Railway Minister Suresh Prabhu on 1 September 2016 launched an insurance scheme for passengers travelling on e- ticket. The insurance cover will be up to 10 lakh rupees.
The insurance coverage will be available in case of train accidents and other untoward incidents, including terrorist attack, dacoity, rioting, shooting or arson.
Features of the Scheme
• A person booking a train ticket through the IRCTC website will be eligible for the travel insurance and it is optional.
• To avail the facility, train passengers will have to pay 92 paisa premium.
• The insurance cover will not be applicable for children up to 5 years of age and foreign citizens.
• The facility will be available only for confirmed and RAC ticket passengers.
• There will be no refund of the premium in case of ticket cancellation.
• The scheme offers travellers or nominees a compensation of 10 lakh Rupees in the event of death or total disabilty, 7.5 lakh Rupees for partial disability, up to 2 lakh Rupees for hospitalisation expenses and 10000 rupees for transportation of mortal remains from the place of a train accident.
• The compensation claim has to be made within four months of the incident and the insurance company is required to process the claim within 15 days of receipt of the require documents.
Shriram General Insurance Company, ICICI Lombard and Royal Sundaram General Insurance have been roped in by Indian railways for providing the insurance cover.
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