Having a robust health insurance plan is crucial for students in India to secure their health and finances while focusing on their education. With rising medical costs, an unexpected illness or injury can derail a student’s education and lead to massive financial burdens on their families. Health insurance helps students mitigate these risks.
This article highlights the key benefits of health insurance plans tailored specifically for students in India.
Why Health Insurance is Essential for Students
Students lead active lifestyles filled with academics, extracurriculars and social activities. This makes them prone to health issues like viral infections, injuries, mental health problems etc. Most colleges provide basic health cover but it is usually inadequate.
Students need comprehensive plans to get complete coverage of hospitalization costs, OPD expenses, tests, ambulance charges etc. Use the online calcolatrice online to find the best health insurance plan for students in India at very suitable prices.
Some key reasons why students need special health insurance plans are:
- Financial Security Against Medical Emergencies
- Cashless Treatment at Network Hospitals
- Cover for Pre-Existing Illnesses
- Maternity Covers and Newborn Baby Policies
- OPD Covers and Free Health Check-ups
- Mental Health Care Coverage
Financial Security Against Medical Emergencies
With exponential rise in healthcare costs, an accident, surgery or hospital stay can lead to bills of lakhs of rupees, which most students/families can’t afford. Health insurance protects students from such financial catastrophes.
Cashless Treatment at Network Hospitals
Many student health plans provide cashless hospitalization where the insurer directly pays the hospital. This avoids students having to arrange for finances during medical emergencies.
Cover for Pre-Existing Illnesses
Many pre-existing health conditions like asthma, thyroid etc. are detected during college years. Health plans with coverage for pre-existing diseases ensure continuum of treatment for students.
Maternity Covers and Newborn Baby Policies
Plans with maternity benefits allow students to embrace motherhood without financial stress. Newborn baby coverage also safeguards the infant’s health.
OPD Covers and Free Health Check-ups
Plans that cover OPD expenses, dental treatments, spectacles, health checkups etc. help students take care of routine health needs without payment hassles.
Mental Health Care Coverage
Mental health issues like anxiety, depression and eating disorders are rising among students. Insurers now offer counseling, therapy and psychiatry covers to provide timely care.
Key Benefits of Student Health Insurance Plans in India
Some of the most important benefits provided by specialized health insurance plans for students include:
1. Comprehensive Hospitalization Cover
Plans offer sum insured from ₹0.2 lakhs to ₹10 lakhs for covering hospital stays. This covers room charges, ICU charges, surgeon fees, OT charges, nurse expenses, medicines, diagnostics etc. Some policies have unlimited cover for certain expenses.
2. Cashless Claims at 3500+ Network Hospitals
Students get cashless facility at 3500+ associated hospitals. The insurer directly pays the hospital through a pre-approved limit. This avoids financial stress during hospitalization.
3. Day Care Treatments are Covered
Advanced procedures like dialysis, chemotherapy, cataract surgery etc. that require less than 24-hour hospitalization are covered. These treatments are expensive otherwise.
4. Protection Against Lifestyle Diseases
Lifestyle illnesses like diabetes, thyroid, PCOD, hypertension etc. are on the rise among youth. Many plans cover screening, treatment and hospitalization costs related to these diseases.
5. Annual Health Check-ups
Insurers empanelled hospitals provide one free general health check-up per year to monitor vitals and identify health risks early. This motivates students to get preventive care.
6. Domiciliary Treatment Coverage
If a student falls severely ill while at home during breaks, plans provide cover for medical expenses of treatment at home. The sum insured for domiciliary hospitalization is generally 20% of the base cover.
7. Ambulance Charges Covered
In case of an emergency, students can call insured ambulance services to transport them to network hospitals Cashless facility is also provided on ambulance expenses up to a certain limit.
8. Tax Benefits for Premiums
Premiums paid for health insurance enjoy income tax benefits under Section 80D. This makes policies more affordable for working students or parents paying premiums.
9. OPD Treatment Covers
Many plans cover OPD expenses like doctor consultations, prescribed medicines, diagnostics, dental care, spectacles, medical devices etc. either fully or up to a certain limit. This provides comprehensive coverage beyond hospitalization.
10. Shared and Individual Covers
Both individual plans for one student and family floater plans covering multiple students in the family are available. The latter works out more economical for families with more than one student.
Top Health Insurance Providers for Students
Some leading insurers providing specialized health plans for students include:
- Star Health Insurance: Offers Star Student Health and Medi-Classic Insurance policy with covers starting ₹50,000. Cashless facility available at 4000+ hospitals.
- HDFC ERGO: Provides Student Suraksha Pro and Student Suraksha Plus policies with comprehensive hospitalization and OPD covers. 5000+ network hospitals.
- New India Assurance: NIA Student Health Insurance Scheme offers covers from ₹2 lakhs to ₹10 lakhs. Cashless access at 6500+ hospitals pan-India.
- Max Bupa: Max Bupa Student Companion and Health Companion Team insurance policies provide OPD covers and restoration benefit to reinstate base sum insured.
- ICICI Lombard: Provides comprehensive Student Guard and Health Booster policies with OPD covers, personal accident benefit etc. Range of sum insured from ₹1 lakh to ₹10 lakhs.
- Bajaj Allianz: Offers Student Guard insurance with sum insured options from ₹1 lakh to ₹10 lakhs. Cashless network of 8000+ hospitals. Range of OPD covers provided.
- Care Health Insurance: Care Student Care policy offers sum insured up to ₹5 lakhs. Provides OPD cover of up to ₹15,000 and maternity benefit of ₹50,000.
Health insurance is a critical investment for students to safeguard themselves against medical contingencies that may impact their education and family savings. Comprehensive student-centric plans that cover hospitalization, pre and post-hospitalization, OPD, day care procedures, domiciliary care, ambulance, pre-existing illnesses and mental health counselling are ideal. Leading insurance providers offer policies with ample features at reasonable premiums. Students must evaluate their needs and choose plans accordingly for financial security and peace of mind.
Frequently Asked Questions
Why do students need special health insurance plan vs regular health plans?
Student health plans offer covers tailored to the needs of students, like low premiums, caps on room rent, maternity covers, mental health care, coverage for adventure sports injuries etc. They have relaxed underwriting too. Regular health plans may lack these features or be expensive.
How much sum insured should students opt for?
Sum insured of ₹2-5 lakhs is sufficient for most students. Final amount can be determined by family medical history, lifestyle diseases, projected costs at preferred hospitals etc. Higher covers of ₹10 lakhs can be considered if affordable.
Do student health plans cover accidents and injuries?
Yes, expenses like emergency room charges, surgery, diagnostics, ICU care, rehabilitation etc. associated with accident and injury treatments are covered, subject to terms and limits of the policy.
Can students port their health policy after graduation?
Yes, students can port or migrate their policy to another insurer after graduation while retaining continuity benefits like waiting periods and coverage for pre-existing diseases.
Can student policies be converted to family floater policies?
Yes, at the time of renewal student plans can be converted into regular family floater policies by paying the applicable premium difference and submitting requisite documents.