Buying Tickets Online On IRCTC Can Get You This Insurance. Here’s How

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The Indian Railways is one of the largest organization in the country, in addition to being the largest employer. It’s fascinating to see how each facet of the organization runs like a well-oiled engine.

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This makes the country’s railway organization one of the best in the world.

Railway tickets are booked in thousands, if not lakhs, every day on its website. It is unsurprising to be on the waiting list when you book a ticket.

With rising number of railway incidents, several concerns have been raised over the safety of passengers.

Many would not be aware that the Indian Railways offers insurance to its customers. That’s right. The organization gives an accidental insurance worth Rs.10 lakh to customers who book tickets on the web portal- IRCTC.

In a bid to help its passengers, the Indian Railways had launched an Optional Travel Insurance. The plan will come into effect on August 1st, 2018. The premium is of Rs.0.92 per passenger.

Under the scheme, the sum assured is paid to the victim/family or legal heir of the victim, as the case may be, in case of death/injury of reserved passengers due to train accident/untoward incidents as mentioned under section 123, 124 and 124A of the Railways Act 1989.

The insurance scheme is available on an optional basis for all reserved classes (SL, 1AC, 2AC, 3AC) and trains except passenger trains and sub-urban trains.

The cover will not be applicable for children up to 5 years of age and foreign citizens.

The sum insured to be given to passengers are as follows:

Rs.10 lakh in case of passenger’s death.

Rs.10 lakh in case of permanent total disability of the passenger.

Up to Rs.7.5 lakh in case of permanent partial disability

Rs.2 lakh for hospitalization expenses.

Rs.10,000 in case of transportation of mortal remains.

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This leads one to wonder if the accidental insurance cover will be levied, in some form, in the expenses paid by the passenger while he/she books the ticket. That is not the case. There is no increase in the fare.

The Insurance Scheme is optional for passengers and if any passenger opts for scheme then only the premium of Rs.0.92 (inclusive of taxes) per passenger is charged.

No refund will be given in case of cancellation of tickets.

Rs.2.47 crore has been paid as compensation by the insurance companies since the launch of this scheme. The accident insurance scheme was launched on pilot basis in 2016-end.

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. A total of 19 companies had participated in the bidding process and 17 were found eligible.

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