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

ULIP Review: ProGrowth Super II

  If you are interested in a death cover that's just big enough, HDFC SL ProGrowth Super II is something worth a try. The beauty is it has something for everybody — you name the risk profile, the category is right up there. But do a SWOT analysis of the basket, and the gloss fades     HDFC SL ProGrowth Super II is a type-II unit-linked insurance plan ( ULIP ). Launched in September 2010, this is a small ticket-size scheme with multiple rider options and adequate death cover. It offers five investment options (funds) — one in each category of large-cap equity, mid-cap equity, balanced, debt and money market fund. COST STRUCTURE: ProGrowth Super II is reasonably priced, with the premium allocation charge lower than most others in the category. However, the scheme's mortality charge is almost 60% that of LIC mortality table for those investing early in life. This charge reduces with age. BENEFITS: Investors can choose a sum assured between 10-40 times the annualised premium...
Read more

Section 80CCD

Top SIP Funds Online   Income tax deduction under section 80CCD Under Income Tax, TaxPayers have the benefit of claiming several deductions. Out of the deduction avenues, Section 80CCD provides t axpayer deductions against investments made in specific sector s. Under Section 80CCD, an assessee is eligible to claim deductions against the contributions made to the National Pension Scheme or Atal Pension Yojana. Contributions made by an employer to National Pension Scheme are also eligible for deductions under the provisions of Section 80 CCD. In this article, we will take a look at the primary features of this section, the terms and conditions for claiming deductions, the eligibility to claim such deductions, and some of the commonly asked questions in this regard. There are two parts of Section 80CCD. Subsection 1 of this section refers to tax deductions for all assesses who are central government or state government employees, or self-employed or employed by any other employers. In...
Read more

Am you Required to E-file Tax Return?

Download Tax Saving Mutual Fund Application Forms Invest In Tax Saving Mutual Funds Online Buy Gold Mutual Funds Leave a missed Call on 94 8300 8300   Am I Required to 'E-file' My Return? Yes, under the law you are required to e-file your return if your income for the year is Rs. 500,000 or more. Even if you are not required to e-file your return, it is advisable to do so for the following benefits: i) E-filing is environment friendly. ii) E-filing ensures certain validations before the return is filed. Therefore, e-returns are more accurate than the paper returns. iii) E-returns are processed faster than the paper returns. iv) E-filing can be done from the comfort of home/office and you do not have to stand in queue to e-file. v) E-returns can be accessed anytime from the tax department's e-filing portal. For further information contact Prajna Capit...
Read more

Bharat Bond ETF

Top SIP Funds Online   The government of India has paved the way for the launch of India's first corporate bond ETF called as Bharat Bond ETF. Edelweiss Mutual Fund will be managing it. The fund is mandated to invest in AAA-rated bonds of select public sector companies (see the table 'List of constituents and their proportions in the portfolio'). The government has a threefold objective behind launching this product. One, to deepen the liquidity of the Indian debt markets and provide a gateway for easy retail participation. Two, to solve investors' dilemma of picking premium bonds. Lastly, to help the underlying government-owned companies raise funding for their operations. But does it make sense for you, the investor, to invest in it? Lets find out. What is the product? As the name suggests, it is an exchange-traded fund which will be listed on a stock exchange from where its units can be bought and sold post launch. It will have two variants - one maturing in 3 ye...
Read more

What is Electronic Clearing Service (ECS)?

  As the name suggests, it's an electronic process through which money can be transferred from one bank account to another. According to RBI, this mode is usually used for regular payments and receipts, like distribution of dividend, interest, salary, pension etc. This mode is also used for collection of bills for telephone, electricity, water, various types of taxes, payment of EMIs , investments in mutual funds , payment of insurance premium etc. There are two types of ECS , like most other banking transactions, ECS credit and ECS debit. An ECS credit is used by a bank account holder , usually a large company or an institution for services like payment of dividend, in terest, salary, pension etc. If your mutual fund pays you dividend to your bank account, of all probability it is being paid through ECS credit.ECS debit, on the other hand, is used when a company or an institution is getting money from a large number of people. For example if you are investing in a mutual fund sc...
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