Student Health Insurance in India – 10 Frequently Asked Questions

February 6, 2018

Looking forward to your studies in a foreign country? If yes, then you must be prepared to buy student health insurance policy. Here is a list of some of the most frequently asked questions about insurance plans bought for students. These highlight common apprehensions faced by parents and students while investing in a coverage policy and their solutions:

1. Am I eligible to buy Indian student medical insurance policies?

Any Indian national (registered student in a foreign university) is eligible to purchase student health insurance from India. When it comes to buying student plans, some insurance companies have limited the maximum eligible age limit of up to 35 years.

2. I am young and healthy. Why do I need insurance?

Since you are visiting foreign country as a student, your main focus should be on your education and career aims. There should be no burden from any external factors. Being in a foreign country may be an overwhelming experience wherein you do not want to get ill or incur heavy medical expenses. Buying a student health insurance will protect you from heavy medical bills. Plans bought in India are more affordable as compared to student insurance plans from a foreign country. Having a student medical insurance in hand ensures protection for any unforeseen emergency medical expenses incurred while staying abroad. Additionally, student insurance is needed as it is mandatory in many countries and universities.

3. What is the benefit of buying insurance from India?

There are a number of benefits you can enjoy by buying Indian student health insurance plans. You would get some additional coverage such as medical emergency evacuation, sponsorship protection, etc. These facilities are not available in foreign university insurance policies. Additionally, the Indian student medical insurance policies are cheaper as compared to university insurance plans. The insurance premium in Indian Rupees is certainly affordable that one bought in US Dollars.

4. Will my university accept the Indian student health insurance policy?

Yes, it will accept the policy in case it is not mandatory to buy its university insurance (as per the university law). In this case, the Indian insurance works as a substitute for the university insurance.

5. Can I get waiver from university insurance?

You need to fill in waiver form from the university. They will also ask you to provide with details of Indian insurance plan.

6. I am studying in a University abroad and have university insurance. Can I buy one from website of Indian insurer to show it to my university?

Yes. You need to fill a simple form “Student outside India” online. Once the insurance company approves it, you can buy insurance from the current date for number of days needed. In case, you are already insured, the company may also require the copy of that policy for approval.

7. Is it possible that I skip travel insurance and buy student health insurance?

A student insurance plan covers student’s health while studying overseas. Emergency sickness and accident medical expenses will also be covered.

8. When shall I expect my insurance documents?

Usually, the policy gets issued once you make the purchase on credit card/ debit card/ online banking. All applicable documents will get emailed as a PDF document. It is a valid legal insurance document. You simply need to take a print out of this document as a proof of insurance cover. It will also work as ID card which you may show to the university if needed.

9. What if my university does not accept the student insurance bought in India?

You may provide the rejection letter from university to the insurance company. The insurer will cancel the policy. Also it will provide 100% refund if the policy has not started. In case, the policy had already started, they will give a pro-rata refund.

10. How do I renew student insurance policy?

The renewal process is simple. You can renew it online through the website of insurer. The specific rules will vary from one insurer to another. For instance, some insurance companies allow you to purchase initially for a maximum of one year. You may renew it for another year. On the other hand, some companies allow the student to purchase for two years in the beginning.