Health Insurance for Infants

The birth of a child is an extremely precious moment in one’s life. This single moment has the power to change your perspective towards life completely. On one hand, you experience immense joy in holding the little one in your arms; while on the other, you can feel the sense of increased responsibility on your shoulders. Raising a child is by no means a simple task. You must have a strong financial plan to secure your newborn’s future and needs. This is the sole reason why child health insurance policy has become increasingly popular.

Advantages of a child health insurance policy

In case of the sudden demise of a parent or any unforeseen incident, the health insurance policy for children can turn out to be a great support. As a parent, it is your duty to ensure that the education and upbringing of your child should not be impacted under any circumstances. There are term insurance plans, which also provide coverage in case of premature death but the policy does not continue after the death of the policyholder. A child health insurance solves this issue. It continues to provide the premium even after the death of the policyholder. The premiums are slightly higher for child insurance as compared to traditional insurance ones, but it is worth the benefits it provides.

The pay-outs in case of child health insurance are extremely flexible and can be modified according to the requirement at various stages in life. When planning for higher education, skill development, or even a wedding, the requirement of funds keeps on increasing.  A larger amount of money can be availed as pay-out during those phases. A good child insurance plan helps you to calibrate the payouts according to the need of the hour. This ensures that the child can reap the benefits of maximum funds when he or she needs it the most.

An ideal child health insurance plan also comes with many riders at nominal costs. You can choose the riders for extra protection and benefit. However, be careful in choosing the right riders so that it enhances the advantages of the policy that you have opted for.

Points to note for a child health insurance policy

A baby cannot be insured from the first day itself. He or she is eligible for insurance after the completion of 90 days from the day of birth.

You must inform the insurance company about the birth of the child within seven days. The health insurance company then advises you about suitable plans to provide maximum health insurance benefits for the child. You can add more options to the policy while renewing it as well.

When the policy is due for renewal, you must submit documents like a birth certificate and hospital discharge card in order to process your application. Once the necessary documents are submitted, the health insurance provider will let you know about the applicable premium on the policy. You may compare quotes and get this plan through an online health insurance purchase.

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