Why a Student Travel Insurance Policy is important

shutterstock_719003161When studying overseas, any number of unforeseen events can seriously disrupt your studies. You can fall sick, get into an accident or lose a close family back home. The emotional impact of these incidents are considerable, especially in the middle of your studies. The financial burden however add another element of stress that, as a student, you should not have to deal with.

On average, university students face significant expenses. There are not only limited to rising tuition fees, but also for accommodation, bills and other service charges, books, food etc. Every now and then, unplanned expenses may materialise which are beyond the regular budget of a student.

Unforeseen expenses

Medical expenses are hard to budget for, as treatments may differ, with no standard or fixed prices. The cost for hospitalisation is exceptionally high as in-patients are charged for room occupancy and other service charges, in addition to the treatment they receive. Depending on the illness or injury, students may be required to follow regular out-patient treatment.

Legal representation is likely one of the least cause of concern for students, but an important one, nevertheless. Parents should be under no illusion as to what their children can be up to when they are far from home. While many find this new independence liberating, some may find themselves on the wrong side of the law by taking things a little too far. It goes without saying that good legal representations can be costly.

Lost baggage or passport

Life is complicated enough without the absurdity of lost baggage, but here we are. Student allowances are generally just enough to cover daily and continuous needs. To replace an entire wardrobe because of airport mishaps should not strip away from what is budgeted for food and other basic necessities. Students also have deposits to pay for accommodation and services installment, such as internet when they first move in.

Emergency return home

Sadly, on rare occasions, some students will receive a dreadful call from home with terrible news – a close family member has passed away. Students have no choice but to return home to pay final respects and bid farewell to their loved ones. Unfortunately, this is one of those events that you are least likely to budget or have the finances for. The cost of airfares are usually higher for last minute booking and the greater the distance, the higher the fare.

All this to say, a Student Travel Insurance policy is a must for an overseas student. By budgeting a nominal amount per month as part of regular expenses, all those unforeseen ones can be easily taken care of. Parents have an obligation to ensure that their children are insured whilst on overseas studies. In fact, many countries oblige foreign students to purchase their insurance before they enter the country of destination.

For more information on the Student Travel Insurance, call us on (+248) 429 5000, visit our website https://www.sacos.sc/here-for-you/student-travel-insurance/ where you can download our brochure/request a quote, send an email to info@sacos.sc or visit us at any of our branches on Mahé and Praslin.



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