Shield your right to education

The summer admissions to foreign universities are in full swing and students from India will soon be on a flight to their dream destinations to achieve their career goals. On an average, every year, nearly 50000 to 55000 students travel from India to countries like US, UK and Australia. We have also seen Germany and Ukraine becoming favourite destinations for specific subjects such as Science and Medicine in the recent years. These 55000 students not only comprise of pupils who travel for higher education after class 10^th but also of professionals above 40 years who travel for short term professional courses arranged by various universities.

Be it students or professionals, admission to a foreign university is not only enthralling but also nerve- wracking. While it provides a great future prospect to get your degree from a foreign country, it comes with its own share of uncertainties and hesitations. Student travel insurance provides a host of benefits including medical and non-medical insurance coverage for the tenure of your academic course with auto-renewal and extension facilities. The coverage is exhaustive and provides for the expenses that are incurred on medical treatment, passport loss, and study interruptions.

Insurance companies generally provide student travel insurance to those who are between 16 to 35 years of age. Here is a snapshot of various covers that students can avail:

The insurance plans take care of your medical expenses that may arise owing to accident and sickness while travelling. This medical assistance also includes emergency dental treatment, maternity benefits and also takes care of transfer to the nearest location (or country) where the treatment you need is available. From our database, we have observed that students have filed claims for medical OPD the most, which goes to show that this is one of the most important feature of the policy.

This cover keeps you at bay from the fright when you lose your documents in a foreign land. It shields you from this inconvenience and ensures that the reasonable expenses that may be incurred in procuring a duplicate or temporary passport overseas is covered.

In case of baggage loss, your insurer is liable to pay up to the specified maximum limit as per the policy wordings. The policy can also provide financial protection on unplanned personal purchases due to delay in arrival of the checked-in baggage in a foreign country.

In case of accidental death or permanent disablement of your sponsor, your tuition fee incurred for the remaining period of this education up to specified maximum limit will be reimbursed by the insurer.

The student travel policies are so comprehensive that they ensure the reimbursement of unutilized tuition fees if you are hospitalized for more than one consecutive month for Injuries/ ailments that are covered under the policy. This also includes the cases of terminal illness or transportation to the nearest location in case of medical emergency or in case of accidental death of your immediate family member.

Most of the times, insurers provides coverage against accidental death and permanent total disablement, irrespective of the country in which you are studying.

While many diverse aspects are covered under a student travel insurance policy, it is important to fully understand the exclusions of such policies.

It does not entail the medical expenses that may be incurred when the specific purpose of a journey is to receive medical treatment or advice for pre- existing conditions. Also, it does not shield you in cases that are related to the influence of alcoholism, abuse of drugs, HIV and AIDS.

Unexpected situations that pose as a hurdle in your study plans can make you spend your savings in a jiffy. Today educational institutions abroad usually provide such policies partly or ensure that you purchase one as a part of their admission/ academic course mandate.

There is minimum paperwork involved in this form of insurance. Today, insurance companies have adopted the digital platform and provide all the details of their products on respective websites. Applying for a student travel insurance policy may be as simple as running a few medical tests and submitting documents that are required by the insurer. Many companies offer customized policies as well to cater to your preferences and requirements.

It is important to analyze and compare the different policies that are offered by different insurance companies to select the right plan. It is recommended to buy a policy from a reputed insurer that has a respectable record of servicing and claim settlement as these are the vital features when you need to register a claim. You must also remember that an economical policy may not always be the paramount policy for you. Lastly, you should always read the policy document carefully to understand the terms of the policy before making the final decision.

With increasing disposable income and the scaling ambitions of the Indian youth, we have certainly seen an upsurge in the awareness and acceptance of student travel insurance.

You know all your efforts and hard work over the years have been worth it when you receive that admission letter from your chosen international university. And with that right insurance policy, you can keep all your worries at bay and make your travel and stay secured.

The writer is MD and CEO, Future Generali India Insurance Company