India Student Insurance

Yes, student health insurance is necessary for all students planning on pursuing their studies abroad. This is mandatory irrespective of which College/University the student is joining anywhere in the world. Apart from the fact that student health insurance is mandatory, it is advisable for the student to protect themselves financially from any unexpected exigencies (both medical and non medical) that can occur while they are abroad. Under the Medical cover, the student is protected against Accident & Sickness expenses, Personal Accident, Medical Evacuation and Repatriation while Non Medical coverages include Maternity Coverage, Study Interruption, Compassionate Visit, Sponsor Protection, Cancer Screening & Mammography etc. Since the students are anyways spending a reasonably high sum of their parent’s money (either savings or through educational loans), it is prudent to spend 3-4% more and protect themselves against any untoward incident. Being insured also allows the student to remain stress free and focus on their studies.

International Student Health insurance is a comprehensive student insurance plan that all students should have in place before they travel abroad to pursue their higher education. The coverage should have a stipulated coverage for Accident & Sickness Expense cover and some other mandatory benefit coverages in place. While currently most India students are opting for purchasing these policies from their respective Colleges/Universities, the Indian insurance companies also offer comprehensive insurance plans with benefits that match the College/University requirements (and sometimes exceed the same). Students are expected to have coverages for Accident & Sickness, Sponsor Protection, Cancer Screening, Maternity, Mental & Nervous Disorders, Personal Liability etc and most Indian insurance plans offer the same. The Indian insurance plans while being comparable on benefits are also extremely competitively priced with the premium being relatively lower than the premiums offered under the College/University plans. The Indian student health plans also offer cashless treatment for inpatient sickness and accident coverage.

Some of the unique coverages include:

• Study Interruption - In the event of hospitalization of the insured person for more than one consecutive month from a covered Injury or Sickness or in the case of Terminal Sickness or in the case of the death of an immediate family member, which prohibits the Insured Person from continuing his/her studies for the remaining part of a school semester for which Tuition has been paid, the Company shall reimburse the Insured Person the Tuition fees which has already been advanced to the educational institution, up to the amount stated in the Policy Schedule
• For example if an insured student has already paid the study fees of $50,000 but unfortunately is unable to continue their education because of the death of a family member half way through the semester, then the insurance company will refund the unutilised part of the fees, half of the fees paid, which is $25,000 – this is subject to the policy of the University to arrive at the unutilised part of the fees that can be refunded
• Sponsor Protection - The Term “Sponsor” is any individual responsible for paying the Tuition fees of the student of his full-time study in a registered educational institution outside of his home country. In the event of injury to the Insured student’s Sponsor (as stated in the Enrolment Form of the University) resulting in Death or Permanent Disablement, the Insurance company shall reimburse the insured student the Tuition Fee incurred for the remaining period of this education upto the maximum limit stated in the Schedule of benefits.
• An insured person cannot claim under Study interruption and Sponsor Protection for the same event.
• Compassion Visit (2 way) - In the event the Insured Student is Hospitalized for more than Seven (7) consecutive days, and his medical condition forbids his evacuation (and no adult member of his immediate family is present), the Assistance Company , will provide a round trip economy class air ticket, or first class railway ticket, to allow the Immediate Family Member be at his bedside for the duration of his stay in the hospital. Additionally, the company will refund for the costs of the stay, of the immediate family member, upto the amount stated in the policy schedule. Similarly, in the event of death, or hospitalisation of the Insured student’s parent(s), spouse/child for more than Seven (7) consecutive days due to injury or sickness, the Assistance Company ,will provide a round trip economy class air ticket, or first class railway ticket, to allow the Insured student to be at his bedside of his parent’s)/spouse/child, upto the amount stated in the policy schedule.
• Bail Bond - The insurance company will pay bail bond costs incurred by the Insured student, as a result of false arrest or wrongful detention by any government or foreign power up to the amount stated in the Policy Schedule.

Yes, off course all International students need to have a health insurance plan in place for two reasons : i) the University/Colleges insist on a mandatory insurance coverage during the duration of the study and ii) it is advisable that the student remains protected against any unexpected emergency and having an insurance cover becomes critical. But it is important for the student to have adequate protection not only from Medical emergencies like Accident & Sickness (A&S) but also Non Medical emergencies and this is where the Indian Student Health Insurance plans come in. Today apart from A&S coverage, the Indian Insurance plans also offer coverage for Loss of Passport, Baggage Delay/Loss, Sponsor Protection, Study Interruption, Maternity Coverage, Cover for Mental & Nervous Disorders, Compassionate Visit etc. These non-medical coverages are also relevant to a student venturing abroad for the first time for their studies. Hence it is strongly suggested that the Indian students/parents review the Indian Student Health insurance plans before making a final decision.