IRCTC offers Rs 10 lakh insurance cover for Re 1
To increase the services provided to train passengers, the IRCTC will now offer a travel accident insurance cover of Rs 10 lakh for a paltry premium of Re 1.
- Jul 26, 2016,
- Updated Jul 26, 2016 8:23 PM IST
To increase the services provided to train passengers, the IRCTC will now offer a travel accident insurance cover of Rs 10 lakh for a paltry premium of Re 1. The new insurance scheme will be offered from September to passengers booking their tickets online through IRCTC website.
According to AK Manocha, IRCTC's Chairman-cum-Managing Director, the insurance cover is besides the compensation given by the Railways in case of accidents to valid ticket holders. The insurance would provide coverage against death, injury and disabilities caused due to accidents.
Currently, the insurance offer is under integration process and we expect it will be operationalised from September, Manocha said.
IRCTC, which had short-listed 19 insurance companies to offer this service, narrowed down to only three insurance companies - Shriram General, Royal Sundaram and ICICI Lombard . Now, only these three companies which were selected through the bidding process will provide the insurance cover.
This will be the first time that train travellers will have an option to buy insurance along with their e-ticket. For domestic air travellers, flight insurance premiums start from around Rs 100.
Although, purchasing the insurance cover will not be mandatory, but those who buy it will be covered in case of any hospitalisation due to train accidents.
On a daily basis, around 5 lakh tickets are booked online through Indian Railway Catering and Tourism Corporation (IRCTC) website.
The move comes close on the heels of several new services offered by IRCTC to woo train passengers. Only last month, Indian Railways tied up with national carrier Air India to fly unconfirmed passengers of Rajdhani trains at the fares matching with the AC first class ticket prices.
Last week, the Indian Railway spoke about its plan to roll out a Rail Radio service for 'onboard infotainment' which would also come in handy in emergency situations and disasters.
To increase the services provided to train passengers, the IRCTC will now offer a travel accident insurance cover of Rs 10 lakh for a paltry premium of Re 1. The new insurance scheme will be offered from September to passengers booking their tickets online through IRCTC website.
According to AK Manocha, IRCTC's Chairman-cum-Managing Director, the insurance cover is besides the compensation given by the Railways in case of accidents to valid ticket holders. The insurance would provide coverage against death, injury and disabilities caused due to accidents.
Currently, the insurance offer is under integration process and we expect it will be operationalised from September, Manocha said.
IRCTC, which had short-listed 19 insurance companies to offer this service, narrowed down to only three insurance companies - Shriram General, Royal Sundaram and ICICI Lombard . Now, only these three companies which were selected through the bidding process will provide the insurance cover.
This will be the first time that train travellers will have an option to buy insurance along with their e-ticket. For domestic air travellers, flight insurance premiums start from around Rs 100.
Although, purchasing the insurance cover will not be mandatory, but those who buy it will be covered in case of any hospitalisation due to train accidents.
On a daily basis, around 5 lakh tickets are booked online through Indian Railway Catering and Tourism Corporation (IRCTC) website.
The move comes close on the heels of several new services offered by IRCTC to woo train passengers. Only last month, Indian Railways tied up with national carrier Air India to fly unconfirmed passengers of Rajdhani trains at the fares matching with the AC first class ticket prices.
Last week, the Indian Railway spoke about its plan to roll out a Rail Radio service for 'onboard infotainment' which would also come in handy in emergency situations and disasters.