Parents to a New-Born? Get Health Insurance to Sleep like a Baby!

Posted on: Jan 31, 2022 | | Written by:

Parents to a New-Born? Get Health Insurance to Sleep like a Baby!

Published on February 2, 2022. EST READ TIME: 3 minutes

Health Insurance for Baby - Health insurance

Becoming a parent is a beautiful feeling. Nurturing your tiny bundle of joy is a phase that is full of joy, excitement, and learnings. It implies a whole lot of responsibility too. And this means, as a parent, you need to ensure that your new-born is protected against all kinds of ailments. For that, keeping an eye on the baby is not enough.You should also prepare for eventualities, even if you don’t want to think about them. And buying a health insurance policy for your new-born is the best way to do that. Yes, it is possible to buy health insurance for new-born babies. Since accidents and illnesses cannot be predicted, it’s important to get insurance as early as possible. Also, with the cost of quality healthcare constantly rising, it is essential to get a comprehensive health plan for your child.

Can a new-born be included in health insurance?

Absolutely! In fact, there are a few health insurance policies that are designed to meet the specific needs of a new-born. However, you can always add your baby’s name to the existing family floater plan or buy a family plan that includes the new-born. Some maternity insurance coverages are also designed to get the new-born insured from the day they are born. Adding the baby to an existing plan often helps in covering the basic immunization costs. Some policies don’t even charge any additional costs for adding the newest member of the family.

However, if you are interested in buying a separate plan for your child, there are a few things you must keep in mind.

• The health needs of an infant are very different from that of an adult, and so,the health plan’s coverage must be decided accordingly. Generally, insurers provide coverage to new-borns after they have attained the age of 90 days. Getting insurance at the earliest works better because it helps you get your child the best treatment available if they are diagnosed with a medical condition. So, decide the sum insured according to the needs and your budget as with a bigger sum insured, the premium will go up.

• Secondly, look at the waiting period,since during this period, no medical expenses will be reimbursed. So, a small waiting period works better. Only after the period is over, the baby will be covered by the policy.

• While getting a separate plan or adding your child to the family plan is a must, if your employer provides you and your family a health cover, make sure you add the baby’s name to the policy.

• Lastly, read the terms and conditions carefully to be fully aware of the inclusions and exclusions mentioned in the plan.

Why is health insurance important for the family?

While new-borns require extra care in the form of regular medical check-ups and vaccinations, other members of the family like your spouse or the elder child also need to stay covered by a plan. While aging parents must be protected by a separate health plan that includes coverage against critical illnesses, younger members of the family can be protected by one family plan with an adequate sum insured.

To reiterate, medical emergencies can drain your savings within days. Having a health plan will help you go for quality treatment without any financial strain. A health plan not only covers hospitalisation costs, but also medical bills incurred during the consultation phase as well as medicines and doctor visits after discharge. Depending on the coverage, it can include other benefits like AYUSH treatment, maternity expenses, and ambulance services.

You get cashless treatment within a huge network of hospitals too.Health policies offer many top-up plans that can give a further boost to your existing plan when the sum insured proves to be inadequate. You can also avail tax benefits by buying a health plan under Section 80D of the Income Tax Act.

Buying health insurance for family is important because relying on the health plan provided by your employer can be dicey as its coverage may not be adequate for your family’s health needs.

Conclusion

Parenthood can be challenging yet immensely satisfying. While it’s joyful to see your baby giggle or sleep or take their first steps, you need to be extra careful about your new-born child’s health needs. Having a health plan for the little one will help you celebrate the arrival of a new member without any tension of your savings taking a hit due to unforeseen medical expenses. The market has many good plans customised as per your family’s needs. So, do your research and buy one without further delay.

Disclaimer: The above information is for illustrative purpose only. For more details, please refer to policy wordings and prospectus before concluding the sales.

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