Every parent wants their children to be healthy adults, and planning for a child’s medical needs is one of the most critical aspects of financial planning. Children’s immune systems are weaker than those of adults, and the rising cost of healthcare adds to families’ financial burdens. Dependent children’s health insurance becomes essential at that point. Every child requires specialised medical care from birth, so investing in your child’s health insurance is wise.
Various Medical Insurance Avenues For Children:
- Plans For Individual Child Health Insurance
A child’s health insurance plan offers comprehensive medical protection. It has several advantages and is a standalone plan. In other words, it is a personal health insurance policy that pays for the care of your dependent child. The ability to use the entire sum insured amount for the dependent child’s medical care or expenses is one of the main benefits of an individual plan. *
- Family Floater Child Health Insurance Plans
The family floater plan covers everyone instead of the individual child health plan, which only covers the dependent child. Once your child has reached the age of 90 days, you can add them to your family floater policy. The applicable premium must be paid. It will be calculated pro rata if you add your dependent child in the middle of the policy year. Simply put, the insurer will only charge the premium for the time that the coverage is offered. *
Eligibility
The eligibility requirements for a child health insurance plan differ from insurer to insurer. However, a child must meet a few needs to qualify for child health insurance benefits. The minimum entry age for dependent Children is 3 months. A baby older than 91 days can be added to the current family floater policy by paying an additional premium. (The dependent child will be eligible for Critical Illness and Personal Accident add-on benefits once they turn 18).
Benefits Of Online Purchase Of Health Insurance For Children
The only reason to purchase health insurance for children who are dependent is to ensure they receive the excellent care possible in a medical emergency.
Extensive Coverage
In general, comprehensive coverage is provided by child health insurance plans. A newborn baby can be covered starting on their first day of life, and the policy will pay for things like network hospital stays, infant shots, etc. * Claims are subject to terms and conditions set forth under health insurance policy.
Lower Premium
Given that less risk is involved in insuring a dependent child, the insurance premium for a child health insurance plan is lower. It applies to floater plans for both individuals and families. ##
Additional Advantages
Additional advantages provided to children by medical insurance for children plans include professional advice on diet and nutrition and expert consultations. *
* Standard T&C apply.
## All savings are provided by the insurer as per the IRDAI-approved insurance plan. Standard T&C apply.
Insurance is the subject matter of solicitation. For more details on benefits, exclusions, limitations, terms, and conditions, please read the sales brochure/policy wording carefully before concluding a sale.
