Rail passengers to get Rs 10 lakh insurance cover for a premium of Rs 20 per ticket

[rahul1117kumar]

Indian Railways is likely to introduce optional insurance scheme for all reserved category passengers from next month.

As per sources, Railway Ministry has cleared a proposal of its subsidiary Indian Railway Catering and Tourism Corporation (IRCTC) for the new passenger-friendly scheme in which the travellers with valid reserved tickets in all classes will have to pay a minimal premium of Rs 20 per ticket for an insurance cover of Rs 10 lakh in case of death or permanent disability caused in train accident.

The proposed insurance scheme is optional and passengers will be given the option at the time of booking tickets. As per the scheme, around Rs 10 lakh will be provided in case of death and permanent disability, Rs 7.5 lakh for partial disability, Rs 5 lakh for hospitalisation and expense for injury and transportation of mortal remains will be Rs 10,000 per passenger.

The one-time insurance coverage will be valid from the actual departure to actual arrival of the train for passengers who opt for e-ticketing.
Railway Minister Suresh Prabhu had announced plans to launch passenger insurance scheme in Rail Budget this year. According to Indian Railways, nearly 13 million passengers are served by the network daily, out of which nearly 12 million are unreserved passengers.

Rail passengers to get Rs 10 lakh insurance cover for a premium of Rs 20 per ticket | Zee News

 

[Sarkar]

Great move [emoji106]

 

[rahul1117kumar]

Railway passengers to get Rs10 lakh insurance cover from 31 August

A travel insurance cover of up to Rs10 lakh can be availed while booking a train ticket online by paying less than one rupee from 31 August.

A person booking a train ticket through the IRCTC website will be able opt for travel insurance cover for a premium of 92 paise only from 31 August, said a senior Railway Ministry official.

Railway minister Suresh Prabhu had in his budget speech announced that the railways will provide optional travel insurance for train journey at the time of booking.

The new facility will be available to all passengers excluding those travelling on suburban trains while booking online irrespective of the class. It will be started on a trial basis.

The cover will not be applicable for children upto 5 years of age and foreign citizens. It will be for passengers holding tickets such as confirmed, RAC and wait-listed ones, said the official.

The scheme offers travellers/nominees/legal heirs a compensation of Rs10 lakh in the event of death or total disability, Rs7.5 lakh for partial disability, upto Rs2 lakh for hospitalisation expenses and Rs10,000 for transportation of mortal remains from the place of a train accident or where an untoward incident, including terrorist attack, dacoity, 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.

A total of 19 companies had participated in the bidding process and 17 were found eligible. The three selected insurance companies will get to issue the insurance policy on a rotational basis through an automated system.

IRCTC has engaged the firms for one year with the provision of extending the contract on a performance basis.

http://www.msn.com/en-in/news/other...ce-cover-from-31-august/ar-BBw2RQW?srcref=rss

 

[iSK]

clap