Advantage of Card Protection Plan for 499/year ?

[plastikman]

Is card protection plan for Rs 499 per year worth it ? Has anyone had experience with them ? Does it provide additional cover over the inbuilt card liability insurance?

 

[WhoU]

 

[plastikman]

Hello @TechnoFino . I have Card Protection Plan purchased from Kotak Mahindra Bank for 499 pa provided by CPP Group India. They claim many benefits in case of any fraud or if the cards are misplaced. Fortunately, I haven't needed to claim anything from them but CPP seems to be a frowned upon topic here. Since, my CPP is due for renewal, can you kindly throw some light on it ?

Many seem to be against it since banks unscrupulously sell it as an addon at a very inflated rate.

Please shed some lights on the benefits / disadvantages of CPP.

Regards

 

[plastikman]

Any advice please @TechnoFino