Back in the day, for a single withdrawal from the bank, you needed to stand in a queue, fill in the withdrawal form, wait for your chance, submit the form, and then the cashier would give you the money. However, with the rise of technology, this operational hassle has been solved since. You no longer need to stand in queues; you can transact lakhs of rupees sitting at your home with a single click.
That said, the abundance in which we do transactions online these days has exposed us directly to fraudsters. Fraud relating to credit or debit cards are usual now. Unauthorised transactions, tele-phishing etc., are examples of a few frauds you come across daily.
Therefore, to avoid any monetary loss due to these frauds, consider buying these pocket insurance plans:
1. Online Banking Protection
With a single tap today, you can access your account, send, or receive money and even apply for a loan, all thanks to the digitisation of the financial sector. That said, the extensive amount in which we use computers and automation has made us more vulnerable than ever. Every transaction gets recorded along with your data by various parties involved. To safeguard yourself from such threats, taking an Online Banking Protection cover is crucial. The plan provides coverage of up to ₹1 lakh at an annual premium of just ₹177.
2. Cyber Security Cover
In the era of digitalisation, cyber security is one of the primary threats to your privacy. Crimes such as unauthorised transactions or phishing have increased considerably. Owing to this, it becomes essential to protect yourself from cyber-attacks. To safeguard yourself from any economic loss, a Cyber Security cover at an annual premium of just ₹299 is all you need. The plan offers coverage of up to ₹2 lakhs against cyber-attacks, phishing or spoofing via mail or SMS and SIM jacking.
3. ATM Safeguard
ATMs are a straightforward way to withdraw money anytime you need it. However, be extra cautious while using your ATM as it is more prone to various threats like robbery, ATM fraud etc. Thus, to avoid any monetary loss during theft or if you lose your cards, you can take the ATM Safeguard insurance plan. The plan is available at an annual premium of ₹749 and provides coverage of up to ₹50,000. The policy allows you to block your lost card instantly. Emergency travel assistance, coverage for bodily injuries and doctor support are some inclusions of the policy.
4. Identity Assure
There is nothing more threatening than someone stealing your identity. Leaving you in large debts and distressing your credit score are only a few of the frauds from an identity loss. Secure yourself against any monetary loss with an Identity Assure plan available at an annual premium of ₹449. The policy offers coverage of up to ₹1.5 lakhs against legal expenses incurred by you while defending yourself. It allows you to block your lost cards via a call and provides coverage against unauthorised transactions made in your name.
5. Wallet Care
One of the most usual ways of falling prey to financial fraud is losing your wallet. It is not only stressful but also exposes you to various threats like identity theft, stolen cards, etc. You can minimise your financial loss with a Wallet Care plan. The policy provides coverage of up to ₹ 2 lakhs at an annual premium of ₹699. It offers 24*7 card blocking services, Pan Card replacement expenses and mobile sim blocking services. However, the plan does not aid with intentional losses or for losses that occurred under the influence of alcohol.
You can never predict what the future holds for you; in an SOS situation where you have encountered fraud and are trying to resonate with the situation and proceed further, these small-ticket pocket insurance plans can work wonders for you.