If you are preparing to go abroad for studies, here are some pointers to remember about health insurance that you will require.
Must have: While going abroad for studies, whether your university makes it mandatory or not to have a health cover, you must carry a health insurance policy with you, as healthcare is expensive in developed countries.
Preference: There are university that will give you option to buy health insurance provided by them or allow you to buy it from your local insurer in your country. In such situation, it is advisable that you buy it from an Indian insurer as university may not offer best deal.
Compare cost: Usually, health covers offered by universities are much more expensive than offered by domestic insurers. So, compare premiums thoroughly.
Compare benefits: Don’t pick a health insurance plan solely on the basis of cost. You should also compare the benefits offered by them. University plans usually have higher deductibles and sub-limits.
Also, university plans covers only health whereas domestic policies offer both medical and non-medical Benefits. Indian insurer’s offers benefits such as travel plan, compassionate visits, third party liabilities, study interruption protection and sponsor protection.
Don’t discontinue your existing health cover: If you are already covered by a health insurance plan in India, don’t discontinue it. A student plan will continue till you are studying, but a regular health plan will offer lifelong renewability. And when you will return, you will be older and have to pay more for buying a new policy.
Besides, you will lose the benefits accrued on it and you will have to serve the four year waiting period clause on pre-existing diseases coverage all over again.
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