The Nuts And Bolts Of Student Travel Insurance

The Nuts And Bolts Of Student Travel Insurance


Students from India are constantly travelling abroad for studies. If you are one of them, like all you may face risk of unforeseen events like theft of possessions, hospitalization, personal accident, etc. Such eventualities not only cause a break in your studies but seriously damage your precious finances.

To meet such threats, you have the facility of international student travel insurance. Student insurance helps you tide over emergencies with physical, financial and medical help.

Student travel insurance is not mandatory in most countries. It is determined by the University that you have opted for studying in. While most universities may allow your own policy, some deem it necessary for you to accept the policy offered by them.

Students have access to what are called as deductibles. Deductible is a cost sharing arrangement under a travel insurance policy. It deems that an insurer will not be responsible for a specified monetary amount or for a particular number of days. A deductible does not reduce the insured amount. It is important as it makes you a co-owner of the policy by taking responsibility for a portion of loss by yourself.

Most student travel insurances are available for the age bracket- 16 to 35 years. You can also use the services of an EASP. EASP is an Emergency Assistance Service Provider, which an agency is deemed by the insurance agency to provide service to the insured person for any claim on an event that is insured.

Every individual is eligible only for a single travel insurance policy during his sojourn. You can extend your policy by making an online request. You will get a detailed response with information on procedure as well as new premium amount. The policy can be extended for a fixed time period like two years. The sum insured cannot be increased.

The policy can be cancelled by making a request by fax or e-mail. The cancellation request must reach the insurance company within a time period specified by it. If you want to cancel, you must submit a copy of all 40 pages of your passport to give evidence that you have not undertaken the journey abroad. You may have to pay a cancellation charge and the rest of the amount will be refunded.

The student travel insurance policy is a comprehensive insurance policy designed for ensuring financial security of students, especially in case of emergency. This insurance policy will ensure a trouble-free stay for the student in his/her university abroad.

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