Premium for Indian Rail travel insurance has reduced from 92 paisa to one paisa from 7th October to 31st October 2016. The reduced premium cost will be valid for all tickets booked up till October 31, 2016 under the scheme offered by the Indian Railway Catering and Tourism Corporation (IRCTC).
The facility is available for all rail passengers who book the e-ticket, excluding sub-urban trains, irrespective of the class of the ticket.
It offers rail passengers 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,
- 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 the event of a death due to accident, 100 per cent of the sum insured will be paid by the company.
The scheme is being implemented by IRCTC in partnership with ICICI Lombard, Royal Sundaram and Shriram General.