Skip to main content

Student travel insurance

Tax Saving Mutual Funds Online

Current open Infra Bond Application form

There are travel covers designed specifically for 16 to 35-year-olds Generally, there are sub-limits for certain features on these insurance policies

TRAVEL insurance is important because it takes care of emergencies or adverse conditions that could come up in the future while you are travelling. Travel insurance provides coverage for medical emergencies and other losses that might occur from the time a person leaves his/her country to the time the traveller returns back home.

Student travel insurance: These plans are specifically designed for students in age group from 16 to 35 years going abroad to study.

Typically, student travel insurance covers accidents, medical expenses, emergency evacuation, checked baggage loss, loss of passport, personal liability, study interruption due to medical reasons, compassionate visit, bail bond, cancer screening and mammography examinations.

The covers offered differ from the regular travel insurance because they are tailor-made to meet the needs of students and also cover university requirements.

Keeping in mind the fact that the student is away from home, some additional benefits are included, such as sponsor protection, two way compassionate visits or study interruption coverage.

Generally, a student policy can be issued for a maximum period of one year at a stretch, and can be extended for an additional two years, subject to a new 'good health, no claim' declaration by the student every year. Assuming the course duration is five years, the policy can be extended up to the time of course completion, subject to additional 'good health, no claim' declaration and standard travel underwriting guidelines.

Some universities such as those in the US, Australia or Schengen countries have a mandatory requirement of an insurance policy at the time of applying for the course. Even if the university or country does not insist on insurance, it is advisable to buy a cover from India, since the medical costs and healthcare expenses are much higher in the developed countries.

Although, students can buy a similar policy from their universities, there is a significant cost difference between purchasing a policy from India for similar coverage and one that the university offers under its plan.

The student must also ensure that the policy coverage is comparable with the minimum health insurance requirements stipulated by the university.

Filing a claim: The process of registering a claim is very much the same as in India.

In the event of any medical or non-medical emergency, the student needs to register the claim at helpline numbers for availing any assistance and claim registration. Insurers offer both reimbursement and cashless services, in case of medical claims. However, to avail cashless benefits, students must carry his/her student identity proof and copy of the policy.

Generally, there are sub-limits for certain features on these insurance policies.

Supposing a student has taken a policy with sum insured of $25,000 and he/she avails a two-way compassionate trip, these would be treated as two claims triggered in the policy, one against medical expenses benefit and the other against the compassionate visit benefit.

Costs: Premium depends on the country chosen because the policy is priced keeping in mind the healthcare costs in the visiting country. Travel insurance premium for the US-bound students is most expensive.

For example, a one-year student travel policy from Tata AIG, for a student travelling to the US for university education with coverage of $50,000, the premium is Rs 20,199, while a policy with same features and same sum assured for student travelling to other countries will cost Rs 8,419.

 

 

---------------------------------------------

Invest in Tax Saving Mutual Funds ( ELSS Mutual Funds ) to upto Rs 1 lakh and Save tax under Section 80C.

 

Invest Tax Saving Mutual Funds Online

Tax Saving Mutual Funds Online

These links can be used to Purchase Mutual Funds Online that are regular also (Investment, non-tax saving)

 

Download Tax Saving Mutual Fund Application Forms from all AMCs

Download Tax Saving Mutual Fund Applications

 

These Application Forms can be used for buying regular mutual funds also

 

Some of the best Tax Saving Mutual Funds available ( ELSS Mutual Funds )

  1. HDFC TaxSaver
  2. ICICI Prudential Tax Plan
  3. DSP BlackRock Tax Saver Fund
  4. Birla Sun Life Tax Relief '96
  5. Reliance Tax Saver (ELSS) Fund
  6. IDFC Tax Advantage (ELSS) Fund
  7. SBI Magnum Tax Gain Scheme 1993
  8. Sundaram Tax Saver

---------------------------------------------

Application form for Tax Saving Infrastructure Bond and more information

Current open Infra Bond Application form

 

Submit filled up application    Collection canter near you

Popular posts from this blog

Tata Mutual Fund

Being a part of the Tata group, the fund has the backing of a very trusted brand name with strong retail connect. While the current CEO has done an excellent job in leveraging the Tata brand name to AMC's advantage, it is ironic that this was just not capitalised on at the start. Incorporated in 1995, Tata Mutual Fund remained an 'also-ran' fund house for around eight years. Till March 2003, it had a little over Rs 1,000 crore in assets and 19 AMCs were ahead of it. But soon after that the equation changed. It was the fastest growing fund house in 2004 and 2005. During these two years, it aggressively launched six equity funds, two debt funds and one MIP. The fund house as of now stands at No. 8 in terms of asset size. This fund house has a lot to offer by way of choice. And, it also has a number of well performing schemes. Tata Pure Equity, Tata Equity PE and Tata Infrastructure are all good funds. It also has quite a few good debt funds. The funds of Tata AMC are known to...
Read more

UTI Mutual Fund

Even though only a few of UTI’s funds are great performers, this public sector fund house has many advantages that its rivals do not. It has a huge base of retail equity investors and a vast distribution network. As a business, it looks stronger than ever, especially in the aftermath of credit crunch. UTI is, by a large margin, the most profitable fund company in the country. This is not surprising, since managing equity funds is more profitable than debt. Its conservative approach and stable parentage is likely to make it look more attractive to investors in times to come. UTI’s big problem is the dragging performance that many of its equity funds suffer from. In recent times, the management has made a concerted effort to improve performance. However, these moves have coincided with a disastrous phase in the stock markets and that has made it impossible to judge whether the overhaul will eventually be a success. UTI’s top performers are a few index funds, some hybrid funds and its inf...
Read more

Salary planning Article

1. The salary (basic + DA) should be low. The rest should come by way of such allowances on which the employer pays FBT and you don't pay any tax thereon. 2. Interest paid on housing loan is deductible u/s 24 up to Rs 1.5 lakh (Rs 150,000) on self-occupied property and without any limit on a commercial or rented house. 3. The repayment of housing loan from specified sources is also deductible irrespective of whether the house is self-occupied or given on rent within the overall ceiling of Rs 1 lakh of Sec. 80C. 4. Where the accommodation provided to the employee is taken on lease by the employer, the perk value is the actual amount of lease rental or 20 per cent of the salary, whichever is lower. Understandably, if the house belongs to a family member who is at a low or nil tax zone the family benefits. Yes, the maximum benefit accrues when the rent is over 20 per cent of the salary. 5. A chauffeur driven motor car provided by the employer has no perk value. True, the company would...
Read more

8 Investing Strategy

The stock market ‘meltdown’ witnessed since the start of 2005 (notwithstanding the recent marginal recovery) has once again brought to the forefront an inherent weakness existent in our markets. This is the fact that FIIs, indisputably and almost entirely, dominate the Indian stock market sentiments and consequently the market movements. In this article, we make an attempt to list down a few points that would aid an investor in mitigating the risks and curtailing the losses during times of volatility as large investors (read FIIs) enter and exit stocks. Read on Manage greed/fear: This is an important point, which every investor must keep in mind owing to its great influencing ability in equity investment decisions. This point simply means that in a bull run - control the greed factor, which could entice you, the investor, to compromise with your investment principles. By this we mean that while an investor could get lured into investing in penny and small-cap stocks owing to their eye-...
Read more

Debt Funds - Check The Expiry Date

This time we give you an insight into something that most debt fund investors would be unaware of, the Average Portfolio Maturity. As we all know, debt funds invest in bonds and securities. These instruments mature over a certain period of time, which is called maturity. The maturity is the length of time till the principal amount is returned to the security-holder or bond-holder. A debt fund invests in a number of such instruments and each of these instruments would be having different maturity times. Hence, the fund calculates a weighted average maturity, which would give a fair idea of the fund's maturity period. For example, if a fund owns three bonds of 2-year (Rs 30,000), 3-year (Rs 10,000) and 5-year (Rs 20,000) maturities, its weighted average maturity would be 3.17 years. What is the big deal about average maturity then, you may ask. Well, knowing a fund's average maturity is important because it tells you how sensitive a fund is to the change in interest rates. It is ...
Read more
Related Posts Plugin for WordPress, Blogger...
Invest in Tax Saving Mutual Funds Download Any Applications
Transact Mutual Funds Online Invest Online
Buy Gold Mutual Funds Invest Now