Indian student medical insurance policies for overseas college education – An overview
Indian students registered in foreign universities should buy the student travel medical insurance commonly known as student health insurance while studying in a foreign university. Student health insurance is mandatory in most international universities, however even if it is not mandatory, student health insurance is very strongly recommended while studying abroad given the high costs of healthcare overseas.
Many universities have their own student health insurance plans that is offered along with other education expenses. However the cost of these university plans are very high when compared to the Indian student insurance plans which are priced in Indian rupees. Some international universities do accept Indian student health insurance plans. The usual procedure is that the student is given "insurance wavier form" which the student is required to have completed by the Indian insurance provider. He/She should then submit the completed wavier form to the university. Once the student submits the wavier form, the university will verify this with their requirements and approve the Indian student health insurance as an alternative to the university plan. In case the university rejects the wavier form for non-fulfillment of eligible criteria, then the student can cancel his / her insurance purchased from the Indian insurance provider by providing the university rejection letter and he / she will get the pro-rata (refund for unused policy period) refund.
If the student is unsure whether the university will accept the Indian insurance plans, he/she can buy the student travel medical insurance for a short duration say just for one month and after getting approval from the university for using the Indian student plan, extend the policy for the duration of his/her education in the college.
The eligibility requirements to satisfy wavier from the university insurance varies from one university to another. There are a few common policy benefits like policy maximum for medical expenses, medical evacuation, medical repatriation, deductible, cover for pre-existing diseases, doctor visits …. Some of other benefits might be cover for maternity, alcohol and drug abuse, HIV, mental and nervous disorder coverage, emergency dental pain, cover for sports. Indian student health insurance plans are designed to cover the above listed coverage benefits.