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Insurance Article

Top 5 Features of Student Travel Insurance

April 17 2015

Secure your stay with comprehensive student insurance

While living alone in a foreign land can be exciting, it can be equally challenging. When you are starting your journey into the unknown, you should not burden yourself with the pressure of 'what if', especially regarding your health and finances.

You can secure your foreign stay by availing a comprehensive student travel insurance policy that covers unexpected medical as well as non-medical expenses.

Domestic or Foreign?

Certain foreign universities make it mandatory for students to avail an insurance policy during their stay on campus. While some universities provide a policy, others expect students to avail a policy themselves. As the premium for such policies purchased from the host country is payable in a foreign currency, it would most likely burn a hole in your pocket. Thus, it is wise to select a domestic student travel insurance policy provider that offers an insurance cover compatible with your foreign university's requirements.

Deciding Factors for Choosing a Student Travel Insurance Policy

Choose an insurance company based on its:
Ability to provide cashless facility
Extensive hospital network
Seamless claims settlement process
Reliable track record

Top 5 Features Your Travel Policy Must Have

Look out for these features before zeroing-in on a policy:

Comprehensive Medical Coverage

Medical emergencies can take a toll on a student's health, finance, as well as academics. It can result in a turbulent situation for the student and his family members. Ensure that your student travel insurance policy offers comprehensive medical coverage and features cashless medical treatment, reimbursement of health expenses and travelling cost to the nearest physician or hospital in case of an emergency. Your comprehensive student travel insurance policy must provide compensation for a personal accident as well.

Two-Way Compassionate Visit

In case a student is hospitalized, the compassionate visit feature covers travel and accommodation expenses incurred by a family member to visit the student. This also covers expenses if the student wants to visit his ailing family member back home.

Personal Liability & Bail Bond

You may be unfamiliar with foreign laws and might end up accidently flouting rules causing inconvenience or financial loss to a third party. A travel insurance plan with Personal Liability and/or Bail Bond cover can come in handy in such a scenario. It would shield you from the costs arising due to a legal liability.

Study Interruption

Educational institutes abroad generally charge semester fees in advance. The study interruption feature secures you from incurring a loss and reimburses your current semester fees in case you discontinue your course. This could be due to a medical mishap or compassionate reasons for traveling back home.

Sponsor Protection

This feature protects your financial investment like the study interruption feature. It reimburses tuition fees for the remaining period of education in case of death of the student's sponsor. The extent of reimbursement is determined on the amount of sum insured.

You can avail comprehensive student travel insurance online as well. Go through the insurance company's website, research, understand the policy, determine the right package, make the online payment and avail the policy instantly.

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