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What is Corporate Travel Insurance?

By Finserv MARKETS - Sep 13,2019
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Corporate Travel Insurance Explained

Growing businesses are constantly struggling to build a strong network across the globe. Every entrepreneur has to travel back and forth for developing a global clientele base. However, the chances of uncertainties are high while travelling overseas. The unpredictability of life at any given point of time has paved the way for overseas travel insurance for corporate travel.

Before opting for a travel policy to cover your business venture, understand the basics of the plan. Here’s everything you must find out about travel insurance plans for your corporate travel. Take a look below:

What is Corporate Travel Insurance?

As the name suggests, corporate travel insurance is purchased by those working professionals who fly abroad for business. The primary aim of the policy is to provide adequate travel insurance coverage to the employees. Moreover, it protects the company from the financial disruptions caused by unfortunate events like sudden illness, accidents, and travel delays.

On the other hand, every individual must consider the inclusion and exclusions covered under travel insurance policy. Under a corporate travel policy, the insurer allows the following inclusions mentioned below:

Inclusion of corporate travel insurance:

  1. Baggage loss or misplacement
  2. Flight cancellation or delays
  3. Emergency cash benefit
  4. Medical emergency and evacuation
  5. Hijack coverage
  6. Coverage against loss of passport and checked baggage
  7. Accidental death benefit
  8. Medical repatriation

Identifying the exclusions of the policy plays a significant role. Moreover, knowing the exclusions ensures that the claims aren’t rejected. Go through the following exclusions mentioned in Bajaj Allianz travel insurance. Take a look below:

Exclusions of corporate travel insurance:

  1. Emergency or hospitalization due to pre-medical condition
  2. Loss due to the consumption of alcohol or drugs
  3. Overseas trip for cosmetic surgery or medical treatment
  4. Overseas travel journey for participation in high-risk sports like bungee jumping, scuba diving, and so forth
  5. Flight cancellations or delays due to strikes, protests, etc.

To sum up, corporate travel insurance offers sufficient protection for a business trip. Bajaj Allianz travel insurance from Finserv MARKETS provide their policyholders with hassle-free settlements as well as 24×7 assistance. Moreover, the travel plans from Finserv MARKETS are available online with no requirement of hefty paperwork. It is the most convenient, immediate, and affordable solution.

“Finserv MARKETS, a subsidiary of Bajaj Finserv, is a one-stop digital marketplace that has been created for consumers on the go. It offers 500+ financial and lifestyle products, all at one place. At Finserv MARKETS, we understand that every individual is different. And that’s why we have invested in creating a proposition – Offers You Value. A value proposition that ensures you get offers which are tailor made for you. We also offer an amazing product range and unique set of online offers across Loans, Insurance, Investment, Payments and an exclusive EMI store. Be it in helping you achieve your financial life goals or offering you the latest gadgets, we strive to offer what you are looking for. From simple and fast loan application processes to seamless and hassle-free claim-settlements, from no cost EMIs to 4 hours product delivery, we works towards fulfilling all your personal and financial needs . What’s more! Now enjoy the same benefits in just one click with our Finserv MARKETS App.”

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Bajaj Finserv Direct Limited ("BFDL"), erstwhile Bajaj Financial Holdings Limited is a registered corporate agent of Bajaj Allianz Life Insurance Company Limited and Bajaj Allianz General Insurance Company Limited under the IRDAI composite registration number CA0551 valid till 10-Apr-2021. BFDL also renders services to Bajaj Finance Limited (‘BFL’) and Bajaj Housing Finance Limited (‘BHFL’) (referred hereinafter as ‘Lending Partner’) in sourcing of customers, providing preliminary credit support activities, fulfilment services and post-acquisition customer services related to lending business. Registered Office: Bajaj Auto Limited Complex, Mumbai – Pune Road, Akurdi, Pune – 411 035 CIN: U65923PN2014PLC150522