Going abroad for higher studies? Here’s why student travel insurance is a must

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Published: July 5, 2016 1:12:11 PM

Student travel insurance can be made an integral part of your financial plan for your study life abroad.

Student travel insuranceStudent travel insurance can be made an integral part of your financial plan for your study life abroad.

The academic year is set to begin in global universities soon with scores of Indian students preparing to travel to abroad for higher studies.

If you are one such student set to take the flight in the coming months, you would have been busy with admission formalities and arranging finances for your education. Visa requirements must have also been on top of your mind. Amid all this, have you considered buying a student travel insurance for your journey?

Student travel insurance can be made an integral part of your financial plan for your study life abroad. “While admission in a foreign university presents an exciting opportunity, it has its own set of uncertainties and risks. For instance, staying away from loved ones in a new country, can cause much anxiety to students and parents alike. Unexpected misfortunes such as Loss of baggage, dental problems, sickness or accidents can put any meticulously planned budget in disarray,” Abhijeet Ghosh, Head, Health Administration Team, Bajaj Allianz General Insurance told FeMoney.

He said that even the university you are travelling to does not mandate you to carry a a travel insurance cover, it is still advisable to purchase it as a protection against unforeseen events. Any passenger travelling abroad on student visa is eligible for the insurance cover.

Anuj Gulati, MD & CEO, Religare Health Insurance, says carrying student insurance is advisable for those going abroad to pursue higher studies since it provides comprehensive student-specific travel insurance including medical, study and travel-related benefits.

Both Bajaj Allianz General and Religare Health provide student travel insurance for a sum assured of up to $1 million.

“We provide optional covers to match mandatory requirements of International Universities. Religare Health Insurance’s Student Explore’s cover ranges from new-age features like ‘Loss of Laptop’, ‘Sponsor Protection’, ‘Bail Bond’, ‘Coverage in Home country’ and ‘Extended Coverage in country of residence’,” Gulati said.

Ghosh says the main benefit of student travel insurance is the wide coverage they provide. “The main features of Student travel insurance are medical and non-medical covers. It covers hospitalisation expenses in case the student is hospitalised due to any illness or accident. Also in case if an accident necessitates medical evacuation to India, it is covered too. If an unfortunate event leads to the insured student’s death, the policy would provide cover for repatriation of mortal remains. Other covers provided in the plan include dental treatment cover, cover for tuition fees, cover against loss of checked baggage, personal accident cover, loss of passport cover, cover for accident to sponsor, family visit as well as personal liability cover,” he points out.

In case of specific university requirements, covers provided include pre-existing illness, maternity cover, cancer screening and mammography, HIV cover, mental and alcohol-related disorder covers, Ghosh says.

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