IRCTC Travel Insurance: Accidents are unforeseen events and can happen in any situation on your journey either you're using road, rail or air transports. Sometimes its the little error that could explode into fatal injury or even worse, death. Hence, the wisest advice would be to be insured! Aka, get a travel insurance. It's not just about accidents, but travel insurance also covers many unexpected dire situations like luggage losses, theft, and much more. That being said, did you know train passengers can get travel insurance up to Rs 10 lakh from IRCTC? The premium amount is not even Rs 1, or 50 paise, but as little as 45 paise.
Let's dive deeper into this new travel insurance policy of IRCTC:
1. Premium Amount: With effect from February 17, 2024, the premium amount for travel insurance at IRCTC is set at 45 paise per passenger inclusive of all taxes.
Notably, IRCTC only provides linkage to transact with the Insurance Company through its website to take insurance cover and as such assumes no responsibility or liability in respect of said policy, under any circumstances.
Also, this scheme is optional, however, if the option is exercised it will be compulsory for all passengers booked under one PNR number. An optional Travel Insurance facility is provided only for CNF/RAC/Part CNF tickets at the time of booking.
2. Who Can Apply? This scheme is available only for Indian Citizens who book their e-ticket through IRCTC for passengers of Indian Railways. Citizens of foreign countries are not eligible for this scheme.
Hence, passengers who book their tickets from agents or other travel agencies, will not be able to avail the facility.
However, this travel insurance is not applicable for children below 5 years of age who book the ticket without a berth/seat. That being said, the travel insurance is applicable for the children of 5-11 years of age who book the ticket with berth or without berth.
In case of a passenger opting for insurance, the claim/liability shall be between the insured and the Insurance Company, as per the terms and conditions.
3. SUM Assurance: The assurance of sum is divided into four categories but kept uniform for all classes. Such as:
1. Transportation of mortal remains: Rs 10,000. This means the transportation of mortal remains following a Rail Accident or untoward incident.
IRCTC's guidelines said, that in case of short termination of trains due to any reason, if the passenger opts for the alternate mode of transportation arranged by railway up to the destination station, then this part of the journey of the passenger shall also be covered under the policy taken by the passenger.
Hospitalization expenses for injury: Rs 2 Lakh sum assured. The medical expenses incurred by the Insured for hospitalization and medical treatment taken on account of any Injury sustained by the Insured whilst on a Trip as stated in the Policy Schedule.
3. Permanent partial Disability: 75% of the sum insured stated in the schedule, 4. applicable to such insured is payable. The sum assurance will be to the tune of Rs 7,50,000.
4. Permanent Total Disability: 100% of the sum assured, which would come around Rs 10,00,000. If during the Trip, the Insured sustains accidental bodily injury which directly and independently of payable all other causes results in permanent total disability within 12 months from the date of accident or untoward incident.
5. Death: Here, as well, 100% of the sum assured will be offered to the nominees of the deceased. Hence, the sum would come to around Rs 10,00,000. If during the Trip, the Insured sustains accidental bodily injury which directly and independently of all other causes results in death within 12 months from the date of the accident or untoward incident.
According to the guidelines, the customer shall receive the policy information through SMS and on their registered email IDs directly from Insurance Companies along with the link for filling in nomination details. However, the Policy number can be viewed from the Ticket booked history at IRCTC Page.
Further, the guidelines highlighted after the booking of the ticket, the nomination details are to be filled in at the respective Insurance Company site. If nomination details are not filled then the settlement shall be made with legal heirs, if the claim arises.
Lastly, the coverage for the policy shall be for each passenger under the PNR in case of Death, Permanent Total Disability, Permanent Partial Disability, Hospitalization Expenses for Injury and Transportation of mortal remains following a Rail Accident or untoward incident.
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