Smart things to know about travel insurance for Indian Railways

1. The scheme is optional and available for all passengers who book their ticket online.

2. The premium is 92 paise for each passenger, which is inclusive of all taxes.

3. This scheme is available for passengers holding confirmed, RAC and waitlisted tickets. However, no refund of the premium will be issued if the ticket is cancelled.

4. The scheme offers a compensation of Rs 10,00,000 for death or permanent total disability; Rs 7,50,000 for partial disability; Rs 2,00,000 for hospitalization expenses for injuries; and Rs 10,000 for transportation of mortal remains.

5. The cover is not applicable for children up to five years of age and foreign citizens, and for suburban railway travel.

Content courtesy: Centre for Investment Education and Learning (CIEL). Contributions by Girija Gadre, Arti Bhargava and Labdhi Mehta.