For this study, we chose 10 insurance plans based on consumer feedback and product structure. The parameters on which we have compared them include minimum and maximum entry age, maximum policy term, personal accident, personal liability, loss of checked-in baggage, delay in checked-in baggage, loss of passport, medical cover, dental treatment, study interruption, sponsor protection, family visit, bail bond, and premium for one-year policy. We gave the highest weightage (15 points) to consumer feedback, which helped in determining product quality as well as the most important and beneficial variables. These variables have a direct bearing on the product structure. Our questionnaire covering various features of the plans received responses from a cross-section of product users.
This study does not cover travel to the United States and Canada because insurance companies charge higher rates of premium for standard coverage when it comes to these countries. Besides, since a sizeable number of students opt to study in countries other than the USA and Canada, we thought it better to stick to comparable plans.