Advantage of buying India student insurance, Sponsor protection, Coverage for Companion

Advantages of Indian student insurance

India has the second largest number of international students worldwide after China, sending around 200,000 students to different parts of the world to pursue their higher studies. Given that Indian students have always been academically inclined, the good quality of education abroad has always been an extremely exciting prospect for Indian students wanting to advance his or her academic and career prospects. Some of the factors that influence Indian students to explore overseas shores for higher education include:

Reputation of the Institute / University – this is normally through word of mouth and school/college seniors recommendations – the Ivy League institutions are a big draw.
Quality of Education and Exposure – Most colleges offer India students a wide range of options in terms of subjects to choose from. Flexible curriculum allows interested students to attend much more electives of their choice and preference. This is backed up by opportunities of working abroad with higher remunerations.
Peer Pressure – the Indian student still undergoes a lot of peer pressure in terms of class mates / parents wanting them to have a “foreign” degrees.
Better Career Opportunities in India when they return.

International Student Health insurance for Indian students is a comprehensive student insurance plan that all Indian 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). Currently as per data available, less than 15% of the Indian students going abroad are opting for the Indian insurance plans. 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.

The table below gives an illustration of how comparable and competitive the Indian Student health insurance plans. While both the Indian and International insurance plans do have comprehensive Accident & Sickness coverages, the key differences are Travel related benefits and the Student specific benefits (highlighted in green and blue below), which makes the Student medical Insurance plans from India very comprehensive.

Coverage	Indian Insurers	International Insurers
Accident & Sickness Medical Expense Coverage
Global Assistance TPA for Medical & Non Medical Assistance
Personal Liability
Sickness Dental Cover
Repatriation of Remains / Medical Evacuation
Inpatient Cashless Treatment
Mental & Nervous Disorders
Maternity Coverage
Cancer Screening & Mammography
Baggage Loss / Baggage Delay Passport Loss
Trip Cancellation / Delay
Other Travel Benefits – Flight Delay, Hijack, Missed Connection, Loss of Personal Effects etc
Sponsor Protection / Study Interruption
Sponsor Protection / Study Interruption
Bail Bond / Felonious Assault
Compassionate Visit
Loss of Laptop
Premium Payment	Upfront in ₹ INR	Upfront in $ USD / Other Foreign Currency
Illustrative Example for Plan Coverage - $250,000 + Duration is 365 days	Premium in ₹ INR 22,241 - 37,098	Premium in ₹ INR 56,070 - 84,000

Student insurance partners

Insurance Companies offering student medical insurance

Student Travel Insurance is an insurance policy specifically designed for students travelling abroad on student visa to pursue their higher studies. The policy covers students who are enrolling in colleges, universities or institutes in a foreign country for professional/other academic courses. There are coverages specific to students that include Sponsor Protection, Compassionate Visit , Bail Bond and Study Interruption.
Coverages Offered	Policy Exclusions
Emergency Accident & Sickness Reimbursement Medical Evacuation Repatriation of Remains Treatment of Mental Disorders Cancer Screening and Mammography Maternity Coverage Study Interruption Sponsor Protection Missed Connection Compassionate Visit (2 way) Emergency Cash Advance	Travelling against the advice of a Physician Pre-existing Conditions Serving in any branch of the Naval, Military or Air Forces Being under the influence due to usage/abuse of drugs, alcohol, or other intoxicants Ionising radiation or contamination by radioactivity from any nuclear fuel External congenital anomalies Adventure sports, skydiving/parachuting, hang gliding, bungee jumping, scuba diving, mountain climbing Ayurvedic, Homeopath or naturopathy treatments