What Is a Credit Card Insurance Plan?

A Credit Card Insurance Plan offers financial protection to the cardholder in case of an unforeseen event where the cardholder is unable to repay the credit card bills due to loss of income, disability, injury, or death.·    It also extends its coverage to credit card frauds for both online and offline types of transactions. It may cover frauds like PIN-based transactions, phishing, contactless transaction, tele-phishing, etc.Many plans offer a single-call card block service in case of a credit card theft or loss.For more information visit the link: https://posteezy.com/what-credit-card-insurance-everything-you-need-know Some Credit Card Insurance Plans offer emergency travel assistance (emergency cash in India, emergency advance to hotels, replacement of travel ticket, etc.), subscription to software for internet security, mobile wallet protection, etc.The plan may also offer a free annual credit report analysis service.·        Different banks have different names for this insurance; Card Protection Plan, Credit Shield, Card Safeguard, Balance Protection Insurance, and many more.·        The credit card issuer charges a monthly or yearly fee for the Credit Card Insurance Cover, which differs from issuer to issuer.        It can help you repay your credit card dues on time and maintain a good credit score in case of an unforeseen event. Here are some of the common insurance coverages offered by Credit Card Insurance Plans. However, these benefits may vary from insurer to insurer. Hence, before purchasing the plan, it is advisable to check the features, benefits, terms & conditions, etc., to avoid future disappointment.   

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