Home Insurance Travel Insurance Student Travel Insurance – Advantages, Plans, Exclusion & FAQs !

Student Travel Insurance – Advantages, Plans, Exclusion & FAQs !

What can go wrong in student travel insurance?

Travelling to foreign countries for higher education is always an entirely novel experience. There are the excitement and joy in anticipation of a new beginning, a journey into unfamiliar terrain. It is easy to overlook the chances of unforeseen incidents that may happen to you. Yet, life is nothing if not unpredictable, and the risk of something going wrong is far too great. You may lose your travel documents, you may fall ill, or face an accident. Expenses are much higher in most foreign countries where students typically go to study and facing an adverse incident unprepared can take off your entire focus from studies. It is thus advisable to be prepared and buy a Student Travel Insurance Policy before you take off for your further education. A number of students planning to travel abroad are usually unaware of specialized insurance policies for students and either purchase general travel insurance for countries that mandate insurance to visit or simply don’t purchase at all. This article shall provide comprehensive information about Student Travel Insurance and what it may safeguard you against so that you are prepared to tackle your journey into a new world stress-free.

What can go wrong in student travel insurance?

Let us understand this with an example. Say, you have been admitted to your course of choice in a foreign university. All your bags are packed and you are excited to begin a new chapter in your life. En route, you lose a bag that had most of your clothes and other necessities. Of course, you can purchase new clothes abroad, but it will cost you money. Now if you had a student travel insurance policy, you could have claimed reimbursement from the insurer. You could have then used the reimbursement money to replenish your stock. This way there would be no need to spend money from your own pocket.

This is one such scenario where a student travel insurance can come in handy. In addition to this, student travel insurance can also come to your aid in the following scenarios –

Illnesses: A change of environment can trigger an illness in the body while the body acclimatizes to the new surroundings. The risk is all the greater if you have a pre-existing medical condition, which may not be life-threatening, but is certainly debilitating. Treatment for diseases is always costlier in most foreign countries, and even more so if you need to be hospitalized.

• Sporting injury: While you may not be an accomplished sportsperson, college is the perfect place to engage in these activities as they help you become a complete and well-rounded individual. However, being involved in sports (especially contact sports like football) makes you prone to injuries, even more so if you are untrained or have no previous experience. Such injuries put a great deal of stress both in your studies as well as on your finances.

• Accidents: Maybe you are a caring soul who is always cautious when it comes to doing regular day-to-day things. However, life is unpredictable, and sooner or later, you might find yourself in an unfortunate traffic accident requiring urgent medical attention and even may need to be repatriated as soon as possible. The costs of repatriation are high even when they are planned; especially arranging unplanned emergency transportation may prove to very costly.

• Accidental Liabilities: Accidents may not always harm you directly, but the people around you, causing harm to their person or property. It may also be possible that you are wrongly detained or arrested for trial in such cases, the possibility made all the more plausible due to the unfortunate global political scenario worldwide. In such unlikely events, arranging bail or legal help will become an absolute headache, combined with the impact it may have on your studies.

• Lost Belongings: You have prepared and arranged all your documents, boarded the aircraft, and arrived on foreign soil. On arriving, you find your luggage has been delayed due to human or technical errors, or worse still, lost or stolen. Making alternate arrangements now becomes almost impossible, and you may well be forced to return home wringing your hands.

• Interruptions: Life is unfair, and during the course of your study, you may be faced with a possibility where you have to interrupt your course for any number of reasons, including the health conditions of your family, death or disablement of your course sponsor so far, and even medical conditions requiring you to take a prolonged leave. It becomes difficult, if not downright impossible at this point to complete your course, even more so if you do not have any form of scholarship.

There may be a number of other ways by which you may be burdened with unforeseen expenditures, and as a student, it is usually very difficult to handle these by yourself. It is thus sensible to be prepared and buy a Student Travel Insurance Policy to protect your finances without denting your savings or disturbing your education.

Why get Student Travel Insurance?

Now that you are admitted to your educational institute of choice in your preferred foreign country and all your educational documents are ready, you have set about to gather your travel documents. Amongst your travel documents, travel insurance is a very important document. In fact, it is necessary to have a travel insurance policy in countries like the USA. Student Travel Insurance is a specialized form of travel insurance that enables you to get some extra benefits over and above the standard travel insurance.

The extent of coverage provided by different financial institutions varies, but usually includes:

  1. • Coverage for the expenses incurred due to illness or worsening of pre-existing conditions and pays for the complete cost or partial cost of hospitalization
  2. Coverage for the cost of transportation and accommodation of a family member in case the health condition requires long-term hospitalization
  3. • Coverage of expenses for treatment of dental conditions
  4. • Complete or partial coverage of the tuition fees for the extent of interruption in the course due to hospitalization
  5. • Covers for the cost of repatriation in the event of a medical emergency
  6. • Covers for the delay in arrival or loss of luggage during transit
  7. • Covers for the replacement of passport in case it is lost or damaged accidentally
  8. • Covers the tuition fees of the course in case of death or permanent disability of the sponsor
  9. • Covers the cost of bail in case of arrest or detention
  10. • Covers the cost of legal personal liabilities in case of damage to a third person or property of others
  11. • Covers the treatment cost of injuries due to college sporting events as well as adventure sports
  12. • In case of unfortunate demise, covers the cost of transporting mortal remains back to the country

Most universities make it mandatory for an overseas student to have an insurance policy. The Student Travel Insurance has wider scope viz-a-viz students as opposed to the general travel insurance policies, and it is thus advisable to get one before starting.

What are the advantages of Student Travel Insurance?

Most foreign universities make it mandatory for an overseas student to have an insurance policy. An insurance policy is also necessary to visit certain countries like the USA, Germany, Spain, Italy, etc. Some universities require students to purchase a specific policy, while others leave the choice up to you. It is always advisable to buy a Student Travel Insurance Policy rather than a simple general travel insurance policy due to a number of benefits offered by the former, including:

• Duration: While the general travel insurance ensures you only for the duration of travel, Student Travel Insurance policies are much more comprehensive and provide insurance for the entire duration of the course you are enrolled in.

• Coverage of fees: The Student Travel Insurance Policies have provisions for coverage of tuition fees in certain cases, including medical conditions, death or disability of family members, the death of sponsors, etc. General travel insurance policies offer no such provisions.

• Special visit: In case you are admitted to the hospital for an extended duration, the Student Travel Insurance covers the travelling and accommodation expense of a family member as a visitor, something the general travel insurance policies do not cover.

• Sports cover: The Student Travel Insurance policies cover a number of sporting activities that a student might participate in, so if you sustain an injury and require treatment for it, the insurer shall cover the costs of treatment and hospitalization if necessary. General insurance policies do not cover treatment for such activities.

• Adventure sports: A number of Student Travel Insurance policies also cover adventure sports and medical expenses arising from these activities. These are again not covered by general travel insurance policies.

Mental health cover: In recent times, a number of Student Travel Insurance policies provide coverage for mental health conditions and treatments for the same, something the general travel insurance policies do not usually provide.

It is thus far more advantageous to buy a Student Travel Insurance Policy over other general travel insurance policies since the former provides far greater coverage than the latter, and these added benefits are essential for you as a student studying in a foreign country.

What is not covered under Student Travel Insurance?

While the Student Travel Insurance provides you with a financial safety net in a foreign country with no other sources of getting help by providing financial protection against a number of conditions, there are a few cases where the Student Insurance policy does not provide coverage. These may include:

• Damage to you or your property due to local unrest, civil war, riots, terrorist attacks, etc. are not covered by student travel insurance

• Expenses shall not be covered if you have been advised against travelling by a competent medical practitioner and yet you ignore their advice

• Unless your pre-existing health condition becomes life-threatening, expenses related to its treatment shall not be covered by student travel insurance

• Expenses due to undeclared pre-existing health conditions shall not be covered

• Student Travel Insurance does not cover costs incurred due to self-inflicted injury, attempts to suicide, or suicide

• Student Travel Insurance does not cover expenses due to the treatment of sexually transmitted diseases

• A number of experimental medical procedures are available to university students who may volunteer for their trial. Untoward incidents or health conditions caused by these procedures are not covered by Student Travel Insurance

• Student Travel Insurance does not cover health disorders caused due to the use of illegal drugs or other illicit substances

How to select the best Student Travel Insurance Plan?

Going to a foreign country for higher education is costly by itself. The Student Travel Insurance Plan is supposed to provide a safety net in case of financial difficulties due to unforeseen adverse situations. However, without a little bit of research, you may very well be stuck with either a needlessly expensive plan or a uselessly insufficient one. So how do you pick one Student Travel Insurance that will be exactly the right fit for what you have in mind?

The following pointers might prove handy:

• The rate of settlements: Look into the claim settlement ratio of the company you plan to purchase insurance from. While not an absolute benchmark for the insurance provider, the rate of claim settlements made by them in the past can help you determine the treatment you would receive from their end.

• Brand value: The key factor in any insurance is the sense of security it gives to the insured. Thus, insurance purchased from an established brand is likely to be more secure than one purchased from a not so well known brand.

• The extent of coverage: Since the extent of coverage provided by different companies are very different, proper research into what is covered and what is excluded can help you pick the insurance just right for you.

• Lucrative returns: If the sum insured appears a little too good to be true, it probably is. In general, a higher sum insured mean higher premiums or some hidden unsavory clauses in the fine print of your insurance documents.

• Course objectives: Your insurance plan shall be largely determined by what you plan to do during the course. A simple Student Travel Insurance should suffice for regular course-related work and living. If you plan to take part in adventure sports events, a rider at a small extra premium should provide added coverage to you.

• Cost of premiums: Studying abroad is already costly. Thus, it makes absolutely no sense investing in a plan with high premiums that you can barely afford simply because of a large sum insured. Equally pointless is investing your money in a plan with cheap premiums because it may well turn out to be insufficient for your plans.

• Course location: Both the cost and coverage of the insurance plan you select will depend on where you are planning to undertake your higher education since health care facilities and other expenses vary widely from one country to another.

• Ease of access: Last but not the least, an important factor in selecting your insurance plan is how accessible it is to you. Everybody dislikes bureaucracy, so if you have to break through a mountain of red tapes to get your claim settlement, perhaps the policy is not really what you are looking for.

Keeping the above factors in mind, you can do a bit of market research to find your perfect Student Travel Insurance plan. Insurance providers also offer these services online, making the research and purchase procedure smooth, hassle-free, and much more accessible. So if you are planning to study abroad, buy a Student Travel Insurance, so that nothing comes between you and your education.

Student Travel Insurance FAQs

What is meant by Travel Insurance?

Travel Insurance is a financial policy that insures you against unforeseen circumstances that may arise during a trip like medical emergencies, loss of luggage, etc.

What are the different types of Travel Insurance Plans?

Travel insurance plans may be of various types catering to individuals or to groups of people. Some of these include:

Group Travel Insurance Plan

Senior Citizen Travel Insurance Plan

Student Travel Insurance Plan

Corporate Travel Insurance Plan

Multi-Trip Travel Insurance Plan

Medical Travel Insurance Plan

 

Most insurance providers adopt a flexible policy and allow you to select a plan depending on your specific requirements.

What does Student Travel Insurance mean?

Student Travel Insurance is a financial policy that insures a student admitted to a foreign university from unforeseen circumstances that may arise during their travelling and stay abroad. Such policies usually provide a number of benefits over the standard travel insurance policies.

Can I travel without student travel insurance?

Some countries like the USA, France, Germany, Spain, etc. have made insurance compulsory. Most universities also make it mandatory to have an insurance plan for admission to their courses. The Student Travel Insurance plans provide a number of benefits to students studying a course at a foreign university over and above those offered by general travel insurance plans.

What unforeseen circumstances can the Student Travel Insurance protect me from?

Student travel insurance can protect you from the following circumstances during your travel and stay in a foreign country for the duration of the course:

Delay or cancellation of flights or other modes of public transport

Loss of baggage and essential travel documents like passports

Medical emergencies

Health conditions

Interruption of course due to medical conditions of the student, or those of their family members or sponsors

Travel and accommodation for a family member during extended hospitalization of the insured

 

Sporting activities

How do I benefit from buying a Student Travel Insurance Policy?

Buying a student travel insurance for your higher education abroad can provide you with a number of benefits, including:

Coverage for the expenses incurred due to illness or worsening of pre-existing conditions and pays for the complete cost or partial cost of hospitalization

Coverage for the cost of transportation and accommodation of a family member in case the health condition requires long-term hospitalization

Coverage of expenses for treatment of dental conditions

Coverage for the tuition fees completely or partially for the extent of interruption in the course due to hospitalization

Covers for the cost of transportation back to the country in the event of a medical emergency

Covers for the delay in arrival or loss of luggage during transit

Covers for the replacement of passport in case it is lost or damaged accidentally

Cover the tuition fees of the course in case of death or permanent disability of the sponsor

Covers the cost of bail in case of arrest or detention

Covers the cost of legal personal liabilities in case of damage to the person or property of others

Covers the treatment cost of injuries due to college sporting events as well as adventure sports

 

In case of unfortunate demise, covers the cost of transporting mortal remains back to the country

Do I need to buy a student travel insurance policy for higher education in India?

Student Travel Insurance Policy is applicable only to students admitted to courses in foreign universities.

 

Can I buy Student Travel Insurance only for non-medical emergencies?

Flexibility is an integral property in the insurance policies provided by most insurance providers. You can thus purchase a Student Travel Insurance Policy that will cover only cover non-medical events.

I have insurance. Do I still need to buy the student travel insurance policy?

General travel insurance policies do not cover students travelling to a foreign country for higher education. You may be offered some financial adjustments with your current insurance policy depending on your insurance provider.

Are medical tests essential to buy Student Travel Insurance?

Medical tests are usually not required to buy student travel insurance. However, the requirement may vary from plan to plan, especially in case you have a documented pre-existing medical condition. Premium costs may be higher in these cases.

Can I cancel the student travel insurance plan?

Most insurance providers provide a fixed period of time after purchasing the insurance during which it can be cancelled without any charge or with only a nominal charge. Cancellations after this period may incur a higher charge.

I think student travel insurance plans are just a waste of money.

A number of countries do not allow you to visit without a form of travel insurance and most universities require student insurance as a necessary criterion for the course. Some universities prescribe the policy that students need to purchase, while others leave the choice up to you. Some market research and advice from senior students and professors of the university you intend to join can help you pick a student travel insurance plan that will be adequate for you without putting unnecessary strain on your finances.

Do the insurance documents need to be on my person at all times?

While it is not essential to keep documents on your person at all times, it is beneficial if you can access them easily. This way, a claim can be made without unnecessary loss of time. Nowadays, online insurance policies have made this process far easier by safely storing all your documents on online servers which you can access 24/7 via the internet.

Can my student travel insurance plan be extended?

Usually, insurance policy providers provide the opportunity for extension of a plan by a fixed number of days. If required, you can renew your student travel insurance policy before it expires.

What is a corporate travel insurance plan?

Corporate travel insurance plans are designed for working professionals who need to make multiple trips to different places. These are usually long-term plans and may be bought either individually or for a group by the company.

How can I select the best travel insurance plan for my group?

Life is largely unpredictable, so it is very difficult to determine the best insurance plan for your group. You can ask for the advice of professional consultants and discuss with seniors and professors of your target university about specific details. In general, you can keep the following in mind to help select a group travel insurance fit for your needs:

The rate of settlements: Look into the claim settlement ratio of the company you plan to purchase insurance from. While not an absolute benchmark for the insurance provider, the rate of claim settlements made by them in the past can help you determine the treatment you would receive from their end.

Brand value: The key factor in any insurance is the sense of security it gives to the insured. Thus, an insurance purchased from an established brand is likely to be more secure than one purchased from a not so well known brand.

The extent of coverage: Since the extent of coverage provided by different companies is very different, conducting a thorough research into what is covered and what is excluded can help you pick the right insurance policy.

Lucrative returns: If the sum insured appear a little too good to be true, it probably is. In general, higher sum insured mean higher premiums or some hidden unsavoury clauses in the fine print of your insurance documents.

Course objectives: Your insurance plan shall be largely determined by what you plan to do during the course. A simple Student Travel Insurance should suffice for regular course-related work and living. If you plan to take part in adventure sports events, a rider at a small extra premium should provide added coverage to you.

Cost of premiums: Studying abroad is already costly. Thus, it makes absolutely no sense investing in a plan with high premiums which you can barely afford simply because of a large sum insured. Equally pointless is investing your money in a plan with cheap premiums because it may well turn out to be completely insufficient for your plans.

Course location: Both the cost and coverage of the insurance plan you select will depend on where you are planning to undertake your higher education since health care facilities and other expenses vary widely from one country to another.  

Ease of access: Last but not the least important factor in selecting your insurance plan is how accessible it is to you. Everybody dislikes bureaucracy, so if you have to break through a mountain of red tapes to get your claim settlement, perhaps the policy is not really what you are looking for.

 

 

Does the student travel insurance cover acts of terrorism?

No, travel insurance policies do not cover death or damage due to acts of terrorism. 

Can I claim medical coverage if I am injured during an anxiety attack?

Student travel insurances usually provide coverage for mental health conditions either integral to the plan or as riders. Also, make sure your peers and the appropriate personnel are aware of any mental health conditions you may have to ensure the presence of a support group at all times. 

What conditions are usually excluded under the student travel insurance policy?

Some commonly excluded factors under the student travel insurance include:

Damage to you or your property due to local unrest, civil war, riots, terrorist attacks, etc. are not covered by student travel insurance

Expenses shall not be covered if you have been advised against travelling by a competent medical practitioner and yet you ignore their advice

Unless your pre-existing health condition becomes life-threatening, expenses related to its treatment shall not be covered by student travel insurance

Expenses due to undeclared pre-existing health conditions shall not be covered

Student Travel Insurance does not cover costs incurred due to self-inflicted injury, attempts to suicide, or suicide

Student Travel Insurance does not cover expenses due to the treatment of sexually transmitted diseases

A number of experimental medical procedures are available to university students who may volunteer for their trial. Untoward incidents or health conditions caused by these procedures are not covered by Student Travel Insurance

Student Travel Insurance does not cover health disorders caused due to the use of illegal drugs or other illicit substances

Student travel insurance does not cover less than 24 hours of delay in the arrival of baggage

Loss or damage of keys, credit or debit cards, personal belongings are not covered

 

Arrests or emergency detentions under bailable acts are covered by a student travel insurance policy, but deliberate criminal acts and those under non-bailable acts are not covered

Can student travel insurance policies be purchased online?

Yes, many travel insurance policies can be purchased online. 

Why should I invest in an online travel policy?

Some reasons why online travel insurance policies are better over their offline counterparts to include:

Complete transparency: All documents and other relevant information are available at your fingertips, without the fine print.

Automated payments: Payment of premiums can be made automated in an online policy, so there is no need to remember to pay your premiums on time.

Security: All insurance documents are stored encrypted on the company server and can be accessed securely from anywhere.

Convenience: Premiums can be paid from anywhere and at any time, payments can be automated, claims can be filed at your convenience; online insurance policies are extremely convenient.

Consumer power: No brokers ensure that you get exactly what you pay for, a policy that is suited to your needs.

E-statements: Policy related documents are e-mailed to you at regular intervals, allowing you to stay updated on every aspect of your policy.

24x7 customer service: In case of any queries, trained professionals are always available.

 

 

Is it safe to invest in an online insurance policy?

Yes, online insurance policies are safe and secure. 

What documents shall I need to file a claim for the travel insurance?

Apart from the insurance-related documents, other documents that may be required depending on the insurance provider and the reason for the claim, and may include:

Bills

Prescriptions

Reports

Discharge summaries

Receipts

Death certificate for the transfer of mortal remains back to India

Proof of the value of items in your bag

Proof of judicial decision

FIR copy

 

 

 

 

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