Is it better to get insurance in India or at a foreign university?

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Is it better to get insurance in India or at a foreign university (1)

One of the most important aspects, when you pursue higher education at foreign universities, is health insurance. Most foreign universities ensure that you have insurance coverage. This helps them avoid a lack of treatment due to money shortage in case of serious illness. Even when you are opting for study loans, money lenders usually ask you for life insurance to ensure that they recover the loan in case of any unfortunate demise. But should you choose to take insurance in India or at a foreign university? Keep reading this blog to find out.

Health Insurance for Higher Education

If you are an Indian then many Indian lenders require you to necessarily purchase health insurance. However, in the case of foreign money lenders, including MPOWER, the loan amount is fully discharged when there is any mishap, even permanent disability. Thus, there is no such requirement to get an insurance amount.

Insurance in India or at a foreign university (1)
Health insurance helps you stay free of health and money concerns, especially in a foreign country

Keeping pre-budget expenses in mind is a necessary requirement when planning to pursue higher education at foreign universities. This life or health insurance is one of the most important aspects to consider. However, if a lender has not asked for collateral or a cosigner, the deceased student’s family is not liable for loan.

Usually, either students or the departments don’t have a seamless experience while claiming in a foreign country. As per students, it is quite easier to contact an insurance provider in the same location as your place of residence even if it is for 1-2 years during education or temporary.  

Why Should You Purchase Health Insurance?

As a student pursuing higher education overseas, it is always beneficial to purchase health insurance that includes the cost of appointments with doctors and all medical procedures. When it is about foreign universities, it will often make health insurance available for you. However, it can cost around $2500 to $3000 annually. 

Why Purchase Health Insurance From Home Country?

There are numerous conditions that foreign universities may put up when you purchase health insurance from a foreign university. Thus, it is always beneficial and suggested to take this insurance cover from your home country. 

For example, after getting admission to Jamia Milia Islamia University, an American student approached an insurance agent to get the mandatory life insurance cover or health insurance. According to the university’s rules and regulations, the health insurance provider should pay the expenses. This will cover bringing an ill student after preliminary treatment in India to paying for the treatment in the home country, if required.

No Indian health insurance provider would give the expenses for commuting from India to America and all the hospitalisation expenses involved. Thus, students who aspire to pursue higher education abroad are advised to get insurance from their home country. They’ll get the insurance that covers their home country and the rules and regulations of a foreign university cannot prevent it. 

Is it Really Beneficial to Have Health Insurance? 

No matter whether you get insurance in India or at a foreign university, an insurance policy has immense benefits. You can purchase these insurance policies from a foreign lender or insurer with a tie-up with foreign universities with special reference to the country where you are going to pursue your higher studies.

Further, you must choose an insurance policy as per your needs. Make sure to choose an insurance plan that covers all types of medical emergencies including accidents, dental treatment, evacuation and repatriation, tuition fee, personal liability, travel and sponsor protection. Keep these separate from other needed inclusions.

If you are thinking about foreign policies then you must also consider the fact that most foreign lenders discharge full loans in case of any unfortunate event of either death or permanent disability. Thus there is as such no need to get insurance. Further, both students and departments do not always have a seamless claiming experience in a foreign territory. 

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Some More Things That You May Consider 

Purchasing insurance from a home country is also beneficial in some ways. This can be beneficial as there can be some cashless procedures, you may get more comprehensive access to the insurance providers, an easier system to work with and most important you would get access to all customer services within the time zone.  

Hope now you know if it is better to take insurance in India or at a foreign university. If you want to study at a top university, you’ll need more than just good grades; you’ll need a flawless application because the competition is fierce. You may enlist the assistance of Leverage Edu specialists to assist you with the application process to realize your goals. Call us immediately at 1800 57 2000 for a free 30-minute consultation.

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