Even new-borns need insurance cover!

There is happiness all around whenever a baby is born in a family. But when the infant takes ill, the family needs to take care of her. And in case of hospitalisation, a big amount of money is required.

Nowadays, most people already have health insurance policies in place, requiring them to pay regular premiums at intervals. These policies are renewed periodically. When you renew your health insurance policy after welcoming a new family member, make sure to include coverage for your child’s health. Although it may increase the premium in a family floater plan, it is the simplest process.

If you have a group health insurance plan, you can also include your child in it. Many health insurance companies now offer coverage for children. Some plans, such as Aditya Birla Activ Assure Diamond Plan, Bajaj Allianz Health Guard Plan, Bharti AXA Health Advant EDGE Plan, and Care Plus Health Insurance Plan, provide coverage ranging from 1.5 lakh rupees to 3 crore rupees.

Let’s now understand what these policies cover. If a child is admitted to the hospital for more than 24 hours, the insurance policy will cover the expenses. This includes ICU charges, medication, tests, room rent, nursing charges, doctor’s fees, and more. These policies also cover expenses before and after hospitalization. This means that expenses incurred 60 days before hospitalization and up to 180 days after discharge are covered.

In most policies, the cost of a child’s vaccinations is also covered, although there may be a limit, typically up to Rs 2,500. For individuals with existing maternity policies, coverage for the child up to 90 days is typically included.
Health insurance for newborns carries more risk, so most insurance companies provide coverage after 90 days. However, in maternity insurance, coverage for the child up to 90 days can be included in some policies. Some companies offer insurance coverage for the child right from birth. In this situation, you have several options to choose from. You can select the one that suits you best, but before making a final decision, carefully examine and compare policies from different companies to determine which one is right for you.

Personal finance expert Jitendra Solanki says that young children have weaker immunity, which makes them more susceptible to illness. They don’t know how to keep themselves safe, and the risk of accidents involving children is also higher. To cover this risk, it’s essential to have health insurance for children. Many insurance companies are offering separate policies for children, but buying them may not be the wisest choice. If you already have a family floater health plan, consider adding your child to that plan. This way, you won’t need to purchase a separate policy, and the premium will also be more affordable.