Student Travel Insurance – Know The Basics

The high cost of medical expenses in developed nations makes it imperative for students travelling abroad for education and exploration alike to buy student travel insurance. As compared to regular travel insurance, student travel insurance policy is far more comprehensive as it continues to protect you during your travel abroad.
Following is an inclusive list of the main features of student travel insurance:
  • Cover for death
  • Compensation for loss of passport and baggage.
  • Cover for accident disability.
  • Payment of tuition fees in case of interruption in studies due to hospitalization of the insured.
Buying a student travel insurance is very simple, especially, in the technologically advanced world. Student travel insurance can either be purchased before moving out of India or from an insurer in the host country. However, choosing a policy from an Indian insurer over an overseas policy can generate significant savings in terms of cost of premium. However other factors such as network hospitals, claim process, cashless facility etc. is also to be considered.

Age Limit: 16-35 years is the standard age limit to be able to buy travel insurance. However maximum age can be up to 50 years.

Procedure: The claim procedure varies from insurer to insurer. Initially you have to intimate the claim at the insurer’s helpline or an overseas emergency medical assistance service. Insurer’s usually undertake to settle the claim directly with the hospital only if the illness is covered under the plan and is not a pre-existing condition. In case of reimbursement, a claim form has to be filled along with supporting documents as prescribed by the insurer.

Extension: The policy can be extended upon expiry of the cover on payment of an additional premium.

A word of caution: Before signing on the dotted line, it is always advisable to check the coverage points, the scope of insurance as well as the costs to be borne in case of any issues. Conferring with online aggregators will further ensure the implications of buying a student travel insurance.

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