Students from India are making a beeline for foreign universities to pursue post graduate programs. According to a survey conducted by Indian Institute of Management, Bengaluru (IIM-B), the number of Indian students going abroad went up almost two and half times between 2000 and 2009. Besides good job prospects, rising income levels and limited capacities of Indian universities to provide education of international quality have been the primary reasons for students flocking their way to foreign universities. You might also be the one among them. However, going abroad for studies is easier said than done. The process starts with shortlisting universities. You might do everything right; i.e. apply to right universities, may even secure an education loan and get all the formalities (including Visa) done successfully. But there is always a possibility that you may miss, insurance, an important aspect of planning. Travel Insurance should be on your “must do” list while you plan to go abroad for any reason including studies.

Student Insurance
Cost of healthcare can be usurious especially in countries such as United States and your entire planning may go out of whack if you don’t have adequate insurance. These days, Insurance companies provide tailor-made student insurance policies. Student insurance policy is a variation in plain vanilla travel insurance policy with some added unique features. Knowing the importance of healthcare; universities are increasingly covering their students with health insurance. They include premium charges in the annual fee. A few of such universities give an option to opt for a waiver if you have already bought insurance and provided they or their affiliated health insurance providers are of the opinion that the cover is adequate. But not all universities necessarily offer you this option. On the other hand, many universities leave the decision of selecting insurance provider to students although they insist on buying a cover atleast worth amount stipulated as minimum.

Irrespective of whether your university provides you a health cover; it is always beneficial to opt for student insurance cover before you leave India. Here’s why…
 

• Student insurance policy is a comprehensive policy; i.e. it not only does protect you against healthcare expenses but also offers many additional benefits which an international health insurance policy may not offer.
   
• Along with medical coverage, a student insurance policy covers other risks such as sports injuries, mental or nervous disorder, cancer, pregnancy, child care benefits, study interruption, drug abuse, alcoholism to name a few. Some student insurance policies also provide bail bond that protects students if arrested or detained by police for a bailable offence during their stay in foreign countries.
   
• In many cases, universities provide insurance cover to their students only when the session is underway. That means, during vacations or breaks you may not be covered. This is when the student insurance policy may come handy
   
• Moreover, cover provided by your university comes into effect only when your program commences. Student insurance policies, in most cases, cover you for events such as loss of passport during travel or loss of baggage among others. This ensures that you are covered from the moment you fly
   
• Buying Student insurance in India might prove to be cost effective
   

Buying a student insurance policy will protect you against financial losses arising due to happening of any untoward event while you are abroad for pursuing studies.

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