Advantages of Indian student insurance over International University insurance

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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 tick tick
Global Assistance TPA for Medical & Non Medical Assistance tick tick
Personal Liability tick tick
Sickness Dental Cover tick tick
Repatriation of Remains / Medical Evacuation tick tick
Inpatient Cashless Treatment tick tick
Mental & Nervous Disorders tick tick
Maternity Coverage tick tick
Cancer Screening & Mammography tick tick
Baggage Loss / Baggage Delay Passport Loss tick tick
Trip Cancellation / Delay tick tick
Other Travel Benefits – Flight Delay, Hijack, Missed Connection, Loss of Personal Effects etc tick tick
Sponsor Protection / Study Interruption tick tick
Sponsor Protection / Study Interruption tick tick
Bail Bond / Felonious Assault tick tick
Compassionate Visit tick tick
Loss of Laptop tick tick
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

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Student Travel Insurance
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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
  • 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
Policy Exclusions
  • 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

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