IRCTC: 10 Lakh Accident Insurance for Rs. 10 | Fusion - WeRIndia

A new scheme is being planned by Indian Railways. They are planning to start a voluntary passenger insurance scheme from September this year. This new insurance scheme is to help even the poorer passengers.

In this insurance, the passenger has to pay the premium of just Rs. 10 per ticket to get an insurance cover of Rs.10 lakh. The insurance covers death or permanent disability caused in a train accident. In case of partial disabilities or injuries, the insurance provides a cover of Rs. 7.5 lakh in case of partial disabilities or injuries. In case of hospitalization, the insurance provides cover of Rs. 5 lakh and for the purpose of transportation of mortal remains, cover of Rs. 10,000 is provided.

Passengers can book this insurance scheme if they are interested. It is completely optional. They will be able to use this option at the time of booking tickets. In order to launch this plan, Indian Railway Catering and Tourism Corporation (IRCTC) already shortlisted 17 insurance companies. Three of these companies are expected to be selected.

The plan to launch a passenger insurance scheme has been announced by Railway Minister Suresh Prabhu himself. IRCTC will first launch this scheme on a pilot basis for passengers booking their tickets online.

However, they are planning to expand this scheme to those booking tickets from counters or travelers with monthly season ticket as well. They are also planning to increase the amount of coverage from Rs. 10 lakh to Rs. 50 lakh based on initial review.

According to a senior official of the IRCTC, the passenger can opt for insurance or not while booking e-tickets. It is not mandatory at all. He also said that the premium can be varying based on the duration of journey or distance of journey. He said that IRCTC is currently in the process of finalizing companies for the scheme. Once they are confirmed, the technicalities of insurance coverage will be worked out, he said.

Photo by Ankush Minda on Unsplash (Free for Commercial Use)

Image Reference: https://unsplash.com/photos/7KKQG0eB_TI