The days when only a few Indians had the lucky, tenacity and opportunity to leave the nation for higher studies, a job abroad, or both have long since passed. Sending your child abroad to pursue higher education is no longer regarded as a pipe dream due to the rise in Indian students studying in international colleges.
However, months of planning are required before that. You might experience stress from applying to universities to making financial preparations. In the thick of all this, it’s not uncommon to overlook an insurance cover, a crucial component.
Universities in the US and the Schengen region require overseas students to obtain insurance, while this need is optional in the UK, Australia, Singapore, and Malaysia.
Which Choice Is The Ideal Choice?
An advantage over ordinary insurance is why you should choose student travel insurance. Student travel insurances also cover lost luggage, lost passports, and crucial document loss in addition to accidents and medical emergencies. These policies can provide coverage for up to two or three years simultaneously.
How Do I Choose The Ideal Travel Insurance For Students?
Before purchasing the coverage, conduct a thorough study, and your choice should be well-considered. The insurance policy should cover unexpected medical, dental, accident-related expenses, evacuation and repatriation costs, personal responsibility, tuition, travel expenses, and sponsor protection.
Some plans also cover bail bonds in the event of an arrest based on unfounded allegations or unjustified detention.* The decision to purchase a policy depends on factors such as policy scope, claim settlement process, hospital network, and other non-medical benefits.
What Are The Facts You Must Know Of?
While many people do this, you should ensure that the student travel insurance complies with the college requirements your child is applying to. The institution reserves the right to reject your child’s insurance waiver if the policy’s coverage does not comply with its requirements. For instance, some colleges in the US and Canada require that international students obtain insurance that pays for costs associated with pregnancies, drug addiction, and mental diseases.
What if the insurance needs to be cancelled? If you need to revoke your student travel insurance, you must give the insurance company a valid justification. First, you must give the insurance a written notification 15 days in advance, the policy number, a digital copy of your child’s passport, and an explanation for the cancellation. Otherwise, you have seven days from the scheduled departure date for your child to travel abroad to cancel the coverage. The online travel insurance company will examine the passport and approve the cancellation.
A travel insurance premium calculator is a convenient tool you can utilise online to check the coverage required based on your needs.
Claims are subject to terms and conditions set forth under travel insurance policy.
*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.