Families sending their children abroad for studies end up investing a large sum of their income towards the Childs’ future. As important it is to do thorough research on the college that one wants to study at, the course that they want to study and the likes it is also equally important to do in depth research on an international travel insurance plan. There are various companies that offer different insurances for students and one can also get a student travel insurance online.
Good travel insurance for students going abroad to study typically covers two things – medical expenses as well as the regular travel expenses. Any unforeseen event may occur and it is better to be safe than burn a huge hole in your pocket. Scenarios like a medical emergency, travel delays, lost baggage, stolen money, cancellations and personal accidents might occur in the blink of an eye and it is always better to have coverage against these. Companies usually offer these plans to the age group between 16 – 40 years. The plan can either be bought for the entire duration for the study term abroad or for one year at a time which can be renewed three months in advance before the expiry date.
Factors that a student should receive coverage against are innumerable however a few are listed below which will help in making an informed decision.
- Medical emergency – this includes doctor consultation, prescribed medicines, checkups and tests, emergency medical evacuation, cost of hospitalization, accidental medical expenses, personal accident cover, cancer screening, physiotherapy, mental and nervous disorders, maternity benefits in the case of termination of pregnancy to sudden death. However not all companies cover every aspect mentioned and this will differ from policy to policy.
- Felonious assault
- Loss of travel documents like visa, passport and other papers. It also helps in the process of replacing the concerned documents.
- Loss, damage or stolen luggage.
- Legal assistance
- Flight cancellation or delays due to natural calamities or other emergency. This also covers trip delays or trip curtailments which results in money loss in accommodation bookings.
- A round the clock helpline number for any kind of assistance that one may require. Usually a particular agent is assigned by the company.
- Bail bond
- Fraudulent charges
- Sponsor programs
- Coverage against expensive gear like camera, laptop and mobile that is stolen or damaged.
- Tuition fees of the university in case the family is unable to pay it within the stipulated time.
- Hijack allowance or loss incurred due to terrorist activities or political unrest
- Childcare expenses as this covers individuals to the age of forty years and many might be pursuing a degree while nurturing a family.
- Repatriation of mortal remains
The list is inexhaustible as different companies offer different options however the credibility of the company should be kept in mind before the plunge is taken. The plan and premiums should be affordable and moderate in nature. The claim settlement ratio being offered by the insurance provider should be checked beforehand because this will ensure a hassle free settlement. Different locations accept different plans and the one selected should be of the correct nature. However the most important thing to keep in mind is that one plan does not fit all as each one is unique and has different needs. The various plans can be customized as per the need of the individual however there are certain basic heads that is common across policies.