that a single annual premium overruns it, so read the caps here rather than the rates. · Top-tier picks from the whole Indian market, researched 11 Aug 2026.
SBI Card PhonePe SBI Card SELECT BLACK
10% on insurance premiums, by far the highest rate anywhere
₹1,499 + GST, reversed on ₹3L a year
Three times the next best rate, and on a card costing ₹1,499 rather than ₹10,000. For a modest premium paid monthly this is comfortably the best card in the market.
The catch is severe and it is the whole story. The cap is 500 reward points a calendar month in its own separate bucket, which is about ₹5,000 of premium. Pay a ₹50,000 annual premium in one go and you earn on a tenth of it.
HDFC Bank Diners Club Black Metal Edition
3.33% on premiums with a cap big enough for a real annual policy
₹10,000 + GST, waived on ₹8L in 12 months
A third of the rate but roughly thirty times the headroom, at 5,000 points a month or about ₹1,50,000 of premium. For a large annual premium paid as a lump sum this earns far more in absolute rupees.
Nothing accrues once the 5,000 point monthly ceiling is passed. The fee is also ₹10,000, so it only makes sense as an insurance card when the travel earning is already paying for it.
Your wallet · Insurance premiums
What this category is actually worth
The same checks as the wallet page, narrowed to all 0 cards that earn on insurance premiums. Set a monthly figure for it in to put rupees on these.
Earnings here
What each card would return on insurance premiums at your spend. raw rates, before caps.
Every card in your wallet is excluded from insurance premiums. See the reasons in the table above.
Milestone progress
Milestones on these cards, against your total spend routed to one card.
None of the cards that earn here has a milestone.
Fee check: does each card pay for itself?
Value is still counted across your whole wallet, not just this category. a card earns its fee wherever it wins. Waivers are not assumed.
| Card | Fee | Value/yr | Verdict |
|---|
Where the market beats your wallet
Your best card against the top pick in Best in market, just above. The numbers only, since the pick itself is already on this page.
No market pick with a comparable rate for this category yet.