Get Indian Railways' Rs. 10lakh travel insurance for 92 paise
When Rs. 10 lakh travel insurance costs just 92 paise, it's a no-brainer that one should definitely take it. This insurance, bought with such a paltry amount, can become invaluable if an accident does take place. So, who facilitates such a huge travel insurance for a trivial amount? Well, our very own Indian Railways does it and here's how you can avail it.
Keep in mind
There are certain things you should know before you avail this insurance. This is given only to Indian citizens when they book their tickets online. It is not available for kids below five years of age and is optional in nature. The premium is a mere Rs. 0.92 and it gets charged, should you opt for it, on all passengers booked under a single PNR.
What happens when you avail it?
After availing this facility, passengers will be provided with details via SMS and e-mail to their registered contact details, from the insurance firms. The messages will also contain the link for filing nomination details. The policy number is available on IRCTC web-page under 'Ticket-booked' history. If you don't file nomination details, the settlement of the said claim will be made with legal heirs.
What is covered?
Death, permanent total disability, permanent partial disability, hospitalization expenses for injury and transportation of mortal remains following a rail accident or untoward incident will be taken care of, under this insurance. Remember, IR is just the facilitator of this arrangement. Any case of mismanagement during claim withdrawal can't be directed towards Railways. It's purely between the passenger and the insurance firm. So, act accordingly.
How to get it?
In order to get this insurance, go to the IRCTC Homepage and then log in to your account. On the very same page, after booking your tickets, you will find a travel insurance option. Click on that and the charge will be added to your existing bill. Following that, you will receive a message for filling out nomination details.
How to claim it?
To claim this insurance, the person who's been insured or in his absence, the nominee or legal heir must visit the branch office of the insurance firm that provided it. Once you submit the claim form along with the documents needed, you will be paid within 15 days. The firm will give you more than 2% ROI of the bank rate if it delays it.