Every year, there seem to be growing instances of fraud worldwide, with more and more individuals getting caught up in these scams. Whether it is a 90-year-old grandma or a 30-year-old exec at a software company, scams have become so polished and elaborate that today, anyone can get caught in this web.
According to a recent report by the National Cybercrime Reporting Portal, an online portal managed by the Ministry of Home Affairs, Indian citizens suffered losses exceeding Rs 1,750 crore due to cybercriminal activities in just one quarter(January- April 2024). There are growing concerns by both the police and regular citizens about how to deal not just with these scams but also their aftermath. Imagine losing your entire life’s savings to scams or facing one of these “digital arrests.” It is essential to take precautions, prevent these scams from happening, and consider a way to secure your wallet from fraud.
This is where Stashfin’s wallet protection plan can secure your wallet for up to ₹2,00,000 and offer many other benefits. Keep reading to find out all you need to know about wallet insurance.
What is a wallet protection plan?
A wallet protection plan is a type of insurance that protects your physical and online wallet against scams and fraud for a nominal amount. Not only this, but it also offers an option to block all lost cards using a single phone call, protection from ATM phishing, physical card swipes, etc.
Have you ever felt that unsettling feeling whenever making a payment, whether the money has gone to the right account, whether the money is how much you wished to pay, or did you added an extra 0 in the end? Well, all of this fear has become increasingly common as, in recent years, every transaction has become digital, and even a single incorrect digit can send not just ₹100 but ₹1000 or ₹1,00,000.
To protect you in this situation, wallet insurance from Stashfin also secures you from transactions made using UPI and m-wallet.
What are the other types of plans to protect your finances?
In addition to wallet protection, Stashfin offers a loan protection plan, pocket insurance, home insurance, travel insurance and various other types of insurance to protect your finances. Stashfin’s loan protection plan provides complete protection of outstanding loans of up to ₹1,00,000 in the form of EMI protection insurance while offering emergency trip assistance in India and abroad.
How do you get the right wallet protection plan?
Stashfin is a highly trusted name in the finance sector, with over 1.5 million customers. It has partnered with OneAssist, a fintech company that deals in insurance, to offer its plans to benefit its customers further. Stashfin offers hassle-free claims processing with just a single phone call, 12 months of wallet insurance upon activation, 24×7 support to report fraud, and more.
In addition to all of the benefits and protection Stashfin offers, it also provides a free annual subscription to ZEE5, which is worth more than the plan’s cost. So, you are not only financially secure but also get to enjoy a year-long subscription to a leading Indian OTT platform.
What are the necessary documents to submit a claim request?
If you have suffered a loss due to card fraud, wallet loss, or a UPI transaction scam, you need to follow a claims form, which can be downloaded from the Stashfin website, and submit the following documents.
- Claim form duly filled & signed by the customer
- F.I.R. or intimation copy issued by the police in case the fraud value is over 5000/-
- Confirmation for blocking the M-Wallet/UPI account
- Bank Statement indicating the fraudulent transaction
- Correspondence with the bank on the fraud, including a dispute letter submitted to the bank
- Any other document(s) as may be required by One Assist/Insurer about the claimed loss
Conclusion
Invest in securing your finances from unexpected losses and ensuring optimal security with Stashfin’s wallet protection plan. Now, you can travel freely and transact without fear of getting caught up in a scam, as you have a safety net to protect not just your wallet but also your financial security from significant losses.