Travel accident insurance is seen as an inexpensive and valuable employee benefit tool for recruiting and retaining managers and executives who travel within the U.S. or abroad – particularly in a climate marked by international terrorism.

So says Harry Ennevor, president of brokerage house E.G. Bowman Co. Inc., in a recent commentary. While he writes that nearly all major corporations and institutions pay the full cost of coverage, smaller employers often offer it as a voluntary benefit, with premiums fully or largely paid by participating employees.

He also cited a recent Society for Human Resources Management survey showing that nearly half of employers offer this benefit.

Coverage, which is available for all modes of transportation, can be tailored to a company’s risk profile – featuring two basic policies, one that covers both business and pleasure 24/7 and a cheaper option that’s restricted to business travel.

Dependents who are included on a business trip or corporate relocation also may be covered, while death benefits may be in the $500,000 range and higher, Ennevor explained. Covered benefits include death and dismemberment, as well as medical and temporary disability payments.

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