Overseas Study Insurance: all-round protection for your children abroad

In recent years, more and more parents in Hong Kong have sent their children to schools abroad in the hope that they will become more independent by being exposed to a different culture.

According to a survey by the Education Bureau, the number of students pursuing overseas studies in 2020 increased sharply by 40% compared with the previous year. Interestingly, the absolute number accounts for 14% of the total secondary six population in Hong Kong.

When away from home, students and parents alike can find themselves worrying about managing medical illnesses, property loss, flight delays and accidents. With a number of challenges lurking ahead, parents should consider taking out an overseas study insurance policy to provide comprehensive coverage for their children studying abroad. That way, students can focus on their studies and enjoy different cultural experiences while staying free from anxieties about any accidents or unexpected events.

For students overseas – and their families back home – there is nothing more worrying than falling sick and having an accident while abroad. In light of this, overseas study insurance covers personal accident and medical expenses if the insured students are injured or become ill. It is worth noting that the details of medical expenses coverage can differ across various insurance products. For example, some may include coverage for overseas hospitalization and clinic consultation, and extend that to follow-up appointments and Chinese medicine treatments back in Hong Kong.

Moreover, overseas study insurance protects students from common incidents in their everyday lives. Accidental loss of or damage to personal belongings, such as cash, mobile phones, and tablets, are covered.

Certain overseas study insurance policies also includes coverage for flight delays based on the number of hours delayed, plus additional expenses for transport and accommodation. This type of coverage is often extended to cover departures, ancillary trips or return trips. Furthermore, overseas study insurance covers injuries arising from dangerous sports, such as skiing, horse-riding and diving. Insurance companies also provide a 24-hour assistance hotline and emergency medical evacuation to ensure young people can explore the world worry-free.

Overseas education is a serious financial commitment. Even the soundest of financial circumstances can be affected if parents themselves are injured or have an accident. Therefore, some overseas study insurance plans provide education fund coverage to help insured students to continue their education if such a situation arises.

Certain overseas study insurance plans offer up unused tuition, travel and accommodation expenses coverage for any unanticipated events that lead to studies being interrupted or cancelled. There are often subsidies available if schools are forced to close due to natural disasters or because of local government policies or actions.

It is worth remembering that there are differences in the scope of coverage, and terms and conditions, between various policies available on the market. A common example is that some policies require the insured student to be located in Hong Kong at the time of initiation, or that the location of departure is Hong Kong.

Customers should carefully review the policy coverage, as well as the terms and conditions. It goes without saying that planning is essential to making any period of overseas study meaningful. Adding overseas study insurance creates an extra layer of safety and grants peace of mind for all.

If you have any queries regarding Overseas Study Insurance, please feel free to contact us or find out more about our insurance plans:

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