Many travel insurance pans protect travelers when a trip is affected by circumstances relating to employment. Travel Insured wrote an article elaborating on this coverage. The following is an excerpt from the story.
Job Loss Protection and Cancel for Work Reasons
Job Loss Protection is included in each of the four types of Worldwide Trip Protector plans, including Worldwide Trip Protector, Worldwide Trip Protector Gold, Trip Protector Lite, and Trip Protector Lite Expanded. The coverage says that if either you or your traveling companion is terminated or laid off from employment after working continuously for at least one year at the place of employment where the job is terminated, you have a covered reason for Trip Cancellation or Trip Interruption. You may either cancel your trip to receive up to the full, prepaid, non-refundable trip cost, or interrupt your trip during which the job termination occurs and receive reimbursement of the unused, non-refundable portion of the trip plus any extra return air expenses not covered by a credit from your existing return airline ticket.
A second Travel Insured safety net addressing the employed vacationer’s concerns about job security is the Cancel for Work Reasons Option, available as a $24 Upgrade in each of the four types of Worldwide Trip Protector plans. This option provides multiple covered reasons for the insured traveler to cancel and obtain coverage if an unforeseen mandatory job assignment conflicts with a prepaid, scheduled vacation.
Cancel for Work Reasons Coverage can apply if:
- You or your traveling companion is transferred by the same employer one of you had on the effective date of your policy, requiring a relocation of your or their primary home
- You or your traveling companion has an unforeseen requirement, documented by your employer, to work during the scheduled vacation
- You or your traveling companion’s company is involved in a merger or acquisition in which one of you is directly involved and an active employee or
- You or your traveling companion’s company operations are interrupted by fire, flood, bankruptcy or default, burglary, vandalism, or even a product recall
Travel Insured customers have between 14 and 30 days from their initial trip deposit to obtain the upgraded coverage, depending upon the type of insurance plan they select. They must purchase the Cancel for Work Reasons Option at the same time they purchase one of the four plans that offer the upgrade. Whether or not they add the option, however, the Job Loss Protection is still included in each of the plans starting from the plan’s effective date.