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Children need a lot of care and attention throughout the period from the time they are born till they are adults. Further, with pandemics like the Covid-19 and other diseases rising at a fast pace, it becomes imperative for parents to opt for special child health insurance plans to keep them safe. Also, due to unhealthy eating habits of children, poor lifestyle as well as the adulteration of provisions, small kids are becoming prone to diseases. On top of that, the ever rising cost of healthcare further aggravates the situation. Thus, having good health insurance plans for your little ones with enough coverage is the best thing in the current situation.
So, in this blog we will talk about the child health insurance plans to allow you a better insight on the same.
These are insurance policies that are crafted to meet the needs of your children’s health requirements by protecting and covering them against numerous ailments. So, with children’s health insurance, parents can get compensation for costs incurred due to various children’s healthcare needs like vaccination, regular check-ups, hospitalization, and so on. So, with the help of a health plan for kids, parents can easily secure the healthcare needs of their children by securing their health financially.
Children insurance policies are available for kids as young as new born as well as for pre-teens and teens. These policies support parents in availing quality health care for their children whenever required.
So, if you are willing to invest in securing the health of your kids, the next question you would ask will be, how much is health insurance for a child? To answer this question, let us see and understand some of the best children insurance policies below.
1) Plan Name – Aditya Birla Activ Assure Diamond Plan
Sum insured – 2 Lakh to 2 Crore rupees
2) Plan Name – Bajaj Allianz Health Guard Plan
Sum insured – 1.5 Lakh to 1 Crore rupees
3) Plan Name – Bharti AXA Health AdvantEDGE Plan
Insurer: Bharti AXA Health Insurance Company
Sum insured – 2 Lakh to 3 Crore rupees
4) Plan Name – Care Plus Health Insurance Plan
Insurer: Care Health Insurance Company
Sum insured – 3 Lakh to 25 lakh rupees
Child health insurance plans are divided into two categories, namely;
The Family Floater plans cover a child as well as 4-7 members of a family on the basis of the family floater sum insured. Such plans are feasible as they offer extensive coverage at a reasonable premium.
On the other hand, the Individual Health plans for children allow a child to have personalized coverage. These plans are available on an individual sum insured basis and will only suffice for the healthcare needs of the child alone. In most cases, child health plans are available at low premiums.
Below are some of the benefits that can be availed by children health insurance plans:
The key benefit of child health insurance plans is that they allow protection to the insured – that is the child – from a range of healthcare costs. These include cost of hospitalization, cost incurred in the treatment of injury caused due to accidents, costs of vaccination, consultation fee (OPD), and so on. Further, some policies might allow free health check-ups as a value-added service.
With a child health insurance plan, you can protect your child and secure him/her financially against any unexpected health emergencies.
With a child health insurance plan, you don’t have to compromise on availing the best treatment for your child. So, even if you are facing financial constraints, you can still get the best treatment for your kid.
Like the regular health plans, you can avail cashless hospitalization facility even in the case of child health insurance plans. So, you can admit your kid to a network hospital for treatment to avail this facility.
If you buy health insurance on the basis of an individual sum insured for your child, you might also receive a family discount on the premium.
You can also enjoy the benefit of tax deductions under Section 80D on the premium that you pay on a child health insurance plan.
Min. age of Entry – 91 days (in case of infants 1 day)
Max. age of Entry – up to 25 years
Now, many parents want to know, how long can my child stay on my health insurance. Actually, a child can stay protected until he/she becomes financially Independent.
Here are some tips to choose affordable health insurance for children only:
So, now you know the various benefits of availing child health insurance plans. However, you must pick a plan very cautiously so that you can avail maximum coverage for your child along with other benefits.
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Here are some typical requirements for being able to purchase child health insurance: The newborn child will be covered from the first day to 90 days if the parents already have a family floater policy. A baby older than 91 days can be added to the current family floater coverage by paying an additional premium.
In most states, the CHIP programme only offers complete coverage to children who are younger than 19 years old. Medicaid has lower income requirements than CHIP, which are higher. The eligibility requirements differ from state to state, just like with Medicaid.
Plans for child insurance combine investment and insurance products to guarantee your child's future financial stability. At the conclusion of the policy term, these plans pay the life cover as a lump sum.
PayBima is an Indian insurance aggregator on a mission to make insurance simple for people. PayBima is the Digital arm of the already established and trusted Mahindra Insurance Brokers Ltd., a reputed name in the insurance broking industry with 17 years of experience. PayBima promises you the easy-to-access online platform to buy insurance policies, and also extend their unrelented assistance with all your policy related queries and services.
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