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It means that the points you earned from e-voucher can be can be converted as cash to pay for the premium for X insurance products.

Generally, it would also say that how many points will you certain amount of cash e.g. one point equal to one currency unit or 4 points equal to one currency unit.

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Q: What is the meaning of 'redeem liability '?
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Redeem means to get something back for something you have: He had enough coupons saved to be able to redeem the toy that had been advertised. See the related questions below for other examples.


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The state of being liable; as, the liability of an insurer; liability to accidents; liability to the law., That which one is under obligation to pay, or for which one is liable., the sum of one's pecuniary obligations; -- opposed to assets.


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