2. Don't Choose a Cheap Insurance Cover

Many people feel that having a health insurance cover is just a formality and usually opt for health covers that are cheaper. In such cases, it is going to be a costly mistake in the long run. Since treatments abroad would cost double of what it costs in India, having a smaller health cover would not serve any purpose.

"Some universities insist on coverage for in-patient as well as out-patient treatment, maternity expenses as well as treatment for psychological issues. Typically, the sum insured they mandate is around $2, 00,000-2, 50, 000," says Kanvinde.

"Before buying a policy from an Indian insurer, check whether the benefits offered tally with your university's requirements. The insurer will issue a letter stating that all the requirements are complied with. If the university approves of the cover chosen by you, it will waive off the requirement of buying a cover from the insurer it may have tied up with," added Kanvinde.

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