The recent deadliest train accident in Odisha, which claimed the lives of 288 passengers and left over 1,000 injured, has reignited concerns about the safety of train travel. This tragic incident has sparked discussions on the need for safety precautions and financial preparedness when embarking on train journeys.
Amidst these discussions, it has come to light that passengers traveling on express trains and other long-distance trains have the option to avail themselves of travel insurance at a nominal cost. The Indian Railway Catering and Tourism Corporation (IRCTC) provides travel insurance for a mere 35 paise per passenger. However, it is important to note that this insurance is optional and must be selected at the time of booking reserved tickets.
Renowned Chartered Accountant Sambhav Daga, a member of the Institute of Chartered Accountants of India (ICAI), took to Twitter to shed light on this matter. Daga highlighted the travel insurance offered by IRCTC, emphasizing that passengers have the opportunity to pay a minimal amount for insurance coverage. Unfortunately, many passengers overlook the accompanying form that requires basic information and nominee details, despite opting for the insurance.
Interestingly, this insurance policy provides coverage of up to Rs 10 lakh. Daga urged travelers to complete the necessary form while opting for insurance and stressed the importance of raising awareness among family members. The objective is to prevent the severe financial impact witnessed in the tragic Odisha incident that occurred on June 2.
Availing IRCTC travel insurance offers several benefits, including coverage for death, permanent total disability, and permanent partial disability resulting from accidental bodily injury sustained during the trip. Additionally, the insurance company indemnifies the insured for hospitalization and medical treatment expenses up to Rs 2 lakhs. In the unfortunate event of the insured’s death due to train accidents, the insurance company also provides reimbursement of Rs 10,000 for repatriation of mortal remains without requiring documentary evidence.
The emphasis on travel insurance following the train accident highlights the significance of being financially prepared and protected during train journeys. It serves as a reminder for passengers to consider availing this affordable insurance option to mitigate potential risks and ensure peace of mind while traveling by train.
