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Kid Leaving Home for College? Books - Check. Money - Check. Health Insurance - Huh?

Sharanya Kannan Sharanya Kannan 27 April 2017

When I started planning my Masters outside India, my parents were all psyched up! Having stayed at home all life until then, it’s normal to understand parents‘ helplessness who have offered their best protection possible so far. If you are one, it’s after such a point that you realize you can never stop your kids anymore from getting those jazzy ear piercings.

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My dad would have never known when I took that midnight’s drive for ice cream! The over-protective parents that you are, you have always shielded your kids from falls and bruises. You could rush back home at any point in the day to get them fixed. Not anymore. Higher studies are not a joke and leaving home to brave a foreign country and its conditions are challenging enough. NOW is when you start looking for a desperate “100% fall-back-guardian”. We will tell you what’s easier – Get him/her the best of health insurances possible! Bubble-wrap your kid from anything harmful even while s/he is away! Imagine if you could always bubble-wrapping your kid before they had a fall or fell sick.

Well getting this health policy before they fly away would be something like that! You could do this in three ways - Buy insurance from university, from the insurance company in the country you are travelling to or from back home here in India.Getting the insured with the videsi health services. In some countries like Europe, Australia and Asia, it is optional. You could take your policy from a local insurer who meets the university’s guidelines. The universities would be able to guide you with the necessary steps if need be.

For instance, while in UK as a student. I had to get hospitalized for a month. Having registered barely a day before I fell sick, the National Health Services ensured that I do not have to spend a single penny throughout the entire month. Or the English might have just given me marching orders to get back home! This happened because I left home WITHOUT a health policy! And for countries whose medical costs are much, much more than in India, can you even begin to imagine what I would have run into for a month’s free boarding and lodging at the hospital?

Getting insured with the phrenology at the Uni Some universities make it mandatory for students to buy health insurance from them. Some have clauses which Indian insurance companies don’t comply with. If your chosen university runs its own medical scheme and your Indian insurance policy doesn’t meet with their standards, you have no choice but to buy from them or buy from the local insurer recommended by them. Since a foreign insurance system would sound too complicated, the majority go along with the university, filling out their insurance forms along with many others during the admission formalities.

In such cases, the coverage would be exorbitant and the premium gets billed with the fees. Yet, people are left with little or no options to go with it, as they are uncertain about the rules and have less knowledge about the available alternatives.Getting insured from Mera Bharat Mahaan. An overseas student insurance policy from India is specially designed to take care of health and travel related risks while your kid studies abroad. If you are allowed to take your health policy from India, it would certainly work out cheaper. The premium charged by domestic insurers is about one-third of what’s charged in the previously discussed options. Policies taken from India may help you with.

  • Reimbursements limits of $50,000 and more. Study interruption (reimburses fees for any semester the student skips owing to medical reasons)

  • Travel plan(covers loss of passport and check-in baggage)
    c. Sponsor protection (reimbursement of tuition fees if the person funding the education dies)

  • compassionate visit (reimbursement of travel (two-way) and stay costs for parents if the kid gets hospitalized)

  • Accident and sickness reimbursement/Third-party liabilities

However, this does not mean that you should stop or cancel your existing policies here to avoid duplication. Insurance experts’ advice that you should always continue with the existing health plans to enjoy a continuous health cover and its accrued benefits, after your return to India.

Your child is the most precious in your life and when we send our kid out, that innate sense of protection kicks in naturally - you want to make sure that his/her path is hassle-free, it’s a parent thing to do. Until now, you could just brace your child to ensure that. But now, you would walk to hell and back if it comes down to protecting him/her. We are just giving you an additional option. If you are even slightly hesitant or confused about the existing policy or if you want to make sure that you take THE RIGHT policy for your kid who is leaving soon, can easily guide you. With our wide database, and our awesome Relationship Managers who can weave magic into your policies, we hardly have much to say no to, especially when it comes to something as important as keeping your family safe. You think we can’t? Try us!

Sharanya Kannan
Written by Sharanya Kannan
Sharanya loves food, films, finitism, flawlessness, flavours, freedom, factualism, facundity and being fluxional. Obviously you can tell that she loves the f-word: Feminism.