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Why Do You Need a Student Travel Insurance

By Finserv MARKETS - Jan 25,2019
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Why Do You Need A Student Travel Insurance?

It’s a well-known fact that there are many Indian students studying abroad and the numbers are only increasing with each passing year. They go overseas to secure their future and this can be extremely challenging as many unforeseen circumstances are bound to arise. Hence, security is necessary before one treads on the path of overseas higher education to achieve success.

This is exactly what your insurance plan is meant to facilitate. It’s a variant of a travel insurance plan, designed specifically for Indian students studying in foreign countries. There are also many online insurance plans available for students to choose from.

Now, let’s discuss some of the striking features of student travel insurance plans that are beneficial.

1.Emergency medical expenses

It’s difficult to anticipate a medical emergency, so the best strategy is to be prepared. Many countries charge exorbitant prices for healthcare services and this can burn a hole in your pocket. Even basic consultation with a doctor can be very expensive in countries like USA. By getting a student travel insurance, you don’t have to worry about any medical expenses.

2.Permanent disability

In case of an accident that leads to permanent disability, your student travel insurance will provide a compensatory amount.

3.Loss of passport

This is the most vital travel document and its loss can be extremely nerve-wracking. By insuring yourself, you can avail the monetary assistance provided by your insurance company which will help alleviate stress to a great extent.

4.Personal liability

Any financial liability arising from unintentional physical injury or property damage caused to a third party, will be covered by your insurance provider. It’s important to remember that the losses incurred can be enormous and protecting yourself with student travel insurance is essential.

5.Bail Bond

Getting entangled in any legal situation abroad can be extremely distressing and can sometimes lead to detention or arrest by the police. In such a case, travel insurance will cover the bail bond money.

6.Sponsor protection

Parents or guardians strive earnestly for the success of their ward and provide selfless financial assistance. However, their unfortunate death can be difficult both emotionally and financially for the student. In such a case, the tuition fee will be taken care of by the insurance provider.

All the above-mentioned features ensure the safety of a student while they are studying abroad. It makes sense for you to consider buying such a plan before you begin your higher education in a new country. Having said that, it is advisable that you compare different student travel insurance plans before taking a final decision.

With Finserv MARKETS, you can leave all your worries to us. Log on to our website and apply for your student travel insurance online in a quick, easy and hassle-free way.

Now that you know the advantages, also read in detail about travel insurance coverage before buying a policy.

“Finserv MARKETS, from the house of Bajaj Finserv is an exclusive online supermarket for all your personal and financial needs. Loans, Insurance, Investment and an exclusive EMI store, all under one roof – anytime, anywhere!”

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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