Health Insurance for Students Studying Abroad
Table of Contents
- Importance Of Health Insurance For Students Abroad
- Benefits of Having Student Health Insurance While Studying Abroad
- Types of Health Insurance Plans for Students Abroad
- How To Choose Health Insurance For Studying Abroad
- Understanding Policy Inclusions and Exclusions
- FAQ’s About Overseas Student Health Insurance
Health Insurance covers the whole or a part of the medical expenses that occur in a person’s life. These expenses can be hospitalization costs, Consultation fees and medicine costs. It is defined as the coverage that provides for the payments of benefits due to sickness or injury.
For students, who intend to go to foreign countries to pursue further education, health insurance is compulsory.
Importance Of Health Insurance For Students Abroad
Health Insurance for the section of study-abroad students is a type of travel insurance that specifically caters to the medical needs of students studying in a foreign country. It covers various medical expenses that include doctor’s visit fee, in-hospitalisation, prescription drugs, emergency treatment, mental, oro dental, and vision health. It is necessary to scrutinise and compare the different plans carefully before choosing one based on finances and the medical benefits offered.
Benefits of Having Student Health Insurance While Studying Abroad
Following bullets highlight features stating the importance of students study-abroad health insurance:
- Financial Buffer: Health insurance plans provides coverage for medical bills and reduces the financial burden on you and your family for the medical expenses in a foreign country. Moreover, exorbitant and unexpected healthcare costs can disrupt your budget
- Premium Healthcare Facilities: Healthcare insurance smoothes your access to quality healthcare facilities and medical services in your host country. It insures you against medical illness or injury while studying offshore
- Peace of Mind: Studying abroad can be a rewarding and dream experience, and if you are travelling for the same purpose abroad, then equipping yourself with health insurance gives you peace of mind, knowing that you are prepared for any healthcare challenges that may arise
- Visa Requirements: In many countries, health insurance is a mandatory requirement to obtain your student visa. Having a well insured health plan is essential to qualify for visa norms and ensures a smooth visa application process
Types of Health Insurance Plans for Students Abroad
Private Insurance
- Many Indian and international private health insurance companies offer you health care coverage plans to choose from an array of options. Depending on which country you are visiting to study, you may choose the best curated student specific insurance policy. Payments for the same are processed as a monthly or annual fee
Government Approved Insurance
- Few countries offer you Government authorised students’ health insurance plans for which international students need to pay a surcharge or buy the healthcare policy. Below given are 3 ways by which this surcharge is paid as fees to insure a student against medical bills abroad:
- One of examples is country like UK, where you pay a healthcare surcharge as part of the visa application process
- Provincial or state-issued medical insurance, for which you can apply directly to the state body; eg. Canada
- International students may opt for specific government-mandated medical insurance plan via registered health insurer in country like Australia
How To Choose Health Insurance For Studying Abroad
Following are the factors which must be carefully observed by an travelling student who wishes to pursue further studies abroad:
- Type of Coverage: Most policies must offer to cover consultations with the medical practitioner, diagnostic tests, major treatments, surgeries, and post illness recovery expenses
- Government Authorisation: If your healthcare policy is government mandated, such as OSHC in Australia; you must ensure your plan has government approval
- Effective Cost: Since, global economic inflation has affected the whole world negatively, even medical and healthcare expenses end up being far more costly than the cost of insurance itself. It is economically wise to purchase the most comprehensive plan you can afford, and budget for any future hike in premiums
- Restricting Conditions: In case of the insured student having pre existing illnesses; transnational travel undertaken by the student; state or provincial health insurance purchased by the student intending to travel to some other city the insurance provider might limit your cover benefits
- Time Duration: Students should assess the total time period of their policy’s duration and whether it will cover the full course of their programme
- Reliability: Seeking out a trusted, reputable health insurance company through networking is crucial before selecting your student- benefiting health plan
- Deductibles And Out-Of-Pocket Maximum Amount: The deductibles are the sum that a student pays before the insurance company covers their medical expenses. The out-of-pocket maximum is the max aggregate that the student will pay for his/her medical expenses in an annual year
Best Health Insurance Plans For Students Studying Abroad
|
Health Insurance Company |
Plan Name |
Age Limit |
|
Future Student Suraksha Plan |
12-40 years |
|
|
Student Explore Plan |
12-40 years |
|
|
HDFC Ergo Student Suraksha |
16-35 years |
1. Future Student Suraksha Plan
Besides covering travel insurance expenses for accident & illness, emergency evacuation and repatriation of mortal remains; accidental death & permanent total disability; dental expenses; personal liability; loss and delay of baggage during check-in; the plan also offers coverages including tuition fee, compassionate visit (round trip), sponsor protection, criminal assault and bail surety for the insured students
2. Student Explore Plan
The Student Explore health plan is designed to cover expenses related to emergency hospitalisation, pre existing ailments, medical evacuation, loss of passport and checked-in baggage, loss of international driving licence and tuition fee in the event of any discontinuity/interruption in study programme
3. HDFC Ergo Student Suraksha
The well covered and comprehensive HDFC Ergo Student Suraksha plan compensates for expenses pertaining to student accident claim; medical illnesses; loss/delay of checked baggage; emergency dental treatment; passport loss; emergency evacuation and repatriation of remains in case of death; personal injury/death; disability owing to accidents; tuition fee, compassionate visit (round trip), sponsor protection, felonious assault cover and bail bond; treatment of mental and nervous disorders, and even benefits related to pregnant mothers
Understanding Policy Inclusions and Exclusions
Inclusion
Student health insurance policy’s inclusion terms should ascertain if the plan provides coverage for the medical expenses that are likely to occur including in-hospitalisation, pre-hospitalisation, and post-hospitalisation treatment; prescription drugs; diagnostic tests; doctor's visits; daycare procedures; domiciliary treatment for around 30 days; cover for ambulance services; maternity and dental procedures
Exclusions
Inclusion clauses under the student health insurance plan generally exempt pre-existing diseases/disorders which the student is suffering from; alternative treatment modalities like AYUSH, Acupuncture, etc; detox and rejuvenation services; cosmetic/plastic surgery; self-inflicted harm/suicide attempt and overseas medical expenses unless the policy has an international coverage extension
Read more: Travel Insurance: Coverage for the Unexpected
Health Insurance Facts for Students Travelling Abroad to Study!
Travel Insurance & Its Significance
Conclusion
The student can rest assured in matters related to their insurance policy as all the formalities are fulfilled, and the policy would be in effect, and the student’s life is now insured. Thus, any student who desires to go abroad for pursuing their education can easily avail an insurance policy.
FAQ’s About Overseas Student Health Insurance
Q1. What is the most important factor in selecting your best health insurance for international students?
Ans. The most decisive factor when buying a study-abroad health insurance is getting a well covered plan at an economical budget. Though there is no one-size-fits-all response to this question however, market experts have always guided students to research, assess, and analyse reputable insurance providers near your educational destination to compare various policies before selecting one.
Q2. What is travel insurance for students studying abroad?
Ans. Many students migrate to offshore international places to study every year. So, a travel insurance plan that is designed to meet their medical requirements and exigencies while they are studying in a foreign country becomes handy while being cost-friendly. Such comprehensive plans not just generally cover the medical expenses but extend the coverage benefits to trip cancellation, repatriation, luggage loss, theft or damage to personal belongings.
However, the exemption clauses listed in a travel health insurance plan offered to the international students have to be duly scrutinised before purchasing the most cost effective policy.
Q3. Can Indian health insurance be used abroad?
Ans. Indian health insurance policies do not typically cover any health treatment which you receive while residing abroad. However, if your student tailored health insurance policy provides international cover, then its limitation clauses should be carefully checked for the number of days you are insured while staying outside of India.
Disclaimer: This article is issued in general public interest and meant for general information purposes only. Readers are advised not to rely on the contents of the article as conclusive in nature and should research further or consult an expert in this regard.
