One of the common dilemmas amongst students planning overseas for higher study is opting for the right student travel insurance. Presently, there are multiple insurance options available for students with reference to other general insurance types. Unfortunately, due to lack of knowledge, students make a mistake by equating regular travel schemes with student travel insurance, thereby exposing themselves to financial risk.
The major differences between a regular travel insurance and student travel insurance are discussed here.
What is Travel Insurance?
Travel insurance is one type of insurance bought by a traveller before embarking for a journey. This insurance covers the medical and financial emergency faced during the vacation. Financial institutes and insurance companies offer various policies under travel insurance to choose upon. An overseas travel policy covers emergency in-patient and out-patient hospitalization, flight disruptions and third party coverage.
What is Student Travel Insurance?
Student travel insurance policy covers different aspects of higher studies. One such coverage is the Study Interruption due to medical emergencies or any other reasons. The protection also covers the fees for the course in case of death of the student or any other medical emergency. Usually, such type of insurance is available for 2 years, after which it can be renewed for a certain period of time. This also depends on what the insurance provider offers.
Features of Student Travel Insurance:
Options to Select:
By having multiple travel insurance coverage options similar to health insurance, choosing the right one could be confusing. However, if buying a student travel insurance, there is no need to purchase a separate travel policy. The only exclusion is that it doesn't cover pre-existing conditions. It is always advisable to compare travel insurance policy online from a dependable insurance aggregator.
It also makes sense to buy the insurance from an Indian insurer because it can generate savings in term of paying the premium. However, the premium shouldn't be the only thing to consider, but factors like network hospitals, cashless facility, travel insurance claim process etc. are also important.
Some of the available Student Travel Insurance Policy:
Conclusion:
Due to high cost of medical expenses in developed nations, it’s difficult to manage the expenses. Fortunately with an insurance policy, students would be able to manage any financial impact. However, knowing the difference between the student travel insurance and other similar insurance is the foremost thing to consider.
0 Comments