How to Secure Your Child with a Health Insurance Cover?

 How to Secure Your Child with a Health Insurance Cover?

Every parent ensures their child has a healthy childhood. For this, they make amendments to their diets, enforce good habits while engaging them in an active lifestyle. A few years ago, when handheld devices did not catch up with time, children naturally got their active lifestyle from playing outdoors; but now things have changed. 

More and more children are resorting to staying indoor and leading them to have an active life is challenging. Moreover, children have weaker immune systems and are more prone to infectious diseases like diarrhoea, diphtheria, and measles, which are prevalent among infants and children.

To ensure the prevention of such diseases that your child may contract, it is better to have routine health check-ups. Healthcare is no doubt essential but in today’s day and age, the treatment costs are sky-rocketing, and it can get extremely expensive. Having said that, you need not stress too much. Health insurancepolicycomes handy to take care of financial emergencies that might arise due to an illness or hospitalisation. 

While there are insurance companies that offer health insurance specifically for designed for children, here are a few plans that you can opt to insure your child’s health – 

Individual Child Health Plans

Individual child health insurance policies provide a varied range of benefits to your child. These benefits include hospitalisation, medical check-ups, ambulance charges, fees for child specialist doctors and more. You can avail these child health policies in the form of cashless health insurance too. A cashless facility will make the entire treatment a hassle-free process. All you have to do is present your identity card issued by the insurer at the network hospital. The hospital will intimate the insurance company, and the insurer will directly settle your bill.

Here are some of the benefits of individual child health policies – 

Affordable premiums – Since the insurance company has limited risk to insure, the premiums charged for these plans are affordable. Parents opting for individual policies for their children can save on premium while ensuring timely medical attention to their children.

Added benefits – These plans often include benefits like cashless hospitalisation, along with add-on riders that can be customised to your child’s need. 

Cumulative Bonus – Some insurance policiesprovidea Cumulative Bonus (CB) facility, which offers an increment to your sum insured that goes as high as 50% at the same amount of premium.

Family Floater Plans

If you do not want to purchase a separate policy for your child, you can insure his/her health using health insurance plans for family. Family health insurance covers the primary policyholder including parents and dependent children. Infants can be added to these family floater policies as early as 90 days of age.

Here are a few benefits of family floater policy – 

Blanket policy – Family floater plan is a blanket policy that insures the health of all your family members at once. There are no hassles of managing multiple policies which often result in missed renewal dates. 

Add-ons – Many different add-ons can be includedin your family health insurance plan. These plans can be customised to increase the coverage using additional riders to meet the health requirement of all beneficiaries.

Tax benefit – Like other health insurance policies, family floater plans enjoy tax benefits too. You can avail tax benefit upto ₹25,000 which further goes upto ₹50,000 in case of senior citizens. 

To conclude, health insurance is a necessity in present times to beat the increasing medical inflation. Take into consideration your child’s medical needs and select a suitable plan that checks all the right boxes.

Ruth Hill