In this day and age, technology is capable of bringing together bright minds from opposite sides of the globe – but sometimes web-based meetings just aren’t enough to make a real connection. Travel can be an integral part of maintaining business relationships and while most companies agree they should provide additional benefits and support to their employees when they’re traveling on company business, many employers still haven’t purchased Business Travel Accident (BTA) coverage. The question is why not?
BTA plans provide flexible global or domestic protection to employees on business travel. This includes an additional layer of accidental death or dismemberment protection along with enhanced travel assistance support. More importantly, these plans protect against loss of a key employee while on business travel and the repercussions to the family of the employee and the company itself.
Unfortunately, not all regions of the world have the most predictable or stable political situations. The weather or other factors can also pose a potential threat. Depending on the countries that your company travels to, your BTA program can be customized to include coverage for travel to war risk countries, political evacuation, natural disaster evacuation, relocation or out-of-country medical coverage, to name a few. Enhanced travel assistance support includes benefits like pre-departure planning, emergency medical assistance, assistance with stolen items and emergency medical evacuation.
The options with BTA plans continue – companies that own or lease aircraft or watercraft may provide coverage to their executives and pilots when using these crafts. Groups that choose to differentiate benefit levels by class will often provide richer benefits to their executives and expand that coverage to business and pleasure for 24-hour protection. Coverage may even be extended to company guests and related non-employees, such as members of your Board of Directors.
Annual BTA premiums are typically a fraction of the cost of most other employer-paid benefit programs. Small- to medium-sized companies can obtain the same high benefit amounts that are generally provided to large employers. Implementing a BTA plan is also an inexpensive way to enhance your company’s benefit package and fills the benefit gap that is created when your employees are traveling on company business. So what are you waiting for?