Gifting a Health Insurance Policy to Kids – Advantages and Disadvantages


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With high rising healthcare costs, there is no better gift for your kids than a health insurance policy. Let’s discuss the Advantages and Disadvantages  of buying a health plan for kids in this post.

As doting parents, we want to give our kids the best of everything so that they can lead a happy and healthy life. We do not want to compromise on the things that our children need for a comfortable living. However, in the present scenario the best thing that parents can give their children is definitely the gift of health insurance. With so many contagious diseases that are on rise these days, health insurance is definitely the most important protection that you can give your kids.  In this post, we will discuss the various important things related to buying health insurance for your children. But before that let us talk about the reasons why you need health insurance for kids.

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Many parents might think that children are not prone to diseases, so what is the point in buying a health plan for them? However, in the present situation there are many important reasons why one should buy health insurance in India for their kids.

Reasons to buy Health Insurance for Kids in India

  • Weak immune system – Many children have weak immune systems that make them prone to diseases. With weak immunity, children have limited ability to fight different ailments and thus they are more vulnerable. So, having a good health insurance plan allows the parents to support the child with the best treatment in case of any health issue.
  • Scare of Accidents – Accidents are so common these days on the road. Everyday there are hundreds of people getting injured due to accidents. Despite the fact that you are driving or not, you cannot guarantee total safety while on the road. So, having insurance in hand is always a good idea to save you from the monetary expenses incurred in an accident.
  • Health Risks – Further, in terms of health issues children are more at risk of getting illness as compared to adults. Since, children eat a lot of junk and unhealthy food, they are very vulnerable. Thus, buying health insurance plans for kids is something that is necessary.

Read More: Child Health Insurance Plan

Advantages of buying health insurance for kids in India

  • Monetary security to cover health costs – With a health insurance plan you may not worry about your medical bills in the event of any health emergency. So, if you buy a health plan for your kids, you may stay away from the worries of their medical requirements and can keep your savings intact as well. Further, with the rising healthcare costs, having health coverage has become all the more important.
  • Cashless treatment available – In case of medical emergency, your health insurance policy would allow you to avail cashless treatment for your children at a network hospital of your choice that is enlisted in your insurer’s hospital network. This way, you can keep your savings intact and stay away from the hassle of filing a reimbursement claim. So, while choosing the health insurance policy for your children, make sure to select a plan from an insurance company that has a wide range of network hospitals.
  • Allow you to avail quality treatment – This is one of the key reasons why you must avail health insurance for your kids. With a health insurance policy in hand, you can seek cashless treatment in the best network hospital in your city. Also, God forbid, if your children require hospital admission for any ailment, you can give them the best treatment and the best facilities too. Besides, health insurance plans for families also enable the insured to avail day-care treatment, pre and post hospitalization, mental healthcare and so on. Some of the plans may allow the insured to avail free annual health check-ups along with renewability for lifetime.
  • Offer tax benefits – Buying medical insurance policy for your  children also proved beneficial in the long run for saving income tax. The tax deductions available on family health insurance premiums that you pay allow you to save taxes  on your hard earned money and several benefits in the long run.

 Disadvantages of health insurance 

There is no such disadvantage of gifting Insurance to your kids . Health insurance cover is definitely a plus point that everyone should have irrespective of the age of the person. So, be it a child or an adult, everyone must have health insurance coverage.

The only thing that you may consider as a disadvantage of buying health insurance for children is the additional expense that you have to incur. But, the security in case of a health emergency as well as the mental peace that you can earn outweighs this expense.

To Conclude

There are many reputed insurance companies offering the best health insurance cover that you can avail for your kids. Health coverage for your child can be bought when the baby turns 91 days old. However, it is advisable that while buying the insurance plan one should read the terms and conditions of the policy wisely. Also, many insurers offer critical illness riders with children’s health policies.

Since life is full of uncertainty and no one wants to risk the health of their children. Thus, it becomes all the more important to avail adequate security of health care even if you need to pay an additional premium.  So, compare and choose a good policy from the best health insurance company in India to safeguard the health of your children and your entire family.


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Sep 01, 2022
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PayBima Team
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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