Explained: Travel insurance for students and why it is a must when going to study abroad


August 8. Healthcare expenses, especially in foreign countries like the US can be very expensive, and hence health insurance is crucial. Numerous universities in nations such as the United States, United Kingdom, and Canada mandate that students acquire health insurance from local providers, often in collaboration with the university. However, these insurance plans usually offer coverage exclusively for students while they are on the university campus or within the host country’s borders. This is where comprehensive travel insurance plans step in.

“When it comes to choosing between international student health insurance and travel insurance, a student travel insurance policy purchased in India is highly recommended. This policy combines health insurance and travel insurance, providing better coverage and benefits,” says Manas Kapoor, business head, travel insurance, Policybazaar.com.

This policy provides comprehensive coverage for various expenses during your stay abroad, including high medical costs for emergencies. It also covers delayed or lost baggage, trip cancellations, family visits, and other incidental expenses that could burden your finances.

“For instance, for a 1-year course in the US with a tuition fee of ₹10 lakh to ₹15 lakh, the travel insurance cost would range around ₹10,000 to ₹15,000, representing only 1-2% of the total cost of studies. This insurance ensures peace of mind and financial security while studying abroad,” says Kapoor.

Source: Business Insider


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