BUSINESS

Check Out IRCTC’s 35-Paise Train Travel Insurance!

The deadliest train accident ever to occur in Odisha last week, which resulted in 288 fatalities and more than 1,000 injuries, has once again sparked discussion about train passenger safety. This tragic incident has sparked debates about the importance of taking safety precautions and being financially prepared when arranging a train trip.

Many people might not be aware that passengers on express trains and other long-distance trains have the option to purchase insurance for practically nothing. Travel insurance is available through the Indian Railway Catering and Tourism Corporation (IRCTC) for about 35 cents per traveller. Travel insurance, however, is an option that travellers must choose when purchasing booked tickets.www.theindiaprint.com check out irctcs 35 paise train travel insurance 246178 image 1200x900 10 11zon

The Institute of Chartered Accountants of India (ICAI) member and well-known chartered accountant Sambhav Daga has clarified this issue. Daga promoted the travel insurance offered by IRCTC on Twitter. He disclosed that customers who purchase train tickets through IRCTC have the option to add insurance for just 35 paise. Although many people choose to purchase this insurance, the majority of them fail to fill out the accompanying form, which asks for basic information and nominee information.

Surprisingly, this insurance policy provides Rs 10 lakh in coverage.

When choosing insurance, Daga urged everyone to complete the form and emphasized the value of educating family members. The goal is to avoid such a severe financial impact as was seen in the tragic incident that took place in Odisha on Friday, June 2.

Advantages of IRCTC Travel Insurance

1) Death Benefit: If the insured dies within 12 months of an accident-related physical injury sustained during the trip, 100% of the amount promised is reimbursed.

2) Permanent complete Disability Benefit: 100% of the amount guaranteed is provided if the insured has an unintentional physical injury during the trip that results in permanent complete disability within 12 months.

3) Permanent Partial Disability Benefit: 75% of the amount covered is payable if the insured has an unintentional physical injury during the trip that results in permanent partial disability within 12 months.

4) Hospitalization and Medical Treatment Expense Coverage: The insurance provider will reimburse the insured for costs associated with hospitalization and medical care up to Rs 2 lakhs in the event of an injury received while traveling.

5) Repatriation of Mortal Remains: The insurance provider will pay Rs 10,000 for the expense of conveying the insured’s mortal remains in the event that they pass away due to railway accidents or other unfavorable events while traveling, and there is no need for supporting documentation.

 

 

 

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