Student Travel Insurance Demystified

Stay safe with Student Travel Insurance

Student Alert

• Read the university's documents carefully, paying special attention to the terms related to insurance.
• Cross-check your university's requirements with the terms of the insurance that you are purchasing.
• Look out for any special clause in the documents.

Student Travel Insurance Plan and how you can benefit

According to a recent report by Forbes, more than 4.64 lakh students travel abroad every year to pursue higher education. Renuka Sharma, a working professional and mother of two, said, "My elder son, got an admission for Masters of Engineering course in Australia last year. The distance did worry me. But, more than that one question kept haunting me - Will he be able to tackle any financial or medical emergency with ease?"

Like Mrs. Sharma, many parents suffer the anxiety of separation. The practical solution here is to opt for an insurance plan that supports students studying abroad and shields them from the financial impact arising out of an emergency. However, such student travel insurance plans must be bought with utmost care, as any confusion regarding the policy or its extent of coverage can be counter-productive.

Here we dispel a few myths about student travel insurance.

• Myth 1: Student Travel Insurance covers only travel

  If you thought that Student Travel Insurance covers only travel, think again! You will be pleasantly surprised to know that it encompasses much more than just travel coverage. It covers all the medical expenses during the student's stay abroad. The loss of baggage and documents is also covered and it financially safeguards the student against damages due to third party claims or any personal legal liability. In case of hospitalization, it covers the expenses of compassionate visits by student's parents as well.

  There is a high possibility that the student may extend his stay beyond the initial period. Thus, Student Travel Insurance can be extended or renewed online, at the click of a button.

• Myth 2: You need to buy from the country of study

  Most people believe that the insurance has to be bought from the country of study. Indian insurance is accepted by most foreign universities. It works out to be cheaper and more convenient for you, since you pay your premium in Indian Rupees.

  What's more, most Indian insurers have tie-ups with major hospitals abroad and issue Health Cards that help avail cashless hospitalization in case of emergencies. In case of reimbursement, students are provided with a toll free number for guidance regarding the claim. The required documents then need to be sent to the Third Party Administrator, who will then settle his claim.

• Myth 3: The insurance offered by the university is sufficient

  Many foreign universities offer medical insurance; do not get carried away by this as it might only cover medical expenses. With Student Travel Insurance, you get a much more comprehensive cover.

  Apart from medical expenses, it also covers dental expenses, sports injuries, and mental or nervous problems. Most policies offer compensation, in case of interruption of studies due to medical issues.

  Student Travel Insurance is the best gift you can offer as your child sets out on the journey to pursue professional goals. You can ensure that your child's life abroad is smooth and hassle-free, by choosing a comprehensive Student Travel Insurance plan.