Life insurance offers financial protection for your family regardless of your location. For students studying abroad, therefore, it is advisable to consider this option, as the unpredictability of life cannot be overlooked. While this insurance cannot prevent loss of life, it can alleviate some financial burdens for the family. Therefore, obtaining life insurance is a beneficial decision. Additionally, numerous agencies offer this service at very affordable premiums.
A significant number of students pursuing education abroad rely on loans to finance their studies. They typically repay these loans using their earnings in the host country. Nevertheless, life is unpredictable, and unforeseen events can occur, potentially resulting in loss of life.
In the unfortunate event of such incidents, the parents of these students would not only face the emotional toll but may also encounter financial challenges. This is due to the obligation of repaying the loan from their regular income. While individuals cannot prevent tragic occurrences or emotional distress, they do have the opportunity to mitigate financial burdens.
Also Read Do I need a visa to study or work in Germany? UAE Golden Visa allows investors and entrepreneurs to live, work or study in the United Arab Emirates EXPLAINER | Why south India wants big families EXPLAINER | Why doctors want changes in the anti-sex detection law
Also Read: SIP Calculator: How much can you earn by investing Rs 5000 or Rs 10000 monthly over 10 years?
Moreover, the fact that you can get life insurance for a comparatively low premium is another reason you should opt for it. If you look at the situation from another perspective, the Ministry of External Affairs has recently confirmed that around 1.33 million Indian students are pursuing their higher studies abroad. And if we look at the geopolitical situation of the world, there are war-like situations in almost every continent. Whether it is Russia and Ukraine, Israel Afghanistan, or Mexico, they are always on high alert. Recently Iran attacked Israel. There are some Indians present in Israel who are waiting for help.
So, in these situations, the native population is also not safe. Also, in the Covid phase, we have seen thousands of students evacuated from the effected countries. Taking notice of this condition, insurance companies are expanding their market and providing health insurance at all-time low premiums.
» Read More
