How to Choose the Best Insurance Plan

Students going to International destinations for study purpose should consider taking
Insurance plan even if it is not mandated by the destination Country or University.
There are a variety of Insurance plans that a student can take depending upon various
factors. On the basis of these factors students can choose from following type of Insurance
plans: –

  1. International Student Travel Insurance
  2. International Student Health Insurance
  3. Dental and Vision Insurance
  4. Overseas Medical and Travel Insurance

These types of plans are generally offered by Indian as well as International or country
specific Insurance companies. As there are lot of options for the international students to
choose from, they should be very clear, in which Insurance plan they should enrol
themselves.

Factors to decide upon the best suited Insurance plan

Due to the presence of many options to choose from, students should consider choosing
insurance plans on the basis of following factors: –

Destination Country’s Insurance laws

Different countries have different rules and laws for International Student Insurance. Some
country’s may require a foreign student to get a comprehensive health plus travel plan.
Some may require them to buy only a travel insurance or dental and vision insurance along
with that.
Some countries make Insurance as part of the study visa requirements and some country
may require student to take Insurance before the arrival.
For example, students going to Germany has to get enrolled themselves in 3 months Travel
Insurance as part of Visa application requirement.

Destination University’s Insurance requirements

University’s of some countries require international students to have Health Insurance
either from the University itself or from any external provider that fulfils University’s
requirements.
For example, Universities in the U.S. require each of the International student to enrol
themselves into Health Insurance. Non-fulfilment of this requirement might violate a
student to sit for classes.
Almost all Universities offer sponsored Insurance as part of the admission policy. So,
students either can opt for the university offered Insurance or they can opt for plan from an
external Insurance provider which fulfil some criteria laid down by the University. Students
have to opt for the external insurance plan and notify the University to waive the University
sponsored Insurance through a process of waiver application which has to be done before a
certain deadline. Failing the same would result in automatic enrolment of the student in the
school sponsored insurance plan.

Some of the standard University insurance waiver requirement are: –

i. Plan with a certain maximum coverage which ranges from $50,000 to unlimited maximum
benefit
ii. Plan should be ACA compliant which implies certain inclusion such as: Preventive care,
certain limit for Out-of pocket maximum, Unlimited coverage among others.
iii. Plan should include particular coverage such as: Pre-existing, Maternity, Substance
abuse, Medical evacuation, Repatriation of remains, etc.
iv. Plan should not be a travel plan or a reimbursable type of plan
v. Plan should cover the student in the local city area surrounding the University campus

Student personal medical or travel requirements

Although students have to take insurance according to destination country’s or admitted
University’s requirements, they must fulfil their personal requirements as well. So, it is fine
when the insurance plan they are taking according to country’s and University’s
requirement, is fulfilling their personal medical or travel requirements. However, in cases
when teir current insurance plan is not fulfilling their personal requirements they might
have to look for additional insurance plans.

Following are some of the student’s personal medical or travel requirements:

  1. Dental and Vision coverage
  2. Pre-existing coverage
  3. Sponsor protection coverage
  4. Maternity coverage for females
  5. Drug abuse coverage
  6. Preventive care coverage

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