Students Insurance
Submitted by ciby on Sat, 20/07/2013 - 11:03
Getting admission for a child at a prestigious educational institution is every parents' dream. All of us want quality education for our children. Admission to a good institute requires us to make arrangements for the cost of education. Most of us save throughout our career to ensure that the ever increasing cost of education is met.
What if the providing parent or guardian of the child meets with an unfortunate, untimely death? What if over the course period the providing individual is disabled totally that he cannot meet the education cost? We need to be prepared for such eventualities when it come to our child's education.
There are insurance policies which ensure uninterrupted education of the child in these unfortunate events. This policy covers the various cost of education like tuition fee, hostel and boarding expenses, cost of books, examination, and uniform and various other expenses as recommended by the institution. It also covers the cost of to and fro 2nd class rail fare for the student to attend the place where the parent has met with the covered accident or the place as stated in schedule where the Insured parent/guardian resides, after the covered accident occurs. However, donation/capitation fees are not payable under this policy. The sum insured available under this policy is upto Rs 10 lakhs.
The parent or the guardian who pays for the education and is between the ages 22 to 70 yrs can avail this policy for their 2 children. The age of the covered children must be between 4 and 25 yrs and the cover can be taken for a maximum course period of 5 years.
This policy will provide the above mentioned costs payable to the institute as a result of the death due to accident or death as a result of surgical operation of a parent/legal guardian and permanent total disablement (PTD) to the same. It does not cover death or PTD to the parent/guardian owing to self injury or suicide, war, and invasion.
This product can also be availed by educational institutions to cover their entire student body so as to ensure that their students continue the education and does not drop out as a result of non ability to pay the prescribed fee. In such cases this product would be covering all the named students of the institution and group discounts are offered on the premium based on the size of the group.
This product is currently being offered by several leading general insurers in India
- Log in to post comments
