If you are aspiring to go abroad to study and if you have already garnered admission in the university of your choice, you must be busy packing everything that you may possibly need. One thing you must not forget to take with you is a student travel insurance policy. While education in foreign university provides a great future prospect to get your degree from a foreign country,it comes with its own share of uncertainties and hesitations.

On an average, every year, nearly 50000 to 55000 students/professionals travel from India to countries like US, UK and Australia. We have also seen Germany and Ukraine becoming favourite destinations for specific subjects such as Science and Medicine in the recent years.

Opting for Student travel insurance which provides a host of benefits including medical and non-medical insurance coverage for the tenure of your academic course with auto-renewal and extension facilities will come in handy in testing times. The coverage is exhaustive and provides for the expenses that are incurred on medical treatment, passport loss, and study interruptions.

Insurance companies generally provide student travel insurance to those who are between 16 to 35 years of age.Here is a snapshot of various covers that students can avail:

Personal Accident
Most of the times,insurers provide coverage against accidental death and permanent total disablement, irrespective of the country in which you are studying.

Loss of Passport
This cover keeps you at bay from the fright when you lose your documents in a foreign land. It shields you from this inconvenience and ensures that the reasonable expense that may be incurred in procuring a duplicate or temporary passport overseas is covered.

Baggage Delay/ Loss
In case of baggage loss, your insurer is liable to pay up to the specified maximum limit as per the policy wordings.The policy can also provide financial protection on unplanned personal purchases due to delay in arrival of the checked-in baggage in a foreign country.

Medical expenses

The insurance plans take care of your
medical expenses that may arise owing to accident and illness while travelling. This medical assistance also includes emergency dental treatment, maternity benefits and also takes care of transfer to the nearest location (or country) where the treatment you need is available. From our database, we have observed that students have filed claims for medical OPD the most, which goes to show that this is one of the most important feature of the policy.

The student travel policies are so comprehensive that they ensure the reimbursement of unutilized tuition fees if you are hospitalized for more than one consecutive month for Injuries/ ailments that are covered under the policy

Sponsor Protection
In case of accidental death or permanent disablement of your sponsor, your tuition fee incurred for the remaining period of this education up to specified maximum limit will be reimbursed by the insurer.

Tuition fee
The student travel policies are so comprehensive that they ensure the reimbursement of unutilized tuition fees if you are hospitalized for more than one consecutive month for Injuries/ ailments that are covered under the policy. This also includes the cases of terminal illness or transportation to the nearest location in case of medical emergency or in case of accidental death of your immediate family member.

Remember:
While many diverse aspects are covered under a student travel insurance policy, it is important to fully understand the exclusions of such policies.

It does not entail the medical expenses that may be incurred when the specific purpose of a journey is to receive medical treatment or advice for pre- existing conditions. Also, it does not shield you in cases that are related to the influence of alcoholism, abuse of drugs, HIV and AIDS.

Unexpected situations that pose as a hurdle in your study plans can make you spend your savings in a jiffy. Today educational institutions abroad usually provide such policies partly or ensure that you purchase one as a part of their admission/academic course mandate.

There is minimum paperwork involved in this form of insurance.Today, insurance companies have adopted the digital platform and provide all the details of their products on respective websites. Applying for a student travel insurance policy may be as simple as running a few medical tests and submitting documents that are required by the insurer. Many companies offer customized policies as well to cater to your preferences and requirements.

With increasing disposable income and the scaling ambitions of the Indian youth, we have certainly seen anupsurge in the awareness and acceptance of student travel insurance.

It is essential to evaluate and compare the different policies that are offered by different insurance companies to select the right plan. It is recommended to buy a policy from a reputed insurer that has a respectable record of servicing and claim settlement as these are the vital features when you need to register a claim. You must also remember that an economical policy may not always be the paramount policy for you. Lastly, you should always read the policy document carefully to understand the terms of the policy before making the final decision.