Group travel is an exciting opportunity – be it a business, an academic trip, or a leisurely vacation. However, it is also important to prioritise safety and preparedness. This is where the insurance coverage for group travel comes in handy, providing a safety net for unfavourable circumstances. Let us discuss the concept of group travel accident insurance and its importance to travellers.
What does Group Travel Accident Insurance mean?
Group travel accident insurance is a unique type of insurance product designed to cover several people travelling together against various financial risks posed by accidents, injuries, and fatalities that can happen during a trip. This policy covers most of the risks associated with trips, including accidental death, accidental dismemberment, and related medical costs. It helps policyholders avail of the best treatment possible without worrying about the associated expenditures. It also covers repatriation, round-the-clock travel assistance services, and more.
Group travel accidental insurance differs from the usual travel insurance covers. A standard travel insurance plan covers an individual or a family travelling together. Group travel accident insurance is specifically crafted to cater to the unique needs of several people travelling together. Consequently, the features include the policy’s ability to be customised and implementable among different groups for specified periods on varied trips.
Let’s look closely at why you should consider investing in a comprehensive group travel accident insurance policy.
Benefits of Group Travel Insurance
Group travel accident insurance, also known as group personal accident insurance policy, is designed for group members embarking on a journey either within the country or abroad. The following are some benefits of group travel accident insurance —
- Financial Protection: One of its benefits is to provide financial protective coverage for travellers and their families in the event of unforeseen accidents or mishaps. The policy provides for the payment of medical costs, repatriation, and other relevant and associated costs.
- Accidental Death and Dismemberment Coverage: This policy reimburses the insured or his/her beneficiaries in the course of accidental death or dismemberment (like partial/total loss of limb, hearing, or eyesight).
- Emergency Medical Assistance: Group travel accident insurance offers access to emergency medical services that assist in promptly receiving medical care in the event of an illness or injury while on vacation. This could be especially useful when people travel to isolated areas lacking extensive medical facilities.
- 24/7 Support: Most insurers provide 24-hour assistance to the insured.
- Customisation: These policies can be tailored to the specific needs of the group.
Disclaimer: The information provided in this blog is for educational and informational purposes only. It may contain outdated data and information regarding the relevant industry. It is advised to verify the relevance of the data and information before taking any major steps. ICICI Lombard is not liable for any inaccuracies or consequences resulting from the use of this outdated information.