A Quick Guide to Student Travel Insurance

Travelling and living in a foreign land can be an overwhelming and challenging experience, especially when you are a first-timer. Studying overseas comes with a high cost of living expenses and unforeseen situations, and the ins and outs of a new environment can get the better of you. Therefore, buying a Student Travel Insurance plan is the best option to safeguard yourself.

A Student Travel Insurance policy is specifically designed for students travelling abroad to pursue higher education. Hence, it provides coverage for expenses like hospitalisation due to a medical emergency arising out of an illness or accident, flight and baggage delays, study interruptions, etc., among others. Since the policy is designed for students, the premiums are much lower compared to regular health insurance or travel insurance plans.

If you are planning to study in the USA or any Schengen country, then a Student Travel Insurance policy is a mandatory requirement. Apart from that, many universities and colleges require you to have overseas Student Travel Insurance to enrol for a course. While some overseas universities and colleges offer Student Travel Insurance, it might not be sufficient for international students. Besides, most university insurance plans provide coverage only during the course and not during the vacations. Hence, buying a separate Student Travel Insurance plan with sufficient coverage makes sense.

What is covered under a Student Travel Insurance plan?

While the coverage of Student Travel Insurance may vary from insurer to insurer, it typically covers the following expenses:

• Medical expenses arising due to an illness or accident while you are abroad

• An emergency medical evacuation to India

• In case of the unfortunate death of the insured, the policy covers the expenses incurred in transporting the mortal remains to India or the cremation expenses abroad

• Acute dental care due to an injury

• Personal accident cover that provides a flat benefit to the insured or nominee in case of a permanent disability or death

• Compensates for permanent disability or accidental death while commuting in a common carrier

• The cost of acquiring a new passport in case the passport is lost or misplaced

• Compensates for the loss of checked baggage while travelling in a common carrier

• Loss of belongings like phone, laptop, bank debit cards and/or credit cards, licenses, etc., while travelling in a common carrier

• Compensation for flight delays or flight cancellations

• Reimbursement for the family member's compassionate visit in case the insured is hospitalised for more than a week

• Cover for any arrest or detention by judicial authorities for a non-international and bailable offence while abroad

• Settlement of semester fees in case it is interrupted due to a medical emergency

• Any emergency medical expenses - transportation & evacuation, and repatriation of mortal remains

• Compensation for tuition fees in case the parent or guardian who was sponsoring the education dies in an accidental injury

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What are the exclusions in a Student Travel Insurance plan?

Similar to the coverage, the Student Travel Insurance plan exclusions vary across insurers. However, the following are the common exclusions under most Student Travel Insurance policies:

• While most Student Travel Insurance plans do not provide coverage for pre-existing diseases and illnesses, some insurance companies have started offering coverage of up to 5% to 10% of the sum insured

• Any undeclared pre-existing diseases are not covered under the policy

• Loss or damage arising due to theft or loss of baggage, passport, and personal belongings not reported to the local police authorities within 24 hours of the event

• Any self-inflicted injury or suicidal attempt resulting due to mental disorder, hypertension, depression, stress, venereal diseases, or under the influence of intoxication like alcohol or drugs

• Sexually Transmitted Diseases such as HIV/AIDS

• Expenses incurred for medical treatment if an insured travel against the advice of the doctor

• If the insured is travelling specifically to get medical treatment abroad

• Expenses incurred for the disease, which is already been treated for

• Expenses incurred on a medical treatment done for a medical condition that has been declared terminal prognosis

• Any claim arising due to security and the law of the land breach

• Any claim arising from acts of war, invasion, rebellion, terrorism, participation in military exercises, etc.

• Any claim arising out of participation in adventurous sports or games, such as parasailing, paragliding, bungee jumping, skiing, scuba diving, rock climbing, etc.

• Any claim arising due to an accident related to radiation, nuclear waste, aircraft pressure waves, etc.

• Holistic treatment in long-term institutions like rehabilitation, convalescent centres, etc.

• Treatment required for a tropical/contagious disease where vaccinations were recommended by the government where the insured is travelling to

• Any claim filed for an incident that occurred after the trip duration limit mentioned in the policy

What are the things to consider when buying Student Travel Insurance Plan?

In order to benefit from insurance in times of need, it is crucial to buy the right insurance policy. Here are a few things you should consider when choosing the Student Travel Insurance policy for you or your child:

• Suitability:

  Different countries and universities have different requirement criteria for Student Travel Insurance. If your policy does not cover the mandatory requirements, you will have to again buy another policy that provides the required coverage. Hence, it is advisable to check with your university and the country you are going to travel to about the Student Travel Insurance requirements and only then buy the policy.

• Coverage:

  Student Travel Insurance coverage differs from insurer to insurer, and a specific coverage offered by one insurer might not be offered by others. Hence, if you are looking for specific coverage, it makes sense to go through the policy details and check whether the specific coverage is offered by the insurer. It is advisable to read the policy inclusions and exclusions thoroughly so that you get an idea of the policy coverage.

• Premium:

  Student Travel Insurance premiums considerably vary from insurer to insurer. It is often considered that a higher premium equates to maximum coverage. However, that might not be true. Hence, you should compare different policies in terms of benefits and coverage offered along with the premium it charges. You can easily compare different policies online on financial websites and choose the one that is suitable to you and offers maximum coverage at an affordable premium.

• Convenience And Claim Settlement:

  Apart from the suitability, coverage, and premium, you should also consider the convenience of buying and renewing the policy, claim settlement process, claim settlement ratio, and customer service to ensure your insurance journey is smoother.

To conclude:

Buying a Student Travel Insurance policy will protect you against financial losses arising from any untoward event while you are abroad pursuing higher education. Make sure you thoroughly compare different policies and buy the policy that suits you the best.

Warm Regards,
Ketki Jadhav
Content Writer