Important Reasons for Students to Get Health Insurance
A large number of students travel abroad to pursue higher education since globalization has eliminated geographical boundaries. This allows you to pursue your dreams and acquire the best education from an international university.
An important concern is your safety when you travel outside the country. This may be overcome by purchasing overseas travel insurance. This type of policy ensures your studies are not interrupted because of medical and non-medical emergencies.
Here are three reasons why health insurance plans for college students are important.
1. Meet costs of medical emergencies
In case you fall sick or are injured in an accident, the treatment costs could be unaffordable in an international healthcare facility. In the United States of America (USA), consultation fees charged by a doctor may be around USD 300 to USD 350. Healthcare costs abroad are significantly higher than domestic expenses. Medical insurance plans for college students will cover medical emergency costs such as accidental death or permanent disability, dental emergencies, and medical evacuation.
2. Non-medical emergency coverage
As a student living alone in a foreign country, there may be situations when things go wrong. The costs of overcoming such situations may be very high and availing of the best health insurance for college students will be beneficial. These plans cover non-medical emergencies such as loss of passport, delay or loss of baggage, and study interruption, among others.
3. Meet mandatory requirements
Most international universities require students to be covered under an overseas travel insurance plan. Buying student health insurance in India is significantly cheaper than availing of one in the foreign countries. It is, therefore, recommended you purchase this coverage before leaving the country.
Most insurance companies offer overseas travel insurance for students. Here are the general eligibility criteria you must meet to avail of such coverage.
You must be between 16 years and 35 years of age
You must travel to pursue higher education in a foreign university
You may be eligible if you are already a student in an international institution
Here are some benefits of student’s health insurance plans.
1. Emergency medical expenses
Health insurance for students policies reimburse expenses incurred due to an unexpected sickness or an accident. In case, you need to be repatriated home for treatment, the plan will reimburse the expenses as per the terms and conditions. Furthermore, if you pass away, the insurer pays the costs of repatriating your corpse home. If you are permanently disabled, you receive compensation as per the policy terms.
2. Personal liability
If you are legally liable to pay damages resulting from a lawsuit for property damage, the insurer will cover the same. The health insurance for college students also covers bodily injury to another person in case of an accidental lawsuit against you.
3. Other benefits
The insurer reimburses expenses in case your sponsor passes away, your studies are interrupted, a family member needs to make a compassionate visit, you require pregnancy treatment, or childcare benefits. It is recommended you read the policy document to understand the exact inclusions and exclusions before making your choice.
Contrary to common perception, you are able to receive comprehensive coverage for a small premium amount. For a small amount, you enjoy the peace of mind knowing that you are covered in case of an emergency. Several plans are available and comparing health insurance quotes for students before making your decision is a wise option.
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