Suppose you are carrying multiple credit/debit cards in your wallet and lost it then what will be your situation? It may happen to all of us. It is such a situation that scares all of us as lost cards may be utilized to any extent causing huge financial burden. The solution to this will be having an insurance cover for your debit or credit cards from the Card Protection Plan.
This plan is best suitable for persons who uses multiple credit/debit cards, keep all of them in their wallet all the time, frequent traveler or chances of losing/misplacing are high. CPP or Card Protection Plan is a comprehensive plan which protects card in the event of card loss, theft and related fraud. This product is designed to help you safeguard all your Credit, Debit and ATM Cards. If you loss the card then you can use their 24 hour helpline number and inform the same. Once you report them then CPP will inform all card issuers to cancel the cards as they lost. Let us see few benefits of this service.
Benefits-
- One call is enough to block all your cards.
- If you are registered your car or bike break downs, CPP will assist by providing roadside assistance service. But do remember that this service will be available with selected cities in India and also within 50 km range of cities.
- In case you lost the cash along with cards then CPP will provide you the emergency cash assistance of Rs.20,000. This advance is interest free and you need to repay it within 28 days.
- In case you lost the PAN card along with cards then CPP will facilitate free PAN card replacement. They will coordinate on behalf of you in getting PAN card.
- If you register your mobile phone with them and you lost then CPP will help you in blocking SIM.
Few Conditions you must know-
- This facility is available to Indian resident whose age is above 18 years.
- You need to report of loss within 24 hours of discovering the card loss.
- You can cancel the service within 30 days of buying. If you do so then they will refund the amount.
Plenty of Indian Card issuers have tied with CPP and few of them are as below.
Currently CPP offers three plans which are called 1) Classic-Rs.1,145+Taxes, 2) Premium-Rs.1,495+Taxes and 3) Platinum-Rs.1,745+Taxes.
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