Student Travel Insurance

What is Student Travel Insurance?

Student travel insurance is a safety net for anyone going abroad for educational purposes. With sky-high rates and expensive medical care abroad, travel health insurance for students has a lot of unique features to save you from any sort of medical expenses when you're alone in a foreign country.

Most student travel insurance plans also include features like policy extension and auto-renewal facilities, making it easier for the insured student.

So, if you're travelling abroad, you must cover yourself with the right insurance for indian students studying abroad to eliminate the odds of the financial risks arising out of any unpredictable and unfortunate instances.

Facts about Student Travel Insurance

Key Features of Student Travel Insurance Policy

Overseas student travel insurance comes with certain features that differentiate it from other types of travel insurance. Take a look at some of the most common features of international student travel insurance offered by insurance providers in India:

1. Worldwide Coverage

   No matter which part of the world you plan to study in, you will be protected under international student travel insurance for all sorts of medical and non medical expenses covered under your policy.

2. Round the Clock Assistance

   If something goes wrong while you're studying abroad, several insurers will assist you during various difficulties as per the scope of the policy round the clock.

3. Covers for Accidents and Illnesses

   Student travel insurance will protect you from high medical costs arising from an accident or an urgent medical evacuation, the student travel insurance plan will cover all the costs.

4. Refund on Policy Cancellation

   In case the university/ college abroad does not accept your student travel insurance policy purchased from India, then you can easily get it cancelled. All insurance companies come with a student travel insurance policy cancellation option.

5. Baggage Loss or Delay

   In case of theft or loss of baggage, your overseas student travel insurance plan will help you with the costs of all necessary amenities.

6. Hijack Distress Allowance

   As low as the chances may be, if you are ever a victim of hijacking, your policy will offer you some distress allowance to help you cope with the trauma that you may experience.

7. Personal Liability

   If you happen to be involved in an accident that damages a person's property or the person themselves, your policy will help you take care of the necessary expenses.

8. Auto-Renewal

   Most insurance companies come with an auto-renewal option that can be used to renew your student medical insurance policy for the next semester if your existing policy tenure expires at the end of your semester.

9. Compassionate Visits

   If hospitalized for over seven days, your insurance plan will provide the cost of travel and stay of your immediate family member so that they can be with you

10. Easy Extensions

    In case of delays due to late exams, you can easily extend your student health insurance plan to cover the entire duration of your stay abroad. Moreover, you can also use the auto-renewal feature to automatically renew the policy.

11. Study Interruption Cover

    Perhaps the most important feature of student travel health insurance plans is in case you are hospitalized for a consecutive month or more due to illness, injury, or medical repatriation, then you will get a reimbursement of the tuition fee that has been paid for that period. Also, the same applies if your sponsor or an immediate family member expires, leading to the discontinuation of your studies

Why Do I Need a Student Travel Insurance Policy?

Studying and living alone out of your home country always involves some risks that could cost a fortune and disrupt your entire budget. It could be a sudden medical expense, loss of your passport or theft of your belongings. Since life is unpredictable and there is always a possibility of things going wrong, it is always better to have travel insurance for students.

Most universities abroad strongly suggest students get overseas medical insurance once they have secured an admission offer. You must either buy a travel health insurance from the university or buy an overseas student insurance plan from your home country.

Student travel insurance covers multiple emergencies and ensures that you do not have to bear the expenses. Overseas medical insurance for students also comes in handy in covering various non-medical expenses as well, such as:

• Unfortunate events like loss of checked-in baggage, etc.
• Bail bonds and tuition fee
• Delay in take-off or cancellation of flight
• Loss of passport
• Compassionate visit
• Bail bond cover

*For the complete list of inclusions, you must check the policy wordings

Students living outside India may also have visitors from their families during an emergency medical condition, which requires financial backup as well.

Student Travel Insurance Policy Inclusions

A medical insurance for Indian students studying abroad offers wide coverage to neutralise various risks during the insured's study abroad. However, the exact coverage benefits vary with the insurance provider. Here are the basic elements of insurance coverage offered:

• Emergency Medical Charges: It offers reimbursement to the insured person for any medical charges incurred due to an unexpected illness or accident during the course.
• Dental Treatment Expenses: Some student travel health insurance plans reimburse dental treatment expenses as per their policy terms.
• Permanent Disability: If the insured student is permanently disabled due to an accident, it pays the insured's family pre-decided compensation.
• Accidental Death Benefit: In the event of accidental death, it pays pre-decided compensation to the insured's family.
• Medical Evacuation: It pays for the actual expenses or the pre-decided amount insured, whichever is lesser when evacuating the insured back to India.
• Body Repatriation: The policy pays for the actual expenses or the pre-decided amount insured, whichever is lesser in case of repatriating the mortal remains of the insured person back to their country.
• Missed Departure or Missed Connection: The insured student is reimbursed for the incurred expenses because of missed departure or connections by the airline under a student travel insurance plan.
• Trip Delay: The insured is provided reimbursement for the incurred expenses due to a trip delay of over12 hours.
• Loss of Passport: If the insured's passport is lost, overseas student travel insurance will reimburse the expenses incurred for making arrangements for a fresh or duplicate passport.
• Personal Liability: Student travel insurance pays for damage(s) that an insured is legally bound to pay because of a lawsuit for accidental bodily damage or property damage(s) caused by them to a third party.
• Study Interruption: If the insured person can't continue their education abroad due to an emergency, the student travel insurance policy will compensate for the loss.
• Sponsor Protection: In case of accidental death of the sponsor of an insured person, Student travel insurance pays for the insured's tuition fees.
• Compassionate Visit: In case there is a need for a compassionate visit by an immediate family member of the insured, Student travel insurance covers that compassionate visit.
• Treatment for Expecting Mothers: After completing the waiting period of 10 months, Student travel insurance covers pregnancy-related in-patient medical expenses. Again depending on the type of policy that covers the particular situation.
• Emergency Accommodation Benefit: In case of a natural catastrophe, when an insured person cannot stay at their original accommodation, compensation is provided for additional emergency accommodation expenses under Student travel insurance.

Student Travel Insurance Exclusions

Even student travel insurance policies have certain situations that are out-of-the coverage list. You should review them before finalising your policy purchase:

• Student Travel Insurance will not cover expenses incurred due to a pre-existing medical ailment unless the policy covers the same condition.
• Expenses incurred due to Suicide; injuries or illnesses due to self-infliction, or any kind of mental disorder depression, stress, or anxiety, alcohol, drug abuse, HIV/AIDS, etc
• The insurer is also not liable to pay for any expenses arising if the insured is travelling without the consent of their physician, or going to get a medical treatment in the country.
• Theft, damage or loss of passport due to negligence, or failure to report it to the local police authorities on time etc. is not covered under student travel insurance plans.
• Partial damage or loss of checked-in baggage (only complete loss or damage is covered). Moreover, precious items inside the bag are also not covered by Student Travel Insurance unless mentioned in the list of inclusions.
• Any situation arising due to war or nuclear threat in the country you are travelling to is not covered by student travel insurance

When is Student Travel Insurance Required?

In most countries, an overseas student travel insurance is mandatory to study at several colleges or universities. Many countries, like the Schengen nations, do not allow students to obtain a valid visa until they have bought an international student health insurance policy that meets all the necessary guidelines.

The student can either purchase medical insurance for international students in India before travelling abroad, or they can opt for the student medical insurance offered by their university abroad. It is recommended to purchase a domestic student holiday insurance plan as they're available at a cheaper price.

Tips to Save on Student Travel Insurance Premiums

If you are a student and are looking for ways to save some money on your medical insurance for Indian students studying abroad, then these tips will come handy for you:

• Buy Student Travel Insurance Online - Purchasing student travel insurance online is easier and more convenient than offline modes. After thorough comparison, it helps you save money and fetch amazing offers on the premium.
• Analyze the Involved Risks - Be sure to assess the safety and health risks associated with the study destination you'll travel to. If it's less risky, you do not need to buy a higher health cover.
• Buy an Insurance Plan Soon After You Book Your Trip - The closer you are to the trip, the higher your insurance premium will be offered. Once your admission is confirmed, purchase your student travel insurance online as soon as possible. This way, you will get the lowest premiums and maximum insurance coverage.
• Opt For The Right Deductible - The deductible is a pre-decided amount you must pay when filing a claim before your insurer covers the remaining amount. Deductibles affect an insurance premium; ensure that you opt for the deductible based on what fulfils your student travel insurance expectations.

Extension of Student Travel Insurance Policy

There can be situations that may force you to extend your stay abroad. For example, if your exams get postponed and are rescheduled after your student travel insurance policy expires, or if you get hospitalized for an illness or injury that extends your stay beyond your original schedule.

A need to extend your policy will arise in all of these situations. Luckily, all insurance providers allow you to extend student travel insurance online.

If your overseas stay gets extended due to reasons beyond your control, then your travel insurer will extend your policy, provided you have paid the additional premium amount applicable.

Several factors determine this additional premium amount, namely the period of extension, age, type of insurance plan, location of your university, etc.

Besides, your student policy will be extended depending upon your insurer’s terms and conditions. However, you must meet the following conditions to extend your international student health insurance policy:

• The student travel insurance policy hasn't expired already
• Sum insured amount remains the same even after policy extension
• No medical claims have been filed during the policy tenure
• Insured must declare that they don't have any pre-existing health conditions
• The additional premium should be paid before the policy extension period comes into effect
• The total policy period, including the original policy period and extended period, does not exceed two years

Most insurance companies allow insured students to extend the policy only once. However, the exact number of times you can extend your travel insurance depends on your insurance company's policies.

You can extend your overseas study insurance policy only if the ongoing claim is related to one of the following covers:

• Loss of passport
• Dental treatment
• Emergency financial assistance
• Loss/ delay of check-in baggage
• Trip delay
• Missed connection
• Trip cancellation & interruption
• Hijack distress allowance

Make sure to inform your insurance company or the assistance provider as soon as possible so that the policy can be extended on time. Also, remember that the extension of your travel insurance policy depends on the sole discretion of the insurance company.

How to Claim a Student Travel Insurance?

During your stay in a foreign land, you never know when you need to file a claim. Here is the claim process for student travel insurance:

• Immediately contact your insurance provider or Policybazaar.com to inform them about the loss arising from a claim. You can do so by calling their helpline number or over email.
• In case of an abrupt mishap or sudden sickness where it's not possible to notify your insurer well in advance, get in touch with your insurance provider as soon as possible.
• If required by your insurance provider, you need to undergo a medical examination. In most policies, this will be covered by your insurance provider.

Nowadays, the claim process can be easily filed for most student travel insurance online or through special mobile applications.

Things to Remember Before Buying Student Travel Insurance

A medical insurance for international students is quite important and negligence towards matters and facts related to insurance can cause confusion and disappointment later. Listed below are a few facts that you should know:

• Eligibility: You are eligible to buy a student travel insurance plan at the age determined by your policy and if you fulfil the mandatory student visa requirement.
• Compulsory Clause: As having student health insurance is mandatory in many foreign universities, it is important to buy it even for the visa process.. Some universities may also decline the admission application if the student is uninsured.
• Cheaper Premiums: Premiums for a student travel insurance plan is cheaper in comparison to the price of policies by foreign insurers.
• Mandatory Risk Covers: Many universities have made it compulsory for students to have coverage against specific risks like drug dependency, mental and nervous disorders, alcoholism, and other expenses related to intercollegiate sports injuries, pregnancy, mammography, cancer screening, and childcare benefits.
• Waiver of Premiums: If you, as a student, have availed of a health insurance plan from an insurer in India, then you can claim a refund from the foreign university as the premium is already included in the fees paid to the university.
• Pregnancy Clause: Any expense related to pregnancy and childbirth is not usually covered in overseas medical insurance for students. However, you can check if the expenses incurred due to any unforeseen emergency save the insured person's/child's life in case of acute complications are covered or purchase an add-on if offered.
• Premium Refund upon Early Return: If you end your trip before the expiry of your insurance plan and haven't filed any claims, you can contact your insurance company to get a premium refund. If you get a refund, it will come with a few deductions.

Top Study Destinations

Going to a foreign land to study is a dream for most people. For many Indians, this can easily become a reality thanks to affordable resources and insurance options available to them. Here's a list of the top study destinations if you're a student planning to go abroad for your education:

1. Canada

   Canada offers a unique study experience and has been one of the most popular destinations for Indian students. Compared to other countries, the average tuition fee and living cost here is much less without compromising the quality of education. Most colleges here invite applications for fall, winter, and summer intake which is why Canada is the best study destination.

2. USA

   The ultimate American Dream, to this day, getting into a distinguished US university is considered a feat not easily achieved. Over a million students studying here are foreigners, and for good reason. The country has some of the top-ranking universities and Ivy League institutions making it one of the most , with around 60% of students getting a good job after finishing their studies here. Moreover, with a health insurance for f1 students visa, you will be covered against medical emergencies also in the USA.

3. Australia

   With one of the highest student visa acceptance rates, around 90% to 95%, Australia has emerged as a competitor of the top study destinations, especially for Indians. Its universities offer numerous scholarships and affordable education opportunities to foreign students.

4. United Kingdom

   The seat of some of the world's oldest and most reputed universities, the UK continues to be the top choice in Europe. However, some may be deterred from studying here due to expenses. Nonetheless, home to Oxford and Cambridge Universities, the UK remains to be one of the best countries to pursue higher education in.

5. Germany

   Rapidly becoming a favourite for its affordability, Germany offers free education through its public universities to all international students willing to study here. With some mandatory conditions like German proficiency and valid travel health insurance for Germany, the country is an all-rounder for offering the best faculty in most fields.

These countries consist of highly-ranked universities and professors, which sets them apart from the rest. If you have made it into one of those or are planning to apply for admission, money and other expenses should not be the reason stopping you from fulfilling your dreams. Also, not having any relatives in that country should not keep you from coming here. With sturdy overseas medical insurance for students, you will never be alone during difficulties or sudden financial emergencies.

Why Choose Policybazaar for Your Student Travel Insurance?

Other than easy comparison, buying travel insurance for students studying abroad online from Policybazaar Insurance Brokers Private Limited has the following benefits:

• Make an ideal choice by comparing various student travel insurance quotes
• Choose the insurance plan from multiple insurers according to your specific requirements
• Complete transparency of information
• Compare and analyse the features and USPs of various plans simultaneously
• Buy the most efficient product in the least amount of time
• Quick and convenient insurance shopping
• Safety, mental peace, guaranteed end-to-end assistance

Focused on providing students with financial coverage against travel-related eventualities, overseas student travel insurance provides much-needed assistance in the hour of need.

You can also opt for other benefits with your travel insurance policy to fortify the cover and make your policy comprehensive. These riders include provision for a bail bond, reimbursement of tuition fee under sponsor protection, compensation on loss of passport and much more. For more details, you can write to us at care@policybazaar.com.