Everything you Need to Know About a Card Protection Plan

Plastic money has changed the way we pay for goods and services, and while cards are more convenient, they come with their own share of risks. Losing your debit or credit card, for example, can put your money in jeopardy. This is why it is important to purchase a payment protection plan and secure your cards against theft.

To avail maximum benefits and coverage at an affordable premium, consider applying for Wallet Care brought to you by Bajaj Finserv. With this policy, you don’t have to worry about your cards being misused and can avoid all the stress that comes with losing your debit or credit card. Here’s everything that’s on offer when you buy a card protection insurance.

Block your lost cards with a single call

Losing debit cards and credit cards can expose your money to criminals. However, with a payment protection plan in hand, you can make a single call to the insurer and block all your lost cards. This insurance policy offers worldwide coverage as well, which means that you can block your cards no matter where you lose them, and you can do this within 24 hours.

Replace your PAN card

A PAN card is an important government-issued identity proof. Although losing it may not have direct financial consequences, you run the risk of identity theft. How? Consider this: your PAN number is one of the credentials that you can use to sign into your demat account. In case you lose the card, your investment portfolio is exposed. As a result, a good card protection insurance policy will offer you free PAN card replacement. This helps you avoid the hassle of applying for a new PAN card.

Get emergency travel assistance

A card protection insurance policy also offers add-on benefits that are ideal for frequent travellers. You get a sum that you can use towards travel and hotel stays in case of an emergency. This is available within the country, as well as abroad, up to Rs. 80,000. In addition, the policy also offers an emergency cash advance of Rs. 5,000 for immediate expenses.

Enjoy mobile protection

Apart from cards, this policy protects your mobile against loss or theft. The card protection insurance policy lets you register your SIM and IMEI number so that you can easily access these details and raise a complaint if your phone goes missing. In addition, the insurer also blocks your lost SIM for you.

Get complimentary fraud protection

Finally, the card protection insurance plan offers coverage of up to Rs.1 lakh against card fraud involving the use of your PIN, phishing, and tele-phishing when your card is lost or stolen.

Hence, a card protection plan is extremely useful. So, stop worrying about being stranded without your wallet in case of any loss, damage or theft. By paying a nominal sum of Rs.599 per annum, you can buy Wallet Care, a payment protection plan brought to you by Bajaj Finserv, and enjoy all the aforementioned benefits.