Planning to study abroad? Remember student travel insurance

“Planning to study abroad? Remember student travel insurance”

by Adhil Shetty via “Money Control”

Overseas Student travel insurance offers to protect financial losses arising out of various unforeseen events. One should take a note of possible health issues and buy a suitable policy

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Studying abroad is a dream that most in the student community would confess to having, but few go on to actually realize it. Therefore, once you have earned the opportunity to study abroad, it makes sense focus on your goal rather than fritter your time away in mitigating unforeseen hurdles that one invariably confronts in life. This is where a student travel insurance policy comes in – it can help you be prepared for potential health risks, accidents and other unanticipated hazards.

Here is a detailed analysis of the features and exclusions of student insurances for interns or students who aspire to travel abroad for higher studies.

Ensuring Safety by the Aid of a Relatively Cheap Policy

Many people opine that their personal health insurance will automatically cover the medical issues for a traveler abroad, which, unfortunately, does not hold true in case of injury or illness. Even if the basic medical expenses are covered, there may be limitations on the policy, causing the policy holder to bear a major section of the expenses. On the other hand, with student travel insurance, the traveler can ensure full coverage for medical expenses at comparatively cheaper rates!

Insuring on the Basis of your Requirement

In the case of student exchange programs or internships, many students often decide to postpone their return; others tend to travel to nearby destinations before they return to their homeland. Under such circumstances, the trip-only insurance policies end on the scheduled date, which can be extended further in case of a long-term plan. Thus, whenever you decide to travel abroad, plan your trip carefully, analyzing the place of study and your immediate plans after the course. In case you have the option to gain some experience by volunteering or applying for an internship, it is ideally recommended to consider the long term student travel insurances that can be easily renewed online for an extended coverage.

Coverage for Homecoming

There are many insurers in the market who offer coverage for the short trips to home that student often make. This can be very useful in circumstances where you might need medical help when you have landed in your home country. This is another factor to be considered on while choosing your travel policy. For instance, if your academic institution does not allow you to leave the country during a term, you might not get a chance to pay a visit to your family. On the other hand, if you skip the coverage for brief homecoming, an unanticipated emergency or accident at your home can drain your pockets unless you plan for it beforehand.

Things to be considered Before Purchasing a Policy:

• How Far you are travelling: Medical care expenses are typically governed by the location of the patient as well as the patient’s condition. Consider the distance you are travelling before purchasing the insurance policy. Moreover, if you are travelling in a location with common health risks, you must pay special attention for that coverage in your policy.
• Determining the medical expenses available: In many countries, medical care facilities are provided by the academic institutions as a part of the sponsorship program. However, if your insurance policy includes this cost, it means that you do not need to worry about the bills even if you travel to other countries.
• Your own risk: Students traveling abroad for studies differ in personality and inclination for risk-taking. While some prefer to be hooked with projects and term papers, others might love exploring new places. Needless to say, almost every traveler faces a finite amount of risk, simply because they are away from their home country.

Exclusions in the Student Travel Insurance Policy

Much like all forms of insurance, student travel insurance too has its own set of limitations. Here are the most common exclusions in student travel insurance coverage:
1. Accidents or injuries caused by drinking or under the influence of drugs;
2. Any form of loss due to mental health problem or depression;
3. Returning to home country for availing medical facilities;
4. Accidents caused by personal risks or extreme behavior – for example, adventure sporting, diving or jumping off from heights.
5. Pre-existing medical condition, i.e. if you experience a serious illness or injury about 2-3 months prior to the trip, and in due course of the trip you need medical care for the same cause, the expenses will not be covered by the policy. . . . . .

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