If you aspire to study abroad, there are various things that you need to watch out for rather than just your travel itinerary, part-time job options, accommodation, and so on. You will be in a strange new place with limited resources and if something unforeseen were to happen, you should be fully prepared for it. Hospitalization and other medical expenses would weigh heavily on your finances if you haven’t got a student travel insurance policy.
What is Student Travel Insurance?
A student travel insurance policy assists a student who is studying abroad, to avail medical and non-medical insurance coverage throughout his/her stay in the foreign country with unique features like auto-renewal and policy extension facilities. This coverage not just helps a student to pay for hospitalization and medical bills, but also assists in repatriation, visits from family, etc.
International Student Travel Insurance Policy Eligibility:
- Generally, any individual who is between sixteen and thirty-five years of age can apply.
- He/She should be enrolled for a course, in a registered educational institution of higher learning, and should be attending classes on a full-time basis, in a foreign country.
- Each student can have only one travel insurance policy for the specified period.
Features and Benefits of Student Travel Insurance:
- Covers various expenses like: loss of baggage, hospitalization, family visit, accident to sponsor, and other incidental expenses.
- Comprehensive coverage facilities such as:
- Study interruption
- Bail bonds
- Two-way flight coverage for compassionate visit from family
- Sponsor protection
Student Travel Medical Insurance Policy Covers:
- Expenses related to emergency medical evacuation of the insured to India
- Medical expenses arising out of medical emergencies whilst abroad, such as any sudden injury, illness or death
- In case of an untimely demise of the insured, the transport expenses arising out of the transfer of the insured’s mortal remains back home or for burial abroad, is covered.
- Accidental injury during the trip overseas
- Dental treatment and related expenses
- Compensation for personal accident which causes death or permanent disability, while riding as a passenger in a common carrier whilst abroad.
- Loss of baggage/personal effects by a common carrier
- Loss of passport and related expenses incurred on replacement of the passport/ for duplicate passport.
- Return ticket fare is reimbursed for a family member visiting the insured, if he/she has been hospitalised for 7 days or more.
- The paid semester fee is reimbursed, if the policy holder’s education is interrupted due to a medical emergency.
- Bail amount is paid to the concerned authority, if the policyholder is arrested or detained by officials for a bailable offence, whilst abroad.
- In case the sponsor paying the insured student’s fee passes away due to an injury, his/her tuition fees is reimbursed.
Student Travel Insurance Exclusions:
- The following are some of the exclusions applicable on student travel insurance policies in India:
Any Pre-existing Condition or any complication arising from it.
- If the Insured Person is travelling against the advice of a Physician; or receiving or on a waiting list for receiving specified medical treatment; or is travelling for the purpose of obtaining treatment; or has received a terminal prognosis for a medical condition
- Suicide or attempted suicide as well as intentionally self-inflicted injury or illness.
- Mental disorder or nervous disorder, stress, anxiety or depression
- Sexually transmitted conditions, such as Human Immunodeficiency Virus (HIV) infection or Acquired Immune Deficiency Syndrome (AIDS).
- Serving in any branch of the Military or Armed Forces of any country, whether in peace or War, in which case the insurance company will apply the pro rata premium for the duration of service.
- Participation in an actual or attempted crime, felony, misdemeanor, riot or civil commotion
- Being under the influence of alcohol, drugs or other narcotics/intoxicants/hallucinogens unless prescribed by a registered Physician and taken as instructed.
- Any loss or injury arising out of war, invasion, revolution, insurrection, act of foreign enemy, rebellion, hostilities (whether War be declared or not), use of military power or usurpation of government or mutiny.
- Operating or learning how to operate an aircraft, or being a member of the crew on an aircraft and performing related duties.
- Loss or injury due to exposure to any toxic, radioactive, explosive or other dangerous nuclear equipment or any part of such equipment
- Loss or injury due to ionising radiation or contamination through exposure to radioactivity from any nuclear fuel or nuclear waste.
- Congenital malformations or any complications arising therein
- Willing exposure to needless peril, except in an attempt to save the life of another human.
- Participation in skydiving/parachuting, winter sports, hang gliding, scuba diving, bungee jumping, mountain climbing, caving or potholing, riding in or driving in a motorized vehicle or bicycle as a part of a race or rally, hunting or equestrian activities, rafting or canoeing involving white water rapids, underwater activity such as skin diving, yachting or boating outside coastal waters.
- Participation in Professional Sports, or any bodily contact sport or other hazardous/ potentially dangerous sport for which the policyholder is untrained. This exclusion does not apply to injuries that are a result of inter-collegiate sports.
- Any loss that results directly or indirectly by childbirth or from pregnancy, and/or is contributed, aggravated or prolonged by the same.
- The Insured Person riding a motorcycle or any other motorized two wheeler as a mode of transport as driver or as passenger.
- Any loss of arising out of the policyholder’s actual or attempted commission of, or willful participation in, an illegal act or violation or attempted violation of the law or his/her resistance to arrest.
- Loss, injury, damage or legal expenses sustained directly or indirectly by a terrorist activity or nuclear, chemical or biological weapons.
- Loss, injury, damage or legal liability arising directly or indirectly from travel in, to, or through restricted countries like: Afghanistan, Cuba or Democratic Republic of Congo.
Best Student Travel Insurance Policies offfered by Insurance Companies:
- HDFC ERGO Student Suraksha – Student Overseas Travel Insurance
- Bajaj Allianz - Student Travel Insurance
- Reliance General - Student Travel Insurance
- Tata AIG - Student Guard
- ICICI Bank Student Overseas Travel Insurance
- ICICI Lombard - International Student Travel Insurance
- Bharti AXA General Insurance - International Student Travel Insurance
- Thomas Cook India - Student Travel Insurance Policy
Student Travel Insurance FAQs:
- If I have not travelled during the policy period, can I get a reimbursement?
If you have taken a student travel insurance policy but have not travelled during the specified period, don’t worry. Most insurance companies will refund the premium if the insured has not travelled during the policy period.
- What documents should I provide in order to avail a reimbursement if I haven't travelled during the policy period?
A few documents will have to be submitted to validate that the insured has not travelled overseas and to process the refund. The documents are as follows:
- Photocopy of all the pages of the passport.
- Provide a valid reason for policy cancellation.
- If the trip was canceled due to Visa refusal by the Embassy, then the Visa rejection letter has to be submitted.
- Which countries are restricted territories as stipulated by the student travel insurance policy?
The policy excludes claims arising from loss, injury, damage or legal liability arising directly or indirectly from travel in/ to/ or through restricted countries like: Afghanistan, Cuba or Democratic Republic of Congo.
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