It may sound incredible but ahead of the festival season, rail passengers can now avail travel insurance scheme at just one paisa from 7th October. The reduced premium cost will be valid for all tickets booked up till October 31, 2016.
The insurance scheme of Railways for its passengers was launched on 1st September this year and the premium to be paid was 92 paise for a 10 lakh Rupee insurance. Till 29th September some 1 crore passengers had opted for the scheme. This is only for tickets booked through IRCTC portal. IRCTC implements this in partnership with ICICI Lombard, Royal Sundaram and Shriram General.
The insurance cover gives a 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.
