The Indian Railway Catering and Tourism Corporation (IRCTC) is ready to launch the facility of travel insurance for those passengers who book tickets on its website. The passengers will get compensation up to 10 lakhs cover on Travel Insurance at a premium of just 1 Paisa. IRCTC is expected to launch this service from September 1, 2016 as an optional service for all those travellers who will book E-tickets through their online portal. There will be an option of adding Travel Insurance to the E-ticketing system which will just add 1 Paisa to your final payment. After making the payment, passengers need to fill the nomination details which will settle the claims. Many airline services and private Holiday Packages are already offering this service at a much higher cost, but travel insurance at 1 Paisa premium will benefit people of every category.
According to the scheme issued by IRCTC, it will cover almost every incident in train including robbery, train accidents, terrorist attacks, rioting, and shoot-out as well as for short termination or diverted routes.
This scheme offers Rs 10 lakh compensation to the families in permanent total disability or the case of death, Rs 7.5 lakh for permanent partial disability, up to Rs 2 lakh for hospital expenses and 10,000 for any other injury or incidents.
Train accident cases will be handled as per definition under Sections 123, 124 and 124A of the Railways Act, 1989.
- The insurance claims will be valid within 4 months of the event. Any claim made after 4 months of the event will not be entertained.
- After receiving the details, Insurance companies have to start the process and have to pay the money to the claimant within 15 days.
- On ticket cancellation by the passenger, the premium amount will be refunded back along with the reservation refund amount.
- The coverage will be valid from actual departure of the train from the originating station to actual arrival of the train at the destination.
This travel insurance scheme won’t decrease the threat of unsafe journeys in Indian railways but at least will make you feel less INSECURE.