In today’s world, the importance of insurance has grown significantly. Typically, life insurance requires paying hefty premiums every year. However, Indian Railways through IRCTC offers the most affordable insurance scheme in the country, providing a ₹10 lakh insurance cover for just ₹0.45. Let’s explore how this unique scheme works.
How Does IRCTC’s Insurance Scheme Work?
This insurance cover is available to passengers who book their train tickets online through IRCTC. However, the scheme applies only to confirmed, RAC, or partially confirmed tickets. Children under the age of 5 are not eligible for this insurance, but children aged 5-11 can avail of it. The cover provides various benefits in case of accidents.
Insurance Benefits in Case of an Accident
- Death Due to Railway Accident: ₹10 lakh.
- Permanent Total Disability: ₹10 lakh.
- Permanent Partial Disability: ₹7.5 lakh.
- Hospitalization Expenses Due to Injury: ₹2 lakh.
- Transportation of Deceased Body: ₹10,000.
The insurance policy is optional but highly recommended for all passengers, especially considering the affordable cost and significant benefits. The claim process is between the policyholder and the insurance company.
A Smart Investment for Safety
This ₹10 lakh insurance cover for just ₹0.45 is an opportunity passengers shouldn’t miss. Every day, millions of people travel by train, sometimes over hundreds of kilometers. While accidents are rare, they can happen at any time, and it’s better to be prepared. Taking advantage of this scheme ensures that, in case of an unfortunate event, you or your loved ones are financially supported.
