A new type of travel insurance cover is set to arrive in Australia with the aim of meeting the work and leisure travel needs of professionals, small businesses, and self-managed super funds.
The Professionals Travel Cover, set to launch in Australia next week, will allow individuals to purchase a single annual travel insurance policy to cover up to 10 colleagues in the same practice, office, or small business for multiple trips, both domestic and international, throughout the year, Travel Weekly reported.
Ian Jackson, Professionals Travel Cover managing director, said the offering is the most cost-effective travel insurance currently out in the market for multi-travel.
“From $167 per person for a single annual policy that covers up to 10 travellers, businesses can save more than 70% compared to other retail travel insurance products on the market,” he said.
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The policy is tax-deductible, does not require pre-existing medical conditions to be declared, and does not increase premiums for older travellers.
Jackson said professionals usually purchase stand-alone individual cover or source through insurance brokers, which are usually expensive and designed for larger corporates.
“Our vision was to fill this void with a less complex, easy to purchase product that could be applied quickly online specifically for professionals,” said Jackson.
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