A travel insurance is the one that saves you from any unpredictable troubles during a trip. If you are a student going abroad for higher studies, you should be aware that your dream comes with its share of perils. The most common being health-related emergencies.
Any medical emergency abroad will wipe out your savings unless you are protected by a valid insurance. Not just the medical bills, an accurate travel insurance plan can protect you from individual other incidents where you would be required to spend from your pockets. The Basics of Student Travel Insurance India Apart from medical bills, valid travel insurance for Indian students abroad also covers: ● Emergency hospitalization expenses ● Tuition fee and bail bonds ● Travel related mishaps like baggage loss, delay in flight or flight cancellation ● Loss of documents like passport To save your student life from specific uncertainties, it is advisable to buy a student travel insurance policy. What is the necessity for a travel insurance plan? You may never know what could go wrong during a trip. If you are a student who is going to spend a considerable number of years in a foreign soil, the risks are aplenty. Here are a few reasons why you should buy a student travel insurance policy. A travel insurance plan for students protects a savior: ● When you sustain a sudden allergic reaction ● When you sustain an injury while playing ● In case of an accident and if you sustain significant wounds ● Sudden emergency in your hometown that would require a trip ● In case of theft or loss of valuables such as wallet, passport, ID card, money, etc The best student travel insurance policies cover all of the clauses as mentioned above. What Kind of Coverage to Look for in a Travel Insurance Plan? When you buy a student travel insurance policy, there are certain aspects of coverage you have to look out for. It is always wise to compare travel insurance plans before buying. The types of coverage that are most useful for students are: 1. Medical coverage that also covers dental expenses Most travel insurance plans include medical bills. Pick the ones that are inclusive of dental treatments. If you have a medical condition, look for one that covers a pre-existing disease or disorder. Some plans include coverage for adventure activities. If you are an adventure seeker, look for that in your coverage. 2. Coverage for emergency Trip Interruption This aspect covers your to and fro travel costs for emergency trips back home (i.e.) an interruption in your travel. It is wise to look for a policy that covers trip interruption when you buy a student travel insurance policy. Emergencies are unpredictable. 3. Medical Evacuation and Repatriation of the body Medical evacuation covers the charges that arise out of transporting the insured person back to his/her country in case of a prolonged medical emergency. Body repatriation includes the expenses that arise out of carrying the mortal remains of a student back to the family in case of an unfortunate incident of death. 4. Coverage for permanent disability and accidental death Most insurance companies offering travel insurance for students cover the permanent disability clause. In case of an accidental death or an accident that permanently disables the insured; a pre-decided amount is compensated to the family. 5. Compassionate visit In case of a medical emergency or hospitalization that requires a family member next to the insured; travel insurance plans in India cover the travel expenses of a family member. 6. Loss of Passport In the event of loss of the passport of the insured, travel insurance plans cover the expenses that arise out of buying a fresh passport or a duplicate one. 7. Personal Liability This coverage pays towards any damages caused by the insured person; especially if it is legally bound. While these are the fundamental aspects of coverage to look out for when you buy a student travel insurance policy, certain other aspects of coverage are also used to make your time abroad convenient. They are: ● Coverage for trip delay ● Loss or delay of checked-in luggage ● Missed departure or missed connection How to Find If You Have Sufficient Coverage? When you buy a student travel insurance policy, you have to be sure that you have enough coverage. Here are a few tips to find if you have the right kinds of coverage. ● Before you invest in a travel insurance plan, read the policy documents in detail and understand the inclusions and exclusions. Travel insurance online documents are also available. Alternatively, you can make use of the ‘free look period’ provided by the insurance companies. ● Check the coverage limits. Each aspect of coverage offered by the company comes with an absolute limit. Make sure you review them and find out if they are adequate for you. The limit of coverage provided is something you should know before you buy a student travel insurance policy. ● Make use of the optional riders. Every travel insurance plan comes with optional riders for extra coverage. If all aspects of coverage you are looking for are not provided in the program, choose them from the additional passengers. The travel insurance premiums are always cheaper with domestic travel insurance providers when compared to the International travel insurance providers based at the university. For more updates and News visit Policybazaar Linkedin Page
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AuthorInsurance and financial manager. Archives
May 2018
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