Your study abroad agency just recommended that you buy travel and health insurance but it sounds like an extra cost you aren’t too keen to pay. After all, you are young, healthy and fit !
Help is on its way
Your agent isn’t trying to sell you insurance to make more money, commissions on travel insurance packages are low or non existent. Your agent is simply trying to make sure that he can sleep at night.
There is no larger nightmare than dealing with a nasty accident in a foreign country. Even simple problems can be expensive: your luggage was stolen, or your portable computer got swiped.
But I already have medical insurance!
Check, check and check again please! In many countries people hold life insurance policies that have some kind of medical cover. But read the small print: in your own country you are likely benefiting from some kind of state support so the policy will only pay out a small amount, or have a limit. For example a US$ 1000 – US$ 8000 maximum.
A stay in a North American hospital can cost US$/CAD$ 3000 per DAY. If you have a nasty accident that requires operating the costs can go into the hundreds of thousands of dollars and insufficient cover could bankrupt your family.
Inadequacy insurance can be worse than no insurance!
Compulsory insurance
In Australia and New Zealand insurance is mandatory, you cannot study at a language school without insurance. You need to buy a government approved insurance package.
In Canada and the USA insurance is often optional (but some schools require that you buy their insurance).
In the UK you are covered under its National Health insurance scheme if you study for longer than 6 months (>26 weeks). Because so many foreign students were using the system (and thus using up a lot of money) hospital staff are now trained to spot students who study shorter than 6 months.
Checklist for a good policy
If you are buying an insurance package make sure its the right one! Does it cover going scuba diving? Snowboarding? Or your laptop being stolen on the way to school? These are not everyday problems at home, but you will encounter them overseas!
Standard travel insurance may not be sufficient, they are great for short stays (up to 2 weeks) but probably impossibly expensive for long stays. So find a package that can cover your whole length of studies.
- Are there any deductibles you need to be aware off? (Say: US$ 100 for a doctors visit that you need to cover by yourself)
- Is there sufficient cover to cover your i-phone, (i-pod), mobile phone or laptop computer being stolen?
- If you have any pre-existing conditions, are they covered?
- Can you family visit you in case of a serious accident? Are their flight expenses covered?
- In case of a family emergency at home it is possible to get a course fee refund?
- Does the insurance company provide 24 hours emergency services?
- Are you covered if you participate in school outing, sports competition or other activities?
- Is your insurance company present/familiar with the country you are traveling to?
We recommend that you buy insurance — but make sure you find the insurance product that matches your needs!
Image credit: Aaron Escobar