Studying Abroad? Know Everything About Travel Insurance

How Does Student Travel Insurance Work?

Getting an education abroad has always been a coveted dream of many. The good news is that more and more Indians are now able to travel abroad for studies, irrespective of their financial status and backgrounds.

The anxiety of shifting to another country, adapting another culture and changing your lifestyle is extremely overwhelming for most of us. However, getting used to everything along with focusing on your studies is rarely easy. All these things can be extremely unsettling and very bothersome if you ever find yourself in a pickle.

This is where student travel insurance plans come to your rescue. This special product is curated for students in a wide age bracket (16-40 years) and takes care of almost every major emergency that can hinder your education. It combines the benefits of health insurance and travel insurance in one and offers much-needed protection in a faraway place.

These plans are valid for up to 2 years in most cases and can be purchased for a shorter duration depending on your study plans.

Why Should You Buy Travel Insurance for Studying Abroad?

As the entry restrictions across UK, Australia, USA and Canada have been lifted, over 133,000 Indian students left for higher education abroad in the first quarter of 2022. These students are studying across 85 countries in the world, ranging from extremely wealthy nations like the US to more affordable options like Malaysia and South Africa.

Whatever be the place of study, staying in a foreign country is hardly easy. While the thrill and novelty of living in a completely new country is a lot, so are the chances of things going wrong. From weather differences to becoming a victim of fraud, you can easily burn a never-ending hole in your pocket.

How Does Student Travel Insurance Benefits You?

A range of student travel insurance policies are available in India, catering to almost all kinds of students and coverage as per their university or country requirements. While buying travel health insurance may be the last thing you may feel like doing, it's extremely important. Especially if your university or the country you're going to has made it mandatory.

For instance, while education is free in most German public universities, you must have at least EUR 30,000 travel health insurance coverage. Let’s take a look at some benefits of student travel health insurance plans:

• Pays for any medical costs incurred while studying abroad, including hospitalisation expenses due to accident, sickness or injury. This is very helpful as the US lacks a public healthcare system and the cost of medical care if immense.
• Covers any loss because of disasters like missed flights, lost baggage, stolen passport and even lost laptop.
• Some plans may offer specific benefits like treatment for nervous/mental disorders, pregnancy-related medical expenses, cancer screening, childcare benefits and more.
• Special coverage like bail bond, sponsor protection, study interruption, compassionate visit, dental treatment etc. is also offered by some insurers.
• Covers several major medical expenses in case of eventuality, including repatriation of mortal remains. It also covers permanent disability and accidental death due to personal accident.

Please note that the exact coverage varies from insurer to insurer. Don’t forget to confirm the exact coverage before buying a plan.

Things to Consider While Buying Student Travel Insurance Plan

• Confirm if your university accepts Indian student travel insurance plans, as some universities require you to buy it from a partner insurance companies.
• International student health insurance purchased abroad are often more expensive than the plans offered by travel insurance companies in India.
• Apart from college and research opportunities, global universities also invite international students for short term courses and diplomas at affordable costs. This doesn’t mean that you should skip on buying student travel insurance- even if a course is hardly 6 months long, you must buy travel insurance for the time you stay there.
• Make sure to declare any pre-existing health conditions if any, otherwise you may get no benefit later.
• Confirm with your insurer if emergencies like medical evacuation and terrorism incidents are covered.
• Ensure that the medical coverage is offered not just at network hospitals but other places outside their network.
• If you're married or have dependents coming along, invest in a higher sum insured plan that benefits them.
• Finally, make sure to compare different travel insurance plans on Policybazaar.com before buying.

Keeping it Short

There’s a stark difference between India and other countries when it comes to their economies and lifestyle. While India is somewhat affordable, it also has help ready in case you need support. On the other hand, wealthy nations have sky-rocketing healthcare and legal expenses that may cost you a great deal if not taken care of. If you’re heading overseas for studies, do keep these pointers in mind and buy a good student travel insurance plan for your overall safety.