Study Abroad Student Insurance – Complete Guide

Introduction

Good health is one of those things we
all take for granted – it’s only when we get sick that we remember just how
important being healthy really is.

When a person’s health deteriorates, it
can be not only worrying but also quite expensive. That’s why health insurance
is so important.

The insurance provides a safety net that
prevents financial ruin when a person needs expensive medical treatment. It
also provides preventative care, which is one of the most important aspects of
health.

Therefore, in this article we will be discussing all the insurance an international student needs before applying to study abroad.

First, watch this video below for more information.

How to Study in Germany for Free – Germany for International Students in 2020

Let’s begin…

What
is INSURANCE?

Insurance is a means of avoiding
financial loss viaprotection. It is a form of managing risks. Its primary use
is in primarily used to avoid the risk of a loss that is either incidental or
uncertain.

Insurance is provided by entities and
they are they are known either as an insurer, insurance company, insurance
carrier or underwriter.

 A
person or entity who purchases insurance is known as a policyholder oran
insured. In insurance transaction, there is the involvement of the insured
taking on the assumption of a guaranteed and known relatively small loss in the
form of payment to the insurer in exchange for the promise by insurer to see to
the compensation of the insured in the event of a covered loss.

The loss may either be financial or not
financial, but it mandatorily to be reducible to financial terms, and usually has
the involvement of something in which the insured has an insurable interest with
its establishment being by ownership, possession, or pre-existing relationship.

A contract called insurance policy is
received by the insured and which bears the details of the conditions and
circumstances under which the insured will be compensated by the insurer.

The term premium, is the amount of money
charged by the insurer to the insured/ policyholder for the coverage set forth
in the insurance policy. If a loss is experienced by the insured which happens
to have a potential covering by the insurance policy, a claim is submitted by
the insured to the insurer for processing by a claims adjuster.

Its own risk may be avoided by the
insurer by taking out reinsurance, whereby there is the agreement by another
insurance company to carry some of the risk, especially if the risk is deemed
too hard by primary insurer to carry.

History
of Insurance

Since early times, the search for
methods to see to the minimization of risks have been on bymerchants.

The practice of methods for transferring
or distributing risk were practiced by traders of Chinese and Babylonian origin
as long ago as the 3rd and 2nd millennia BC, respectively. There was the redistribution
of wares across many vessels by Chinese merchants travelling treacherous river
rapids. This was aimed at limiting the loss due to any single vessel’s
capsizing. A system was developed by the Babylonians which was recorded in the
famous Code of Hammurabi, C. 1750 BC, and practiced by Mediterranean sailing merchants
of early times. If a loan was received by a merchant for the funding of his
shipment, the lender was to receive an additional sum as a pay in exchange for
the lender’s guarantee to cancel the loan peradventure the shipment be stolen
or lost at sea.

The ‘ general average ‘ was created by
the Circa 800 BC, the inhabitants of Rhodes. Through this, groups of merchants were
allowed to pay to insure their goods being shipped together. The collected premiums
would be used to compensate any merchant whose goods were discarded during
transport, whether due to storm or sinkage with payment.

The invention of separate insurance
contracts came through in Genoa in the 14th century, likewise insurance pools
backed by pledges of landed estates. Separate insurance are insurance policies
not bundled with loans or other kinds of contracts.  The first known insurance contract was
initiated from Genoa in the year 1347, and the next century that followed had
wide development of maritime insurance and there was intuitive variation of
premiums risks. Through these new insurance contracts, insurance was separated
from investment, a separation of roles that its usefulness was first proved in
marine insurance.

Types
of Study Insurance

  • Student Health
  • Travel Medical
  • Major Medical
  • Student zone

International
Student Insurance

The international student insurance discusses plans on health and travel insurance aimed at fitting the unique needs of the study abroad and international or study abroad student, at the most affordable rate imaginable.

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Study
Abroad Insurance

Overtime, making sure that one has the
right international health and travel insurance plan in place is sometimes not
near the utmost prior of international students not to talk of being the highest
priorityof students who are planning to study abroad. The thought of most
students needing coverage do not occur to them, or they may just have it left
to the last minute and not have the time to find the best option by researching
all the plans. This research is aimed at locating a range of plans that are
ideal for students studying abroad and offering the highest quality coverage at
the right price.

Study
Abroad Insurance Tips

In researching on study abroad
insurance, many plans available will be known to you. We’ve got a few tips to
help you look for and get the right insurance plan:

  • 1. All ratings of all insurance carriers is by either AM Best or Standard and Poors – some countries place a requirement on your insurance plan being rated above a certain level so be sure to have this checked out.
  • 2. Ensure you read the exclusions –Exclusions are items not covered by an insurance policy. All plans do have exclusions, some will be more stringent than others. To that regard, be sure to check them out and ensure you understand what is not covered under the plan. This will enable you decide which plan to go for.
  • 3. Does the plan participate in a network – Some plans have a network known as PPO, which happens to be a network of doctors/ hospitals, and their requirement is that one visits these providers, and other plans will not placeany restriction of such on you. So, this needs to be checked out.
  • 4. 24-hour assistance –The standard time/duration on all plan taken for an assistance service is 24 hours. Most plans will offer you a 24-hour assistance service while others won’t. Hence, ensure that you can easily call them from your home country.
  • 5. How claims are paid – A pay up front, claim back later procedure may be adopted by all insurance plans, but international students are to ensure that they are aware of the length of time within which a claim will be processed, it should really be at most 2 weeks.

Student
Health Insurance

The Student Secure plan is international
student health insurance plan that is usually scheduled for a month. It is
ideal for students who are undertaking an international program outside of the
USA. The fantastic benefits offered by the plan include hospitalization
coverage, prescription medication, doctors’ visits, mental health coverage,
maternity, sports coverage, evacuation, the list continues. The plan can be purchased
in monthly increments. The monthly payment is renewable if one needs further
coverage. It offers the ultimate flexibility for students.

Student
Travel Health Insurance

For students who are not in need of the
flexibility offered by the student secure for monthly payment and do not
require benefits such as mental health, maternity, etc., Atlas International
plan is ideal for such students who are looking for more travel related
benefits. The plan can be purchased from 5 days up to 1 year and can be renewed
if one purchases a minimum of 3 months at the beginning. The plan provides
coverage for the following, hospitalization, doctors’ visits, prescription
medication, evacuation, repatriation, trip interruption, lost luggage to
mention but a few.

Student
Health

International students studying in the
United States of America and around the globe, as well as US Students studying
abroad are provided worldwide health insurance coverage.

The StudentSecure, an international
student health insurance plan, is designed for study abroad and international
students and is available in four plan levels: Smart, Budget, Select and Elite.
A range of benefits is offered by each level

Discussion on the four plan levels

Smart

It has a maximum of $200,000

It is $50 deductible in PPO

Smart has 80% coinsurance

It starts from $24/month

Budget

It has a maximum of $500,000

It is $45 deductible in PPO

Budget has 80% coinsurance up to $25,000

It starts from $35/month

Select

It has a maximum of $600,000

It is $35 deductible in PPO

Budget has 80% coinsurance up to $5,000

It starts from $66/month

Elite

It has a maximum of $1,000,000

It is $25 deductible in PPO

Budget has 100% in PPO

It starts from $93/month

Benefits

International and study abroad students
have the Student Secure, International Student Health Insurance plan made
available to them in four main plan levels; Smart, Budget, Select and Elite. Different
coverage limitsare offered by each plan level. The Smart is the most affordable
of the three plans and the Elite the most comprehensive.

Pre-Existing
Medical Conditions

During the first six (6) months of
coverage on the Elite and Select, during the first twelve (12) months on the
Budget, charges resulting directly or indirectly from any pre-existing
conditions are excluded from this insurance, except charges resulting directly
from an Acute Onset of Pre-existing Condition, an Emergency Medical Evacuation,
or Repatriation of Remains, subject to the limits set forth in the Schedule of
Benefits and Limits.

Pre-existing conditions is not covered
by the Smart level, except charges resulting directly from an Acute Onset of
Pre-existing Condition, an Emergency Medical Evacuation, or Repatriation of
Remains. This is subject to the limits set forth in the Schedule of Benefits
and Limits.”

Pre-existing Condition means any

  • 1. condition for which recommendation or medical advice, diagnosis, care, or treatment (includes receiving services and supplies, diagnostic tests or prescription medicines, consultations) occurs during the 12 months immediately preceding the certificate effective date
  • 2. condition that had being made manifest in such a manner that would have caused a reasonably prudent person to look out for medical advice, diagnosis, care, or treatment (includes receiving services and supplies, consultations, etc.) during the 12 months immediately preceding the effective date of the certificate;
  • 3. injury, illness, sickness, disease, or other physical, medical, mental, or nervous conditions, disorder or ailment (whether known or unknown) that, with reasonable medical certainty, existed at the time of application or within the 12 months immediately preceding the certificate effective date.

With student health insurance, Emergency
Medical Evacuation will be provided for international or study abroad student,only
to the nearest hospital that has the qualification to provide the medically
necessary treatment, services and supplies to prevent the loss of a student’s life
or limb.

Circumstances which are not within control
can cause the timeliness of arrangements. These circumstances include:
availability of transportation equipment and staff, delays or restrictions on
flights caused by mechanical problems, government officials, telecommunications
problems, weather and other acts of God. The insurer shall not be held liable
for any delays that are not within its direct and immediate control.

Nevertheless, the preceding, and if the
student is visiting the U.S., his/her expenses to return to his/her home
country will be paid. This will be the case if there is an agreement between
the attending physician and medical consultant that transfer to the student’s
home country is more appropriate than transfer to the nearest qualified
hospital.

Repatriation of Remains

The health insurer will be harmless and
shall not be held liable for loss of or any damage or other sort of impairment
to bodily remains incurred during the repatriation process or otherwise.

Emergency Reunion

Accidental Death and Dismemberment

Accidental Death is caused solely external,
visible means resulting in physical injury to you and your subsequent death. It
occurs by means a sudden, unintentional and unexpected occurrence. Death is
mandated to occur within 30 days of the sudden, unintentional and unexpected
occurrence and not be led to by illness or disease.

Accidental Dismemberment is known to be
a sudden, unintentional and unexpected occurrence caused solely by external,
visible means and leading to complete severance from the body of one or more
limbs or eyes. It is not contributed to by illness or disease. For purposes of
the benefit of Accidental Death and Dismemberment, the term “limb” is known to mean:
the arm when the severance is at or above (toward the elbow) the wrist, or the
leg when the severance is at or above (toward the knee) the ankle. Loss of
eye(s) is also known to mean: complete, permanent, irrevocable loss of sight.

The person who is to benefit from this insurance is the individual whose name appeared in your application to be in receipt of any accidental death benefit.

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Exclusions
of Students Health

There is the exclusion of charges for
the following conditions

  • 1. Illnesses present from birth (Congenital)
  • 2. Disorders of mental health, if thetreatment is obtained at a student health center
  • 3. Physical therapy, if the student obtainstreatment at a student health center
  • 4. Chiropractic treatment, if treatment is not obtained at a student health center.
  • 5. Elective termination of pregnancy.
  • 6. Promotion or prevention of conception
  • 7. Venereal disease, including all diseases transmitted through sexual intercourses and conditions relating to it.
  • 8. Transplants of organ or tissue or related services.
  • 9. Voluntarily using any drug unless under the prescription by a physician.
  • 10. Eye surgery, such as surgery relating to corrective refractory, when the primary purpose is to correct nearsightedness, farsightedness or astigmatism.
  • 11. Corrective devices and medical appliances
  • 12. Orthoptics and training on the eye.
  • 13. Hair loss including wigs, hair transplants or any drug prescribed or not, that causes hair growth
  • 14. Acne, skin tags, moles, diseases of sebaceous glands, seborrhea, sebaceous cyst, hypertrophic and atrophic conditions of skin, nevus.
  • 15. Sleep disorders such as apnea, etc.
  • 16. Psychometric,competency, intelligence, behavioral and educational testing.
  • 17. Cosmetic or aesthetic reasons
  • 18. Modifications of the physical body aimed at improving the psychological, mental or emotional well-being, including but not limited to sex-change surgery.
  • 19. Obesity or modification of weight, including but not limited to wiring of the teeth and all forms of intestinal bypass surgery.
  • 20. Exercise programs, whether with prescription or recommendation by a physician.
  • 21. Incurred due to exposure to non-medical nuclear radiation and/or material(s) that are known to be radioactive.
  • 22. Charges caused by the outbreak of a disease in a country or location for which the U.S. Centers for Disease Control and Prevention (CDC) has issued a Level 3 Travel Warning on the following conditions:  a) the warning has been in effect within the 6 months immediately prior to a student’s date of arrival, or b) within 10 days after the date the warning is issued, a study abroad have failed to depart the country or location.
  • 23. Investigational, experimental or for purposes on research basis.
  • 24. Complicated health issues that may arise or consequences of a treatment or condition not covered here under.
  • 25. Incurred outside the certificate period of a student.
  • 26. Submitted to the insurers for payment more than 60 days after the last day of the certificate period.
  • 27. Exceeding usual, reasonable and customary.
  • 28. No necessity medically necessary.
  • 29. No medical treatment administered by or ordered by a physician.
  • 30. Provided by a relative, the member of your family or any person who ordinarily resides with you.
  • 31. Provided to an international student at no cost.
  • 32. Consultations via telephone or failure to meet up with a scheduled appointment.
  • 33. When one departs from the home country for the purpose of obtaining treatment in the destination country/countries.
  • 34. Payable under any system of government, including the Australian Medicare system.
  • 35. War, military action or while performing one’s duty as a member of a police or military force unit.
  • 36. No inclusion as Eligible Expenses as described herein and lots more.

Premiums

A premium is the amount to be paid for
an insurance policy.

Coverage is provided for international
studentsand study abroad students around the world outside of their home
country by the StudentSecure plan.

An international student can choose to
pay upfront or in monthly installments with his/her debit or credit card.

With the option to renew for up to four
years in total, coverage is available from 15 days up to 364 days.Coverage that
excludes the United States can ONLY be purchased by US citizens.

If one chooses to pay with a monthly
installment, there is a $5 administrative fee added to the monthly rate.

Sports
and Activities

Interscholastic,Intercollegiate,
Intramural, or Club Sports (Budget, Select and Elite only)

Leisure, Recreational, Entertainment, or
Fitness Sports and Activities

Personal Liability (Elite Only)

Specific Conditions

  • 1. The student or his/her legal representatives will send a written notice across to the insurer immediately if he/she has received notice of any prosecution or inquest in connection with any circumstances which may bring about the liability under this section.
  • 2.Without the insurer’s prior written consent, no admission, promise, offer, payment or indemnity shall be made by or on behalf of an international student.
  • 3. There shall be an immediate forwarding of every claim letter, notice, writ or process or other document served on a study abroad student upon receipt.
  • 4. Against all other persons orparties, the insurer shall be entitled to take over and conduct in the name of the international student the defense or settlement of any claim or to prosecute in one’s name for the insurer’s benefit, any claim for indemnity or damages.
  • 5. The insurer may pay the student in connection with any claim or series of claims the sum insured. This is to be after deduction of any sums already paid as compensation, or any lesser amount for which such claim(s) can be settled. At making this payment, the insurer shall relinquish the conduct and control and be under no further liability in connection with such claim(s) except for the payment of costs and expenses that can be recovered or was incurred prior to the date of such payment.
  • 6. Consideration on paying or advancing, but without any obligation or contractual duty to do so, up to $2,500 to the international student or for his/her benefit to settle and compromise an asserted claim against an international student so long as:
    • The asserted claim is such that may have eligibility for coverage under this insurance;
    • No filing of lawsuit has taken place, or, if already filed, no response has been filed;
    • The student obtains a full written release and/or covenant-not-to-sue satisfactory to the insurer; and
    • There is the provision of satisfactory necessary documentation of full proof of claim.

Terrorism (Budget, Select and Elite
only)

If we cite that by reason of this
exclusion this insurance does not cover any loss, damage, cost or expense, the
burden of proving the contrary shall be upon the international student.

In this event, the remainder of the
exclusion shall remain in full force and effect if any portion of this
exclusion is found to be invalid or unenforceable,

Cancellation

In a situation where after reading, one
is not happy with the cover provided by this policy because this insurance does
not meet with your requirements, a notification of your wish to cancel is to be
made known and have your premium refunded.

Full refunding of premiums will be made in
full if cancellation request is received prior to the certificate effective
date.

Subject to the following provisions,premiums
may be refunded after the certificate effective date:

1. For administrative costs incurred by the
insurer, a $25 cancellation fee will apply;

2. A refund will only be made for unused
days, if paid in full, of the planor unused whole-months, if paying in monthly
installments, or;

3. The international student cannot have
filed any claims to for premium refund eligibility;

4. No grant shall be given to the refund
of premium after 60 days.

Eligibility

1. You are mandated to be below age 65;
and

A. Be obtaining full-time study at a
college or university. Online colleges and universities are excluded; or

B. Before 31 days of being a full-time
student at a college or university; or

C. A student below the age of 19
enrolled in a secondary school; or

D. A scholar obtaining full-time studies
in affiliation with an educational institution and performing work or research
for a minimum of 30 hours per week;

2. You must be residing outside your
home country for the purpose of the pursuit of international educational
activities; and

3. You’re mandated to have obtained
residency status in your host country; and

4. If in the U.S., the international
students must hold a valid education-related visa. There may be a requirement
for a copy of the I-20 or DS2019.

J-1 and F-1 visa holders: Within the US,
the full-time student/scholar status requirement is waived. If a student has a
valid F-1 visa (including OPT) or a J-1 visa. For individuals holding M-1, or
other category visas,full-time status requirements remain in force.

Benefit Period

The benefit period does not apply while
the certificate is in effect.The payment of eligible medical expenses for up to
60 days beginning on the first day of diagnosis or treatment of a covered
injury or illness while one is outside his/her home country and while this
certificate is in effect will be made upon the termination of the certificate.Inpatient.
On the termination date of the certificate, the benefit period applies only to
eligible medical expenses in relation to a condition for which one is hospitalized.

Home Country Coverage

Benefit Period – In the event, a benefit
period is begun while the certificate is in effect, and the certificate
terminates because one returns to his/her home country. The payment of eligible
medical expenses which are incurred in the student’s home country during the
benefit period will be made. In the termination date of the certificate,home
country coverage applies only to eligible medical expenses for which one is
hospitalized as an inpatient.

Incidental Home Country Coverage –For
every three-month period during which you are covered, there is the covering of
up to a maximum of 15 days for any three-month period for eligible medical
expenses.

There’s no accumulation of any benefit
incurred under a single three-month period to another period. Any home country
coverage provided under the terms of this agreement Failure to continue your
international trip or your return to your home country for the sole purpose of
obtaining treatment for an illness or injury that began while traveling shall
be void.

No coverage is provided within the U.S.,
except for citizens or residents of U.S. during an eligible incidental home
country visit or an eligible benefit period for all non-U.S. citizens electing
coverage “Excluding the U.S.” and for all U.S. citizens or residents.

The coverage provided under this Master
Policy is for a duration of at most 364 days, except for a benefit period. The
basis of any extension is upon the eligibility rules in force and is solely at
the discretion of the insurer.

Nevertheless, the preceding, the
termination of coverage under all plans shall come on the date the insurers, at
our sole option, elect to cancel all members of the same sex, age, class or
geographic location, provided a minimum of 30 days is given in advance written
notice by mail to a student’s last known address.

Travel
medical

This type of study insurance proivides
international students with world class international travel health insurance
protection when one is traveling outside of his/her home country. The insurance
can be accessed from a minimum of 5 days up to 364 days in the USA and up to
365 days for other countries (with options to undergo renewal). For anyone in
search of an affordable travel medical insurance plan, this plan is optimal.

What
Travel Assistance Services are Included?

The Travel Assistance Services has the following
Assistance Services included in it:

Pre-Trip Destination Information

This provides a current information
regarding the required travel restrictions,vaccinations, health risks, and
weather conditions definite to your home country.

Medical Monitoring

This concerns consultations with
attending medical professionals during a student’s hospitalization and
establishment of a single point-of-contact for family members to be in receipt
of ongoing updates with regards to one’s medical status.

Provider Referrals

The study abroad student should obtain information
for Western-style medical facilities and medical and dental practices and
pharmacies in his/her destination country where English is spoken.

Travel Document Replacement

This talks about assistance with
obtaining replacement passports, birth certificates, visas, airline documents,
and other documents that is travel-related.

Lost Luggage Assistance

This travel assistance service is
responsible for tracking service to assist in locating luggage or other items
lost by an international student in a transit.

Aside the aforementioned travel assistance
services, other important travel Assistance Services include:

Dispatch of Physician

Prescription Drug Replacement

Emergency Travel Arrangements

Translation Assistance

Credit Card/Traveler Check Replacement

The discussed Travel Assistance Services
are not benefits of insurance and provision of any travel Assistance Service
does not guarantee any other benefit under the plan.

Major
Medical

This insurance plan is available is open
to both citizens of US origin and non-US origin who are making plans to live,
study or work outside of their home country for a minimum of one year or more.
The design of this annual insurance plan is such that is aimed at providing
comprehensive international health insurance coverage for when one is abroad
for any duration.

This plan is available in the following
levels: Bronze, Silver, Gold, Gold plus and Platinum. Available for you from
each of the level is a more comprehensive range of benefits and coverage limits
to satisfy your needs.

Student
Zone

The ability to manage the international
student health and travel insurance that is purchased is provided by the
Student Zone. There is the accessibility of the account feature for 24 hours a
day.

Conclusion

We recommend a Study Abroad Student Insurance for you. With this article, it is obvious how advantageous to international/study abroad students insurance coverage is. So, get insured now!

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