Are you looking to apply for studying in abroad or one of your relatives would like to continue their education in abroad?. If that is the case, you must read this article to know about the students insurance policy and why it is very important for the foreign education. Those who are applying for the education in abroad would go through the painful process to prepare the various documents and approval including the students visa. But, only very few would consider the importance of taking the students insurance policy to protect them from the unexpected expenses and the bad health condition while studying in abroad.
This article explores the importance of students insurance policy and why it needed for the students and the process to apply for it. If you are a parent of a student who want to apply for foreign education, please spend you time to learn the students insurance policy. If you have any doubts, please post it in the comments section. Subscribe to our future articles here.
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What is students insurance policy?
This policy combines the medical insurance and the travel insurance for the students traveling abroad for their higher education. This is a compulsory policy for the students to avoid any unexpected expenses while studying in the abroad. For example, if you are taking the medical help outside India, the cost would be very high compare to India. Not only that, if a student meet any accident or become disabled this insurance would help to recover from the losses. Apart from this, if you lose the passport or package while traveling, this policy would help him.
Another important note is that, medical insurance is must for many universities abroad. Most of the students who travel to abroad would know this fact only at the time of joining, this forces them to take policy in foreign soil which is very expensive. It would be good idea to search on the college’s website to find out whether the medical insurance is compulsory and what is the minimum coverage required for the eligibility. Otherwise they would reject the policy and forces you to take the another policy.
What is covered?
The following items are covered from the students insurance policy:
- Medical expenses
- Treatment of mental and nervous disorders
- Bail bond
- If you are done a crime which is bailable nature, this policy would help you to pay the bail amount.
- Return journey
- Loss of checked-in baggage
What is not covered?
The following expenses are not covered under this policy:
- Attempted suicide
- Injuries due to dangerous sports
- Expenses arising due to loss of valuables, money or securities.
- Traveling against the advice of the physician.
- If your health is not good for the travel and your doctor has advised not travel, then this policy would not incur any expenses arising out of your travel.
Cost of the students insurance policy
The cost of this policy would vary depend on the region. Normally the premium is expensive for the education in USA and Canada because their expensive health care products. The following are the premium collected by few leading insurance companies:
Summary
It is important for the students to know this policy and apply for it. When you are studying in abroad, the expenses would be very high and it is difficult for you to manage if your family is not wealthy. This policy doesn’t require any medical test, but few companies don’t accept for the pre-existing disease. Please ask insurer more details about the policy and buy if it suits your requirement. If you have any doubts, please post it in the comments section.
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January 5, 2012 at 6:17 am
Really infirmative article.
February 1, 2012 at 7:55 pm
We all know insurance (health and dental) is extremely important when you are living by yourself without family. However, you have to dig deep because in the U.S., insurance has become quite expensive.