Updated on Apr 29, 2021
After securing admission in your desired university, there are still a few things to be done before you leave. Most important of them is ‘Student Health Insurance’ Most study abroad programs will require you to participate in a student health insurance program or in a health benefit plan while you’re abroad.
Insurance is an arrangement by which a company undertakes to provide a guarantee of compensation for specified loss, damage, illness, or death in return for payment of a specified premium. Students going to foreign universities, opt for these two insurances -
Health insurance is mandatory for all students traveling to foreign universities. It covers most of the health issues that may affect the students during their stay.
Travel insurance is optional. It covers the journey from the home country to the foreign country and provides compensation for any kind of accident that may occur during that period.
Note: Don’t confuse the insurance on your loan amount with Health or Travel insurance.
Having a student health insurance is a requirement for studying in a foreign university. If you're enrolled in a student health plan, in most cases it counts as qualifying health coverage. This means you're considered covered under the health care law, and won't have to pay the penalty for not having insurance. Health insurance is different for students and working professionals and they should not be confused with each other.
When a student goes abroad for further studies, any kind of health problems or illnesses may occur which could result in additional unaccounted expenses. To take care of your health and support you financially, health insurances are designed to help you continue your studies without financial interruption. The cost of medical assistance in foreign countries is very high when one may have to visit a doctor, buy the prescribed medicines or get admitted to a hospital (in case of a major illness or accident). In such cases, it is beneficial to have a student health insurance which covers most of the medical costs.
How to claim your insurance amount:
There are a number of specific terms that are related to insurance. It is important for the policyholder to understand these terms correctly. Some of the most commonly used terms are:
Till then, wish you the best for the last leg of your MS application journey! Stay healthy, stay safe.
STUDY ABROAD GUIDE