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COVID 19: Don’t risk studying abroad without student travel insurance

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A large part of student life involves gaining new experiences and exploring uncharted avenues. With the aim of giving a better shape to their future, the young guns travel great lengths, sometimes literally. 

In India, a degree from a noted foreign university is greatly valued and increases the chances of the students landing a well-paying job. In fact, according to the UNESCO Institute of Statistics, the total number of Indian students overseas went from 66,713 in 2000 to 3, 01,406 in 2016. The numbers kept growing until the coronavirus pandemic created an atmosphere of chaos and uncertainty. But gradually things are getting better. 

Leaving a comfortable life at home to go to a foreign country to pursue education was never easy, and now, the students have to be more careful to stay away from infection. To deal with medical emergencies, financial problems, or situational, a ‘travel insurance for students’ plan will come in handy. 

1. What is International Travel Insurance for students?

We all know how costly it is to afford medical treatment in a foreign country and how situational hazards like luggage and documents theft can leave a student running from pillar to post. Meanwhile, either the parents get worried at home, or they have to rush to another country to take care of their child. In all such cases, time, energy, and money, all are wasted. 

A student international travel insurance policy works as a shield in such unfortunate events. It provides financial assistance during medical emergencies, financial problems, and situational difficulties. The policy covers accidental death, where the nominee is paid the insurance amount and also pays for legal support when needed. 

2. How to Purchase Student Travel Insurance Policy?

First of all, you should do some research about the best offers and discounts provided by different insurers and compare them. You can find all the relevant information on their website and apps. Also, by buying  Overseas Travel Insurance online, you would be cutting down the cost spent on the insurance agent’s commission. Pick the policy that offers maximum benefits and charges a lower premium.

3. Importance of Overseas Travel Insurance for students

A student going to study in a foreign university may not necessarily be from an affluent family. He/she may be going with the help of a scholarship or student loan. They expect that their higher education will strengthen their career prospects and therefore, would want to concentrate on studies leaving behind other worries. Not all policies have the same terms and conditions, but a travel policy will help you:

• Manage finances during hospitalization, flight delays, or other emergencies like thefts or loss of important documents. It reimburses the money lost in cases of fatal injuries, permanent disablement, unexpected sickness and procuring lost documents, etc. 

• It also bears the cost of the visit by one family member if the insured party stays in the hospital for over seven days.  

• It pays for the tuition fee for the time when studies are interrupted due to hospitalization of the insured. It also reimburses the advance payment if the policyholder is forced to terminate studies due to illness or death of his/her sponsor. 

Usually, travel insurance schemes for students are available in the age limit of mid-teens to the late 30s. It’s important to note that the insurance generally doesn’t cover health issues caused by pre-existing conditions, or when it is discovered after inspection that the reason behind the travel was treatment rather than education. You should be well-aware of the inclusions and exclusions of the policy.

Conclusion

An Indian student staying abroad must have travel insurance. When living amid a pandemic, without travel insurance, he/she might end up paying more for treatment than as college fees. Also, it’s equally important to get it renewed before the policy expires.

Disclaimer: The above information is for illustrative purpose only. For more details, please refer to policy wordings and prospectus before concluding the sales.

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