Should I pay insurance premium yearly or monthly if I am considering using Cardup payment method to earn miles?

Generally, for insurance premiums, paying annually is cheaper than monthly.

However, if you are looking to hit minimum monthly spending to hit cashback benefits or, in this case, earn miles, payment on a monthly basis might be an option to consider. One thing to note is that you should ensure the benefits is worth the increase in expense.

At PolicyPal, you can pay for your insurance premium with CardUp as well. Do check out this blog article to find out more.​​​

Hi anon,

I think the first question here is to calculate your CPM or your cost-per-mile, if you are earning miles at a rate better than, say, 1.8cpm, then you should go for it, as you would expect to redeem these miles for experiences worth between 3-5 cpm in value later on. For more info on valuation of miles, please refer to the milelion website (https://milelion.com/airlines/what-is-the-value...) Once it becomes worth it, read on, if not, continue to pay cash.

Paid monthly, you will end up spending more on your premiums than if you pay annually, regardless of method of payment. If you calculate that paying monthly with card up still leads to a lower than 1.8 (or whatever your threshold is) cpm compared to yearly via cash, then cardup is probably something that you can do.