Railway Starts Giving Free Accidental Insurance Cover for Booking Railway Ticket Online
In order to promote Digital Transaction after demonetization of Rs. 500 and Rs. 1000 currency note, the Indian Railways has started to give free accidental insurance cover to the passengers who booked their tickets through online mode, from December 10, 2016. According to Indian Railway Catering and
Tourism Corporation (IRCTC) the passengers having confirmed or RAC (Reserved Against Cancellation) tickets would be covered under this scheme. The move was implemented after, Finance Minister Arun Jaitley announced a free accident insurance cover of Rs 10 lakh for passengers who buy railway tickets online, to promote the cashless transaction. Earlier in September 2016, an optional insurance scheme was launched by the IRCTC on a pilot basis for one year, which provided an insurance cover of about Rs. 10 lakh for booking online ticket by paying 92 paise.
v. Under the scheme, Rs. 10 lakh was given to beneficiary in case of the death of the passenger, along with Rs 10,000 for transportation of mortal remains.
vi. Passenger was entitled to get Rs. 10 lakh in case he gets permanently disabled, Rs 7.5 lakh in case of partial disability, while Rs 2 lakh for the hospitalization expense.
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