Student Travel Insurance
Student Travel Insurance
If you are reading this, you have likely secured admission into a course in a foreign country. After all the hard work of clearing entrance exams (GMAT, GRE, IELTS or TOEFL), writing your proposal, getting references and sending out applications, you have arrived at the final stage of your journey where you need to plan the trip abroad. There will be many items on your checklist: getting your visa, booking tickets, shopping, arranging foreign currency etc. Don’t forget to add travel insurance to the list.
A student travel insurance covers you financially against unexpected events such as sickness, theft or loss of baggage, accidents etc. It gives you the peace of mind you need when you are in a foreign country.
Why Getting Student Travel Insurance Is Important
Living and studying abroad can often be an overwhelming experience, especially in the initial period. That’s why purchasing the best travel insurance for your needs is critical. When you travel abroad, a lot could happen - sickness, theft or loss of baggage, accidents, loss or theft of passport etc.
Moreover, visa applications to many countries require a copy of the health and travel insurance policy document to be submitted and other paperwork. Travel insurance is mandatory for universities in the US, Australia, Canada and the Schengen countries.
However, it would be unwise to choose travel insurance just to fulfil basic visa requirements. Being underinsured is as bad as not having any insurance. As a student going to a foreign land, you need to be prepared for any eventuality. Student travel insurance will help you manage these unexpected challenges well.
Benefits of Student Insurance
Here are some key benefits offered by travel insurance plans for students studying abroad:
Accessible and affordable healthcare: Getting healthcare abroad when you need it can be complicated and expensive. Private institutions are prohibitively expensive and public hospitals and clinics, which offer the most accessible and affordable healthcare , do not treat patients without proper insurance.
Cover against loss and theft: Losing your baggage or belongings such as cash or passport can be a harrowing experience in a foreign country. An insurance policy covers you financially if such unexpected events do occur.
Comprehensive coverage: While many foreign universities provide overseas students insurance plans for health, they may not include non-medical expenses such as travel, family visits, and so on.
An insurance policy gives you and your child peace of mind knowing that you will be covered financially in the case of unforeseen expenses.
Insurers offer a variety of plans, with differing levels of coverage. Make sure your insurance policy meets your needs and gives you adequate cover.
Features of a Student Insurance Policy
What should you look for in an insurance policy when you are travelling abroad to study?
You will find a plethora of plans, each with different benefits and features, covering a wide variety of risks. But most of them will cover two basic situations: medical expenses (accident and sickness) and theft or loss. Besides these, insurers offer cover against legal fees, medical evacuation, compassionate visits etc.
Here are some of the features you would want in an insurance policy:
Accident and sickness: If you fall sick or meet with an accident, you will need to have proper coverage to pay the hospital and medical expenses. Medical treatment is prohibitively expensive in most countries and, if you don’t have insurance, it can be a significant drain on your finances.
Medical evacuation and repatriation: Sometimes, you may have to return or moved back home for treatment or post-treatment care. Many insurance policies provide cover against such an eventuality.
Theft and loss: Your baggage may get misplaced. Your pockets may be picked. Or your belongings stolen. Such unexpected events are part of global travel. Most insurance policies cover against:
- Loss of passport, travellers’ cheques, tickets etc
- Loss or delay of baggage during travel
Other features: Other key features that many insurers offer include:
- Maternity coverage
- Study interruption
- Compassionate visits by your parents or guardians
- Protection of your sponsors
- Personal liability
- Legal expenses
Travel Secure Student Plan by Royal Sundaram
Travel Secure is a comprehensive and feature-rich travel insurance scheme which offers specialised coverage to students studying overseas.
The Student Plan is designed to cater to the various unique needs that students face during their stay in a foreign country.
Some of the key features of the Student Plan are:
Study Interruption: If for some reason you have to take a break from the course you are pursuing abroad, the insurance will cover costs that may arise due to such an interruption.
Sponsor Protection: Your sponsor often acts as a guardian when you are studying abroad and is usually the first person to be informed in the event of a mishap. The insurance protects your sponsors as their well being is linked to yours.
Transit related issues: A lot can go wrong when you are travelling abroad, especially when moving to a new country for at least a few years. The travel insurance covers you if you miss a flight, and there is a delay in your trip. It also covers delay of checked-in baggage, loss of checked-in baggage and loss of passport benefit. The plan also covers you in the event your flight is hijacked. Loss of your laptop is also covered.
Accident and illness: If you have an accident or fall ill, the plan provides coverage for several expenses that you may incur. In addition to the accidental & sickness cover provided by the plan, you can also reimburse ambulance charges and other medical costs, including medical evacuation and physiotherapy. The policy also provides coverage if you die or are dismembered due to an accident. Suicide and a compassionate visit by your family are also covered. In the unfortunate event of your death, the insurance ensures that your family would not be burdened with expenses related to the repatriation of your mortal remains.
Other medical coverage: The plan covers aspects that are normally not provided in other insurance products. These include providing a maternity benefit (termination of pregnancy only), child care benefits, cancer screening and mammography examinations and treatment for mental and nervous disorders, including alcoholism and drug dependency. The plan also includes coverage for pre-existing conditions and dental relief.
Other Covers: The student plan also provides a personal liability benefit and assistance services. It also includes coverage for a bail bond or if you are arrested or charged with felonious assault (accidental death and dismemberment).
The Travel Secure Student Plan is available only to people between the ages of 12 and 40 and the premiums charged on the policy will depend on the sum insured, the number of days of travel and your age.
Unlike regular travel insurance, where premiums are paid for each trip, you can pay annually. The duration of this insurance can range from one year to seven years.
Travel Insurance by Bharti AXA
The Bharti AXA Travel Insurance policy offers comprehensive cover against a wide variety of events. These include:
Loss of Passport and Documents: Get reimbursed for actual expenses incurred by you to obtain a duplicate or a fresh passport. Also covers a reasonable cost for replacing or obtaining the stolen documents or tickets.
Home Fire Insurance Contents & Home Burglary Insurance (Contents): You can get coverage against any loss or damage to the contents of your home in India caused by a fire or due to a burglary or housebreaking while you were travelling.
Hijack Distress: You can claim a distress allowance if your airplane is hijacked.
Medical Expenses inclusive of Repatriation and Emergency Medical Evacuation: If you are sick or injured during your trip, your medical expenses are reimbursed. You can opt for cashless settlement at network hospitals or choose reimbursement within 30 days of hospitalisation. If you have to return home for treatment or care or evacuate in an emergency, your policy will cover the expenses.
Legal Expenses: You can get reimbursed for any legal costs and expenses while fighting for claims from third parties for compensation for death or disablement arising due to an injury.
Personal Accident: The scheme provides compensation if you get injured in an accident during the trip and the injury results in permanent total disablement or permanent partial disablement. You can claim this compensation within 12 months of the accident. In the case of death, your family can claim compensation.
Trip Cancellation or Interruption: Covers the non-refundable cost of the ticket if the trip is cancelled. Get reimbursed for the additional cost of transportation if your trip is interrupted.
Trip Delay: Reimbursement of additional expenses if your trip is delayed beyond a period due to airline problems, medical problems, personal employment problems or natural disasters.
Daily Allowance for Hospitalisation: If you are hospitalised, you can claim a daily allowance for the days you were in the hospital.
Emergency Accommodation: You can get reimbursed for the cost of emergency accommodation if you could not stay in the accommodation you had originally booked due to a disaster such as a flood, earthquake, storm, hurricane, explosion, or outbreak of a major infectious disease.
If you have a claim, you can get assistance 24x7 from Bharti Assist Global in 130+ countries.
Frequently Asked Questions
When you are travelling abroad as a student, you need all the financial security you can get. Insurance provides peace of mind and financial cover against unexpected events such as an accident, theft of your baggage, a medical emergency, missing your flight or losing your passport.
It is important to select a plan that meets your needs. Choose a plan based on the country you are travelling to, the length of your stay and the state of your health.
Before you buy, compare features and premiums.
Read the policy wordings carefully to understand what is included and excluded in the policy. As a student, you should check if there is an annual policy covering multiple trips over many years.
Purchase student insurance online: You can compare and choose the best plan online. It would be best if you did your research before choosing a plan that meets all your needs.
Don’t wait until it is too late: While other aspects of the admission process are important, you should not delay opting for a student insurance plan. Make sure you buy one as soon as possible, ideally around the time you book your tickets.
Check how much coverage you need: Most universities offer some health insurance to their students, often mandated by laws in their country. You should find out what that insurance covers. No point paying twice for the same type of coverage.