Credit Cards with CFAR travel insurance: Here's why you need it​

Meet Rahul and Aman, two friends who have just excitedly mapped out their dream vacation. Yet, just days before their long-awaited departure, Rahul faces a family emergency, and Aman is caught up in unexpected work commitments. They are faced with a difficult choice - whether or not to proceed with their travel plans.

Enter Cancel For Any Reason (CFAR) travel insurance—your solution in moments like these. When we consider travelling, we focus on the exciting destinations, the sights to see, and the memories to make. But life happens and disrupts plans! Amidst these uncertainties, CFAR travel insurance acts as a safety net.

Let’s understand what CFAR is and why you should consider it.

What is CFAR Travel Insurance?
 

Cancel For Any Reason (CFAR) travel insurance is more than just a safety net. Unlike standard travel insurance plans, which only cover specific cancellation grounds, this one takes it a step further. With this supplementary coverage, you can cancel your flight and hotel bookings for any reason. You will still receive a refund for a portion of your prepaid, non-refundable expenses.

Why You Should Not Ignore CFAR Travel Insurance
 

The importance of CFAR travel insurance can be summed up with the following benefits:

• All-Round Protection: CFAR travel insurance shields you from unexpected events that are not usually covered, such as:
  • Change of mind
  • Personal reasons, such as illnesses and family emergencies
  • Work commitments
  • Natural disasters, political unrest, and lockdowns
  • Change in relationship status with a travel partner
• Protection Against Financial Losses: Cancelling due to unforeseen circumstances doesn't mean losing money; a significant part of your expenses gets reimbursed, which eases the financial burden.
• Flexibility: As CFAR travel insurance covers any reason for trip changes, it extends flexibility while making your plans and, ultimately, provides peace of mind.

You can unlock these benefits with the exclusive Mayura Credit Card, an excellent travel companion.

Considering a Credit Card with CFAR Travel Insurance?

If you are considering a credit card with CFAR travel insurance, the Mayura Credit Card is a perfect choice. This premium metal credit card offers a range of features that make it the ideal companion for those seeking luxury with travel protection. The Mayura Credit Card provides CFAR travel insurance of up to ₹50,000 twice a year, along with a host of other benefits, including:

• Welcome Benefits:
  
  Cashback of up to 4,000 as welcome benefit upon meeting the specified spend criteria
• Zero Forex Markup Fees
  
  You pay no foreign exchange fees when you use your card for any international purchase.

• Comprehensive Travel Insurance:
  
  The Mayura Credit Card comes with comprehensive coverage, including:
  
  

  o    Air accident insurance up to ₹1 crore

  o    Loss of Checked-in Baggage: USD 500

  o    Delay of Checked-In Baggage: USD 100

  o    Loss of Passport and other documents: USD 300

  o    Delay in Flight: USD 300

  • Reward Points:
    
    The card rewards you with 5X Reward Points for all spends below ₹20,000, and 10X Reward Points on spends above ₹20,000 and on your birthday
    
    
  • Milestone Rewards:
    
    Spend ₹8 Lakhs in the previous card anniversary year and get 7,500 Reward Points (worth ₹1,875). Alternatively, spend ₹15 Lakhs in the previous card anniversary year and get 15,000 Reward Points (worth ₹3,750). The reward points are credited each time you renew your card.

  How to Avail of CFAR Travel Insurance?
   

  Should the need arise, the Mayura Credit Card enables you to cancel travel bookings and get reimbursed up to ₹50,000, twice a year, for non-refundable flight and hotel cancellations. As long as you make travel arrangements using the card, you can avail yourself of the eligible coverage amount for a maximum of two transactions annually.

  The Takeaway
   

  
  Even the best-laid plans can go awry sometimes due to life’s unpredictable nature. With the Mayura Credit Card, you can access CFAR coverage and make travel decisions without losing your hard-earned money due to unexpected surprises. Don’t let uncertainties hold you back—invest in the Mayura Credit Card and its benefits for your next trip!

   

  Disclaimer
  

  The contents of this article/infographic/picture/video are meant solely for information purposes. The contents are generic in nature and for informational purposes only. It is not a substitute for specific advice in your own circumstances. The information is subject to updation, completion, revision, verification and amendment and the same may change materially. The information is not intended for distribution or use by any person in any jurisdiction where such distribution or use would be contrary to law or regulation or would subject IDFC FIRST Bank or its affiliates to any licensing or registration requirements. IDFC FIRST Bank shall not be responsible for any direct/indirect loss or liability incurred by the reader for taking any financial decisions based on the contents and information mentioned. Please consult your financial advisor before making any financial decision.