A lot of students are going abroad for higher education purposes. They know it well that their chances are much better for a lucrative job either in India or abroad if they procure a good qualification or training in a foreign country. However one must take adequate care and protect oneself from any eventuality that one may confront in a foreign land. To protect a student visiting a foreign country for study from the financial contingencies he or she may face during their stay there due to accident or hospitalization, Insurance companies have introduced Overseas Travel Insurance Policies (Study). Some companies have named it 'Overseas Mediclaim Insurance Policy for Students'.
Salient features of such policies are:
Eligibility
This policy is valid for Indian Citizens who are temporarily residing in the country of Study for the purpose of furthering their education or engaged in research project who are holding Visa for that purpose only.
One must understand the meaning of "covered injury and sickness". Covered injury means accidental bodily injury occurring to the insured person which is the direct and independent cause of the claim and it does not include any injury or complications arising from such injury which existed or for which treatment or medication was received prior to the effective date of the insurance. So is the case of sickness or disease contracted prior to taking the insurance.
Coverage / Plans
Policies introduced by various insurance companies have common basic coverage. Benefits under the Policy depend upon the Plans taken therein like Plan A, B or C or Plan Silver, Gold, or Platinum etc and the amount of premium paid.
Basic covers:
- Medical Expenses due to accident or diseases
-Medical Evacuation -Repatriation of Remains in case of death
-Dental Treatment
-Loss of checked in baggage
-Baggage Delay
-Personal Accident
-Personal Liability
-Plane Hijacking
-Medical Emergency Reunion Expenses
-Besides the basic covers, provision is made by insurance companies to take additional covers, on extra premium.
Premium Rating
Premium is charged on the basis of Plan selected
What are not covered under the Policy
• Pre-existing conditions except in case of life-threatening situations
• Addiction to alcohol, drugs
• Mental disorder, anxiety, depression
• Venereal diseases
• Sexually transmitted diseases, AIDS, HIV
• Radiation, nuclear weapons induced
• Sporting activities
• Expenses arising out of loss of valuables, money, securities and tickets
• Loss of passport in public places
(Particulars of cover liability and exclusion given above are not complete or exhaustive - may vary from insurer to insurer)
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