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Railway Passengers to get 10 Lakh Insurance for less than Rs 1

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After ‘Super Saver Scheme’ it’s time for voluntary passenger scheme. Indian Railways is likely to introduce the insurance premium scheme for all the reserved category passengers from next month, i.e., September.The scheme will offer 10 lakh insurance for a premium of 92 paisa.

The new facility will be available to all passengers who book e-ticket excluding suburban trains, through its official website (IRCTC), irrespective of the class ticket and on a trial basis.

Under this scheme, passengers will get a compensation up to Rs. 10 lakhs in the event of death or total disability, Rs. 7.5 lakh for permanent partial disability, up to Rs. 2 lakhs for hospitalization expenses for injury and transportation of mortals remains Rs. 10,000 per passenger.

IRCTC To Launch Passenger Insurance And Unreserved Ticketing From September

This can be availed by booking train ticket online by paying less than one rupee from August 31. The amount will be given for the passengers who met with train accident, terrorist attack, and in case of a shootout.

Railway Minister Suresh Prabhu has announced in his budget meeting about launching the premium train traveller scheme. According to the Railway reports, nearly 13 million are served by the network daily out of which 12 million are unreserved passengers. Those who book tickets through Indian Railway Catering and Travelling Corporation (IRCTC) website only opt for the scheme.

It is being implemented by Indian Railway Catering and Travelling Corporation (IRCTC) in partnership with ICICI Lombard General Insurance, Royal Sundaram General Insurance and Sriram General Insurance. For this scheme, a total of 19 companies had participated in the bidding process, and 17 were found eligible.

IRCTC To Launch Passenger Insurance And Unreserved Ticketing From September

The scheme will not be applicable for the children up to five years and also for foreign citizens. It will be applicable only for the passengers holding confirmed tickets, RAC and waiting list ones.

The insurance is uniform for all classes and option is available through a check-box at the time of e-booking. The premium amount will be automatically added to the ticket fare if the passenger opts for the insurance. In the case of cancellation of tickets, IRCTC will refund the premium ticket fare after the deduction of administrative charges.

IRCTC To Launch Passenger Insurance And Unreserved Ticketing From September

IRCTC To Launch Passenger Insurance And Unreserved Ticketing

Indian Railway Catering and Tourism Corporation (IRCTC) is soon going to come up with advanced services to comfort the rail passengers. In the mode of up gradation of existing services, IRCTC on Monday announced that it would soon introduce new services which include Passenger insurance and Unreserved Ticketing.

Arun Kumar Manocha, Chairman and Managing Director of IRCTC in a statement said, “We are going to start passenger insurance soon and have already issued letter of award. We have short-listed three companies. The insurance would be less than Rs 2 per trip for a sum insured of Rs 10 lakh.”

According to the reports, among a huge list, three leading insurance providers of the nation are short-listed-Shriram General, Royal Sundaram and ICICI Lombard General Insurance. Insurers will provide ‘Travel insurance’ to the rail passengers. This travel insurance is the amount paid to the passengers in addition to the compensation paid by Indian Railways to the reserved or ticket holders in case of any accidents.

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“At the moment, the insurance offer is under integration process, and we expect it will be operationalised from September,” said Manocha. Currently, only airlines in the nation provide such travel insurance to their passengers while reserving the tickets. Sanjay Datta, Chief-underwriting and claims at ICICI Lombard, said that the insurance coverage would be against accident, disabilities and hospitalisation too.

The other plans of the IRCTC initiatives include Unreserved Ticketing feature on the official website. The feature is not yet clear but is expected to start in the month of September. If we remember, earlier an exclusive app for booking unreserved tickets was introduced by IRCTC.

On Friday, IRCTC and State Bank of India partnered to add an e-wallet ‘Buddy’ that allows passengers to make digital payments during booking of tickets. He said that the e-wallet should be launched by Dussehra or Diwali in October.

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Manocha said that IRCTC works with several private and public sector institutions and Central Food Technological Research Institute (CFTRI)-Mysore and Institute of hotel management, Catering and Nutrition-Pusa, New Delhi to provide better services to the passengers

Manocha also stated that they are working on to integrate Android software into IRCTC, which makes the cancellation of tickets and refund of amount easy. Besides he also stated that “The failure for card payment is only 2-3 per cent because of the pathway issues. We are hoping to launch e-wallet in the renewed form. It will be made free for the first three months. Currently, it is linked to the pan card and it will also be linked to the Aadhaar card soon.”