Insurance premiums are an endangered species when it comes to earning rewards, with most banks now excluding them. A notable exception is Maybank, and even then, only for two cards: the Maybank Horizon and Maybank Visa Infinite.
However, a recent update to the terms and conditions of Maybank’s TREATS Rewards programme has raised concerns that this exemption may have been removed.
Fortunately, that’s not the case— though the Maybank Visa Infinite has tightened the definition of qualifying spend for airport limo rides to exclude insurance premiums.
Maybank’s new TREATS Rewards T&Cs
First, a bit of context as to what’s getting everyone’s so concerned.
Historically, the rewards exclusions section of the Maybank TREATS T&Cs has read as follows:
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2.2 Transactions charged to a Card which will not be eligible for the awarding of TREATS Points include (but are not limited to) the following: … (d) Payments to insurance companies (does not apply to Maybank Visa Infinite Card for |
However, a new edition (effective 1 March 2025) was recently published, which updates the section as follows:
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2.2 Unless otherwise specified by Maybank herein or elsewhere in the respective Card(s) terms and conditions, transactions charged to a Card which will not be eligible for the awarding of TREATS Points include (but are not limited to) the following: … (e) Payments to insurance companies; |
Note how the caveat “does not apply to Maybank Visa Infinite Card for payments up to S$3,000 per calendar month and Maybank Horizon Visa Signature Card” has been removed. This led some to conclude that Maybank was now excluding insurance premiums altogether, regardless of card.
Fortunately, that’s not the case. If you read the two boxes carefully, the line regarding the Maybank Visa Infinite and Maybank Horizon Card is not the only thing that’s changed. 2.2 now begins with “unless otherwise specified by Maybank herein or elsewhere in the respective Card(s) terms and conditions”.
And if we look at the T&Cs of the Maybank Visa Infinite, we can still find the exemption clause for insurance premiums alive and well, with an explicit mention that this overrides clause 2.2(e) of the general TREATS T&Cs.
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3X TREATS Points, which consist of: (i) the usual 5 TREATS Points awarded to Cardmembers under the TREATS Points programme; and (ii) 10 Bonus TREATS Points, will be awarded for every S$5 spend charged to the Card on Singapore Dollar transactions. 15 TREATS Points (i.e. 3X TREATS Points per S$1 spend, in blocks of S$5) are equivalent to a conversion rate of 1.2 air miles per dollar under the Maybank Frequent Flyer Programme. (For avoidance of doubts, the exclusion (relating to payments to insurance companies) under clause 2.2(e) of the Maybank Year-long TREATS Points Rewards Programme General Terms and Conditions does not apply to this 3X TREATS Points Programme, i.e. payments to insurance companies (up to S$3,000 per calendar month) may be counted for the awarding of 3X TREATS Points herein.) |
You can find similar wording in the T&Cs of the Maybank Horizon, which allow for points to be earned on insurance premiums.
In case there was any remaining doubt, I reached out to a Maybank spokesperson, who confirmed that the exception for the Maybank Visa Infinite (up to S$3,000 per calendar month) and Maybank Horizon Card (no limit) remains.
| ☂️ Earn Rate for Insurance Premiums | ||
| SGD | FCY | |
 Maybank Horizon |
0.24 mpd | 2.8 mpd* |
 Maybank Visa Infinite |
1.2 mpd | 3.2 mpd^ |
| *With a minimum overall spend of S$800 per calendar month, otherwise 1.2 mpd ^With a minimum overall spend of S$4,000 per calendar month, otherwise 2 mpd |
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Cardholders can earn up to 3.2 mpd on insurance premiums, provided they’re in foreign currency. If you’re paying these in SGD, then 1.2 mpd is the most you can get.
Maybank Visa Infinite now excludes insurance premiums for limo spend
While insurance premiums will continue to earn TREATS points with the Maybank Visa Infinite, there is a policy update worth highlighting.
Insurance premiums no longer count towards the S$3,000 minimum monthly spend required to unlock airport limo rides, or PARKROYAL Marina Bay pool and gym passes.
This can be found in section (3) of the Maybank Visa Infinite T&Cs.
| “Eligible Transactions” refer to local and overseas retail purchases, including recurring payments and interest-free instalment payment plans (where only the monthly amount charged to the Card will be counted), but excluding fund transfers, financial charges, late charges, fees and the transactions as outlined in Clause 2.2 of the General Terms and Conditions Governing TREATS Points Rewards Programme. The exclusion (payments to insurance companies) will apply to the Minimum Spend Criteria for Complimentary Airport Limousine Transfer and Day-Pass to Gym and Pool at Parkroyal Collection Marina Bay. |
It’s a bit of an odd situation where insurance premiums earn base TREATS points, but will not be included in the minimum spend for limo rides, but then again DBS has a similar policy with CardUp transactions (they earn base points but don’t count towards the minimum spend for welcome offers).
Conclusion
The Maybank Horizon and Maybank Visa Infinite will continue to earn rewards on insurance premiums, despite the removal of the explicit wording in the general TREATS T&Cs.
However, the Maybank Visa Infinite will no longer include insurance premiums in the minimum spend required to unlock airport limo rides and PARKROYAL Marina Bay pool and gym passes.
On the bright side, insurance premiums still count towards the S$60,000 minimum spend required for an annual fee waiver, so by spending S$3,000 each month you’d be 60% there.
