Studying abroad is an adventure that most of us wish to experience, but it costs a lot of money. While you may be able to afford the tuition fee, it doesn’t end there. With international travel come unforeseen risks. But should these risks stop you from making your dream come true? No, definitely not. However, you can protect yourself and your finances by investing in travel insurance for students.
Travel insurance for students is one of the latest products offered by insurance companies and providers. These plans offer medical and non-medical emergencies coverage to students who wish to travel and study in foreign countries. By purchasing a student travel insurance policy, you can make your journey and stay a pleasant and worry-free one.
However, you should know a few things about the best student travel insurance plans – that this detailed guide will highlight.
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What All Does a Student Travel Insurance Policy Cover?
Before we dive into travel insurance features for students, it is essential to remember that these inclusions vary according to the insurer you choose. A basic student travel plan includes the following:
- Emergency hospitalization plus OPD & IPD charges
- Cover for pre-existing medical conditions, including critical illnesses
- Accidental death caused due to traveling in public transport
- Medical evacuation to your home country
- Body repatriation, if required
- Continued medical treatment in the home country
- Trip cancellation or delay
- Indemnification of tuition fees
- Loss of passport, documents, or checked-in baggage
- Bail bond insurance
- Personal accident and liability
- Airplane ticket up-gradation
How to Check if You Are Eligible for Student Travel Insurance?
Even though you might have your heart set on a particular student travel insurance plan, it is crucial to check its eligibility criteria. The eligibility criteria for most policies are as follows:
- Minimum age requirement of 12-16 years depending on the plan
- Maximum age entry is typically 35-40 years
- Renewability extends up to the maximum age
- The policy buyer should have been granted admission to a registered educational institution.
- Travel insurance for students’ premiums is calculated based on age, destination, trip length, and sum insured.
- Tenure generally extends up to 24 months but can be flexibly adjusted.
What’s Covered Under Travel Insurance for Students?
While the eligibility criteria for student travel insurance plans are not too rigid and offer comprehensive coverage, there are some exclusions one should be aware of. The exclusions are:
- Cosmetic & beauty procedures
- Obesity treatment
- Sickness caused due to breach of law
- Any self-inflicted injury
- Medical treatment arising out of substance misuse or abuse
- Venereal diseases such as HIV/AIDS
- Nuclear threat or war
- Claims related to hazardous activities
Travel Insurance for Students: An Investment You Should Make
According to UNESCO statistics, the total number of students who went abroad for higher education in 2018 stood at 5 million. Moreover, 750,000 out of the total were from India alone, which is quite a high figure. Furthermore, 80 percent of these students end up settling in foreign countries as immigrants. The countries most preferred by Indian pupils are the United States of America, Canada, and the United Kingdom.
As a result of this growing number, most international universities have made it compulsory for students to purchase travel insurance. So, if you plan to move abroad and study at the university of your dreams, student travel insurance plans are an investment you should make. It is also vital to trust reliable insurance companies like Care Health Insurancegeared towards making students’ journey towards their goal easy.
However, while buying travel insurance for students, make sure you choose the plan providing the best benefits. Also, don’t forget to ask the insurance company for contact information of the service providers available in the country you visit. Lastly, keep your insurance details stored or noted down on your smartphone or somewhere accessible.