International student travel insurance - More important than you imagine
Living and studying abroad can become financially challenging. Let student travel insurance take care of financial hassles in case of an emergency.
Your child’s dreams are important to you, and hence, when your child declares a desire to study or travel abroad, you want to make it happen. You start putting together your finances for your child’s foreign stay, your child starts applying to foreign universities and together you work out the documentation process. Soon, it is time for your beloved offspring to fly out from the nest…
But wait – have you undertaken the most important duty as a parent? Did you purchase international travel insurance for your child?
Why your child needs travel insurance
Student travel insurance is the most important entity accompanying your child on his visit to foreign shores. It is a safety net cast around him at all times, safeguarding him (and you) from the financial shocks of emergencies in a strange country. It doubles up as health as well as travel insurance and is mandated for students travelling to the US, Europe and Australia.
Many foreign universities also provide student insurance but this is normally applicable only for students living on the campus and provides basic medical coverage only. A separate international travel insurance policy will ensure that your child’s health and safety of person and belongings are provided at all times.
Medical aid and hospitalisation are extremely expensive abroad, and most health centres do not admit patients who do not have insurance. If your child falls ill while abroad, the travel insurance can pay for immediate hospitalisation. Further, it pays for the family’s emergency visit to the foreign country if the student is hospitalised, or pays for the student to be brought back to his home country for treatment.
The insurance cover will also pay for loss of belongings arising from theft, luggage misplaced by airlines or left behind in public transport, and provide coverage for personal liabilities arising out of inadvertently breaking the law in a foreign land.
As far as actual education is concerned, the student travel insurance reimburses the child’s tuition fees in case he is forced to discontinue further studies for a valid reason. Further, it may also pay the tuition fees of those students who have a sponsor abroad, and when the sponsor passes away or is unable to sponsor the education for a valid reason.
It is prudent to buy the international travel insurance for your child in India because the premiums are low and most good student travel insurance policies in India offer the advantages of health and travel coverage.