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How Lack of Student Travel Insurance Could Affect Your Foreign Education

By Finserv MARKETS - Oct 23,2019
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Student Travel Insurance Benefits

Due to the increasing competition in almost every sector, a large number of students are looking forward to pursuing higher education abroad to enhance their expertise. It has been observed that there has been a significant rise in students traveling abroad for higher studies. Though studying abroad can be an exciting prospect, it is essential for students to take care of care of various aspects such as travel itinerary, accommodation, part-time job options, etc. before flying abroad. Moreover, students must also avail a travel insurance plan to safeguard themselves from any financial losses that may arise in case of unfortunate circumstances. Usually, a student travel insurance policy covers both the trip as well as the student’s health during his stay in a foreign country.

Let us have a look at some of the benefits of student travel insurance

  • One of the major benefits of this policy is that it covers various expenses of the insured such as loss of baggage, hospitalization, family visit, accident to sponsor, and other incidental expenses.
  • Students can also opt for comprehensive coverage facilities such as study interruption, bail bonds, two-way flight coverage for compassionate visit from family, sponsor protection, etc.

Other risks covered

  • Expenses associated with emergency medical evacuation of the insured to India.
  • Medical expenses arising out of medical emergencies while abroad, such as any sudden injury, illness or death.
  • Accidental injury during the trip overseas.
  • Dental treatment and related expenses.
  • Compensation for personal accident that leads to death or permanent disability.
  • Loss of passport and related expenses incurred on replacement of the passport or for a duplicate passport.
  • Return ticket fare of a family member visiting the insured if he/she has been hospitalized for 7 days or more.
  • The semester fee is reimbursed if the student’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 offense, while abroad.
  • In case the sponsor paying the insured student’s fee passes away due to an injury, his/her tuition fee is reimbursed.

Keeping all these benefits in mind, it is safe to assume that having a travel insurance policy is a must for every student planning to pursue higher education overseas. With the help of leading insurance providers, students can easily avail student travel insurance online from the comfort of your home. Bajaj Allianz Student Travel Insurance available on Finserv MARKETS offers a wider coverage and comparatively lower premium. This makes us one of the most preferred choices amongst students traveling abroad.

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Bajaj Finserv Direct Limited ("BFDL"), erstwhile Bajaj Financial Holdings Limited is a registered corporate agent of Bajaj Allianz Life Insurance Company Limited and Bajaj Allianz General Insurance Company Limited under the IRDAI composite registration number CA0551 valid till 10-Apr-2021. BFDL also renders services to Bajaj Finance Limited (‘BFL’) and Bajaj Housing Finance Limited (‘BHFL’) (referred hereinafter as ‘Lending Partner’) in sourcing of customers, providing preliminary credit support activities, fulfilment services and post-acquisition customer services related to lending business. Registered Office: Bajaj Auto Limited Complex, Mumbai – Pune Road, Akurdi, Pune – 411 035 CIN: U65923PN2014PLC150522