Pune: The increase in medical care costs, visas revocation and travel interruptions have raised problems for students who study abroad or for those who plan to follow education abroad.Insurance companies are offering customary student travel policies to meet evolution needs. While some insurers allow students to choose a variety of additional benefits and covers depending on their needs, others provide accommodation expenses and return travel costs if the insured is advised that the authorities suddenly leave where they are studying.Radichika Saran (22), who studies in Ireland, opted for a Indian student travel insurance policy last year, and was very helpful for her. “My medical expenses were all covered, and the agreement was perfect. My policy is much cheaper than global insurance available here. I bought a flexible policy and also selected accessories such as access to the emergency fund, “he said.The demand for student insurance policies has seen a substantial increase during the past year, synchronized with the growing number of Indian students who go abroad. The United States and Canada continue to dominate as main destinations, but we have also seen an exponential growth in the demand of countries such as the United Kingdom and parts of Europe, particularly Germany, said Meet Kapadia, head of travel insurance at Pollybazaar.On average, Indian policies cost approximately one third of what plans sponsored by the University abroad could collect. For example, an insured policy of sum of $ 100,000 for two years could cost around RS 33,000 in India, while similar plans provided abroad can easily exceed RS 3 Lakh annually, insurers said. “In Policybazaar, we have seen more and more students and their parents choosing plans with coverage between $ 100,000 and $ 500,000, and in some cases, even up to $ 1 million.This is a clear change of previous years when the students made up of minimal mandatory coverage, “Kapadia said.AASHISH Sethi, Head-Agent, Health Distribution & Travel Channel, Bajaj Allianz General Insurance, said: “Many students look for more comprehensive plans that provide extensive medical coverage, protection against travel cancellations and emergency evacuation services. Usually, students select coverage plans with an insured sum between 1 and 2 LAKH. However, when students take loans for their education, many loan suppliers recommend opting for plans with a greater insured sum, “he said.The student insurance policy of students of ICICI Lombard Globetro de Icici Lombard offers flexible plans adapted to the needs of the students. Multiple plans variants are available with different coverage, said Priya Despmukh, Head Health Products, Operations & Services, Icici Lombard. “Students can obtain additional covers such as maternity, cancer detection, alcoholism treatment and drug dependence, and medical coverage for injuries between schools in ‘Plus’ plans,” he said.Despite the economic benefits, students hesitate to take Indian policies and opt for foreign policies as universities suggest or demand. Nikhil Jain, founder of Foreign admits, an education consultant abroad, said that choosing insurance and coverage depends on the country. “To study in the USA., Students are opting for insurance policies that provide visa revocation support and job loss support. Students also actively seek assistance covers that are useful in case there is a cancellation of visas, etc.Indian insurers find it very difficult to compare with world rivals in terms of their offers and support, “Jain said.Dilip Oak, founder of Dilip Oak’s Academy, said he recommends students to take a travel policy abroad from 3 to 4 weeks and then associate with their university of election. “We work with many students who go to the United States, and if they take a policy that their university recommends, then the agreement is also easy. Indian insurers are offering all kinds of discounts to attract students,” he said.Pune: The increase in medical care costs, visas revocation and travel interruptions have raised problems for students who study abroad or for those who plan to follow education abroad.Insurance companies are offering customary student travel policies to meet evolution needs. While some insurers allow students to choose a variety of additional benefits and covers depending on their needs, others provide accommodation expenses and return travel costs if the insured is advised that the authorities suddenly leave where they are studying.Radichika Saran (22), who studies in Ireland, opted for a Indian student travel insurance policy last year, and was very helpful for her. “My medical expenses were all covered, and the agreement was perfect. My policy is much cheaper than global insurance available here. I bought a flexible policy and also selected accessories such as access to the emergency fund, “he said.The demand for student insurance policies has seen a substantial increase during the past year, synchronized with the growing number of Indian students who go abroad. The United States and Canada continue to dominate as main destinations, but we have also seen an exponential growth in the demand of countries such as the United Kingdom and parts of Europe, particularly Germany, said Meet Kapadia, head of travel insurance at Pollybazaar.On average, Indian policies cost approximately one third of what plans sponsored by the University abroad could collect. For example, an insured policy of sum of $ 100,000 for two years could cost around RS 33,000 in India, while similar plans provided abroad can easily exceed RS 3 Lakh annually, insurers said. “In Policybazaar, we have seen more and more students and their parents choosing plans with coverage between $ 100,000 and $ 500,000, and in some cases, even up to $ 1 million.This is a clear change of previous years when the students made up of minimal mandatory coverage, “Kapadia said.AASHISH Sethi, Head-Agent, Health Distribution & Travel Channel, Bajaj Allianz General Insurance, said: “Many students look for more comprehensive plans that provide extensive medical coverage, protection against travel cancellations and emergency evacuation services. Usually, students select coverage plans with an insured sum between 1 and 2 LAKH. However, when students take loans for their education, many loan suppliers recommend opting for plans with a greater insured sum, “he said.The student insurance policy of students of ICICI Lombard Globetro de Icici Lombard offers flexible plans adapted to the needs of the students. Multiple plans variants are available with different coverage, said Priya Despmukh, Head Health Products, Operations & Services, Icici Lombard. “Students can obtain additional covers such as maternity, cancer detection, alcoholism treatment and drug dependence, and medical coverage for injuries between schools in ‘Plus’ plans,” he said.Despite the economic benefits, students hesitate to take Indian policies and opt for foreign policies as universities suggest or demand. Nikhil Jain, founder of Foreign admits, an education consultant abroad, said that choosing insurance and coverage depends on the country. “To study in the USA., Students are opting for insurance policies that provide visa revocation support and job loss support. Students also actively seek assistance covers that are useful in case there is a cancellation of visas, etc.Indian insurers find it very difficult to compare with world rivals in terms of their offers and support, “Jain said.Dilip Oak, founder of Dilip Oak’s Academy, said he recommends students to take a travel policy abroad from 3 to 4 weeks and then associate with their university of election. “We work with many students who go to the United States, and if they take a policy that their university recommends, then the agreement is also easy. Indian insurers are offering all kinds of discounts to attract students,” he said.
(Tagstotranslate) Pune News (T) Puno Latest News (T) Pune News Live (T) Pune News Today (T) Today News Pune Pune (T) Student Student Travel Insurance (T) Health for students abroad
