Heading abroad for higher education is exciting, but navigating health insurance can be tricky. International students often make costly mistakes that can leave them vulnerable in a new country.
From choosing inadequate plans to ignoring the regulations of the country, these errors can lead to financial stress or denied claims.
Rakesh Goyal, Director of Probus, offering products online/offline for Indian customers across categories in General & Life Insurance, highlights five common travel insurance pitfalls to avoid.
By understanding key considerations like comprehensive coverage, country-specific rules, and the importance of transparency regarding pre-existing conditions, students can secure the right plan, ensuring peace of mind and protection during their academic journey.
1) Picking the cheapest plan without reading the fine print
Students are often on a tight budget, and it’s natural to want the cheapest policy. But when it comes to insurance, cheap doesn’t always mean smart. Many low-cost plans omit important benefits like outpatient care, dental treatment, or mental health support.
They might also have high deductibles, meaning you’ll end up paying a lot out of your pocket before the insurer steps in. Look for a plan that balances affordability with solid coverage. One should always look for plans that cover hospital stays, lab tests, doctor visits, and even emergency medical evacuation or loss of passport. Think beyond just illness — look at real-life situations you might face.
2) Ignoring country-specific insurance rules
Every country has its own rules when it comes to student insurance. For example, Australia requires all international students to buy Overseas Student Health Cover (OSHC). In some parts of Canada, you need proof of private insurance before your visa gets approved.
Before buying any policy, check the insurance requirements of the host country and university. If someone is going through a study abroad consultant, ask them directly. Also, Indian insurers now offer location-specific student plans that are compliant with local laws — so make sure your plan checks all the right boxes.
