Indian students are increasingly opting to study abroad. According to EducationUSA, the number of Indian students in the US rose 24.9% in 2015-16 compared to 2014-15. EducationUSA is a US Department of State network of international students advising centres in over 170 countries.
While these numbers are only for the US , they indicate that the number of Indian students going abroad is growing rapidly. “Over 50% of the students from India go to the US. The other major destinations are Germany, UK, Australia and New Zealand,” said Puneet Sahni, head, product development at SBI General Insurance. And all these students have to take medical insurance because all the major universities mandate it. For this, students can either get health insurance or a travel policy that provides medical cover in foreign countries. We take a look at some basics of travel insurance policies specifically aimed at students studying abroad.
Student insurance vs regular insurance
Mukesh Kumar, executive director, HDFC Ergo General Insurance Co. Ltd said that students’ overseas travel insurance plans provide coverage throughout the tenure of the education programme of the student. “Apart from covering accidents and medical treatment, the policy also covers loss of baggage, loss of passport and documents,” he added.
