National Overseas Scholarship and Term Insurance

2025-10-11

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Dreaming of higher education in a foreign land? For countless ambitious Indian students, that vision of world-class universities and diverse experiences often bumps into a significant hurdle: finances. But what if there were a pathway to make that global dream a reality without the overwhelming burden of costs? The Government of India's National Overseas Scholarship is precisely that beacon, empowering deserving students to pursue advanced degrees abroad and bring their aspirations to life.

Now, imagine taking that leap with complete peace of mind, knowing your loved ones back home are also secure. As you chase those international academic goals, it's just as crucial to safeguard your family's financial well-being. That's where a term insurance plan steps in, acting as a crucial safety net to protect them from life's unforeseen uncertainties, ensuring their future remains bright, no matter what.

Key Takeaways

The National Overseas Scholarship provides full financial support to deserving students, enabling them to fund their studies abroad.
Clear eligibility criteria and a defined application process make it easier for students to apply confidently.
A term insurance plan ensures your family’s financial security while you pursue higher education overseas.
Combining scholarship benefits with a term insurance plan offers both opportunity and protection.
Applying for a term insurance plan is a simple online process designed to make financial protection easy and accessible.

The National Overseas Scholarship Explained

So, what exactly is this incredible opportunity? Think of the National Overseas Scholarship as a powerful helping hand from the government. It's designed to uplift bright, deserving students from particular communities, giving them the chance to pursue their higher education dreams at some of the world's most prestigious universities. This comprehensive scholarship takes care of your tuition fees, helps with living expenses, and even covers travel costs. It truly opens the door to world-class education, allowing you to focus on your studies and catapult your career onto a global stage.

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Understanding Term Insurance

Now, let's talk about something equally vital for your peace of mind: Term Insurance. In simple terms, it's a straightforward life insurance policy that provides financial protection for your family for a specified period, should an unforeseen event occur. The beauty of term insurance is that it offers substantial coverage at incredibly affordable premiums. For someone embarking on significant adventures, such as studying abroad or relocating for career growth, knowing that your loved ones back home are financially secure, regardless of the circumstances, provides an invaluable sense of peace. It's about ensuring their stability, even when you're pursuing your ambitious goals far away.

How Scholarships and Term Insurance Work Together for Your Success?

While a National Overseas Scholarship supports your academic ambitions, a term insurance plan strengthens your financial foundation. Together, they safeguard both your educational progress and your family’s security, ensuring every step toward your dream education is well protected.

Your Step-by-Step Guide to the Application Process

Applying for the National Overseas Scholarship can be simple if you follow the prescribed process. Make sure to meet deadlines and upload documents accurately for timely acceptance.

Visit the official Ministry of Social Justice and Empowerment portal and create an applicant ID
Fill out the application form carefully with accurate personal, academic, and financial details
Upload the required documents in the correct format and size as specified
Submit your application before the closing date, and take note of any confirmation messages or unique application ID
Prepare for the interview or selection evaluation if shortlisted
Follow updates on the official website for final results and further instructions

Do You Qualify? Eligibility Criteria for the National Overseas Scholarship

Before applying, ensure you meet the basic conditions that determine eligibility. These criteria are designed to identify candidates with both merit and need.

Applicants must belong to the Scheduled Castes (SC), Denotified, Nomadic, Semi-Nomadic Tribes, or Landless Agricultural Labourer families
Candidates should have obtained at least 60% marks in their qualifying examination
The scholarship applies to postgraduate, PhD, and post-doctoral courses abroad
The applicant’s age should not exceed 35 years as of the year of application
Total family income should not exceed ₹8 lakh per annum
Each candidate can apply for the scholarship a maximum of two times

What Do You Need for Your Scholarship Application?

Submitting a complete application ensures a smoother assessment and minimises the risk of rejection. Before applying, gather all the required documents in digital form to save time during the upload process.

A copy of your valid passport and recent passport-sized photographs
Academic transcripts and certificates from the 10th standard onwards
Proof of admission or provisional acceptance from the foreign university
An income certificate issued by a competent authority
Caste or community certificate (as applicable)
Statement of purpose outlining your educational goals and the relevance of the course
Recommendation letters from previous professors or employers
Bank account details and Aadhaar number for verification

Did You Know?

For 2025-26, 106 candidates were selected for the NOS, with provisional award letters issued to the top 40 based on available funds.

Source: The Hindu

Protecting What Matters the Most: Applying for a Term Insurance Plan

As you invest in your educational journey abroad, consider protecting your family’s future at home with a reliable term insurance plan. It acts as a safety net, ensuring your loved ones are financially secure, no matter what the future holds.

Steps to apply for a term insurance plan with Canara HSBC Life Insurance:

Visit the official Canara HSBC Life Insurance website and navigate to the term insurance section.
Use the online premium calculator to determine suitable coverage and premium options based on your age, income, and financial goals.
Choose the desired policy term and add any optional riders for critical illness, accidental death, or disability benefits.
Fill out the online application form with accurate personal, employment, and medical details.
Upload the necessary documents, including identity proof, address proof, income documents, and a recent photograph.
Review the summary of your selected plan and premium details before proceeding to payment.
Complete the payment securely through the available online modes.
Await a verification call or medical examination (if required) to finalise your policy.
Once approved, receive your policy document digitally, ensuring your family’s future is now financially protected.

How Does Term Insurance Support Educational Goals?

Studying overseas shifts family finances across borders, and term insurance ties that plan together by protecting dependants if income support stops mid‑degree, ensuring loans, fees, and home expenses don’t derail due to unforeseen events.

Shields Education Loans and Co-borrowers: If a parent or student has taken an education loan, the death benefit can help retire the outstanding balance, so co-signing parents aren’t burdened, thereby safeguarding their credit and assets at home.
Cover Foreign Living Costs: Choose a sum assured that factors in host‑country expenses such as rent, health costs, and inflation, so your family can maintain commitments while you study abroad.
Provides Global Claim Flexibility: Most Indian term plans pay claims wherever death occurs, helping nominees receive funds even if the insured passes away while overseas for study or work.
Bridges Visa and Funding Contingencies: If a sponsor passes away, the payout can substitute lost sponsorship, preventing course withdrawal, deferrals, or emergency returns due to financial shortfalls.
Coordinates with Scholarship Timelines: Scholarships may not cover every cost or may be disbursed in tranches; term insurance ensures uninterrupted support for dependents during gaps or delays.
Customises the Duration to Study Horizon: Select a policy term that spans course length plus job-search months, or extend to major milestones like dependants’ higher education or home-loan completion.
Enhances Protection with Relevant Riders: Consider riders like accidental death, critical illness, or waiver of premium to handle medical or accident risks common to travel and new environments.
Simplifies Cross-Border Premiums: Opt for auto-pay from NRE/NRO accounts or international cards where available, and align premium due dates to academic schedules to avoid lapses.
Optimises Taxes at Home: Premiums may qualify for deductions under Section 80C. You must ensure that documentation is maintained so that families can retain tax efficiency while funding their studies.

Why Choose Canara HSBC Life Insurance?

As you plan for your journey, isn't it comforting to know that your loved ones back home are also well-taken care of? This is where a reliable partner like Canara HSBC Life Insurance comes in, offering not just policies, but genuine peace of mind.

To truly secure your family's financial future as you pursue your global dreams, consider our term plans. Our plans are specifically designed to provide strong, long-term security with the flexibility to ensure your family's educational and daily needs are met, no matter what. With features that allow for steady income streams or a lump sum, it can be the perfect security, ensuring your family stays strong financially even if unforeseen circumstances arise.

By choosing the right protection plan, you empower yourself to focus wholeheartedly on your studies, knowing that your family’s future is financially shielded and sound.

Final Steps to a Secure Future Abroad

Stepping onto that path of the National Overseas Scholarship genuinely opens up a world of possibilities, exceptional education, incredible global exposure, and a future brimming with potential. But as you chase those horizons, it’s just as important to look ahead and wrap your family in a blanket of security with a solid term insurance plan. When you put effort into both your education and your family's financial well-being, you create a beautiful balance. It means your professional dreams can truly take flight, knowing that your loved ones back home are safe and sound.

Ultimately, it’s this perfect blend of exciting opportunity and thoughtful protection that empowers you to step onto that global stage boldly. You’ll be confident, knowing you’ve meticulously planned not just for your own success, but also for your family’s unwavering peace of mind.

Glossary

National Overseas Scholarship: Government aid for eligible students to study abroad, covering tuition, living, and travel
Section 80C: Tax provision allowing deductions on specified investments, including life and term insurance premiums
Statement of Purpose (SOP): Essay detailing goals, motivation, and course fit, submitted with scholarship applications
Nominee: The person designated to receive the insurance payout if the policyholder passes away during the term
Policy Term: The fixed duration an insurance policy provides life cover, chosen at purchase (example: 10-40 years)

FAQs

Eligible applicants are Indian citizens from SC, De-notified/Nomadic/Semi‑Nomadic Tribes, Landless Agricultural Labourers, or Traditional Artisans, meeting age, income (≤ ₹8 lakh), and academic thresholds such as 60% in the qualifying exam.

Master’s and PhD programmes at accredited foreign universities are supported; bachelor’s degrees are excluded, and priority is given to offers from QS Top 500 institutions in initial selection rounds.

Tuition, maintenance, and approved allowances are paid via Indian Missions directly to universities or beneficiaries as per scheme rules, rather than direct lump sums to students.

Applicants typically need caste/category proof, a valid passport, academic transcripts, an income certificate, a UAN, and an unconditional admission offer, as well as other portal-specific uploads.

Term insurance can protect dependents with a lump‑sum benefit if the insured passes away during the policy term, complementing scholarship funding by safeguarding family finances.

Disclaimer - This article is issued in the general public interest and meant for general information purposes only. The views expressed in this blog are solely those of the writer and do not necessarily reflect the official policy or position of Canara HSBC Life Insurance Company Limited or any affiliated entity. We make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability, or availability with respect to the blog or the information, products, services, or related graphics contained in the blog for any purpose. Any reliance you place on such information is therefore strictly at your own risk. You should consult with a qualified professional regarding your specific circumstances before taking any action based on the content provided herein.