Student Medical Insurance Policies: Benefits And Documents Required

Health Insurance

Student health insurance policies are customised insurance products that offer extensive healthcare-related financial protection to students planning to study abroad. Usually, students choose to avail health insurance policies on campus, which leads them to incur high expenses. 

However, they can alternatively opt for such insurance policies from India itself and save substantially on premium payments. Furthermore, by purchasing these policies from India, they can also enjoy comprehensive benefits. 

Student Health Insurance Benefits

1. Cashless benefits including in-patient or out-patient expenses

Student health insurance plans cover all medical expenses arising due to sickness or accidents. The expenses incurred can be reimbursed, or in the case of hospitalisation, they are settled in a cashless claim.

2. Coverage for nervous or mental disorder

Taking cognisance of the rising mental health illness among students, many health insurance providers cover treatment of mental and nervous disorders under the scope of their policies. 

3. Transportation cost

The plan will cover transportation expenses (ambulance charges) to a hospital or nearest clinic.

4. Transport cost to India

Such medical insurance plans cover expenses like emergency transport costs to India if a student wishes to travel back home due to ill health. Sometimes, this insurance plan covers the cost of an accompanying person.

5. Covers repatriation costs

During the demise of any student, the insurance covers repatriation costs or burial/cremation abroad.

6. Compensation due to interruption of study

Sometimes, when you get hospitalised, your studies get affected. As a result, you may lose on career opportunities as well. Hence, a student health insurance plan provides compensation due to such interruption of study.

7. Sponsor protection 

In case a sponsor passes away, these insurance plans compensate your outstanding fees.

8. Covers expenses during visits

This medical insurance plan covers all expenses incurred by parents to visit a student during hospitalisation for more than 1 week.

Apart from these, there are student safety insurance policies that can be availed by educational facilities such as colleges or schools to cover students’ healthcare expenses. 

Benefits of Student’s Safety Policy

A student’s safety policy offers a wide range of benefits. A few of these are mentioned below:

1. Death benefits

In case of the death of any student due to any mishap or accident, the policy will pay out a fixed sum.

2. Total loss of both limbs and eyes

The policy offers financial coverage if the insured loses both eyes and limbs.

3. Complete loss of one limb and one eye

Losing one limb and one eye will also make the insured student eligible for a pay-out up to a particular limit.

4. Total loss of one eye or limb

Students will be eligible to claim coverage if they lose anyone eye or limb.

5. Permanent partial and total disablement

An insured student can claim financial coverage against expenses resulting from permanent partial and total disablement.

Also Read – https://navi.com/blog/gst-on-insurance-premium/ 

Student Safety Insurance Plans – What’s Excluded?

Exclusions under this student medical insurance policy are those cases during which you cannot claim any coverage. These include the following:

• During a period of disability, you will not be able to claim coverage for more than one time as per the clauses under the policy. 
• Any payment claiming 50% to 100% of the sum assured will not get entertained.
• Claims exceeding your sum assured amount while availing of the insurance will get excluded.
• Any expense claim against injuries resulting from illegal or criminal acts, suicide attempts, drug abuse, alcohol, insanity, and others will get excluded.
• In case of any claim linked to pregnancy, it will get excluded from the policy coverage. 
• Hospitalisation or injury arising out of nuclear activities or war will also feature in an exclusion list.

Student Health Insurance: How to Claim?

To raise a claim, the insured student will have to inform his/her educational institute about the incident. 

Then, the institute will take up the matter with an insurer. After that, all the documents such as medical bills, claim forms, and others will have to be submitted by students. In case of the demise of any student, a death certificate is also mandatory to raise claims.

What are all Documents Necessary to Complete a Claim Process?

To claim the coverage, you will need to submit a few documents. The requirements are different in case of death or injury due to an accident. Check all the requisite documents as mentioned below.

For any injury due to an accident and subsequent hospitalisation:

• The specific educational institute (school or college, etc.) must submit a duly filled claim form.
• A medical report or claim form is duly filled by a concerned medical practitioner.
• Original medical bills and other relevant documents concerning treatment.
• Any X-ray or similar report.
• Police FIR or Punchnama copy (Certified).
• Finally, an insured person must submit a certified copy of 2 month’s attendance list from the particular education institute.

In case of death due to an accident:

• Claim form duly filled and submitted by the specific school or college.
• All original documents concerning medical treatments.
• Any X-ray report if available.
• Copy of post-mortem certificate.
• Certified copy of death certificate.
• Certified copy of Panchnama or Police FIR.
• List of 2 months’ attendance from the specific school or college (Certified).

Also Read – https://navi.com/blog/central-government-health-scheme/ 

Final Word

As mentioned earlier, students can opt for a student safety policy or purchase any individual health insurance or critical illness insurance policy. Such health insurance plans offer students and their families much needed financial relief during times of distress. 

To avail of comprehensive health insurance policies with optimum coverage benefits, individuals can opt for a plan from insurers such as Navi. Download the Navi App today to choose from a buffet of options available!

Frequently Asked Questions

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Disclaimer: This article has been prepared on the basis of internal data, publicly available information and other sources believed to be reliable. The information contained in this article is for general purposes only and not a complete disclosure of every material fact. It should not be construed as investment advice to any party. The article does not warrant the completeness or accuracy of the information, and disclaims all liabilities, losses and damages arising out of the use of this information. Readers shall be fully liable/responsible for any decision taken on the basis of this article.