IRCTC Offers Insurance for Your Train Travels at Just 35 Paise; Check Details Here

The deadliest train accident in Odisha last week, in which 288 passengers lost their lives and over 1,000 were injured, has again stirred a debate about the safety of people while traveling in trains. This catastrophic event has sparked discussions on the significance of safety precautions and financial preparedness when planning a journey by train.

Many may not know that while traveling in express trains and other long-distance trains the passengers can opt for insurance for almost free. The Indian Railway Catering and Tourism Corporation (IRCTC) offers travel insurance at only 35 paise per passenger. However, travel insurance is optional and the passengers need to avail it while booking reserved tickets.

Renowned Chartered Accountant Sambhav Daga, a member of the Institute of Chartered Accountants of India (ICAI), has shed light on this subject. Daga took to Twitter to highlight the Travel Insurance provided by IRCTC. He revealed that while booking a train ticket through IRCTC, passengers have the option to pay a mere 35 paise for insurance coverage. Though many individuals opt for this insurance, a majority of them ignore completing the accompanying form that requires basic information and nominee details.

Surprisingly, this insurance policy offers a coverage of Rs 10 lakh.

Daga urged everyone to fill in the form when opting for insurance, emphasising the importance of spreading awareness among family members. By doing so, the aim is to prevent such a severe financial impact as witnessed in the tragic incident that occurred on Friday, June 2, in Odisha.

Benefits of Availing IRCTC Travel Insurance:

1) Death Benefit: If the insured sustains accidental bodily injury during the trip resulting in death within 12 months, 100% of the sum assured is payable.

2) Permanent Total Disability Benefit: If the insured sustains accidental bodily injury during the trip resulting in permanent total disability within 12 months, 100% of the sum assured is payable.

3) Permanent Partial Disability Benefit: If the insured sustains accidental bodily injury during the trip resulting in permanent partial disability within 12 months, 75% of the sum assured is payable.

4) Hospitalisation and Medical Treatment Expense Coverage: The insurance company will indemnify the insured for expenses incurred, up to Rs 2 lakhs, for hospitalisation and medical treatment due to any injury sustained during the trip.

5) Repatriation of Mortal Remains: In the event of the insured’s death due to train accidents and untoward incidents during the trip, the insurance company will reimburse Rs 10,000 for the cost of transporting the mortal remains without requiring documentary evidence.