PIRATEStudy Abroad Student Insurance offers a safety net that stops financial wreck when a person needs standard medical attention. It also offers preventative treatment, which is one of the most vital aspects of health.
Therefore, in this piece, we will be examining all the insurance a foreign student needs before registering to study abroad.
Brief Note On Study Abroad Student Insurance
Insurance is a way of avoiding financial ruin via protection. It is a trick for managing risks. Its basic use is primarily used to stop the risk of a loss that is either incidental or capricious.
However, Insurance is offered by bodies and they are regarded either as an insurer, insurance companies, insurance carriers,s or underwriters.
Also, an individual or body that acquires insurance is referred to as a policyholder or an insured. In the insurance business, there is the involvement of the insured taking on the adoption of a guaranteed and known relatively little loss in the form of payment to the insurer in exchange for the promise by the insurer to see to the reward of the insured in the event of a covered loss.
Furthermore, the loss may either be monetary or not monetary, but it is compulsory to be reducible to monetary 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 an insurance policy is accepted by the insured and bears the details of the limitations and circumstances under which the insured will be rewarded by the insurer.
Also, the term premium is the amount of money paid to the insurer to the insured/ policyholder for the coverage set forth in the insurance policy. If a loss occurs to the insured which happens to have the spirit covered by the insurance policy, a demand is submitted by the insured to the insurer for processing by a demands adjuster.
Its own risk may be evacuated by the insurer by taking out reinsurance, whereby there is an agreement by another insurance company to carry some of the dangers, especially if the danger is deemed too hard by the primary insurer to bear.
Brief History of Insurance
Since early times, the seek for ways to see to the minimization of dangers has been on merchants.
Consequently, the trial of procedures for transferring or distributing danger was done by traders of Chinese and Babylonian origin as long ago as the 3rd and 2nd millennia BC, specifically. There was the redistribution of wares throughout many vessels by Chinese merchants traveling dangerous river rapids.
So, this was geared at restricting the loss due to any single vessel’s capsizing. A system was produced by the Babylonians which was recorded in the famous Code of Hammurabi, C. 1750 BC, and exercised by Mediterranean sailing merchants of ancient times. If a grant was received by a merchant for the sponsoring of his shipment, the lender was to receive an additional sum as a payment in exchange for the lender’s guarantee to cancel the grant per peradventure the shipment be stolen or lost at sea.
So, the ‘general standard‘ was designed Circa 800 BC, by the occupants of Rhodes. Through this, a number of merchants were permitted to pay to insure their goods were being shipped together. The charged premiums would be used to reward any merchant whose goods were dropped during transport, whether due to storm or sinkage with payment.
However, the discovery of separate insurance contracts came from Genoa in the 14th century, likewise insurance pools backed by donation of landed estates. Separate insurance is insurance policies not bundled with grants or other types of contracts. The first known insurance contract was introduced from Genoa in the year 1347, and the next century that followed had wide improvement in maritime insurance and there was an intuitive variation of premiums dangers.
So, through these new insurance contracts, insurance was disconnected from investment, a separation of duties that its usefulness was first proved in marine insurance.
Kinds of Study Abroad Student Insurance
- Student Health
- Travel Medical
- Major Medical
- Student zone
Foreign Student Insurance
Foreign student insurance concentrates on health and travel insurance geared at fitting the unique needs of the study abroad and foreign students, at the most bearable rate imaginable.
Study Abroad Student Insurance
Over time, making sure that one has a standard health and travel insurance plan in place is sometimes not near the utmost prior of foreign students not to talk of being the highest priority of students who want to study abroad. The mindset of most students needing coverage does not matter to them, or they may just have it left to the last minute and not have the time to find the best choice by going through all the plans. This research is geared at locating a range of plans that are best for students studying abroad and providing the highest quality coverage at a good price.
Study Abroad Student Insurance Hacks
So in examining study abroad insurance, many plans possible will be known to you. We’ve got a few hacks to assist you to look for and get the perfect insurance plan:
- All ratings of all insurance carriers are by either AM Best or Standard and Poors. Some nations place a requirement on your insurance plan being rated above a certain position so be sure to have this checked out.
- Ensure you have gone through the exclusions. Exclusions are subjects not covered by an insurance policy. All plans do have exclusions, some will be more rigid than others. To that effect, be sure to check them out and ensure you comprehend what is not covered under the plan. This will help you to decide which plan to go for.
- Does the plan participants in a network? Some plans have a network known as PPO, which happens to be a network of doctors/ hospitals, and their criteria are that one visits these providers, and other plans will not place any restrictions on such on you. So, this needs to be checked out.
- 24-hour help. The standard time/duration on all plans taken for a help service is 24 hours. Most plans will provide you with a 24-hour help service while others won’t. Hence, ensure that you can simply call them from your home country.
- How demands are paid. A pay upfront, claim back later procedure may be adopted by all insurance plans, but foreign 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 guarantee plan is an international student health insurance plan that is usually fixed for a month. It is ideal for students who are undertaking a foreign program outside of the USA. The fantastic privileges provided by the plan include hospitalization coverage, prescription medication, doctors’ visits, mental health coverage, maternity, sports coverage, evacuation, and 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 provided by the student for a monthly payment and do not expect benefits such as mental health, maternity, etc., the Atlas foreign plan is ideal for such students who are looking for more travel-related advantages. The plan can be bought from 5 days up to 1 year and can be renewed if one buys a minimum of 3 months in the beginning. The plan offers settlement for the following, hospitalization, doctor’s visits, prescription medication, evacuation, repatriation, trip interruption, and lost luggage to mention but a few.
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Student Health
Foreign students studying in the United States of America and all over the world, as well as US Students studying overseas, are offered worldwide health insurance sponsorship.
The StudentSecure, a foreign student health insurance plan, is created for study abroad and foreign students and is possible 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 total of $200,000
$50 deductible in PPO
Smart has 80% coinsurance
It starts from $24/month
Budget
It has a total of $500,000
$45 deductible in PPO
Budget has 80% coinsurance up to $25,000
It starts from $35/month
Select
It has a total of $600,000
$35 deductible in PPO
Budget has 80% coinsurance up to $5,000
It starts from $66/month
Elite
It has a total of $1,000,000
$25 deductible in PPO
Budget has 100% in PPO
It starts from $93/month
Benefits
Foreign and study abroad students have the Student Secure, Foreign Student Health Insurance plan made available to them in four main plan levels; Smart, Budget, Select, and Elite. Different coverage limits are provided by each plan level. The Smart is the cheapest of the three plans and the Elite is 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 are 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.”
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Pre-existing Condition means any…
- 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
- The condition that had been made manifest in such a manner that would have caused a reasonably prudent person to look out for medical advice, diagnosis, care, or treatment (including receiving services and supplies, consultations, etc.) during the 12 months immediately preceding the effective date of the certificate;
- 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 students, 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 that are not within control can cause the timeliness of arrangements. These circumstances include the 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
However, 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 by external, visible means resulting in physical injury to you and your subsequent death. It surfaces by means of a sudden, unintentional, and unexpected occurrence. Death is mandated to arise 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.
Also, the person who is to benefit from this insurance is the person 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 payments for the following conditions
- Illnesses present from birth (Congenital)
- Disorders of mental health, if the treatment is administered at a student health center
- Physical therapy, if the student obtains treatment at a student health center
- Chiropractic treatment, if treatment is not obtained at a student health center.
- Elective termination of pregnancy.
- Promotion or obstruction of conception
- Venereal disease, including all diseases transmitted through sexual intercourse and conditions relating to it.
- Transplants of organ or tissue or related services.
- Voluntarily using any drug unless under the prescription of a physician.
- Eye surgery, such as surgery relating to corrective refractory, is when the primary purpose is to correct nearsightedness, farsightedness, or astigmatism.
- Corrective devices and medical appliances
- Orthoptics and training on the eye.
- Hair loss including wigs, hair transplants, or any drug prescribed or not, that causes hair growth
- Acne, skin tags, moles, diseases of sebaceous glands, seborrhea, sebaceous cyst, hypertrophic and atrophic conditions of the skin, nevus.
- Sleep disorders such as apnea, etc.
- Psychometric, competency, intelligence, behavioral, and educational testing.
- Cosmetic or aesthetic reasons
- Exercise programs, whether with a prescription or recommendation by a physician.
- Incurred due to exposure to non-medical nuclear radiation and/or material(s) that are known to be radioactive.
- Payments 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 has failed to depart the country or location.
- Investigational, experimental, or for purposes on a research basis.
- Complicated health problems that may occur or consequences of a treatment or condition not covered here under.
- Encountered outside the certificate period of a student.
- Submission to the insurers for payment more than 60 days after the last day of the certificate period.
- Exceeding usual, reasonable, and customary.
- No medical treatment is administered by or ordered by a physician.
- Offered by a relative, a member of your family, or any individual who lives with you.
- Offered to a foreign student at no charge.
- Consultations via mobile phone or not meeting up with a scheduled appointment.
- When one vacant from the native nation for the purpose of receiving treatment in the destination nation/nations
- Payable under any structure of government, including the Australian Medicare system.
- War, military service, or while performing one’s obligation as a member of a police or military.
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Conclusion
We recommend a Study Abroad Student Insurance for you. With this passage, it is obvious how beneficial foreign/study abroad students’ insurance coverage is. So, get insured immediately!
PIRATE