The tragic crash on June 2 at Bahanaga Bazar station in Odisha resulted in at least 288 fatalities and over 1,000 injuries. Only a small percentage of passengers had availed of travel accident insurance while booking their tickets online through the Indian Railway Catering and Tourism Corporation (IRCTC) portal.
Besides buying the insurance cover that comes along with the train ticket, it is arguably more astute to have one’s own independent accident insurance cover. One should also be aware of the other financial instruments that offer such coverage. A personal accident (PA) policy, which is a benefit policy, makes a payout in case of death or disability resulting from an accident.