If you are planning to get an education in a foreign university then you will need to safe-guard yourself with a student travel insurance policy. A student travel insurance provides the safety-net you need to travel as a student and get your education. A lot of pre-planning and preparation goes into the process of getting admitted to a reputed foreign university with a limited number of seats. This involves accumulating a lot of knowledge about the university, preparing for the foreign exams like TOEFL , GMAT, GRE , IELTS and others, preparing for the hefty fees, hostel stay, other educational expenses, visa process, flight tickets and so on. During this process, one often forgets that traveling and staying in a foreign country comes with added risks which can be overcome with a student travel insurance.
Traveling to a foreign land for education invariably involves flying and it often leads to lost or stolen baggage, damaged goods or other unforeseen accidents related to traveling that can be mitigated by a travel insurance. There are many insurance players in the market and choosing the right insurer is key. Leading insurance companies like TATA AIG can be a safe bet. However, you should definitely check if a particular travel insurance product meets your needs.
In addition to these, falling ill in a foreign country adds its own set of risks. Even a small health condition like fever or a health checkup involves a lot of expenditure compared to the medical check-up in India. A serious disease can substantially dent the bank balance and affect the finances meant for the education of the student. This can be avoided by buying a good student travel insurance and most travel insurance policies address the medical expenses of the students studying abroad.
These days most foreign universities have made it mandatory for students to have a travel insurance policy that covers for travel and medical expenses to provide for any exigencies for the duration of the study. So, it is prudent to list travel insurance during the preparation process and to buy a student travel insurance policy from the home country when you aspire to study at a foreign university. Otherwise, you may be forced to buy travel insurance from the university and buying travel insurance from abroad often leads to shelling out a lot more than a policy bought on the Indian shores.
Before buying a student travel insurance you should educate yourself on what it covers and what it doesn’t cover. All travel insurance policies insure for any lost, damaged or stolen baggage and lost passport during your travel. It also covers for medical expenses incurred by a student during the period of stay at the university. However, the extent of support under such policies varies from provider to provider. Many travel insurance policies cover the cost of flying the student home after the medical treatment costs in a foreign country are met. Some policies also cover flying a relative or a friend to the student location during the period of treatment so that the student is well looked after. Some other policies ensure that the student receives medical treatment like the locals which saves a lot of expenses. Some policies also cover maternity benefits, hijacking, and even accidental death. Most insurance policies also cover for any delayed or canceled flights. In some cases, the policy covers for bail if the student is arrested for a bailable offense in the foreign country. Some policies also provide for any pre-existing medical conditions at the time of buying the policy.
In most cases, a student needs to be at least twelve years old to avail a student travel insurance while the proposer should be at least 18 years old. While buying the student travel insurance policy, you will need to check these aspects of the policy. The cost of the policy is an important factor, but beyond that, you will also need to educate yourself on the claim settlement ratio of the insurance company you buy your policy from. This knowledge will prevent any unpleasant eventualities if you need to file a claim in case of any exigencies during your studies. You should also be mindful of the policy deductible which is the out-of-pocket expense that needs to be borne by students to avail the medical insurance benefits.
If you have any specific requirements for the period of study, then you will need to verify whether your policy covers such specifications. For example, you may want to fly back home several times during your study period, you may want to visit a family friend in a neighboring country or plan a vacation to an adjacent country during your stay or have other plans. You need to check with your insurance provider if such trips and travels are covered under the student travel insurance. If not, then in most cases you will have the option of buying an additional cover to insure such specific requirements. Having a student travel insurance helps you to stay covered and focus on your education without being concerned about any untoward incident during your travel to a foreign country as a student and during your education away from home.