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Why Student Travel Insurance is a Necessity?


Millions of students from India go abroad every year for higher studies and to create a foundation for a good career. Students choose prestigious institutes such as Harvard, MIT, Oxford or Cambridge for their higher studies. The highly developed countries like US or UK offer these courses from these elite universities.

Since these countries are highly advanced so is their standard of living which is very costly as compared to the third world countries. The treatment costs are also very high. The hospitals are equipped with the state-of-the-art facilities, but they also charge an exorbitant fees for stay in the hospital, the doctor’s fee, and medicines charges. In fact, the hospital charges 10 times the fees that is charged in India. For example, a kidney stone removal surgery that is done for 30 thousand rupees in India, costs approximately 5-6 lakh abroad.

Most of the students who travel to Europe or US for higher studies, either go there on scholarships or work part time to support their studies. This is because the fees in these universities are very high. Since they stay in these countries for a longer tenure, they are bound to get sick and possibly might need to be hospitalized. In this article, we list some of the key reasons why student travel insurance is mandatory.

5 Reasons Why Student Travel Insurance is Important

Travel Insurance is Mandatory – Now most of the countries in US and Europe as well as Schengen countries have made it mandatory to have travel Insurance while travelling since you never know when you might need the same.

Covers Repatriation Charges -Travel Insurance covers health treatment cost incurred while you are abroad. Other than medical treatment charges, travel insurance benefits include repatriation charges if the insured dies there. The insurance company would incur all the charges including coffins for the dead body, the air ticket and all the transportation charges.

Loss of Baggage – If the baggage is lost while travelling in flight the insurance company would cover the loss of baggage.

Loss of Passport – If the passport of the person is lost, then the insurance company would pay the charges related to the new passport issuance or a fixed amount is given.

Personal Accident Cover – If the person met with an accident there then the Insurance Company would also pay the charges related treatment as well the PTD and TTD benefits as well.

Want to know more about student insurance cover? A quick visit to our travel insurance page can help you find out more about it.

This article was authored by Dr Jagroop Singh, Assistant Manager, Investigation and Loss Mitigation-Health at Bajaj Allianz General Insurance Co. Ltd. 

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Published on:16 Jun, 2015

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