Download the Policybazaar app
to manage all your insurance needs.
Railways Likely To Offer Personal Accident Policy to Passengers
The railway ministry is working towards offering personal accident insurance policy to its passengers. Mr. Suresh Prabhu, Railway Minister, has proposed to rope in public sector insurance companies to provide this insurance coverage. As reported by The Hindustan Times, a senior ministry official said, “The New India Assurance Company has agreed to partner with the Indian Railways. In all likelihood, a policy statement on the matter will be made by the railway minister in his upcoming budget speech.”
Get ₹1 Cr. Life Cover at just ₹449/month*
No medical checkup required
Save more with upto 10% discount
Covers COVID-19
Tax Benefit
Upto Rs. 46800
Life Cover Till Age
99 Years
8 Lakh+
Happy Customers
*Tax benefit is subject to changes in tax laws. *Standard T&C Apply
** Discount is offered by the insurance company as approved by IRDAI for the product under File & Use guidelines
- Home
- Life Insurance
- News - LI
- Railways Likely To Offer Personal Accident Policy to Passengers
At present, a train journey is not insured. Therefore, in case of an accident, compensation to accident victims is provided on the basis of decrees from 21 benches of the Railways Claims Tribunal situated throughout the country. Also, the railway ministry provides compensation out of their discretionary fund. However, the current system is not working efficiently. As quoted by The Hindustan Times, the senior official said, “Compensation claims departments across different railway zones have turned into breeding grounds for corrupt practices on account of the involvement of unscrupulous agents and local mafia, while families of genuine accident victims are left to fend for themselves. The existing system serves nobody except those with vested interests.”
Written By: PolicyBazaar
You May Also Like
Modi Government Launches 3 Social Security Schemes- By PolicyBazaar -
-
- 56373 Views
Modi Government Launches 3 Social Security Schemes Prime Minister Narendra Modi has launched three new social security schemes (PM Bima Yojana) in Kolkata. The new government schemes (2 insurance products & 1 pens...
read more
Insurance Corporate Agents Can Now Sell Policies Of Up To 3 Insurers- By PolicyBazaar -
-
- 48957 Views
Insurance Corporate Agents Can Now Sell Policies Of Up To 3 Insurers The Insurance Regulatory and Development Authority of India (IRDAI) notified new norms for corporate agents allowing them to tie up with up to th...
read more
Maharashtra’s Auto Rickshaw Drivers to Get Pension and Insurance Cover- By PolicyBazaar -
-
- 12142 Views
Maharashtra’s Auto Rickshaw Drivers to Get Pension and Insurance Cover The Maharashtra State Department has decided to give pension to the licensed auto rickshaw drivers above 60 years of age. The scheme will also ...
read more
IRDA Imposes a Penalty worth Rs 10 Lakhs on Tata AIA Life- By PolicyBazaar -
-
- 11815 Views
IRDA Imposes a Penalty worth Rs 10 Lakhs on Tata AIA Life Insurance Regulatory and Development Authority of India (IRDA) today slapped a penalty of Rs 10 Lakhs on Tata AIA Life Insurance for surfeit payment to corpor...
read more
IRDAI Directs SBI Life Insurance Company Ltd. to Refund Commission Excess of Rs.275 Crores to Policyholders- By PolicyBazaar -
-
- 11236 Views
IRDAI Directs SBI Life Insurance Company Ltd. to Refund Commission Excess of Rs.275 Crores to Policyholders SBI Life Insurance Company Ltd., a private life insurer, was directed to reimburse the excess commission of ...
read more
Life insurance articles
Recent Articles
Popular Articles
19 Jan 2022
Tata AIA Life Insurance Company Limited is one of the popular...
18 Jan 2022
SBI Life Insurance started its operations in 2001, is a joint...
18 Jan 2022
PNB MetLife India Insurance Company Limited (Formerly knowns as...
18 Jan 2022
Max Life Insurance Company Limited is a joint venture between...
12 Jan 2022
Kotak Life Insurance is one of the fastest-growing insurers in...