Compare Corporate Travel Insurance Policies In India
If taking a business trip is a crucial part of your job, then getting corporate travel insurance is recommended for you. Corporate employers who wish to offer insurance protection to their staff members who go abroad on business should obtain a corporate travel insurance policy. Corporate travel insurance coverage* provides the insured with adequate travel and medical coverage.
The question though arises is that how does one determine which is the ideal policy among the several different travel insurance policies available in the market, and which policy manages to meet the requirements of the buyer.
Let us take a look at some of the benefits that a good plan must provide: –
- Baggage loss/delay:Any baggage loss or delay must be covered
- Medical expenses:All medical costs incurred while you are travelling must be covered
- Dental costs:Any costs associated with dental surgery resulting from an accident must be covered
- Personal accident benefit:If you, unfortunately, meet with an accident, this benefit must cover the medical expense
- Legal liability:Coverage for legal liability must be offered if a third party sustains bodily harm or property damage.
The policy that provides all or maximum of the above benefits must be given priority. Further, purchase travel insurance online so that you save time and can easily compare the various policies.
Inclusions in corporate travel insurance: Following are the inclusions of international corporate travel insurance that further helps in determining which policy is better than the other: –
- A medical emergency brought upon by sickness or mishap while travelling for business
- If a medical emergency necessitates the evacuation of the insured person
- Return of mortal remains in the unfortunate event of the insured’s demise
- Compensation if the journey is cut short or cancelled owing to an airline’s fault or other unavoidable circumstances
- Benefits for accidental death, injuries, and temporary or permanent disabilities
- Funeral costs internationally (if required)
- Paperwork for travel being lost or damaged
- Coverage for delay, harm, or loss of luggage and personal items
- Basic essentials, including clothing, toiletries, and other items, would be replaced if the checked luggage is delayed for 12 hours or more
- Theft and robbery coverage
- Compensation for missing the connecting flight as a result of an airline error
- Compensation for weather-related delays on the trip
- Hijack-distress advantage
Corporate travel insurance policies with add-on covers: These extra insurance options are available to meet a variety of company travel insurance needs. You may use a travel insurance premium calculator to calculate how much extra premium would be charged for adding the below-mentioned add-on covers.
- Pre-existing illness coverage:This insurance provides coverage for conditions that would not otherwise be included in a standard corporate travel insurance policy, such as diabetes, asthma, hypertension, and cardiac issues.
- Participation in adventure sports/activities: Any adventure sport or activity that exposes the insured to risks, such as water sports, mountaineering, fast riding, etc., may be covered.
- High-risk countries: Travel to high-risk nations can be covered for any journeys made there because of conflict, natural catastrophes, terrorist activity, etc.
Corporate travel insurance is highly beneficial. Employers and employees can protect themselves from unforeseen losses. However, you must meet the following requirements for purchasing corporate travel insurance: –
- The insured must be a corporate employee, and the insurance buyer must be an adult citizen of India.
- The insured must work for a corporation.
*Standard T&C Apply.
Insurance is the subject matter of solicitation. For more details on benefits, exclusions, limitations, terms, and conditions, please read the sales brochure/policy wording carefully before concluding a sale.
