Summary: A card protection plan helps you block multiple cards with a single call and replace lost PAN card for free. You also get mobile benefits and complimentary fraud protection.
In the digital era, plastic money in the form of cards (debit and credit) are the way of life. It’s not uncommon for individuals to carry multiple cards in their wallets. However, in an event of wallet loss or theft, the peril of card misuse looms large. A card protection plan relieves you of the stress of calling your card issuer(s) for blocking the cards in an event of a loss. Here are some of the essential aspects you need to know about these plans.
Services rendered by card protection plans
A card protection plan, sometimes known as card protection insurance, allows you to block all your cards at one go in case of a loss. When you opt for this plan, all your card details are with the service provider. You just need to call up your provider to report the loss of card(s). Your provider contacts the card issuing company on your behalf to block your card. Some of the other essential services rendered by these plans are:
– PAN card replacement
A PAN card is essential for availing banking and financial services such as opening an account and filing income tax returns. It also acts as an identity proof. In case you lose your PAN card, replacing it is a taxing procedure. However, new-age card protection plan such as Wallet Care from Bajaj Finserv offers free replacement of a lost PAN Card.
– Emergency travel assistance
Loss of wallet during travel can lead to a lot of stress. A credit card protection plan aids you in such a situation by providing cash advance for hotel stays and booking travel tickets. With Wallet Care from Bajaj Finserv, you can avail emergency cash benefits in India and abroad.
– Mobile benefits
Card protection plans also offer mobile benefits whereby you can avail SIM blocking and IMEI registration service. In case you lose your mobile phone, your service provider would help you in blocking your SIM card and tracking your phone through the IMEI number.
– Complimentary fraud protection
A card protection plan also offers you complimentary fraud protection in case your card is misused. For instance, Wallet Care offers coverage up to Rs.1 lakh against card fraud involving PIN-based fraud, phishing, and tele-phishing.
How to apply for a card protection plan?
Applying for a card protection plan is easy. There are several financial institutions which offer this plan. A card protection plan review would help you make the right choice. Once you’ve decided to opt for the plan, you can make an application online. The card protection plan amount depends on the features offered.
If you want to avail Wallet Care, you can apply online by providing a few basic details and paying the premium amount. You will then receive the Welcome Pack and the membership details in your registered email ID within 3 days.
You can also apply for it from the pre-approved offers section. Pre-approved offers make it easy to avail the product and finance on various loan offerings. All you need to do is to provide a few basic details to know your pre-approved offer.
7 Signs Your Business Face Financial Trouble
Within the last few decades, many companies, from high-profile mainstays to small local businesses, have fallen by the wayside. While some of those closures, administrations, and liquidations come seemingly out of the blue, there are somewhere in actuality the warning signs for the business were there before the final nail was driven in.
Listed below are seven key signs your business is in financial trouble.
Your Cash Flow Is Imbalanced
As the word goes, running a business, “cash is king.” An easy cash flow, where enough arrives to cover your outgoings, is key to keeping your organization operating. However, this flow could be sensitive, especially in small businesses. A supplier or customer perhaps not spending punctually may impact your cash flow, as may premature expansion or overspending in times wherever in actuality the going is good.
Negative cash flow is appropriate in the temporary while a fledgling company sees its legs or in the aftermath of an important expansion. But without positive cash flow, in the future, a small business cannot pay its costs and thus cannot survive. If your fund office is postponing spending its costs or team, it may indicate imbalanced cash flow.
Creditor Pressure Is Growing
The best way to help keep your creditors happy and minimize the pressure on your own company’s shoulders is to cover them on time. If your outgoings outnumber your income, it’s tempting to delay spending invoices. But doing this is just a sure-fire treatment for sour relationships along with your creditors, who may start chasing you for payment.
This may start the slippery slope into further trouble, as they’re likely to carry on chasing you until your debts are paid off. Creditors could even resort to legal action in an endeavor to retrieve their money, and you might wind up facing bailiff action.
You’re Always Refinancing
Refinancing alone isn’t an indication of financial trouble; it is a legitimate way of freeing up cash tied up in company assets by borrowing money secured against an assets’value. It can be used to lessen rates. While refinancing once isn’t abnormal, the business must manage to afford the repayments. If it occurs usually, it could be a sign of higher financial problems, and lenders may become cautious of companies continually refinancing, which may lead to more economic troubles later.
Until you are the main trader, staff are one of the very most vital the different parts of your organization, and employee morale often correlates along with your company’s health. One of the very obvious signs of financial trouble linked to staffing is layoffs and cutbacks in employee benefits, bonuses, or even a pay freeze.
The business could also change its contracts with staff, reduce hours, introduce zero-hour contracts or make staff work more for the same money. Doing so risks souring relationships along with your personnel and could cause to another location point.
Bad Company Atmosphere
Reducing advantages while increasing objectives on personnel will likely result in a bad environment and a drop in work satisfaction. Work can become less of a place of work and more of a place for fighting fires, constantly coping with problems instead of being productive. Team may lock onto that downturn and modify the atmosphere and start causing higher figures, too, taking people back to the last position about staffing issues.
Counting on Individual Contracts or Projects to ‘Sort It Out.’
Whenever a small business is operating healthily, it will have many clients or customers on the books with consistent income. Businesses in a less healthy position might put more weight on the agreements they do have. If one improvements company or stops being fully a regular source of business, the consequences will have an even more detrimental impact.
You could notice the company is relying more on fewer clients or focusing all of its efforts on acquiring new ones to the detriment of those they already have. This could sour relationships with existing customers and be described as a sign the directors are desperate for income.
Your Customers Have Noticed
Clients are very good at spotting when things change, and if they feel they’re getting less while paying the same money, they’re unlikely to stay quiet. If your employees are unhappy, prices suddenly rise, or benefits such as loyalty programs are scale back, rumors may start circulating, customers may start asking whether you’re closing, and in the worst-case scenario, it could get found by local or national media.