Know Everything About "Card Protection Plan"

Card Protection Plans have gained immense popularity over the years owing to the rapid digitization which has compelled everyone to carry debit/credit cards everywhere. Any loss of these cards can lead to serious issues of card frauds and banking thefts; therefore, it is important that you have a card protection plan in place which provides financial cover and immediate assistance to you in case you lose your wallet carrying cash, debit/credit cards, and other important documents.

The card protection plan by Bajaj Finserv is your best friend in case you lose your cards/wallet. The premiums are extremely affordable with high coverage. You can get coverage up to Rs. 2,00,000 at a premium of Rs. 699. The plan offers the following benefits-

The primary form of assistance that you would require in case of card/wallet loss, is to block all your debit/credit cards. In today’s world, we carry around 3-5 debit/credit and calling each bank to block your cards will be a tedious and time-consuming task especially in a situation where you have just lost your wallet/cards. But with an insurance cover all you will have to do is call your insurer and they will take it from there. They will call all your banking service providers and get your cards blocked.
The plan will provide a coverage of up to Rs. 2,00,000 against any form of financial loss due to card frauds or online frauds. This is applicable in case your card is stolen/lost. But in case your card is not stolen and is present with you, one can still get a coverage of up to Rs. 1,00,000 as per the policy terms.
Process for re-application of lost documents is also carried out by the insurance provider. For instance, you have lost your PAN Card/Aadhaar card etc., the insurer will take care of applying for the documents again.
Another benefit includes emergency travel expenses to help you reach a safer place in case you were travelling.

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