Students to be offered discount on travel insurance as new deal signed

Insurer World Nomads has teamed up with online student discount programme Student Beans to make travel insurance more affordable, according to a statement released yesterday (31 August 2023).

The deal will see students and post-graduates in the UK and European Union (EU) offered a 10% discount on products should they want to travel or study abroad.

World Nomads said it was making the move after finding that UK student loan debt surpassed £225.85bn in 2023.

As a result, it felt that ”the weight of financial obligations continues to hinder students’ aspirations”.

”We believe that every student should have the opportunity to explore the world without compromising their financial stability due to an incident or injury while travelling abroad,” Jonathan Frankham, World Nomads general manager for the UK and EU, said.

“Our partnership with Student Beans is about supporting young travellers by providing them with affordable travel insurance plans that offer cover for sudden and unforeseen costs.”

Considerations

World Nomads covers travellers for medical evacuation, cancellation, baggage and over 200 adventure activities.

When choosing a travel insurance policy for long-term trips, the firm said students should consider what is included, such as cancellation, curtailment, medical emergencies, repatriation, personal belongings and return home options.

“We know that students love to travel and that they do so for a variety of reasons,” Frankham said.

“It provides invaluable life experience and can help define a young person’s place and purpose in the world, help instil lifelong values and priorities or simply offer them a chance to experience something – a destination, a culture or an experience they otherwise wouldn’t.

”As well as being voracious travellers and adventure seekers, Gen Z are also very socially conscious, which aligns with the World Nomads ethos.”