Insurance; Card Protection Plan; Debit and credit cards should also be insured, card theft or lost will not result in financial loss | Debit and credit cards should also be insured, card theft or lost will not cause financial loss

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  • The card protection plan includes a credit card and debit card as well as stores, loyalty, Aadhaar, PAN cards.
  • After losing the purse, you will not have to call different banks to block every card.

Daily newspaper

Jul 14, 2020, 10:20 AM IST

new Delhi. In today's era of digital banking, most people have credit card, debit card, retail store card, loyalty program card and Aadhaar card. People keep them in their purses with them, but imagine what you will do if your purse is lost or stolen. We will block the cards by calling in different banks, apply for new cards. You can take a card protection plan to avoid this hassle and to protect your life-long deposits and identity. We are telling you about the Card Protection Plan (CPP).

What is a card protection plan?
Card protection plan is a kind of card insurance. This includes credit card and debit card as well as store, loyalty, Aadhaar, PAN card. All banks provide protection plans to their customers. This plan has to be renewed by paying a small annual premium. After losing the purse, you will not have to call different banks for each card. All cards will be blocked simultaneously by calling only one number. This helps to block the card at the right time.

Financial help will be given on losing purse
If your purse is lost while traveling or traveling, then this protection plan will cost your hotel. If tickets are also lost in this situation, it also helps in getting a new ticket in lieu of that. However these services also depend on the schemes of the banks. CPP also helps in advance cash. This service is especially helpful when you are traveling in the country itself. You also have to return this amount within 28 days after getting help.

Your data is safe
It consists of registration of Aadhaar card, PAN card, passport, driving license, insurance documents etc. Their information is kept safe in the system which comes in handy when needed. Apart from these, if your mobile is lost or stolen, then with the help of this plan you can complain about it. The bank also has the IMEI of your mobile phone with the help of which the mobile is detected from the mobile network or the SIM is blocked.

How much will you get this plan?
The plan can be availed from card protection company, banks and credit card issuing companies like SBI, ICICI Bank, Axis Bank, IndusInd Bank and Kotak Mahindra Bank among others. For this plan, you have to pay from 1,600 to 2,500 rupees annually.

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