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Why do You Need a Student Health Insurance?

Many students have a dream to pursue their higher education from a foreign university. Getting accepted into one of your desired international universities is a dream come true. After all, you have meticulously prepared for all the needed examinations to secure a seat at the university.

However, pursuing higher education abroad means to leave behind your loved ones and your hometown to accomplish your dream. While successfully managing your education in a new country with a diverse culture, it surely can get overwhelming.

We understand that you cannot pre-plan for all the concerns that you may be facing abroad. But you can surely address and reduce the financial stress by opting for a student medical insurance plan. A student medical insurance is a health plan for students pursuing higher education abroad. It offers financial protection that arises due to health-related issues when living in a foreign country.

Now, let us understand a few policy benefits in detail.

Benefits Of Student Health Insurance

Some of the common benefits of student health insurance plans in India are as follows:

  • You can customise the student health insurance plan to fulfil your needs that are specific to the foreign university you have opted for.

  • The policy offers a wide range of top-quality medical facilities to students pursuing education in a foreign country.

  • You can take advantage of a vast network of hospitals, online policy extensions, and instant cashless claim settlements.

  • You do not have to go through a health check-up when applying for student health insurance.

  • You can opt for a 2-year student health insurance plan to secure the entire study period abroad with zero renewals.

  • You can easily renew the policy online for up to 3 more months in advance. That way, you no longer have to wait for policy expiration to renew it.

Features of Student Health Insurance

The following are the common features of student health insurance.

  • Extensive Coverage: You can get a high coverage limit of up to INR 1 lakh at a nominal price when buying student health insurance in India.

  • Hospitalisation Cover: Some insurers offer coverage for the pre- and post- hospitalisation expenses of up to INR 50,000 in case of accidents.

  • Education Cover: The education expenses in a foreign country are substantially high. In case the parent who is funding the education of the child passes away in an accident, the policy will cover the education expenses of the student.

  • Multiple Payment Option: You can pay your student health insurance premium quickly via multiple means. It includes online account transfer, UPI, Mobile Wallets, Credit Cards, Debit Cards, etc.

Student Health Insurance Inclusions

Here’s a list of things that are commonly covered under the student health insurance plan.

  • The policy covers pre- and post- hospitalisation expenses in case the student meets with an accident.

  • The policy covers accidental Out Patient Department (OPD) expenses as well. However, this facility is restricted to fractures, dislocation of bones, and contused lacerated wounds.

  • In case of the sudden dismissal of the earning parent (the one funding the child’s education abroad) due to an accident, the policy pays a substantial amount to the university. This ensures the continuity of education of the student.

Student Health Insurance Exclusions

Some standard student health insurance exclusions are as follows:

  • The policy does not cover the treatment cost of any pre-existing illness

  • Some student health insurance plans do not cover expenses for dental and vision impairment

  • Pre- and post- natal care is not included in the policy

  • Treatment cost for injuries arising due to involvement in sports is not covered in the policy

  • Self-inflicting injuries are not covered as well

  • Treatment for sexually transmitted diseases such as HIV/AIDS is not covered

How to Apply for Student Health Insurance

Applying for student health insurance is easy. Just follow these steps.

  1. Fill out the application form available on the insurer’s website

  2. Upload the requested documents

  3. Pay the premium amount online

  4. The policy will be issued to you instantly

How to Claim Student Health Insurance

To make a claim on your student health insurance is the same as that of a regular health insurance plan. Just follow these steps, and you are done.

  1. Register your claim with the insurer

  2. Upload the supporting documents/medical bills

  3. The insurer will assess your claim application

  4. A decision will be made and you can check the claim status online or contact your insurer for an update on the same

To Sum It Up!

A student health insurance plan comes in handy when tackling financial emergencies arising due to health concerns during your stay abroad. It minimises the financial risks faced by the students and ensures that they have a worry-free study trip.

Alternatively, you can also consider buying a student travel insurance plan that not only offers medical coverage but also provides travel related coverage. It is valid until your stay abroad and also extends coverage to your luggage, electronic gadgets, and passport, to name a few. 

You can browse through Bajaj Allianz Travel Insurance Plans at Finserv MARKETS. It offers benefits such as extensive coverage with over 10000+ network hospitals across the globe, hassle-free claim settlements, minimal paperwork, 24x7 on-call support, and so much more.

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