look news india
As the years go by, the ratio of Indian students studying abroad is increasing rapidly.
This increase has also increased the geopolitical risk for Indian students studying abroad. Therefore, insurance companies are improving their plans and making them more diverse to suit the needs of Indian students studying abroad. According to data from the Ministry of External Affairs, the number of Indian students pursuing higher education abroad this year is 13.3 lakh.
Due to the Ukraine-Russia war, many Indian students studying in Ukraine were forced to leave Ukraine. Along with this, Indian students are forced to return home due to the high cost of health care in many countries. Therefore, there were many insurance plans that catered to such specific needs of students. Indian insurance companies are now looking at this adversity as an opportunity. HDFC ERGO is considering allowing students to customize their own insurance package. Tata AIG has recently introduced an insurance policy with a protection cover of two to three years. While ICICI Lombard has also covered the living expenses of Indian students abroad and travel expenses will also be reimbursed if the authorities of the country where the student is studying issue instructions to leave the country. Travel insurance premiums have also been increased in high-risk areas. Prices have been increased by 20 to 25 percent for areas of Israel or countries whose conditions may be extremely harsh. The main reason for which is the cancellation of the trip at any time.
It is noteworthy that when foreign universities make insurance mandatory for international students studying in their country, Indian insurance companies are trying to fulfill this need of the students.
The premium ranges from Rs 1,200 to Rs 37,000 depending on the material and policy benefit term.
Cover amounts range from $50,000 to $500,000
For what situations do Indian students get insurance cover abroad?
If studies are interrupted due to political crisis, earthquake, fire, flood, epidemic
Reimbursement of fees in case of kidnapping, bail bond coverage against arrest, detention, daily allowance or payment
