I know that group travel insurance is bought by the organization to cover the frequent business travel. But what is difference between individual travel insurance and group travel insurance?
Printable View
I know that group travel insurance is bought by the organization to cover the frequent business travel. But what is difference between individual travel insurance and group travel insurance?
Group Travel Insurance policy is one policy for a business group. It a annual policy, so no need to buy policy every time you are going. Plus some additional benefits like –
Emergency Travel: Pays for the costs of a first class train fare or economy class air fare to return home, upon interruption of travel arrangements made with a recognised Frequent Flyer programme
Contingency Travel Benefit: Pays for reimbursement of coffin expenses, legal assistance following an automobile accident, emergency hotel accommodation and/or emergency hotel extension on occurrence of a contingency covered in the policy
Assistance Provider Services: Helps with emergency medical transport or repatriation, related services, as well as advice on pre-departure information such as visa requirements.
Group plans cover some additional things, which are not covered in normal policy. Eg - Sometimes the policyholders decided to do some sightseeing in Edinburgh, flying from a business meeting in London. All went well until the airline went on strike and he looked likely to miss his connection bank to London. He was able to purchase a ticket on another carrier and this was covered under the policy.
One more example - The insured was unable to give a presentation at a important meeting when he came down with a serious case of the flue in Moscow. The Group Travel Insurance paid for a colleague to be flown to Moscow and present in his place.