Studying abroad? Keep hassles away with your Travel Insurance

A degree from a renowned international university is greatly valued and increases the chances of landing a well-paying job. Therefore, every year, thousands of Indian students go to study at a foreign university with the aim of giving a better shape to their future. Their numbers kept growing steadily till the Coronavirus outbreak ushered in a sense of dread and created an atmosphere of uncertainty.

But as we look to enter 2021, things are getting relatively better with most cities reopening. Students are also returning to their universities. But this time, they have to be extra careful to cover themselves against the risk ofa COVID-19 infection. They must also ensure that to deal with any medical emergencies, financial or situational problems, they have a robust travel insurance policy.

 

1. What is covered under the policy?

Though one policy may differ from another, student travel insurance generally covers:

• Expenses of hospitalisation and emergency medical evacuation. The policyholder gets cashless treatment. It also bears the cost of the visit by one family member if the insured party stays in the hospital for over a week.
• It reimburses emergency dental expenses as well.
• It pays for the tuition fee for the time when the insured party’s studies are interrupted due to prolonged hospitalisation. It also reimburses the advance payment if the policyholder is forced to terminate his/her studies due to illness or death of his/her sponsor.
• Expenses occurring due to flight delays and cancellations.
• Expenses related to loss, theft or delay of checked-in baggage. It also covers the cost when documents like passport of the policyholder are stolen or gets misplaced.
• In case of death, the insurer bears the cost to transfer the mortal remains to the home country.
• In case of permanent disability or accidental death, the insurer pays a lump sum amount.
• In case the policyholder is liable for any third party damage, the insurer will compensate on his/her behalf and will also provide legal assistance by paying the bail amount on arrest or detention.

2. What does the policy not cover?

Usually, there is an age limit on the travel insurance policy for students, i.e. from mid-teens to the late 30s. It is important to check the age bracket from the insurer. Also, you should be well-aware of what is not included in the travel insurance policy: 

• The insurance policy doesn’t cover health issues caused by pre-existing conditions.
• If it is discovered after inspection that the reason behind the travel was treatment rather than education, no money will be reimbursed.
• Any sickness or health issues caused due to consumption of intoxicant substances, involvement in war-related activity, breach of the law or participation in adventure sports will not be covered just like any self-inflicted injury won't be.
• If the member chooses to undergo cosmetic or obesity treatment, it stands uncovered.

3. What are the benefits of having a student travel insurance during this pandemic?

Buying a student travel insurance policy is a must, simply because affording medical treatment in a foreign country is no cakewalk. It can eat up all your savings.

Secondly, amid the ongoing pandemic, when we are more vulnerable to infections, we should take all the necessary precautions.

Not every student going to study in a foreign university is necessarily from an affluent family. He/she may have taken a student loan or is relying on scholarship money. To ensure that no financial crises interrupt their higher education, they should get the policy to protect them from any unpredictable hassles.

Conclusion

In the absence of travel insurance, the student’s time, energy, and money, all are wasted. Buy student travel insurance, which works as a shield against any possible financial losses. Also, it is equally important to get it renewed on time to stay covered.

Disclaimer:The above information is for illustrative purpose only. For more details, please refer to policy wordings and prospectus before concluding the sales.