India Railway Insurance: The Union Railway Minister has said that passengers who book tickets online are given insurance of Rs 10 lakh for just 45 paise. In the last 5 years, a claim of Rs 27 crore has been given to 333 people.
If we talk about the cheapest insurance in the country, then this feat is being achieved by the Indian Railways. Those who book tickets get insurance of Rs 10 lakh for just 45 paise. If something untoward happens in an accident, then this money is paid by the insurance companies. The government itself gives a guarantee on this insurance. The government also said that in just 5 years, insurance companies have given claims of more than Rs 27 crore to 333 people.
Railway Minister Ashwini Vaishnav said on Wednesday that passengers can avail the optional travel insurance scheme by paying a premium of 45 paise including all taxes while purchasing e-tickets. Although this facility is optional, but I believe that passengers should compulsorily adopt it. Such a good cover is not available in any other scheme at a very low premium. The Railway Minister said that insurance companies have also settled claims worth crores of rupees in the last 5 years.
What did the Railway Minister say
In a written reply to questions related to rail travel insurance in the Lok Sabha, Railway Minister Vaishnaw said that all passengers can book tickets online or from reservation counters. However, the Optional Travel Insurance Scheme (OTIS) is available only to those confirmed/RAC passengers who have booked their tickets online. Any passenger, who wants to avail the insurance benefits, can opt for this scheme at his discretion while booking the ticket. This scheme is available to passengers booking e-tickets and it provides additional insurance cover to those who have opted for it and paid the premium.
What is the premium of this insurance
The Railway Minister said that currently the premium per passenger per journey including all taxes for getting insurance under the optional travel insurance scheme is Rs 0.45 (forty five paise). The passenger opts for the insurance scheme while booking the ticket and pays the premium along with the fare. According to the Railway Minister, passengers receive policy information directly from the insurance company through a message on their registered mobile and email ID. Along with this, a link is also provided to enter the nomination details. Apart from this, the insurance company is directly responsible for issuing the policy and settling the claims.
How many passengers have received claims
The Railway Minister informed that as per the documents received through email from the insurance company, passengers file claims directly with the insurance company and filing of claims is a continuous process between the passenger and the insurance company. Under these claims, claims of 333 people were settled during the last five years and an amount of Rs 27.22 crore has been paid to the passengers by the insurance companies. The Railway Minister informed the House that passengers can easily accept the scheme by simply clicking on the tick box while booking tickets on the IRCTC website or app.
When do you get the benefit of insurance?
In this insurance done by the railways, different coverage is given for different situations. According to the insurance policy, the nominee is given Rs 10 lakh in case of death in an accident. Even if there is permanent disability, a claim of Rs 10 lakh is given. If someone becomes partially disabled, he is given Rs 7.5 lakh, while if he is admitted to the hospital after getting injured, a claim of Rs 2 lakh is given. If the train does not move forward after the accident and the passenger has to complete the journey with his own money, then the railways gives a claim of Rs 10 thousand.
