In the global world, it is often the case that global companies send a group of employees overseas for specific assignments or extensive conferences for a temporary period of time. When visiting a foreign land, it is crucial for all travelers alike to stay protected regardless of the nature of the trip and the same goes for business travelers. Purchasing a group travel insurance policy for employees embarking on a business trip will not only provide protection and peace of mind, but it is also cost effective, hassle free, and significantly more convenient than purchasing individual policies.
Group Travel Insurance is Cost Effective
When it comes to purchasing travel insurance, the cost is often the main concern and when buying insurance for multiple people, buying separate policies for each individual can be very expensive. Purchasing a group policy for a group of business travelers going on the same trip is significantly more cost effective for employers.
It's Easy & Convenient
Purchasing travel insurance inevitably entails filling out paperwork based on trip specifics, inputting traveler details, and submitting payment information, so when it comes to doing this for a large group of people, undergoing this process for each individual separately can be extremely repetitive and frustrating, not to mention time consuming, especially if its all for the same trip. When a group policy is purchased, multiple insurance ID cards are distributed for each insured individual, but its much easier to manage, as it only entails keeping track of one policy as opposed to several separate policies and is especially more manageable for the HR department in terms of maintaining employee records.
Get Liability Protection & Peace of Mind
While it is easy for those planning a business trip to assume that there aren't any risks being taken based on the nature of the travels, the fact of the matter is that anything can happen and not being protected from the unknown can be a big mistake for both the employer and the travelers. Whether the travelers will be sitting in meetings for the duration of the trip, partaking in hands on activities, or overseeing onsite projects in a factory setting, unexpected illness, injury, baggage loss, emergency evacuation, or in extreme cases, even kidnap, ransom, or theft could occur. In any of these cases, being protected by a group policy will not only ensure that the travelers are well taken care of, but that the employer is protected by any financial burden or legal issues as a result of the unexpected event.