Salient features of Overseas Travel Insurance

by Rita Biswas Consultant

Traveling to study abroad is a big moment for the students as well as parents. New education foundations will be built and a completely different chapter in the student’s life, full of opportunities, will open up. However, the journey is not without risks. In the unfortunate circumstance where there is an accident, theft, sickness or emergency; there is nothing that the parents can do post-occurrence of the incident. The overseas cost involved is very high and to bear it alone would be too great a financial burden. It is for such times that a Study Abroad Travel Insurance is vital, both for student and parent welfare and reimbursement.

The benefits of such a scheme are stated below:

· Luggage: Reimbursement of agreed cost on the theft of luggage from the common carrier(common luggage storage). Only the cost of checked-in baggage theft is covered. Loss of laptop is also covered in case of theft from the insured person.

· Flight delays: Reimbursement due to flight delays to cover any inconvenience caused due to delay.

· In case of missed departure or missed connecting flight, benefits are granted.

· Hijacking benefits are also included.

· Passport Theft: In the case of theft of a passport, the cost for obtaining a duplicate passport are covered.

· Medical Expenses: The following are covered; Hospitalisation Expenses, diagnosis charges, emergency medical transportation(local), and medical services for injuries sustained abroad.

o Medical evacuation to a better facility or to India is subject to approval by the agency.

· In the case of Accidental Death or dismemberment (loss of body parts/body functions), recompense is in accordance with policy norms.

· Study interruption: Due to reasons like the death of a sponsor or serious illness, if the study cannot be continued, the amount paid to the university is reimbursed.

· In case of a terminal illness or death of an immediate family member, charges of a round trip are covered.

· In case the insured person is hospitalized and has no one to take care of him, the cost of the round trip for an immediate family member is covered.

· Repatriation of remains: In the unfortunate event of death due to the events covered under the terms of the clauses, compensation for the transportation expenses of the mortal remains is granted.

Elan Overseas Education Loans is committed to providing premier features to overseas education aspirants like Student Loans for Studying Abroad, at the lowest interest rates and ancillary services like Forex and International SIM card. Elan also assists students in getting the best travel insurance plan available.