Travel insurance is a precautionary measure taken by tourists to safeguard their financial interests while they are on tour. This tour can be local or international. In no way does a travel insurance policy prevent an unfortunate event from happening but it can prevent the monetary losses associated with that event. Therefore, purchasing a travel insurance policy is considered as an extra step taken for ‘peace of mind’ while you are on tour. This holds true, especially in the case of student travel insurance.
Parents are emotionally attached to their children. If students travelling abroad for studies face issues such as an accident, illness, etc., the ramifications are felt at home as well. The travel insurance industry has acknowledged this concern and offered a dedicated student travel insurance policy to insure Indian students travelling abroad for higher studies. Read ahead to know more about the difference between travel insurance and student travel insurance.
Travel Insurance vs Student Travel Insurance
Student travel insurance is a part of travel insurance. It is a specific policy, whereas a travel insurance policy is a generic one. A student can also avail the generic travel insurance plan. But why to go for something generic when there is a specific policy that provides extensive coverage for not much difference when it comes to the premium?
The primary reason one opts for a Student Travel Plan is to cover a huge number of uncertainties. And the specially-crafted Student Travel Plan does that. It has enhanced coverage in comparison with a generic travel policy. You also have an option to customize your plan with respect to trip duration and benefits.
Need for Student Travel Insurance
The premise of Student Travel Insurance is same as a generic Travel Insurance Plan. Medical cover, peace of mind, and support system in a foreign land in case of emergency. The need for a specific student plan exists because of the money and risks involved in sending a student abroad.
A travel plan might be purchased for a week by someone who is going for a vacation. Maybe, a month for an office trip. However, students stay abroad for a year or two for higher studies. The fees paid for such higher education are also sky-high. As the trip duration is more than a week-long vacation, the chances of uncertainties also increase. As a student is not an earning member, the family has to manage the medical expenses if their child falls ill in a foreign land. That is why, it is suggested to opt for a comprehensive Student Travel Plan.
Top coverages of a Student Travel Plan
This type of plan can be purchased by/for someone in the age bracket of 16 to 35 years. The duration of the policy is usually in the range of 30 days to 2 years.
- Emergency medical expenses
- Permanent disability
- Loss of passport
- Personal liability
- Compassion visit
- Study interruption
- Sponsor protection
- Bail bond
Insurance companies might have different names for coverages, and might offer combinations of coverages under a policy as well. The best way to go about this is to go through the student travel policy document. If your doubts are still not cleared, feel free to call up the insurance company for further clarification.
Compare Travel Insurance
Nowadays, it has become extremely easy to not just compare travel insurance online but go ahead and buy it as well. You can check the insurance company’s online reviews or speak to a friend or a relative who has purchased such a policy from the insurer in the past to get a first-hand opinion about the company’s services.
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