Overseas study visas: What you need to know about insurance requirements

Hong Kong is home to some of the world’s leading universities and our higher education institutions are hugely popular with international students. But for many young Hong Kong people, the lure of pursuing academic greatness abroad is simply too much to resist. So much so, in fact that there are currently 36,100 students from Hong Kong studying abroad, according to UNESCO. The agency also reports that the most popular destinations for higher education abroad are the UK, Australia, the USA and Canada, with fewer numbers opting to study in South Korea, Germany and Ireland.  

For many youngsters in our city, getting confirmation of a place at their overseas institution of choice is the culmination of a lifelong dream and sheer hard work. But that’s only the beginning of the journey. There’s a lot to consider, including finances, finding accommodation and, perhaps most importantly, securing the all-important study visa. But did you know that while each country has slightly different requirements for study visas, most require some form of private insurance? In this article, we’re going to focus on two of the most popular destinations to demonstrate how systems can vary wildly depending on where you choose to study.

At the top of the list of destinations for Hong Kong students studying abroad is the UK, famed for the “dreaming spires” of the elite Oxford University, plus its equally prestigious rival Cambridge. Overseas students love many of the UK’s university cities, and the country’s higher education institutions regularly sit near the top of global rankings.

It might surprise you to learn that international students, as legal residents, can benefit from the country’s National Health Service (NHS) in the same was as British citizens. However, when applying for your study visa, you will have to pay a surcharge so you can register with the NHS. And while you technically don’t need insurance for most treatment, you will need to pay a yearly fee. It’s also worth bearing in mind that waiting times for more serious conditions can be long.  

Another top destination for Hong Kong students is the USA, home to the world-famous Ivy League of top-ranking universities, which includes Harvard and Princeton. For many, the chance to study at these elite universities is a life-changing experience. The country is also popular among students for its incredible natural scenery, diverse cities and melting-pot, vibrant cultures.

But when it comes to healthcare options for international students, the USA and the UK couldn’t be further apart. The USA has no universal healthcare system, and costs of even simple procedures, such as having an X-ray, can be prohibitively expensive for students. And it isn’t just medical bills that can add up. While the USA is undoubtedly a great place to study, the most common crimes international students face are burglaries and petty theft, which means you need to keep those valuables safe at all times.

Whether you’re considering the UK or the USA, or Australia, which requires specific Overseas Student Health Cover, or Canada, which has free healthcare – but only for Canadian citizens and permanent residents, it’s sensible to get insured before you leave Hong Kong.

MSIG’s Overseas Study Insurance plan comes in two options – with or without coverage for medical expenses. So if you are studying in the UK and are happy to rely on the NHS, you can select the Basic Plan, which still protects you from financial loss in other situations, like theft. If you are studying in the USA or Canada, the Premier Plan might be more appropriate as it covers medical expenses should you need treatment as an outpatient.

Regardless of the tier, the Overseas Study Insurance plan gives ample coverage for your personal belongings. For example, while studying in Sydney, Australia, you go on a road-trip adventure with friends down to Melbourne. While stopping for fuel at a gas station you accidentally leave your bag behind in the store. Unfortunately, the bag goes missing. Worse, it contained your DSLR camera and your iPad. MSIG’s Overseas Study Insurance provides protection against the financial loss of those items.

So, while you might encounter some bumps in the road – and life is full of challenges, especially for students – you can continue to enjoy your adventure with confidence.

To find out more about MSIG’s Overseas Study Insurance, please feel free to contact us or find out more about our insurance plans.

Read more: Planning to study overseas? Read these tips first

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