Tata AIG unveils package cover for overseas studies  ( December '19,2002, ET)

Tata AIG General Insurance Company has come out with a unique package cover for students travelling overseas for higher studies which provides cover much beyond those available in the standard overseas mediclaim and travel policies.

Special features of the cover `Student Guard’ include Study Interruption Cover and Compassionate Visit Cover in addition to the standard travel and health protection. Moreover, if the person sponsoring the student’s overseas study suffers an accidental death or disability the policy will take over the remaining school expenses for the period of semester.

The Study Interruption Cover is essentially a refund of tuition fees where a student is forced to quit his course halfway after paying fees on account of health reasons or on compassionate grounds.

The policy comes with a basic non-medical Sickness Plan with an option of adding an upgraded Sickness Medical Cover. Medical cover has been made optional because many foreign universities make it mandatory for the student to take the Sickness Medical Cover from them.

The policy also offers 24 hours worldwide emergency medical assistance service, emergency medical evacuation, and repatriation of remains in case of death.

This cover is available to those within the age of 16 and 35 years who are enrolled and attending full-time registered educational institution of higher learning abroad.

The basic plan known as the Medical Plan providers reimbursement of the actual cost of hospitalisation or outpatient treatment within 90 days from the date of the accident.

If the insured-student is hospitalised for more than seven consecutive days, this policy covers the cost of an immediate family member to be with the student.

The cost of a round-trip economy class air ticket and accommodation expenses is covered. In the event of death or hospitalisation (again for more than seven consecutive days) of the parents, spouse or children of the student, this policy covers the cost of a round-trip.

Other additional covers provided by the policy include a Personal Liability Cover of up to $100,000, Felonious Assault Cover of up to $25,000, Bail Bond Cover of up to $5,000 and Loss of Checked Baggage Cover of up to $1,000.