It's no easy feat to get accepted in to a foreign university. Nor is the preparation that it takes to leave the comfort of your home. Often overlooked between the application period and expense calculation is the importance of picking the best overseas student travel health insurance plan. It not only provides a safety net in an alien country but also saves you from any undesirable expenses.
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The admission requirements vary with many factors. Depending on the country and college you're going to study in, your travel health insurance policy requirements will also change.
While universities in the US, Canada, and other Schengen countries require a proper insurance plan, it is optional in many European and Asian universities. Several universities even require a certain sum insured for their mandatory insurance plans for students, especially in the case of Germany. Even though many public universities around the world provide some assistance with medical expenses or emergencies to their students, having a student travel health insurance plan will provide you with additional covers including personal accident, third-party personal liability, and loss of any important documents.
Even though it is your choice to buy overseas medical insurance if it is not required by your university, it's highly recommended to have one while studying abroad. The costs of diagnostic tests, medicines, and medical treatment in developed countries are much more expensive than in India. The cost in case of hospitalization emergencies can easily be 3-5 times what it costs here.
Having a good overseas travel health insurance plan is especially beneficial for young students who are going far away from the security of their home country and support system. The plan provides assistance ranging from flight-related issues to medical emergencies, including some special services made only for students. These vary with the general insurance company you’re opting for, as well as the plan variant you decide on. Other than flight and medical contingencies they cover many aspects. Some of these benefits are briefly discussed below:
Students can buy the insurance plan of their choice either through the university, a foreign insurance provider, or back home from a domestic insurance provider. It’s interesting to note that the premium cost under domestic insurers is around one-third of the amount charged by the universities or insurers abroad. Now that you've discussed the importance and benefits of an overseas student health plan, read on to know how to compare and select the best insurance plan for your studies abroad:
While different universities have vastly varying requirements, such plans are often the best of both worlds- they combine the features of a medical plan as well as an overseas travel insurance plan. For any young student traveling all the way to another country, it is a huge help to have a reliable overseas travel health insurance plan that will assist them with any medical or financial emergencies.