What is the OneAssist UPI Protection Program?

 

Cyber crimes are becoming increasingly common these days with close to 53,000 cyber crimes being reported in 2021 alone. With such frauds being commonplace now, you need a backup that can compensate you or provide you with coverage due to UPI frauds born from online thefts, hacking or even personal negligence.

 

Hence, to offer a sense of security and protection, Bajaj Markets present to you the UPI Protection Program by OneAssist. This plan can provide you with UPI and card fraud coverage up to ₹10,000, coverage up to ₹40,000 for emergency accommodation/travel, and card-blocking facilities all at a nominal premium price starting at ₹599 (inclusive of GST).

Key Features of the Financial Protection Program

Given below are the key features of the UPI Protection Program from OneAssist for your perusal:

UPI Protection

In case of any UPI-related losses occurring due to fraud or personal negligence, you can claim up to ₹10,000 as coverage.

Accommodation Assistance

If you happen to be away from home at the time of the fraud, you can claim accommodation coverage if need be.

Travel Assistance

If you have no access to your funds in case of estrangement at the time of the financial fraud, this policy can help you with a coverage amount to travel back home.

How to Apply for the UPI Protection Program

You can follow the steps given below to purchase the OneAssist UPI Protection Program at Bajaj Markets.

  • Click on 'Buy Now'

    Select ‘Buy Now’ to purchase theUPI Protection Program by OneAssist.

  • Fill in Relevant Details

    Enter the details asked of you in the application form.

  • Complete Premium Payment

    Pay the premium amount which starts at ₹599 only (All inclusive)

Eligibility Criteria

To be eligible for the Financial Protection Program and its benefits, you are required to meet the following standards:

 

  • The minimum age for eligibility is 18 years.

  • You have to be an Indian citizen.

What's Covered?

You can find below a detailed explanation of all the coverage and benefits you can claim through the UPI Protection Program.

 

  • UPI Coverage

UPI allows you to directly make online payments from your bank account through apps such as Google Pay, Paytm, etc. For any cyber frauds such as negligence by submitting passwords to fraudulent entities or someone hacking your online payments account, you will be entitled to coverage of up to ₹10,000 under this benefit.

  • Digital Theft

You can get up to ₹10,000 of the sum insured for digital thefts. These digital thefts include scenarios like you being cheated into sharing your UPI or mobile wallet pin or password. This will be considered a cyber/financial fraud.

  • Card Fraud Protection

Under this benefit, you can claim coverage of up to ₹10,000, through the UPI Protection Program by OneAssist. This can be against online frauds, phishing, skimming, counterfeit cards, ATM frauds and physical card swipes.

  • Mobile Wallet

Your mobile wallet is a digital space where you can transfer a certain amount of money from your bank account for online transactions. For any cyber frauds such as hacking your online payments account or cheating you into submitting passwords, you will be entitled to coverage under this benefit.

  • Multiple Claim Coverage

Let’s assume that your first claim did not utilise the entire insured amount, or that you require coverage from two or more benefits under this policy. In this case, you can make as many claims within a policy year as long as those claims remain within the limits of the total sum insured.

  • Emergency Ticketing Assistance

If you are on the receiving end of online financial fraud in a region away from home, you can get emergency ticketing assistance through this policy. You can claim up to ₹40,000 for travel tickets to make your way back home in the event of insufficient funds due to loss of money.

  • Hotel Assistance

In the event of experiencing financial losses in lieu of a cyber crime committed against you, you can claim financial assistance from this policy for accommodation needs. You can claim up to ₹40,000 under this benefit of the UPI Protection Program by OneAssist.

    Policy Plan Details & Specifications

    In the event of experiencing financial losses in lieu of a cyber crime committed against you, you can claim financial assistance from this policy for accommodation needs. You can claim up to ₹40,000 under this benefit of the UPI Protection Program by OneAssist.

     

     

  • Premium for the Financial Protection Program: ₹599 (GST included)

     

Benefits

Coverage

Blocking assets such as cards, UPI and m-wallets

Yes

Card Fraud Protection

Up to ₹10,000

Mobile Wallet and UPI fraud

Up to ₹10,000

Emergency Hotel Assistance

₹40,000

Emergency Ticket Assistance

₹40,000

 

 

How to Make a Claim

 

To claim the benefits and coverage provided by the OneAssist, you can follow the instructions given below.

 

  • Step 1 - Contact OneAssist to file a claim. You can call their toll-free numbers: 18001233330/8080333333
  • Step 2 - Request a registration for your claim and provide the on-call executive with information as asked
  • Step 3 - You will receive an email consisting Service Request details and a checklist of documents that you need to submit
  • Step 4 - Submit the documents at walletassist@oneassist.in within 25 days of the claim
  • Step 5 - You will receive a follow-up email confirming your claim and the status of your claim will be sent to you within 7 days
  • Step 6 - You will be asked to submit a Bank Non-reversal Letter if your claim is approved
  • Step 7 - You will receive your coverage through a direct bank deposit from the insurer

 

*You are required to inform OneAssit about your financial loss within 24 hours of discovery for the claim to be registered.

Documents Required to Make a Claim

 

You might need to submit the following documents as part of the claim process under the UPI Protection Program by OneAssist.

 

  • Complete claim form
  • 3-month bank statement/digital wallet statement that reflects the fraud amount
  • Acknowledgment of Intimation to police authorities
  • Bank/Mobile Wallet provider’s confirmation
  • SMS or e-mail confirmation of the transaction/fraud
  • Identification proofs
  • Cancelled cheque with pre-printed name of account holder/Self-attested copy of Bank Passbook/Self-attested copy of Bank Statement
  • In case of mobile wallet fraud, a SIM card barring acknowledgement from telecom service provider
  • Acknowledgement from bank confirming non-reversal of transaction

 

*Please note that full clarification on the nature and number of documents required will be provided to you via an email sent to you by the insurer. Duly submit the documents required as per that list.

Customer Care Details

 

You can contact Bajaj Markets by writing to insuranceconnect@bajajfinservmarkets.in if you have any queries or questions.

What’s not Covered?

Given below is a breakdown on all that is not covered by the UPI Protection Program by OneAssist :

  • Cash Protection

If the theft involves a loss of physical money such as cash, currency or an equivalent of the same, the loss incurred will not be covered by this policy.

  • Loss of Physical Assets

If physical assets such as a laptop, a mobile phone, cards and other such monetary objects are stolen, the financial loss incurred in this situation will not be given coverage.

 

  • Lotteries/Dishonest Incentives

Any fraudulent payments surrounding lotteries, unexpected acquisition of wealth, or any dishonest incentives of this nature will not be covered under the UPI Protection Program by OneAssist.

 

  • Pre-existing Theft

If the theft or financial fraud has occurred before policy purchasing, no coverage claims will be considered in this respect.   

 

*Please, read the policy document carefully for other terms and exclusions before purchasing the policy.

Frequently Asked Questions on UPI Protection Program

  • ✔️Will this policy help me get home if I am stuck in another city?

    Yes, the Financial Protection Program by OneAssist can offer you up to ₹40,000 to help you travel back home should there be a lack of funds due to financial fraud.

  • ✔️What if I give my account password to someone but get cheated financially?

    In cases like these, you can submit a claim request to OneAssist. You can also request the insurer to block your credit/debit cards that are associated with your account. You can claim up to ₹10,000 under this policy.

  • ✔️Is there a phone number where I can contact OneAssist?

    You can call OneAssist at 18001233330 or 8080333333.

  • ✔️When can I make a claim under this policy?

    Once the financial fraud has occurred, it is imperative for you to inform OneAssist about it within 24 hours of discovering the fraud. 

  • ✔️What is the maximum coverage I can receive?

    You can receive up to ₹40,000 for emergency travel or hotel assistance. 

  • ✔️Will my cash stolen at an ATM be covered by this policy?

    No, physical money such as cash stolen during an ATM robbery will not be covered under this policy.