Going Abroad To Study? Carry The Right Cover

Comprehensive policies offer more protection and meet the needs of universities; those from India are cheaper

- Bavadharini KS

The checklist for students planning their studies abroad is usually long, but what should top the list is insurance. One of the reasons why students should carry travel insurance while travelling abroad to pursue higher education, is to cover medical expenses.

This is because the cost of healthcare overseas is expensive compared to India. An insurance cover takes care of both medical and non-medical expenses.

So, what kind of policy does a student need? For starters, it is best to take insurance in India. Students do have the option of availing themselves of insurance abroad, but the cost could be higher and scope of coverage could also be limited.

That said, your student cover should ideally meet the insurance criteria set by the university. The criteria could be in terms of minimum sum assured or a list of specific covers.

Here is a low-down on the options available.

Comprehensive cover

Most insurers such as Bajaj Alliance, Reliance and HDFC Ergo cover basic expenses that include emergency medical expenses (approved by emergency assistance service provider), repatriation of mortal remains and medical evacuation and accidental death.

But there are products in the market that provide comprehensive medical cover and include non-medical covers related to travel, study interruption, sponsor cover and personal liability insurance.

For instance, in Bajaj Allianz Student Elite Gold plan, for SA of $2 lakh, you get cover for emergency medical expenses, medical evacuation, emergency dental treatment, repatriation, accidental death and disability, loss of checked-in baggage, tuition fee, bail bond insurance, sponsor protection and family visit. The premium works out to ₹9,947 per year (excluding US and Canada).