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Planning to Study Abroad? Know All About International Student Travel Insurance

You’re going to move to a new country with surroundings that are distinct from those in your current one. If something goes wrong or an unexpected event occurs in such a situation, you should be well-prepared for it.

Therefore, it is crucial to purchase a student travel insurance in your child’s name.

How does student travel insurance work?

According to its name, student travel insurance coverage is created specifically for students who intend to pursue their studies abroad. Most importantly, it protects their finances from unplanned expenses they might incur while travelling.

The trip and the child’s health insurance are typically covered by student travel insurance.

Who can purchase student travel insurance?

The requirements for purchasing international student travel insurance are shown below:

  • Anyone between the ages of 16 and 35 may apply for a policy for student travel insurance.
  • Each student can only purchase one travel insurance coverage for a particular period.
  • You must be enrolled in a course at a reputable university that is recognised and licenced.
  • You must be taking the course full-time in a foreign country.

What qualifies as student travel insurance, and what are its features?

The key characteristics of the student travel insurance policy are as follows:

  1. Substance/component insurance: You will travel with your laptop, phone, and tablet because you are going abroad for further education. If you do lose your devices while travelling, you will have to pay additional costs.

Therefore, it is crucial to cover these devices so that you can receive compensation if they are stolen or lost while travelling.

  1. Personal liability: This coverage ensures you are compensated if you financially harm someone or their property.

For instance, if there are any problems, losses, or damages with your rental property or foreign lodging.

  1. Medical expenses: No matter the time or place, you are covered by medical coverage under the student travel insurance policy. It is highly recommended that students who intend to study abroad seek a travel insurancepolicy that includes medical coverage.
  2. Interruptions in studies: You should look for a travel insurance policy that can prevent your course from being stopped by unplanned circumstances.
  3. Compassionate visit: Most student travel insurance policies provide coverage for bringing family members to the nation where the student is attending school. People refer to it as a caring visit. In contrast, there is also the choice of a two-way compassionate visit, which entitles students to visit their home family in an emergency.

Included in student travel insurance

The student travel insurance policy typically provides the following coverage:

  • Transport costs in the event of an unfortunate mishap
  • Emergency medical evacuation costs to India
  • Medical emergencies occurring while travelling
  • Accidental injuries
  • Dental care and related expenses
  • Personal accidental coverage
  • Luggage loss
  • Passport loss and the cost of obtaining a duplicate passport
  • Return airfare for the insured person’s family members if they are hospitalised for longer than seven days
  • Reimbursement of semester fees paid if the insured person’s education is interrupted due to a medical condition
  • Payment of the bail amount to the appropriate official if the insured person is arrested

Conclusion

Numerous insurance providers offer student travel insurance. Quick online processing, easy settlement, on-call help, and a host of other advantages are available, which can help one select the best policy which suits their needs.

* Standard T&C Apply

** Currently, there are 2 tax regimes in India – new and old. To get the tax benefit you desire, choose the correct one after consulting an expert. You can opt for a regime change during the next financial year.

# Visit the official website of IRDAI for further details.

## All savings are provided by the insurer as per the IRDAI-approved insurance plan. Standard T&C apply

Insurance is the subject matter of solicitation. For more details on benefits, exclusions, limitations, terms, and conditions, please read the sales brochure/policy wording carefully before concluding a sale

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