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Student travel insurance provides comprehensive coverage to students traveling abroad for studies beyond medical expenses and ensures security and peace of mind for students and their families.
Going to study abroad is one of the most defining moments of a student’s life. Life in a foreign country can be tricky, especially since it means staying away from one’s loved ones. Plus, there is the pressure of academics.
But while one plans for foreign education years in advance, one thing students tend to neglect is insurance. Staying alone in a foreign country brings about several risks that need to be managed. Here is where student insurance can help.
Peace of mind
Student insurance is essential as it helps students focus on academic pursuits without worrying about unforeseen circumstances. “With rising healthcare costs and university-specific mandatory student insurance requirements, having the right travel insurance ensures financial security and peace of mind for students and their families,” says Manas Kapoor, business head of travel insurance, Policybazaar.
Student travel insurance and normal travel insurance
But before we discuss this further, it is vital to understand the difference between student travel insurance and regular travel insurance.
“Mainly, the difference between student travel and normal travel insurance lies in the coverage and tenure,” says Parthanil Ghosh, President of Retail Business, HDFC ERGO General Insurance.
Longer duration for student travel insurance
Duration: Designers create travel insurance for longer durations, typically to match the length of a student’s course, ranging from several months to a few years. Conversely, insurers design regular travel insurance for shorter trips, usually covering travel periods from a few days to a few weeks.
Specific coverage for students abroad
Coverage: Primarily focuses on the unique needs of students abroad, such as covering tuition fees, compassionate visits from family in case of a medical emergency, and interruptions in academic pursuits.
Moreover, Standard travel insurance covers common travel-related risks, including trip cancellations, baggage loss, medical emergencies, and travel delays. It may also include coverage for loss or damage of personal belongings left at home in India.
Tailored insurance for different needs
“A travel insurance caters to the specific needs and risks associated with students studying abroad for extended periods, while a normal travel insurance is more general and suitable for shorter, leisure-focused trips with coverage extending to various aspects of travel and personal belongings both at home and abroad,” says Ghosh.