Indian Railway is likely to start the pilot of Passenger Insurance Scheme from September to provide an insurance cover of Rs. 10 Lakh to the passengers with a minimal premium of just Rs. 10 per ticket. An insurance cover of Rs. 10 Lakh will be provided in case of permanent disability or death caused in a train accident.
To implement the scheme, IRCTC has shortlisted 17 insurance companies out of which 3 will be finalized soon to provide insurance cover to the passengers. Plans of introducing an insurance scheme for passengers was announced in this year’s budget.
The scheme first will be launched on pilot basis and will be applicable in case of online booking of the ticket. The scheme may be extended to the passengers buying tickets from counter and monthly season ticket travelers in coming days.
The following insurance cover will be provided under the passenger insurance scheme
– Rs. 10 lakh in case of permanent disability or death
– Rs. 7.5 lakh for partial disability or injuries
– Rs. 5 lakh for hospitalization
– Rs. 10,000 for transportation of mortal remains
The passengers booking tickets online can opt for the insurance. The premium amount will depend upon the duration or the distance of the journey.