Card Protection Plan: A Guide About its Features and Benefits

Card Protection Plan: A Guide About its Features and Benefits

Here is a brief look at credit card protection plans that safeguard you against financial losses due to loss of payment cards.

3 mins

A loss of a credit card requires immediate attention as it becomes vulnerable to financial fraud. Thus, lenders offer Card Protection Plan (CPP) that safeguards your financials if you misplace your credit or debit cards. Check out a detailed overview of what the plan brings to the table.

What is a credit card protection plan?

A credit card protection plan is a part of  Card Protection Plan or CPP. It is an insurance scheme that provides coverage against financial losses due to the loss of payment cards and PAN cards. Cardholders can purchase this plan against a nominal yearly premium. CPP helps protect your cards against the risk of loss, fraud, and damages.

Card protection plans also offer other useful features. This includes blocking your card with a phone call, emergency travel assistance, and more. Here is a detailed look at all the benefits that CPP has to offer.

Features and benefits of CPP

The CPP Wallet Care plan provides coverage of up to Rs. 2 lakh, at an annual subscription fee of just Rs. 699. Given below are the features of this card protection plan offered through Bajaj Finance:

• Instant card blocking with a single call

In case your wallet is stolen or lost, you can call on 1800-419-4000 (toll-free number) and get all your cards blocked at the same time. This reduces the hassle to contact multiple banks to get the cards blocked instantly.

• PAN card replacement

The insurer also facilitates fraud protection for PAN cards through immediate replacement along with registration for valuable documents.

• Emergency travel assistance

The plan provides emergency cash assistance if your wallet gets lost or stolen while travelling within the country or abroad.

• Complementary protection against fraud

Apart from safeguarding you against loss of cards, the plan also provides complimentary coverage against fraud, such as tele-phishing, phishing, PIN-based fraud, among others. The coverage amount differs based on the insurer.

• Additional entertainment benefits

Along with offering the above-mentioned benefits, the plan also provides add-on annual subscription of ZEE5.

How to apply for a credit card protection plan

Complete the following steps to apply for your card protection plan.

Step 1: Click on ‘Buy Now’ button on this page.
Step 2: Enter your full name as on your PAN card and mobile number and press the ‘Proceed’ button.
Step 3: Enter the One Time Password (OTP) received on your registered mobile number for verification.
Step 4: If your mobile number is present in our records, your details on the form will be pre-filled and you need to review the details.
Step 5: In case you are a new customer buying the plan, you will need to fill in the details required - name, address, email address, and phone number.
Step 6: Once details are reviewed or filled out, the payment page will open. Complete the online payment via one of the following options: UPI, net banking, credit/ debit cards, and wallet.
Step 7: After the payment is successful, you can download the plan receipt instantly.

Credit card protection plans provide a layer of security for credit card users. These plans offer fraud protection, purchase protection, and extended warranties. With such benefits, consumers can rest assured that their purchases are protected, and their sensitive data are secure. A credit card protection plan is a valuable investment for anyone looking for peace of mind while shopping.


Insurance is the subject matter of solicitation. *T&C Apply - Bajaj Finance Limited (‘BFL’) is a registered corporate agent of third party insurance products of Bajaj Allianz Life Insurance Company Limited, HDFC Life Insurance Company Limited, Future Generali Life Insurance Company Limited, Bajaj Allianz General Insurance Company Limited, SBI General Insurance Company Limited, ACKO General Insurance Limited, ICICI Lombard General Insurance Company Limited, HDFC ERGO General Insurance Company Limited, Tata AIG General Insurance Company Limited, Niva Bupa Health Insurance Company Limited , Aditya Birla Health Insurance Company Limited, Manipal Cigna Health Insurance Company Limited and Care Health Insurance Company Limited under the IRDAI composite CA registration number CA0101. Please note that, BFL does not underwrite the risk or act as an insurer. Your purchase of an insurance product is purely on a voluntary basis after your exercise of an independent due diligence on the suitability, viability of any insurance product. Any decision to purchase insurance product is solely at your own risk and responsibility and BFL shall not be liable for any loss or damage that any person may suffer, whether directly or indirectly. Please refer insurer's website for Policy Wordings. For more details on risk factors, terms and conditions and exclusions please read the product sales brochure carefully before concluding a sale. Tax benefits applicable if any, will be as per the prevailing tax laws. Tax laws are subject to change. BFL does NOT provide Tax/Investment advisory services. Please consult your advisors before proceeding to purchase an insurance product. Visitors are hereby informed that their information submitted on the website may also be shared with insurers. BFL is also a distributor of other third party products from Assistance Services providers such as CPP Assistance Services Pvt. Ltd., Bajaj Finserv Health Ltd. etc. All product information such as premium, benefits, exclusions, sum insured, value added services, etc. are authentic and solely based on the information received from the respective insurance company or the respective Assistance service provider company.

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