I am going to Canada for my Master’s Degree this year and buying health insurance from a local campus provider. Is it necessary to also buy student travel insurance from India? If yes, what should be the right cover amount? Should I consider buying any add-ons with my policy?

Shalini Pavithran

Studying abroad has become a widespread practice, especially among young students, but they should do it with meticulous financial planning. The soaring academic fees, cost of living abroad and adapting to a totally new environment are factors that underscore the importance of financial planning.

It is heartening that you’re planning to pursue your Master’s in Canada and that you understand the importance of insurance. It shows awareness and foresight on your part. Travel Insurance is crucial as it covers expenses that are beyond what your local campus health insurance provides. Local campus insurance providers sometimes do not offer medical coverage outside the campus. Therefore, it is crucial to review the limitations of campus insurance.

In addition to the campus coverage, it is advisable to consider student travel insurance for comprehensive protection. With medical inflation rising rapidly and touching 14 per cent, healthcare cost in Canada per capita can be close to $7,068. Hence, it becomes important to supplement your local campus health insurance with student travel insurance.

A comprehensive student travel insurance policy can cover any expenses arising out of medical or trip-related emergencies — such as trip cancellation, lost baggage or personal belongings. It also provides coverage for cashless hospitalisation, emergency evacuation and more.

However, this may not suffice for a student and hence consider certain add-ons for extra coverage over and above your travel insurance policy. These add-ons address specific risks and needs that students may encounter while studying abroad. They provide peace of mind and ensure that students can focus on their studies and experiences abroad without the worry of unexpected medical expenses or emergencies.

Medical coverage for inter-college sports injuries: If a student is participating in sports as part of academic and social activities abroad, this add-on helps cover costs of immediate medical attention for sports-related injuries.

Mental disorder: Living in a foreign land while pursuing higher education entails being away from family members, which may impact mental well-being. If a student experiences any mental illness or nervous disorders during his/her studies/period abroad, the treatment for the same will be covered under one’s student travel insurance with this add-on.

Adventure sports cover: This offers protection for injuries sustained during adventurous activities such as skiing, surfing or hiking — which students engage in while abroad; here, they are covered for accidents that may not be included under standard travel insurance, such as extreme sports or high-risk activities.

Physiotherapy: Cost of any necessary physiotherapy that you may require post an accident will be covered under your student travel insurance policy with this add-on.

Vision care: Abroad or not, studying can strain the eyes due to increased screen time. This add-on ensures that students can maintain good eye health and address any vision issues. It covers expenses related to vision problems and treatments, including routine eye exams, corrective lenses, or emergency eye care.

Maternity and newborn cover: Many students might settle abroad and start or expand their family there. This add-on ensures they receive adequate medical care during pregnancy, and for their newborn.

Life threatening and medical conditions arising out of PED: This add-on provides for medical emergencies related to pre-existing conditions (PEDs), which is crucial for students with ongoing medical needs. It ensures access to necessary treatments abroad and continuity of medical care.

Under the student travel insurance policy, additional add-ons for HIV/self-inflicted injuries, etc., are also available.

 The writer is Joint Group CEO, PB Fintech.

Send your queries to insurancequeries@thehindu.co.in 

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