4 Benefits of Card Protection Insurance in India

4 Benefits of Card Protection Insurance in India

While demonetisation gave cashless transactions a huge impetus, the benefits offered by debit and credit cards, be it discounts from partners stores, cashback, and other rewards, also contribute to you having more cards in your wallet. However, if your wallet is stolen, there is huge risk as your cards may also be misused. This is where insurance like a Wallet Cover comes into play.

Insurance policies such as wallet care brought to you by Bajaj Finserv allows you insure your entire wallet with added benefits securing the loss of your phone’s SIM card and providing assistance while you travel too.

Ensure you pick the right card protection insurance policy by making a calculated decision. Compare all insurance providers, check if the cover is suitable, and ensure you can meet the annual premium payments with ease. At a yearly premium of Rs.599, Wallet Care protects your wallet in the two most important ways: it is robust in its cover and affordable too!

Here are a few noteworthy points about the Wallet Care cover.

Report or block card theft or loss in a hassle-free manner

Thanks to the systems put in place by this wallet cover insurance, losing your wallet doesn’t have to involve the painstaking process of blocking all your cards individually. When the security of your finances is in question, every minute counts and navigating multiple credit card issuer helplines can be a task.

To report theft and block all the cards, Wallet Care simplifies the process down to a single call, thus ensuring all your cards are blocked within minutes to prevent any misuse. Additionally, this service is available to you 24-hours a day and you can avail the coverage all across the world.

Get comprehensive protection from fraud

A unique and complimentary feature that you can avail of under this card protection insurance policy brought to you by Bajaj Finserv, is the fraud protection cover. If you’re ever a victim of PIN-based fraud or phishing, the coverage you will get in such a scenario is of Rs.1 lakh.

Furthermore, this cover extends over to your digital wallets giving you a fund protection of up to Rs.50,000. To avail of full coverage, you are required to file a report of fraud within 3 days of the occurrence.

Access emergency funds and enjoy protection during travel

Noticing your wallet missing while travelling is a sure-fire way to incite panic. Whether lost or stolen, if insured, you can avail of emergency funds to bail you out of a tough situation and get you back home. Additionally, the policy covers international hotel stay and travel tickets of up to Rs.80,000 and Rs.40,000 for national hotel stay and travel tickets. It also offers emergency cash in India up to Rs.5,000.

Register valuable documents and replace lost PAN card with ease

Nothing screams hassle more than the thought of having to go through government procedures for lost documents. Reapplying for these documents can be a burden you may simply want to avoid, in which case, Wallet Care is right up your alley.

The policy boasts of the feature that enables easy registration of lost documents and free replacement of your PAN card. All you have to do is get in touch with your insurer via their helpline service and begin the process.

Insuring your wallet is just as important as insuring any of your other belongings. Take the time to consider all the options available to you and ensure that it is a comprehensive card protection plan that includes both credit card protection and debit card insurance. In addition, check if you can apply online to secure yourself without much effort. One such online plan is the Wallet Cover brought to you by Bajaj Finserv. This is a pocket insurance plan that offers a wide variety of features at an affordable premium.