For the students going overseas this year for their higher studies, it is imperative to take a good travel insurance. It offers a requisite safety net in case of any eventuality such as a critical illness. Keeping in mind the high cost of medical care, particularly in overseas taking a travel insurance is nothing short of mandatory.
Not only does it cover the exorbitant medical cost, but also miscellaneous expenses such as loss of passport, flight delay, baggage delay, personal liability and sponsor cover.
“It is advised for students to buy student travel insurance while going abroad for study as the it doesn’t just limit itself to insure students against loss of passport, flight delay, baggage delay, and baggage loss but acts as a safety net for them if they get into any trouble or unknowingly cause damage during their stay overseas,” said Amit Chhabra, head of travel insurance at Policybazaar.com.
“While the foremost reason for them to buy travel insurance is to cover the medical expenses as the cost of medical care is quite exorbitant overseas,” he added.
Some of the student travel insurances plans:
Bajaj Allianz Travel insurance: Bajaj Allianz student travel insurance plan covers medical expenses and accident covers, unique features like family visit, sponsor accident cover and one policy for whole year.
Tata AIG Student Travel Guard: It offers cover for accidents and illnesses, compassionate visits, study interruption, travel assistance, hijack cover, personal liability, baggage loss or delay. Although you pay in rupees while buying the insurance, the coverage is offered in dollars.
Future Generali Travel Insurance: Known as Future Student Suraksha, the coverage offers medical expenses, tuition fee reimbursement, loss of passport, baggage delay, baggage loss and sponsor protection.
Care health insurance: Student travel insurance offers emergency hospitalisation, pre-existing diseases, treatment in home country, medical evacuation, loss of international driving licence and study interruption.
(The list is indicative)
It is vital to note that there are some plans covering tuition fees refund in case of study interruption, loss of laptop, parents’ visit if the student is hospitalised.
When it comes to the insurance cost, the money spent on buying student travel insurance is small in comparison to the overall cost of education abroad. So, not having it in your travel checklist is irrational.
“Travel insurance is compulsory in most countries. Therefore, one must make sure that they are buying an adequate amount of coverage according to their stay. It should be able to provide financial cover for most of your travel-related as well as health-related losses. Also, if you like adventure sports then you must enquire about such inclusions or opt for such add-ons. Lastly, if you have any pre-existing medical conditions then you must declare them at the time of purchasing the policy. You must note that no Travel Insurance policy will cover planned hospitalisation in any circumstances,” added Chhabra.
Naval Goel, Founder and CEO of PolicyX, said the students should make sure that travel insurance aligns with criteria set by the college.
“Many universities have a set of rules pre-decided for student travel insurance like coverage for pre-existing illnesses, adventure sports etc. So, make sure that your travel insurance is in line with the criteria set by your college. Apart from this, opt for higher coverage as medical examinations are costlier in foreign countries and go for add on covers for extra protection,” he said.