A quick guide to student travel insurance | Tech US News

November 1, 2022

Traveling and living in a foreign land can be an overwhelming and challenging experience, especially when you are a beginner. Studying abroad comes with a high cost of living expenses and unforeseen situations, and the ins and outs of a new environment can get the better of you. Therefore, buying a student travel insurance plan is the best option to safeguard yourself.

A student travel insurance policy is specifically designed for students traveling abroad for higher education. Thus, it provides coverage for expenses such as hospitalization due to a medical emergency resulting from an illness or accident, flight and baggage delays, study interruptions, etc., among others. Since the policy is designed for students, the premiums are much lower compared to regular travel or health insurance plans.

If you are studying in the United States or any Schengen country, it is mandatory to have a student travel insurance policy. In addition, many universities and colleges require you to have overseas student travel insurance in order to enroll on a course. Although some overseas universities and colleges offer student travel insurance, it may not be enough for international students. Also, most university insurance plans offer cover only during the course and not during the holidays. Therefore, it makes sense to purchase an independent student travel insurance plan with sufficient coverage.

What does a student travel insurance plan cover?

Although student travel insurance cover can vary from insurer to insurer, it usually covers the following expenses:

• Medical expenses arising from an illness or accident during your stay abroad

• An emergency medical evacuation to India

• In case of unfortunate death of the insured, the policy covers expenses incurred for transportation of mortal remains to India or cremation expenses abroad.

• Acute dental care for an injury

• Personal accident coverage that provides a flat benefit to the insured or nominee in the event of permanent disability or death

• It compensates for permanent disability or accidental death while traveling in common transport

• The cost of acquiring a new passport if the passport is lost or misplaced

• It compensates for the loss of checked baggage during travel on a common carrier

• Loss of belongings such as phone, laptop, bank debit and/or credit cards, licenses, etc., while traveling on a common carrier

• Compensation for flight delays or cancellations

• Reimbursement of the compassionate visit of the family member if the insured person is hospitalized for more than a week.

• Coverage of any arrest or detention by judicial authorities for a non-international crime and on bail while abroad

• Liquidation of the semester fees in the event that it is interrupted by a medical emergency

• Any emergency medical expenses: transportation and evacuation and repatriation of mortal remains

• Reimbursement of tuition fees in the event that the parent or guardian who sponsored the education dies in an accidental injury

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What are the exclusions in a student travel insurance plan?

Like coverage, student travel insurance plan exclusions vary between insurers. However, the following are common exclusions in most student travel insurance policies:

• While most student travel insurance plans do not offer cover for pre-existing illnesses and diseases, some insurance companies have started offering cover of up to 5% to 10% of the sum assured.

• Any undeclared pre-existing illness is not covered under the policy

• Loss or damage resulting from the theft or loss of luggage, passport and personal effects that are not reported to the local police authorities within 24 hours of the incident.

• Any self-inflicted injury or suicide attempt resulting from mental disorder, hypertension, depression, stress, venereal disease or under the influence of intoxication such as alcohol or drugs.

• Sexually transmitted diseases such as HIV/AIDS

• Expenses incurred for medical treatment if an insured person travels against the doctor’s advice

• If the insured travels expressly to receive medical treatment abroad

• Expenses caused by the disease, which is already treated

• Expenses derived from medical treatment carried out for a medical condition that has been declared terminal

• Any claim arising for security reasons and the law of the territory

• Any claim arising from acts of war, invasion, rebellion, terrorism, participation in military exercises, etc.

• Any claim arising from participation in adventure sports or games such as parasailing, paragliding, bungee jumping, skiing, diving, climbing etc.

• Any claim arising from an accident related to radiation, nuclear waste, aircraft pressure waves, etc.

• Holistic treatment in long-term institutions such as rehabilitation, convalescent centers, etc.

• Necessary treatment for a tropical/contagious disease for which the government has recommended vaccinations where the insured is traveling.

• Any claim made for an incident that occurred after the trip duration limit mentioned in the policy

What are the things to consider when buying a student travel insurance plan?

To benefit from insurance in times of need, it is essential to take out the right insurance policy. Here are some things to consider when choosing a student travel insurance policy for you or your child:

• Eligibility:

  
  

  Different countries and universities have different requirement criteria for student travel insurance. If your policy does not cover the mandatory requirements, you will need to repurchase another policy that provides the required coverage. Therefore, it is advisable to check with your university and the country you will be traveling to regarding the requirements for student travel insurance and only then purchase the policy.

• Coverage:

  
  

  Student travel insurance cover differs from insurer to insurer and others may not offer specific cover offered by one insurer. Therefore, if you are looking for specific coverage, it makes sense to review the policy details and check whether the insurer offers the specific coverage. It is advisable to read the policy inclusions and exclusions carefully so that you have an idea of ​​the policy coverage.

• premium:

  
  

  Student travel insurance premiums vary considerably from insurer to insurer. A higher premium is often considered to equal maximum coverage. However, this may not be true. Therefore, you should compare the different policies in terms of benefits and coverages offered along with the premium charged. You can easily compare different policies online on financial websites and choose the one that suits you and offers maximum coverage at an affordable price.

• Convenience and complaint resolution:

  
  

  In addition to suitability, coverage and premium, you should also consider the convenience of purchasing and renewing the policy, the claims settlement process, claims settlement ratio and customer service to ensure your insurance journey is smoother.

Conclude:

Purchasing a student travel insurance policy will protect you against financial loss arising from any adverse event while you are abroad pursuing higher education. Be sure to thoroughly compare different policies and buy the one that suits you best.

A warm greeting,
Ketki Jadhav

Content writer