The Indian Railway Catering and Tourism Corporation (IRCTC) website is where almost 15 lakh travellers purchase their tickets. For the pitiful sum of Rs 0.35, each of these travellers is eligible for an insurance coverage that covers accidents that occur while they are traveling. Despite the modest premium, the terrible Balasore Train Accident demonstrated that few passengers choose to purchase this insurance. IRCTC has made a tiny but significant adjustment to the ticket ordering procedure in an effort to get more travellers to purchase the insurance.
The default response from IRCTC when asked if a passenger wants to use the travel insurance option is “Yes.” No platform is permitted to offer default insurance, according to sources citing the Insurance Regulatory and Development Authority of India (IRDAI) regulations.
Although it would be quite simple to switch the default answer from “Yes” to “No,” it is anticipated that few people will go to the trouble.
What does the cover cost?
The following coverage will be offered by the travel insurance:
- For unintentional death or permanent disability, 10 lakh rupees
- Rs. 7.5 lakh for a partly permanent disability
- 2 lakh rupees for hospitalization costs related to an injury
- Transportation of skeletal remains will cost Rs. 10,000.
How can you make a Policy Claim?
The traveller is required to update their nominee information as soon as they acquire the policy. Within four months of the incident, a complete description of the claims must be given to the insurance company’s local office if the insured passenger or nominee wishes to receive the benefits covered by the policy.
The insurance company will pay the claim to the insured person’s heir, executor, or duly appointed legal representative if there is no nominee and the insured person is incapacitated or deceased. Any payment made in this way by the insurance company will be a full and final discharge of their obligation to make payment.
