Mr Rakesh Jain CEO, Reliance General Insurance
Credit: Special Arrangement
Studying abroad is a life-changing experience, opening doors to new cultures, diverse perspectives, and academic growth. However, embarking on this journey also comes with its challenges and risks. Amid the excitement of obtaining visas, securing accommodations, and packing for a new adventure, many students overlook one critical aspect—travel insurance. As an international student, a comprehensive travel insurance plan is not just a formality but an essential part of your overseas study plan. Here’s why it’s crucial to secure travel insurance before you set foot in a foreign country.
Protection against medical emergencies
Medical treatment abroad can be expensive. In countries like the United States, Canada, and Australia, healthcare costs are significantly higher compared to many other parts of the world. An illness or injury could result in steep medical bills for international students, potentially disrupting their academic plans. A solid travel insurance plan ensures medical coverage, whether for a simple doctor’s visit or a more severe emergency requiring hospitalisation or surgery. Some plans even cover medical evacuation, which can be a lifesaver in extreme situations.
Coverage for lost baggage & belongings
When moving to a foreign country, students often carry valuable items, including laptops, mobile phones, and important documents like visas and passports. Losing luggage or personal belongings during travel can be highly stressful and costly. With travel insurance, one can recover some of the losses from misplaced or stolen baggage, providing financial reimbursement and peace of mind. This way, they can replace essential items without undue financial burden.
Trip cancellations/interruptions
Unexpected events like flight cancellations, delays, or trip interruptions due to personal emergencies or natural disasters can lead to unforeseen expenses. With travel insurance, one might reverse the loss of money on non-refundable flights, accommodations, or pre-booked experiences. A good insurance policy covers these financial losses.
Personal liability protection
Accidents can happen, and as a student, you could find yourself in a situation where you are responsible for damages or injuries to another person. This could range from a minor incident like accidentally damaging someone’s property to a more severe personal injury case. Travel insurance often includes personal liability coverage, protecting you from potential legal and financial consequences that may arise.
Tuition fee coverage due to sponsor loss
Some students studying abroad rely on financial sponsorship from parents or guardians. In the unfortunate event that a sponsor becomes incapacitated or passes away, certain travel insurance policies provide coverage for outstanding tuition fees. This safeguard ensures that students’ education isn’t abruptly halted due to financial disruptions at home, allowing them to complete their studies with minimal stress.
Support for mental health services
Adjusting to life in a new country can be overwhelming. Many international students struggle with homesickness, academic pressure, and cultural differences, leading to mental health challenges. Some travel insurance plans now include coverage for mental health consultations and treatments, ensuring students can access professional support when needed. This added benefit allows students to prioritise their emotional well-being alongside their academic pursuits.
International students’ excitement about studying abroad should be balanced with practical preparations. Travel insurance is one such preparation that should not be overlooked. While it may seem like an additional expense, travel insurance is a small price to pay for the security it offers.