Low cost Insurance or Life insurance for Railway(irctc) Passengers: Indian Railways provides free insurance to the passengers. In case of death railways pays Rs. 4 Lakhs and in case of injury the minimum amount is Rs. 32000/- and maximum can be Rs. 4 Lakhs depending upon the severity. On the accident spot railway pays ex-gratia amount Rs. 15000/- to the dependents of the dead passenger and Rs. 5000/- to the injured and Rs. 500/- less injured passengers for immediate needs. The insurance not only covers the travelling passenger, it covers the person who came to receive someone with valid platform ticket. If you have a valid platform or travel ticket and you get insured or dead because of any terror or due to railway negligence, you are covered under insurance. Railway Claim Tribunal will decide the amount you are liable for insurance depends upon severity.