10 Lakh Insurance on Train Journey: India has the second largest railway system in the world, and more and more people are choosing this mode of travel to reach their destinations cheaply.
In light of this, the railway department is implementing various measures to ensure the safety and comfort of passengers, and one such measure is the introduction of insurance.
Given the rise in train accidents, many individuals opt for this insurance. Even if you do not have personal travel insurance, you can obtain this policy for just 45 paise. Here’s how it works:
When booking a train ticket online, you will find a convenient option for insurance, which is pre-selected by default, so you do not need to tick it. This ensures that you are covered without any extra effort.
Some individuals dismiss this 45 paise charge as inconsequential. However, activating this insurance means you will receive significant financial assistance in the event of an accident involving a passing train, providing a sense of security.
Under this insurance, affected families will receive Rs. 10 lakh in the event of death or permanent disability in an accident. For severe injury and disability, the insurance will cover Rs. 7.5 lakhs.
Individuals hospitalized with minor injuries will receive Rs. 2 lakh to cover medical expenses. In the unfortunate event of a passenger’s accidental death, Rs. 10 thousand will be provided for the transportation of the deceased.
This insurance applies to all Indians over the age of 5. Those who opt for this insurance will receive a text message and email notification once the ticket is confirmed.
Subsequently, a link will be sent with the nominee’s details. Upon submitting the relevant documents to the nearest insurance company, claimants will receive the benefits within four months, making claiming benefits easy.
It is important to note that this insurance is not applicable if the ticket is purchased at the railway station counter.
Furthermore, damages caused by train delays and theft of luggage are not covered. Lastly, individuals cannot choose their insurance provider for this specific policy. Understanding these limitations will help you make an informed decision about the insurance.