Cholamandalam MS General Insurance, a Chennai-based joint venture between the Murugappa Group and Mitsui Sumitomo Insurance Group of Japan has announced the launch of its overseas Student Travel Insurance policy.

Chola MS Overseas Student Travel Insurance provides insurance coverage as required by foreign university norms, with options of special add-on medical cover and extension of the first year initial coverage to the second year. Available in Indian Rupees, the Overseas Student Travel also provides door-to door coverage for Personal Accident, from residence to international airport and back.

Key benefits of the product include cashless settlement of hospitalization claims abroad and definition of a new geographical scope – Asia Pacific (excl. Japan) - as a result of which, travel cover to say Australia or Singapore is now more competitive in price, as against the industry practice of charging a price applicable for the European category for these destinations.