Growth in technology-driven financial transactions has also increased the risk of getting duped by fraudsters. However, with an effective Cyber Insurance policy, you can get yourself covered against fraudulent transactions, phishing and other cyber-attacks. This multi-beneficiary cyber insurance plan is available at the portal of Bajaj MARKETS, starting at just Rs.299. You can purchase this policy from this portal at an affordable membership charge.
Let’s know the details of this pocket insurance along with its benefits, coverage, application procedures, inclusion/exclusion, etc.
Here are the features and benefits of this Cyber Insurance plan:
The application process is simple and hassle-free. All you have to do is follow a few simple steps to get covered:
Insured individuals must be under the age group of 18 to 60 years to be eligible to purchase this pocket insurance policy.
The cyber security insurance policy gives the following coverage to insured individuals:
The policy covers your monetary loss owing to unauthorised transactions to a third-party account from your registered account. Here are three modes of financial fraud against which you get the coverage:
In this type of fraud, the scammers get unauthorised access to your computer system. This way, they steal your important data from your computer to a third-party system without your authorization. Fraudsters use all the stolen information to transact the amount from your account.
You fall into the trap set by fraudsters through emails, calls, messages and links and end up providing sensitive information. By getting your confidential credentials such as card details, usernames, and passwords, scanners steal money from your accounts without your authority.
The defrauder takes your SIM card without your knowledge and uses that for financial transactions.
So, through this cyber insurance coverage, you can get the much-needed financial help and secure your hard-earned savings.
Here is all your need to know about this policy:
You can get financial coverage up to Rs. 2 lakhs against this cybercrime insurance policy.
The cost of this pocket insurance starts from Rs. 299.
However, the policy comes at a different price range that influences the maximum coverage amount, as mentioned in the table below:
Rs. 1 lakh
Rs. 2 lakhs
Individuals must be 18 to 60 years old.
Here are all the circumstances under which you cannot get the policy benefits:
The insurer will not cover the financial losses involving physical money. In fact, physical cash debited from ATMs also remains uncovered under this plan.
You cannot claim coverage if your lost card and smart devices are used for encashing amounts without your approval.
You cannot get coverage against this pocket insurance if the financial loss results from your negligence in protecting your confidential information.
The insurer is not liable to cover the financial losses associated with purchase/dealings/sales of commodities, currencies, securities, crypto and non-fiat currencies, etc.
Claim against planned or premeditated financial loss with the purpose of getting coverage is illegal. Policyholders will not get coverage under this circumstance.
You can file a claim against this cybercrime insurance policy in the following ways:
You can request policy coverage through the official website of Bajaj Allianz.
You can also dial 1800-209-5858 to request the policy coverage.
Send an email to email@example.com to claim coverage.
Here are all the documents you require during the claim process for this cyber risk insurance plan:
Duly filled-in claim form
Credit or savings account statement as proof of the fraudulent transaction.
Apart from these, you may need to provide additional documents during the claim in order to prove your fraudulent financial transactions.
If you have any queries regarding this Cyber Insurance policy, feel free to connect at firstname.lastname@example.org
Cyber security insurance gives you coverage against the financial losses caused due to data theft, security breach, phishing attacks, etc. As cases of these frauds are increasing every day, you may need a hedge against these sudden unauthorised financial attacks. Cyber Security insurance gives you substantial financial coverage against these attacks.
You can buy Cyber Security insurance by paying through mobile wallets, UPI or credit/debit cards.
No, you cannot get any coverage if you fall victim to unauthorised usage of your debit card for withdrawing money from ATMs.
In order to be eligible for availing of the policy, you must be in the age group of 18 to 60.
Yes, you must inform the nearby police station and file an FIR about the unfortunate incident. You need to submit a copy of this report while claiming coverage.