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Going Abroad for studies? Buy your Student Insurance Online

Insurance I Opener - If you are an Indian student going abroad for your studies (USA / UK / Australia / New Zealand / Russia / Singapore / Japan), you must know the importance of health insurance. Student Medical Insurance is mandatory for all the universities worldwide, especially when you are an international student.

But the question is, whether you should buy it from your home country, or from the university itself? All universities, in association with local Insurer, offer Campus Mmedical Plan for their students (domestic / foreign). However, they also waive it if the international student could get any other insurance policy meeting its requirements.

Should one buy Student Insurance from India itself?

Actually, it does make sense when you buy insurance from India for a simple fact that it is far cheaper and you save precious Forex. Buying insurance in Indian rupees costs you approximately 1/5th of buying in Foreign Curriencies. You can choose an insurance policy that is university complaint and thus get the same or better benefits at a much lower price.

Moreover, most universities offer just the medical cover. But as you are staying in a completely different country all alone, it is wise to get covered for other non-medical risks also. These may include personal liability, luggage damage, passport loss, bail bond, Study interruption, Repatriation of remains, Sponsor protection etc.

Here are a certain things you need to keep in mind while buying your Student Health Insurance from India :

Ensure it is University Compliant.

Your University would give you a waiver only if the insurance policy is compliant with the university’s requirements. So be sure that all your insurance needs are compiled with. You may pick your choice ICICI Lombard / Bajaj Allianz or Tata-AIG Student Guard Insurance plans from India InsuranceMall. They are University Compliant insurance policies for over 500 universities worldwide. Sure, your School is one of them.

Protect yourself against non medical risks from India InsuranceMall

As mentioned before, most universities may require only medical coverage. But you should get covered for other non-medical risks also, as even if they are not mandatory, they are extremely important.

Check various plans offered by ICICI Lombard / Bajaj Allianz that gives you coverage against personal liability, luggage damage, passport loss, bail bond, Study interruption, Repatriation of remains, Sponsor protection and much more.

Always check out the third party tie-ups

You do not want to be stuck in a claim. To ensue a smooth claim in future, always check the Third Party Administrator tie up of the company you are buying insurance from. Check the hospital network of the area/ country you are going for studies.

Compare and Buy online

Always prefer buying your insurance online. It is not only convenient but is faster and safer. While buying it online, you are not dependent on anybody else and can check all the facts for yourself. Thus chances of frauds are less. Also, when you buy online, the digitally signed policy generated is a legal document and can be accessible online anytime, anywhere in the world.

What are the average costs of medical treatment abroad?

Please refer to the table for average costs of medical treatment abroad in the U.S. vis-a-vis India