How to buy Rs 10 lakh insurance cover by paying just Rs 0.35 premium on IRCTC portal

You can buy a cover of Rs 10 lakh while booking a ticket on Indian Railway Catering and Tourism Corporation (IRCTC) by paying just 35 paisa as premium. Keeping the recent Odisha triple train tragedy in mind, in case the passenger has died or has a permanent total disability, a sum of Rs 10 lakh will be provided to them or their nominees. In the case of permanent partial disability, the insured is entitled to Rs 7.5 lakh. Sakshi Batra, Anchor and Associate Editor of BTTV, talks in detail with Manas Kapoor, Product Head - Travel Insurance, Policybazaar.com, on what is offered if one buys travel insurance while booking a ticket from an IRCTC portal. 

BT: What insurance cover does IRCTC provide while booking tickets? 

Manas Kapoor: Any Indian national, who’s booking a ticket on the official IRCTC portal, has the option of selecting the travel insurance policy by just paying 35 paisa per passenger. The passenger will receive the details about the policy via SMS and on their registered email address directly from insurance company. The passenger will also get the link for filling the nomination details. However, this insurance policy can be purchased for adults and children over the age of 5 years.

BT: Please share premium details and cover provided. 

Manas Kapoor: Travel insurance provides uniform coverage for all classes. There is no difference in premium or cover provided. A standard travel insurance policy provided on the IRCTC portal covers death and disability. Keeping recent Odisha triple train tragedy in mind, in case the passenger has died or has permanent total disability, a sum of Rs 10 lakh will be provided to him/her or their nominees. In the case of permanent partial disability, the insured is entitled to Rs 7.50 lakh. In case of hospitalisation expenses due to injury during the train journey, a passenger gets Rs 2 lakh and for transportation of mortal remains the insurance company provide Rs 10,000 to the passenger’s place of residence or a cremation or burial ground. 

BT: What kinds of covers are given by IRCTC under the travel policy? 

Manas Kapoor: This insurance policy provides coverage against the death, disability (total/partial) of the passenger, due to the accidental bodily injury during the train travel. It also covers the hospitalisation expenses and transportation cost of mortal remains if the passenger dies during a trip due to an accident or untoward incidents. 

BT: What is the claim process? 

Manas Kapoor: To file the claim, the insured or his/her nominee or legal heir should inform the nearest office of the insurance company, within 4 months from the date of occurrence of the event. A detailed statement in writing as per the claim form and any other relevant material/proof in connection with the incident needs to be submitted to the insurance company.

BT: What is the difference when booking tickets via private online portals? 

Manas Kapoor: While there is no difference in booking tickets via online portals, it’s better to book the tickets directly from the Next Generation E-Ticketing (NGeT). Otherwise, there might be a possibility that the insurance company shall not be liable for the claim settlement against the travel insurance policy.  

BT: Does it make sense to take travel insurance via these portals if one already has life insurance like Jeevan Jyoti Bima Yojana or personal insurance or insurance via credit cards/banks? 

Manas Kapoor: Apart from Jeevan Jyoti or personal insurance, buying travel insurance is a good habit that customers must cultivate to safeguard themselves in an emergency while travelling from one destination to another.