Group Travel Insurance

Group Travel Insurance

Group travel insurance is a means of buying a policy that will cover a group of 5 or more people, who are not necessarily a family, for travelling abroad on a trip at the same time. Elaborating further it covers a group of people, usually who are the members of societies, employees of a common employer, or professionals in a common group.

A feature which is sometimes common in group insurance is that the premium cost on an individual basis may not be risk-based. Instead it is the same amount for all the insured persons in the group. So, for example, in the United States, often all employees of an employer receiving health insurance coverage pay the same premium amount for the same coverage regardless of their age or other factors. In contrast, under private individual health insurance coverage in the U.S., different insured persons will pay different premium amounts for the same coverage based on their age, location, pre-existing conditions, etc.

Group policies are also attractive to consumers because the average price per policy is often lower. Carriers are interested in gaining customers and will cut prices a bit to accommodate members of group.

You might be travelling with family or some friends to a foreign wedding or any function, or to take part in activities overseas with your club, either way, using Group travel insurance , rather than everyone buying their own travel insurance policy, is likely to save you money. Even Travel insurance for Group offer the same benefits and coverage as the individual travel insurance policies.

Requirements of a Group travel insurance :

  • Number of People: 5 or more people
  • Everyone Travel Together: start date & end date should be same for Everyone in group.
  • Insurability of Each Member: Everyone in the group should should meet the basic eligibility criteria for a particular travel insurance policy.