Do you know that the Railways has a scheme that offers travellers an insurance cover of up to Rs. 10 lakh per person on online train ticket booking?
If you book the ticket through the IRCTC website, you can opt for travel insurance cover for a premium of just 92 paise. Yes, the insurance costs less than one rupee. All passengers holding tickets such as confirmed, RAC or waitlisted tickets can opt for it. The scheme was launched by the Railways in 2016, and is available to all passengers, excluding those travelling by suburban trains irrespective of the class. Children up to 5 years of age and foreign citizens are also exempted from the policy.
As per the scheme, the traveller or the family members of the travellers can claim a compensation of Rs. 10 lakh in the event of death or total disability, Rs. 7.5 lakh for partial disability, up to Rs 2 lakh for hospitalisation expenses and Rs. 10,000 for transportation of mortal remains from the place of a train accident or where an untoward incident, including terrorist attack, dacoit, rioting, shootout or arson, occurs.
However, no refund of the premium will be given in case of cancellation of the ticket. The scheme is being implemented by IRCTC in partnership with ICICI Lombard General Insurance, Royal Sundaram General Insurance and Shriram General Insurance selected through a bidding process. The three selected insurance companies will get to issue the insurance policy on a rotational basis through an automated system.
