Complete Guide to Health Insurance Options for Indian Students Studying Abroad

Indian students about to go to study abroad may need international student insurance as one of the conditions of getting a visa or beginning a course of study. Even if international student medical insurance isn’t mandatory, it can be an excellent idea as it offers peace of mind and is there to help in the event of unexpected medical bills.

This guide walks through some providers to consider, for the best international student health insurance for Indian students. We’ll also introduce Wise as a great option for anyone studying away from home, or travelling frequently, with low cost international payments which use the mid-market rate.

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Why do Indian Students Need International Health Insurance?

Many universities require you to provide proof of international student health cover as one of the conditions for starting your course. Having foreign student medical insurance may also be a condition for getting your student visa.

However, even if it’s not mandatory based on your study destination, having the best travel insurance for students studying abroad based on your particular plans offers peace of mind and reassurance if anything goes wrong on your trip. As a student the chances are that you’ll be living on a fairly tight budget anyway. Your visa may not allow for working, for example, which can mean that finding some extra cash in the event of an unexpected medical or dental bill is simply impossible.

The key benefit of international student insurance plans is usually reimbursement, or cashless payment, for medical bills. This is crucial because medical care costs in many countries - and in particular in North America and parts of Asia like Singapore - can be extremely high. Before you’ll be admitted to a hospital you may need to prove you have overseas student health insurance. If you don’t have adequate cover you may be refused treatment or required to provide proof of funds or an upfront payment for health costs, which isn’t always practical.

Student health insurance policies also commonly offer cover for dental care - which is also costly in many countries - and can support things like preventative care and even vision care if you need eye tests, spectacles or contact lenses. All in all, having a student travel health policy is an effective way to make sure your plans aren’t ruined by unexpected health issues - or by blowing your budget on an unexpected bill. Plus, most policies which offer health insurance for students studying abroad also have extra perks like travel insurance for lost baggage or documents, and study specific cover such as sponsor protections and compensation if your study is interrupted for some reason.

Read on for more about medical insurance for Indian students studying abroad, and some of the extras providers might also offer.

Guide to Buying International Student Insurance

You can get medical insurance for international students from Indian banks and insurance specialists. It’s important to note that the specific cover requirements vary by country and institution. Before you buy foreign student insurance you’ll need to confirm the requirements with the university or other educational institution you’re headed for, and compare their rules with the visa application guidelines.

On top of the health cover which is core to most international student insurance policies, many also offer other features and benefits, such as:

• Accidental death benefits
• Permanent disablement compensation
• Bail bond cover in the event you’re arrested
• Study interruption compensation
• Sponsor protection to cover tuition fees if your sponsor dies
• Compassionate visit cover

Cover levels, inclusions and exclusions vary widely between providers and specific policies, making thorough research crucial. This guide looks at 5 popular study abroad medical insurance providers to kickstart your research.

Choosing the Right International Student Insurance Plan

When you’re deciding on the right foreign student health insurance for your needs, you’ll need to take into account factors like these:

Are you eligible for the specific policy? Bear in mind that not all policies are available to all students. Age limits may apply, some policies exclude certain destination countries, and some only work with students at specific educational institutions.

What types of cover do you need? Some plans cover medical emergencies only, while others have full medical care, which can even include cancer screening and maternity cover. Plans may also offer dental care or vision cover.

What costs are you prepared to pay? There will be monthly or annual premium fees, but some plans also have deductibles which you must pay whenever you make a claim, or copayment requirements, which mean you pay a percentage of the costs when you need treatment.

Do you need cover for pre-existing conditions? Cover options do vary, but in most cases cover is not offered for pre-existing conditions unless you declare them. If you have pre-existing conditions, you may find that the costs of your policy increase.

How are claims assessed and processed? Most policies will reimburse expenses, but some also offer cashless admissions to hospitals which means you do not need to pay bills upfront. Make sure you understand how to claim if you need to.

What is the provider’s service reputation like? Get feedback from friends and family if they have preferred providers, and look online for reviews to understand if the provider is reputable and easy to work with.

Review of Top Insurance Providers for Students going to Studying Abroad

You’ll need to compare several different providers and policies before you can pick the right study abroad health insurance for your needs. All providers have varied levels of cover, and the costs are typically quoted based on your specific needs, destination and the duration of the policy overall. That means that picking an international student health plan is a highly personalized process.

Here are some top providers which may be able to help if you’re looking for the best health insurance for your overseas study.

HDFC Ergo Student Suraksha Insurance Plan

The HDFC Ergo Student Suraksha Insurance Plan¹ offers worldwide cover on policies which can be from 30 days to 2 years long. In many cases there’s no medical check-up required, and you may be eligible if you’re aged 16 to 35 years old. The policies are available to Indian students who want to apply prior to traveling overseas for study, and also to students who are already in their host country abroad. This may make HDFC a good choice to look at if you’re already on a course overseas and want to compare your insurance options to get the best available cover.

Health benefits included cover:

• Emergency medical and dental costs
• Medical evacuation or repatriation
• Treatment of mental health conditions, including alcoholism and drug dependency
• Maternity cover after a 10 month waiting period
• Screening and mammograms if recommended by a physician

Cover levels vary, and plans also offer a broad range of other features like compensation if your study is interrupted, sponsor protections and travel cover.

ICICI Lombard Globetrotter Overseas Student Insurance

ICICI Lombard Globetrotter Overseas Student Insurance² is available either on a worldwide policy, or worldwide excluding Canada and the US. This allows you to pick the plan which suits your destination country. Insurance offers health benefits which include cashless hospital admissions in some cases, alongside broader coverage for travel losses or inconveniences. This can mean you’re covered for losing your passport or bags on the way to your place of study, and personal liability on arrival. You can also get covered for loss of study time or a bail bond in the event you’re arrested abroad.

Health benefits included cover:

• Cashless medical cover where offered, including for for inter-collegiate sports injuries
• Dental treatment costs for your natural teeth
• Treatment of mental health conditions to 1,000 USD, including alcoholism and drug dependency
• Maternity cover to 500 USD value after a 10 month waiting period
• Screening and mammograms to 2,000 USD if recommended by a physician

Tata AIG Student Guard - Overseas Health Insurance

The Tata AIG Student Guard Overseas Health Insurance³ policy is available through Axis Bank. There are 3 different plan types available, Plan A, B and C, which offer different cover levels from 50,000 USD in value up to 250,000 USD. This allows you to pick the cover level which you think is appropriate based on your plans and budget.

Health benefits included cover:

• Sickness reimbursement and personal accident cover
• Pregnancy termination cover
• Cancer screening and mammograms

There are also other cover areas such as study interruption and sponsor protection which are included as a standard in the policies. Get in touch with Axis Bank directly to learn more about eligibility and the specific policy inclusions and exclusions.

Reliance General Student Travel Insurance

There are 5 different levels of Reliance General Student Travel Insurance⁴, although the most basic cover does not offer medical or dental benefits. For health cover, select Standard, Silver, Gold or Platinum plans. All have similar broad cover areas, with the major area of difference being the total insurance level for medical expenses. Standard plan holders are covered to a total level of 50,000 USD, through to the top tier Platinum plan which comes with cover up to 500,000 USD.

Health benefits included cover:

• Medical expenses to varying cover levels
• Dental costs to 500 USD
• Personal accident insurance to 25,000 USD

Plans also cover other common areas for student insurance such as compassionate visits, interruptions to study and bail bonds.

ISO International Student Insurance (For USA)

You can get ISO International Student Insurance⁵ for international students from 12 to 64 years old, with different categories available depending on your visa type, the institution you’re studying at and your age. Plans are optimised for use at US institutions, and offered through other insurance networks which work globally.

You can enter the details of the study you’re about to commence on the ISO website to view the policies which are available to you, which can come in different cover levels to allow you to pick the plan which suits your needs and budget.

Plans may offer unlimited cover, and preventive care with an annual deductible which varies depending on the specific plan you pick. You may also need to make a copayment every time you seek treatment, which means you can be covered for around 80% to 90% of the total costs of your treatment. In the plans we looked at during research, there were maximum annual out of pocket payment levels, which means you can always cap the level of personal payment you would need to cover during the course of your policy.

Start your International Journey with Wise

Whether it’s for your health insurance premiums, tuition fees or living costs, if you’re studying overseas you’re likely to need to send payments abroad in foreign currencies frequently. Sending money abroad can be costly and come with high and unexpected fees in the exchange rates used for currency conversion. Avoid this with Wise.

Send Money with Wise 👉

Wise international transfers from India use the mid-market exchange rate, with low, transparent fees. Payments can be quickly deposited to bank accounts in many countries, making this a simple way to make seamless payments around the world, with no hidden fees, and no hassle.

Wise Account for International Students

While you’re thinking about how to make your life as an international student as simple as possible, why not also sign up for a Wise Account, available to residents of supported countries.

Open your Wise Account 🚀

Wise Accounts are available in many countries and regions globally, and can help you to manage your money internationally. Hold 40+ currencies, and exchange with the mid-market exchange rate whenever you need to. Plus, you can spend with your Wise card in 150+ countries, and receive payments with local and SWIFT account details in 8+ currencies. That makes it easy to pay and get paid in a range of currencies, with low fees and great exchange rates every time.

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Sources:

1. HDFC Ergo Student Suraksha Insurance Plan
2. ICICI Lombard Globetrotter Overseas Student Insurance
3. Tata AIG Student Guard - Overseas Health Insurance
4. Reliance General Student Travel Insurance
5. ISO International Student Insurance