The railways’ travel insurance scheme has got a good response with more than 3.5 lakh passengers availing the facility on Saturday after the government waived the insurance premium. Passengers will no longer have to pay 92 paise for availing the insurance cover as the government has made it free to encourage online booking of tickets, said a senior Railway Ministry official. The facility, which was announced in the Railway Budget 2016-17, allows a travelling passenger to get an insurance cover of up to Rs 10 lakh on booking a train ticket on the IRCTC’s portal.
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The total insured passengers on December 10 is 3,57,348, according to railways. “We are expecting the number will touch 10 lakh per day shortly,” the official said. As per the decision, travel insurance premium was reduced to zero from 92 paisa for opting travel insurance on booking date. Noting that an option to choose travel insurance appears on the ticket booking website, he said, “It will be changed shortly after modification of the software.” However, wait-listed passengers are not covered in the scheme which is being implemented by IRCTC in partnership with ICICI Lombard, Royal Sundaram and Shriram General.
It offers travellers or their families compensation of up to Rs 10 lakh in the event of death or permanent total disability, Rs 7.5 lakh for permanent partial disability, up to Rs 2 lakh for hospitalisation expenses and Rs 10,000 for transportation of mortal remains in the event of death or injury from a train accident or other untoward incident, including terrorist attacks, dacoity, rioting, shoot-out or arson, as well as for short termination, diverted route and Vikalp trains. In case of passenger opting for insurance, the claim and liability is between passenger and the insurance company. In the event of a death due to accident, 100 per cent of the sum insured will be paid by the company.