Insurance premium of Add on card holder
- Thread starter mohit18
- Start date
RitamModak
KF Mentor
Yes, an add-on cardholder can typically pay an insurance premium using their add-on card. However, there are a few things to consider:
Linked Primary Account: Add-on cards are directly linked to the primary cardholder's account. Any payment made using the add-on card will reflect in the primary cardholder's credit card statement.
Allowed Transactions: Most add-on cards have the same transaction capabilities as the primary card, but some banks might impose restrictions on certain types of transactions. Check with the card-issuing bank to confirm if insurance premium payments are allowed.
Spending Limit: If the primary cardholder has set a spending limit for the add-on card, ensure the premium amount fits within that limit.
Billing Name: Some insurance companies require the payment to come from a card in the policyholder's name. Ensure this is not a requirement for the insurance company you're dealing with.
It’s always a good idea to verify with the card issuer or the insurance company for specific policies related to such payments.
Linked Primary Account: Add-on cards are directly linked to the primary cardholder's account. Any payment made using the add-on card will reflect in the primary cardholder's credit card statement.
Allowed Transactions: Most add-on cards have the same transaction capabilities as the primary card, but some banks might impose restrictions on certain types of transactions. Check with the card-issuing bank to confirm if insurance premium payments are allowed.
Spending Limit: If the primary cardholder has set a spending limit for the add-on card, ensure the premium amount fits within that limit.
Billing Name: Some insurance companies require the payment to come from a card in the policyholder's name. Ensure this is not a requirement for the insurance company you're dealing with.
It’s always a good idea to verify with the card issuer or the insurance company for specific policies related to such payments.
There is nothing stopping that. Just ensure that if at all that is being claimed as tax benefit then ensure that the final payment is made from account of add on card holder whether to primary card holder ih he/she has paid whole bill or the add on card holder pays this amount on credit card bill from own bank account
