Travel Insured this month became the first third-party insurance company to add 1-year Job Loss as a feature included in our Cancel for Work Reasons Option, available with every plan in our Worldwide Trip Protector family of products. Travelers must purchase this option within 14 days of initial trip deposit to receive coverage for a 1-year Job Loss, as well as other job-related reasons described below.
The job loss feature means that your clients who have held a job continuously for one year at the employer where their job is terminated can be covered for Trip Cancellation provided they have obtained the Cancel for Work Reasons option. The option, with no change in price from its $24 premium, includes other work-related reasons for which Trip Cancellation may be covered. They include a documented requirement to work in conflict with your client’s scheduled dates; a company made unsuitable for business by natural disaster, vandalism or burglary; a company acquisition involving the insured; or a required job relocation of 250 miles or more.
Your clients who prefer to decline the Cancel for Work Reasons Option still have Job Loss Protection included with every Worldwide Trip Protector plan that provides coverage for jobs they have held for a continuous three-year minimum prior to the job being lost.