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What to Choose Between Travel & University Health Insurance?

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Studying abroad is a dream for millions of students. It paves the way for building successful careers as it brings numerous life-changing decisions. However, living far away from your family members can be challenging. Moreover, if you're travelling for the first time, it can be hectic.

Numerous students travelling abroad alone for study purposes face various setbacks, such as loss of documents, baggage loss, medical emergencies, and other unforeseen circumstances. Therefore, it is often advisable to get overseas travel insurance from India to stay protected while going abroad for studies.

Why Does International Travel Insurance for Students Cover?

The benefits of international travel insurance for students are unmatched. It is highly crucial to err on the safer side. Some of the common scenarios under which travel insurance can prove to be helpful are as follows:

• Medical Expenses: The medical travel insurance for students is designed to cover all unforeseen medical expenses. The insurance will cover OPD treatment, room rent, hospitalisation and road ambulance costs. It will also reimburse the amount for medical repatriation, medical evacuation and repatriation of mortal remains.

• Baggage loss: Moving abroad for studies requires thorough preparation. Therefore, it is pretty common to have numerous bags. But what if you accidentally lose your checked-in baggage? That can be very stressful. With your insurance, you can get compensation for the loss.

• Personal liability: If you accidentally damage any third party abroad, you may think that you're bound to pay a heavy fine. The good news is that your policy will protect you against any unforeseen third-party liability damages.

• Medical evacuation: If there is any medical emergency and you need to be evacuated from abroad, know that the policy will provide coverage. Whether it is by air or surface, the coverage will apply to all modes of transportation.

When you're abroad, it is also quite a stressful situation for your parents. Therefore, having travel insurance also guarantees that you're in a safe place. After all, if you need any emergency help, your insurer will try to provide you with all in regards the coverage and inclusions.

University Health Insurance for F1 Students

Students visiting the US on F1 visas will also be required to apply for health insurance. These students typically do not receive government health insurance enrollment benefits. On the other hand, registering with health insurance makes it easier for students to register for classes.

International students must be very mindful of following the university's health insurance requirements, especially those applicable to F1 visas. Some universities provide students with the option to either enrol in the university's plan or get one of their own.

These university health insurance policies for students on F1 visas are explicitly designed to meet their requirements. It comes with excellent, comprehensive coverage. However, the major drawback of these policies is that they're pretty expensive. If you enrol in such plans with your university, the amount will be calculated a part of your school fees.

Several universities have made it mandatory for students to enrol in a health insurance policy. Therefore, the moment they sign up, they'll be automatically enrolled in a student health insurance plan. However, this can be waived if you have sufficient coverage with your medical travel insurance.

Should Students Purchase Travel Insurance?

Well, in most cases, yes. Travel insurance is mandatory for students, primarily to safeguard themselves. When you're going to study in any school or institute, the college/university authorities will verify the documents.

In Schengen nations, students aren't given their visa unless they enrol in an international student travel insurance policy. Students can consider purchasing overseas travel insurance before travelling. Purchasing from India offers students flexibility and less hassle regarding paperwork.

Students also have the option of purchasing travel insurance through their university. However, it is recommended to buy travel insurance locally, as it is more pocket-friendly. Moreover, these policies also come with extensive coverage, which can be used globally.

Why is Travel Insurance Mandatory for Students?

As a student, you'll be visiting abroad for quite a significant time. Therefore, any mishap can occur during this time, which is why you must stay prepared to the best of your ability. Having travel insurance is your safety net that can help you in the long run.

Some of the key reasons students with F1 visas must buy travel insurance are as follows:

• Safeguards Against Medical Emergencies: Medical treatment abroad is quite expensive. As a student, it will be challenging to afford medical treatment abroad. With no government-approved healthcare policy available, you may have to pay all the medical expenses out of your pocket. This can result in a significant financial drain. Therefore, buying travel insurance ensures that you don't have to worry about these unwanted financial strains as a student.

• Covers Your Travel Risk: When you're travelling alone for the first time, some mistakes are likely to happen. You may lose your bags, there may be flight delays, or any unexpected medical emergency may arise. In situations like these, it is very common to start panicking. The travel insurance policy will provide proper financial compensation, saving you from distress.

• Financial Assistance: In a foreign land, if you're caught up in trouble, that can be one of the worst situations. Accidents, problems in studies and legal issues can arise, which may create difficulty in your plan. The good news is that with the right international travel insurance policy, you can get financial assistance and avoid these situations with proper coverage.

• It is a Mandatory Requirement: What if it is mandatory to have travel insurance to obtain an F1 visa from your university? The top schools in the US, such as the University of Texas at Dallas, Columbia University, and Northwestern University, require all international students to have travel insurance. This is your safety net and your gateway to obtaining the visa. No insurance means no visa, which eventually would hamper your entire plan of studying abroad.

• Safeguards Study Interruptions: After spending lakhs of money to study abroad, you wouldn't want any disruptions in your studies, right? Therefore, the best course of action would be to obtain travel insurance. If you're caught up due to a family crisis, health issues or any other emergency, your insurance coverage will reimburse the tuition fees. Thus, you don't have to worry about your study getting disrupted, as it is already covered.

You can learn more about the perks of travel insurance for students in our blog Why students should always get travel medical insurance before studying abroad. With a clear idea, making the choice will be easier for you.

Travel Insurance vs University Health Insurance: What to Choose?

University health insurance policies are costly. Although they are included in your school fees, you will still have to pay a considerable amount. Moreover, your university health insurance only provides coverage for medical emergencies and not other components. Therefore, if you're caught in any other situation like baggage loss or trip delay, you will have to pay the expenses out of your pocket.

Now, with travel insurance, you get comprehensive coverage for medical and other emergencies. The premiums for these policies are also very affordable, making them financially beneficial. Comprehensive travel insurance for students offers peace of mind, as it also covers a range of travel-related risks. Moreover, regular travel insurance comes with global coverage, proving to be efficient in the long run.

Conclusion

Depending on your travel style, you may choose between travel insurance or university health insurance. If your university provides you with the flexibility to enrol on one to get the visa, try to choose medical travel insurance. This type of insurance offers higher coverage for lower premiums and a wide range of other benefits which the university may not provide. Therefore, you should compare all the options and make a choice accordingly.

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

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