Rs 10 Lakh Rail Insurance For 49 Paisa: This Is How Indian Railways Is Breaking The Insurance Rules!

IRCTC is now offering travel insurance for only half a rupee!

Yes, you read that right! IRCTC will now give travel insurance which will cover up to Rs. 10 lakh for an extremely minimal premium of Rs. 49 paise only. That is even lesser than half a rupee.

Let’s find out more about how you can avail the benefit of this travel insurance by IRCTC.

IRCTC Offers Travel Insurance At Less Than 50 Paise

Travel insurance has proven to be of great benefit ever since it has been introduced, especially for the passengers of IRCTC. Considering the huge amount of accidents that happen during train journeys, being covered by insurance is always our safety net. 

IRCTC has partnered with three insurance companies – Bharti Axa General Insurance, Bajaj Allianz General Insurance and Shriram General Insurance, which provide insurance for tickets that are booked via IRCTC website or app. 

Insurance has also resulted in huge profits for private insurance companies. As per reports, private insurance companies have been paid an amount of Rs. 46 crore as premium by IRCTC. On the other hand, the passengers have been paid Rs. 7 crores only, under the travel insurance initiative by IRCTC.

Find Out If You Are Eligible

Only Indian citizens are eligible to avail the insurance if they book their tickets via the IRCTC website or the mobile app. This travel insurance covers all the passengers booked under a single PNR number. 

However, IRCTC travel insurance will not be provided for children below 5 years of age.

What Does This Insurance Cover

The insurance policy covers death, permanent total disability, permanent partial disability and hospitalization expenses for injury and transportation of mortal remains following a rail accident or untoward incident. 

Here is how much it will cover for each of the above-mentioned incidents:

• Death – Rs. 10 lakh
• Permanent total disability – Rs. 10 lakh
• Permanent partial disability – Rs. 7.5 lakh
• Hospitalization expenses for injury – Rs. 2 lakh
• Transportation of mortal remains – Rs. 10 thousand

A Step By Step Guide To Get IRCTC’s Travel Insurance

These are the steps you need to follow to get travel insurance for 49 paise only:

1. While booking the ticket, click on the ‘Travel Insurance’ tab.
2. You will receive an SMS and an email on your registered email id that will contain all the information regarding insurance. 
3. You will also get a link wherein you are required to fill out nomination details after you book the ticket. These details need to be filled at the particular insurance company’s website.

Remember – The IRCTC website states that if you don’t fill out the nomination details, then the settlement will be made with legal heirs.

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