Student Travel Insurance

Student Travel Insurance is a type of insurance designed for students studying abroad. It provides coverage against medical expenses, baggage-related risks, stay disruption and other travel-related risks that students may face during their trip.

A student travel insurance policy comes loaded with unique features such as policy extension and auto-renewal facilities. The coverage under student travel insurance plan not just aids students to pay their hospital and medical bills, but also takes care of visits from family in case of emergency hospitalization, medical evacuation, repatriation, bail bond etc.

So, if you’re travelling abroad for higher education, you must cover yourself with student travel insurance to eliminate the odds of the financial risks arising out of any unpredictable and unfortunate instances.

Why Do You Need Student Travel Insurance?

If you are studying out of India and living alone, there might be possibilities for things to go wrong and you would require support or a back-up to tackle the situation. For instance, an unfortunate event leading to emergency hospitalization can burn a hole in your pocket, as medical expenses are exorbitant in a foreign country. 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 covers all such eventualities and ensures that you don't have to bear the out-of-pocket expense. Other than these, student travel insurance comes in handy in covering those non-medical expenses as well such as:

• Expenses arising out of emergency hospitalization due to an accident or  illness
• 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 inclusion, kindly refer to the policy document

To those going abroad for studies, a student travel insurance policy is highly recommended to ensure that any eventuality, such as a medical emergency leading to hospitalization does not lead to a financial catastrophe.

Overseas Student Insurance – Salient Features:

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

• Age Restriction – Most student travel insurance plans offer coverage to people falling within the age group of 16 and 35 years who are travelling abroad to study in an international school/ university.
• Student-Specific Covers – All overseas student insurance plans come with certain covers that have been designed exclusively to protect you from any adversities that you are likely to face during your stay abroad. Some of these student-specific covers are study interruption, bail bond, sponsor protection, loss of laptop/ tablet, etc.
• Worldwide Coverage – No matter which part of the world you plan to study in, you will be protected under international student insurance. This is because a student travel insurance plan comes with worldwide coverage.
• Cashless Hospitalization – All overseas student insurance plans come with cashless hospitalization facility. This means that you will not be required to pay the hospital bill during discharge if you were admitted at one of the network hospitals of the insurance provider.
• Refund on Policy Cancellation – In case the university/ college abroad does not accept the student health insurance policy that you had purchased in India, then you can easily get it cancelled. All insurance companies come with student insurance policy cancellation option. In fact, most providers refund the insurance premium paid by the insured student on a pro-rata basis for the policy period that remained unused.
• Auto-Renewal – Most insurance companies come with auto-renewal option that can be used to automatically renew your student medical insurance policy for the next semester if your existing policy tenure expires at the end of your semester.
• Easy Extensions - Sometimes the overseas study course of an insured student is extended or his final semester exams are delayed. In such a situation, you can easily extend your student health insurance plan without any hassle to cover the entire duration of your stay abroad. Moreover, you can also use the auto-renewal feature to automatically renew.

Is it necessary to have Student Health Insurance?

Yes. In most countries, it is mandatory for overseas students to possess a valid student health insurance policy to study in their colleges or universities. In fact, many countries like the Schengen countries do not allow students to obtain a valid visa until they have bought an overseas student insurance policy.

The applicant student has the choice of either purchasing an international student insurance policy in India before travelling abroad or they can opt for the student medical insurance offered by their university abroad. People who buy their overseas student insurance in India will end up paying less as compared to those who will buy their student health insurance abroad as the premiums paid in Indian currency (INR) would be lower than the premium paid in US dollars (USD).

Here is a list of countries where student health insurance is a mandatory requirement by most colleges and universities:

Reasons to buy Student Travel Insurance

Student travel insurance is a protection that shields the insured student from any unpredictable adversities faced during his stay abroad. If a person is travelling overseas to study, he is always advised to get a valid student health insurance plan. To help you understand the importance of overseas student insurance, take a look at the following reasons:

• Stay Protected – Problems do not come knocking at the door. If you face an emergency during your stay abroad, then it could drain you emotionally as well as financially. But if you have a valid international student insurance policy, you do not have to worry about it as you will be covered from any unpredictable adversities such as accidents or medical illness.
• High Medical Costs – Healthcare costs are not the same all over the world. More so, the cost of healthcare is infamously expensive in several developed countries such as the United States of America and Europe. But if you have overseas student insurance, you can avail medical treatment without thinking about the skyrocketing healthcare costs as medical expenses are covered under such policies.
• Mandatory in Countries like the USA – In countries like the USA, it is mandatory for overseas students to possess a valid student health insurance policy. It is an important admission document for foreign students as you will not be allowed to study in the universities and colleges of such countries without a valid student travel insurance policy.
• Protects Student’s Personal Savings – Overseas students, who do not have international student insurance, end up paying from their personal savings if they face an emergency or financial loss. However, if you do have a valid student insurance policy, you can save up your personal funds as the insurer will cover all the monetary expenses incurred during an emergency.

Here’s What Student University Medical Plan Offer:

Most universities abroad offer medical insurance plans to overseas students who have secured an admission offer with them. Either it is mandatory for such students to purchase health insurance from the university or buy an overseas student travel insurance plan in their home country.

In case you are considering buying a student university medical plan, take a look at the coverage offered by most international universities:

• Medical & Dental Coverage – The plan will cover any expenses incurred on prescription or medical treatment that you may undertake during your study abroad. It will also cover any expenses incurred on your vision or dental treatment.
• Coverage While Travelling – A student university medical plan will continue to protect you from any unforeseen adversities even when you are travelling to some other place for vacations during the policy term.
• Round the Clock Medical Assistance – The plan will offer you 24x7 medical assistance and care irrespective of which part of the world you are vacationing. In fact, you can reach out to a doctor round the clock using your mobile phone, webcam-enabled laptop, tablet, etc.
• 24x7 Access to a Nurse – Most student university medical plan enables you to speak to a registered nurse round the clock for help. For example, the nurse can advise you for allergy relief or help you out during a fever.
• Mobile App Benefits – A lot of medical plans offered by overseas university comes with a mobile app that will provide you with benefits for staying healthy.

Student Travel Insurance Policy: Inclusions?

Student travel insurance policies offer the much-needed coverage that helps neutralize travel-related risks during a student's stay abroad while pursuing his higher education. The exact coverage varies from insurance provider per insurance provider.

Here are the basic elements of insurance coverage offered:

Emergency Medical Charges

It offers reimbursement to the insured person, for the incurred medical charges, in case of an unexpected illness or accident.

Dental Treatment Expenses

Student travel insurance provides dental treatment expense reimbursement, for acute pain or injury.

Permanent Disability

In case the insured is permanently disabled due to the accident, it pays pre-decided compensation to the insured's family.

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 repatriating the insured back to his/her country.

Body Repatriation

Student travel insurance 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 his/her country.

Loss of Checked-in Luggage

In case the insured's luggage, personal documents are checked into a common carrier, reimbursement is provided to him/her for the replacement of any lost or damaged articles.

Delay of Checked Luggage

Student travel insurance offers an amount, for buying toiletries and fresh clothes, to the insured because of delay in luggage.

Missed Departure or Missed Connection

The insured person is provided reimbursement for the incurred expenses because of missed departure, or missed connections by the airline under Student travel insurance.

Trip Delay

The insured person is provided reimbursement for the incurred expenses due to trip delay if it is delayed for more than 12 hours.

Loss of Passport

In case the insured person's passport is lost, Student travel insurance policy will reimburse the actual incurred expenses for making arrangements for a fresh or duplicate passport is provided.

Personal Liability

Student travel insurance pays for damage(s) that an insured is legally bound to pay because of a lawsuit for property damage(s) caused by him/her. Also, it offers benefits for medical expenditures that an insured is legally bound to pay, against a lawsuit for causing an accident that resulted in causing bodily injury to someone.

Study Interruption

In case there is any interruption in the study of the insured person due to an emergency, Student travel insurance compensates for the loss.

Sponsor Protection

In case of accidental death of the sponsor of an insured person, Student travel insurance pays for insured's tuition fees.

Daily Cash Allowance Benefit

Daily cash allowance is provided in case an insured person is hospitalized for more than a specific number of days as mentioned in the policy document.

Bail Bond

While travelling, it covers the bail amount for an insured person in case of arrest/detention by local police for a bailable offence.

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 completion of 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.

Childcare Benefit

Some insurance providers under student travel insurance provide hospital cash allowance for childcare.

Hijack Cash Benefit

It offers a distress allowance to the insured person as mentioned in the policy. This is in case your flight has been disrupted because of a hijack.

Fraudulent Charges for Payment Card Security

In the event of the insured's payment card being stolen or lost, reimbursement is provided for the unauthorized expenses that an insured person is responsible for. 

Emergency Accommodation Benefit

In case of a natural catastrophe, when an insured person is unable to stay at his/her original accommodation, the compensation is provided for additional expenses of emergency accommodation under Student travel insurance.

Student Travel Insurance: Exclusions

Every student travel insurance policy has certain situations that are out-of-the coverage list.

• Student Travel Insurance will not cover expenses incurred due to a pre-existing medical ailment unless the same condition is covered by the policy.
• Expenses incurred due to any of the following situation:
  • Suicide; injuries or illnesses due to self-infliction
  • Any kind of mental disorder Depression, stress, or anxiety
  • Any Venereal disease
  • Alcohol or drug abuse
  • HIV/AIDS
• Expenses incurred in a situation when you are
  • If the insured is travelling without the consent of his physician
  • Travelling to avail a specified medical treatment.
  • Suffering from a terminal disease.
• Theft, damage or loss of passport due to carelessness and negligence, or not reported to the local police authorities on time etc are not covered under Student travel insurance.
• 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 it is mentioned in the list of inclusions.
• Any situation arising due to war or nuclear threat in the country you are travelling to are not covered by Student travel insurance.

Facts You Should Know about Student Travel Insurance

Negligence towards matters and fact related to insurance can lead you to an inadequate insurance plan. Listed below are a few facts that you should know:

Eligibility

You are eligible to enter a student travel insurance plan at the age of 16. However, a person above 35 years of age cannot buy such a policy. Pursuing education should be the primary purpose of your travel. This policy is valid for both domestic or international travel.

Compulsory Clause

As having health insurance is a mandatory clause for students in foreign countries, almost every foreign universities offer health insurance. However, by opting for student travel insurance, the students can cover themselves for medical emergencies abroad. Some universities may also decline the admission application in case the student is not insured.

Cheaper Premiums

Premiums for these travel insurance plans are cheaper in case of policies bought from domestic insurance providers in India. The premiums are lesser by nearly 1/3rd of the premiums payable for the policies offered by  the universities abroad.

Substitutes

Student medical travel insurance is provided at very affordable rates by the insurance companies in India. It is advisable to choose a plan that can substitute the health covers provided by the university but can offer better coverage. Moreover, by comparing the plans, one can save a lot on premiums of student travel insurance.

Mandatory Risk Covers

Due to the urban lifestyle in the western countries, 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 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.

Easy Extensions

You can continuously stay covered for the entire term of your academic course by opting for an auto-renewal of policy. You can also simplify the same with the help of online renewal and advance the extension of policy.

Pregnancy Clause

Any expense related to pregnancy and childbirth is not covered. However, the expenses incurred due to any unforeseen emergency, save the insured person's/child's life in case of acute complications are covered. Coverage would be provided only if the insured person has not completed 38 years of age and 30 weeks of pregnancy.

Study Interruption Cover

If you have opted for study interruption cover and 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 implies, if your sponsor or an immediate family member expires, leading to discontinuation of your studies. 

Claim Process of Student Travel Insurance

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

• Immediately get in touch with your insurance provider to inform about the loss or arising of a claim. You can register it by calling on their s helpline number and provide them the claim details. In case you need any assistance, feel free to raise your doubts.
• In case of an abrupt mishap or sudden sickness; where it's not possible to notify your insurance provider well in advance before seeking medical intervention, get in touch with your insurance provider as soon as possible.If required by your insurance provider, you need to undergo a medical examination. Don't worry about the costs since it will be covered by your insurance provider.

Student Travel Insurance Cancellation Procedure

Before embarking on your journey, you can cancel your trip anytime, but you have to justify the reason. Here is the cancellation process for a student travel insurance plan in India.

• Give a written notice to your insurance provider 15 days in advance, mentioning your policy number, attaching the scanned copy of your passport and stating the reason for the cancellation. You can also cancel the plan within 7 days after the date when you were supposed to travel or the expiry date of your plan in case you haven't undertaken that trip.
• The insurance provider will verify the original passport to make sure that you didn't undertake that journey. Wait for tour insurance provider to approve your cancellation.

Premium Refund upon Early Return

There are some insurance providers, who offer a premium refund upon early return. If you end your trip before the expiry of your insurance plan and you haven't filed any claims, you can get in touch with your insurance company to get a premium refund. In case you get a refund, it will come with a few deductions.

Extension of Student Travel Insurance

There can be situations that may force you to extend your stay abroad. For instance, if your exams get postponed and are rescheduled post the expiry of your policy. Or if you get hospitalized for an illness/ accidental injury that extends your stay beyond your original schedule. In all of these situations, a need to extend your student travel insurance will arise. Luckily, all travel insurance policies allow the insured to extend their student travel insurance policies.

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 the additional amount of premium that you would have to pay in order to extend your student travel insurance policy. The period of extension, your age, type of insurance plans, location of your university, etc. are some of the factors that influence the additional premium that you’ll have to pay.

Besides, your student policy will be extended if you meet the following conditions:

• 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 he does not 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 a period of 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 the policies of your insurance company. You should check with your insurance provider to find out the exact number of times you can extend your student travel insurance policy.

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

Moreover, you can extend your student travel 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

Saving-Up on Student Travel Insurance Premiums

If you are looking forward to save some money on your insurance premium, here are a few things to be covered when it comes to lowering down Student Overseas Travel Insurance premiums.

• Buy Your Travel Plan Online - Purchasing a student travel insurance plan online is super easy and convenient as compared to offline modes. It helps you to save your money and fetch amazing discounts and offers.
• Analyze the Involved Risks - It is very important to assess the safety and health risks associated with the destination you'll travel to. If it's less risky, then there is no need for you to buy a higher health cover. You can go for the basic coverage based on the duration of your trip in the foreign country.
• Buy an Insurance Plan Soon After You Book Your Trip - The closer you are to the trip, the higher the insurance premium you'll be offered. When you've already secured your seat in a college, don't delay purchasing travel insurance for students. This way, you will get the lowest premiums and the maximum insurance coverage,
• Opt For The Right Deductible - The deductible is a pre-decided amount that an insured person has to pay at the time of filing a claim and the remaining amount is covered by the insurance provider. The deductible affects an insurance premium; ensure that you opt for the deductible basis on what fulfils your travel insurance expectations.

What Does PolicyBazaar Do For You?

Buying student travel insurance from PolicyBazaar can offer following benefits:

• Make an ideal choice by comparing various insurance quotes
• Choose the plan according to your specific requirement
• Complete transparency of information
• Compare and analyze 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 those travel-related eventualities, student travel insurance provides the 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 a comprehensive one. These riders include provision for a bail bond, reimbursement of tuition fee under sponsor protection, compensation on loss of passport and a lot more.