the world expected it to play in global political and economical spheres. Indian corporate companies can now be found almost in all types of countries ranging from US to Angola and from EU to Uzbekistan. Indian firms now have a global presence in addition to their pan national presence. This translates into a lot of professionals travelling from India to many destinations across the world for business related activities. From the stand point of the firm proprietor, it is always ideal to have employees who can focus solely on work. Therefore, most intelligent proprietors who are involved in a business that requires their employees to travel try to facilitate the mental focus of their employees by providing them with group travel insurance. The idea behind the concept is that an employee who does not have to worry about trivial things would be able to focus on the professional tasks at hand more comprehensively
Group travel insurance plans are policies that a firm proprietor can buy for all his employees. While an individual travel insurance policy provides the insured with many types of benefits, a group travel insurance policy, turns out to be cheaper than an individual travel insurance policy. There are primarily two types of policies under this category i.e. international and national. The premium that needs to be paid depends entirely on this and the kind of coverage that the policy provides. The following are some details pertaining to the kind of coverage that group travel insurance policies provide:
- The most basic function of a group travel insurance policy is to provide protection against medical emergencies and their subsequent financial implications. This applies to both injuries and sicknesses.
- Some policies even provide reimbursement for immediate transport of the patient for better medical treatment. Also, there are instances when a policy provides compensation for travel expenses of a family member travelling to see the patient.
- Group travel insurance policies would also provide protection against passport and baggage loss or delay, flight delay or cancellation and even hijacking.
any successful entrepreneur would happily testify, having group travel insurance for his employees is a sure way of keeping them happy. Consequently, the performance of the company would be better as the employees’ happiness is directly proportional to the organisation’s productivity.