There are several things that matter in buying a health insurance policy. Your age, your occupation, your family’s medical history, etc. are some of the key aspects that matter when it comes to finding the best option. Talking about the age factor, we all know that as people get older, they have to pay a higher premium for their health insurance plan. But how does it work in the case of children? When a child is born, the expenses rise all of a sudden. From providing basic health care facilities to education, there are many ways you as parents have to shell out money from your wallet. If you want to ensure that your child receives proper and timely health care facilities then you must buy him/her a health insurance policy.
What does a children health insurance policy cover?
When we talk about raising a child, we usually focus more on his/her education and basic health care needs. But, life is unpredictable. You never know when it can take a sharp turn and leave you in rubbles. Critical illnesses can make a big hole in your wallet. For this reason, it is crucial that you must start focusing on your kid’s overall health care requirements. In the long run, you would definitely thank yourself for taking this decision. So, what kind of cover is offered by the children health insurance plans? Let’s find out.
Children usually have a lower immunity; they are vulnerable to a wide range of diseases, which is why they require medical checkups and treatment on a regular basis. Measles, mumps, diphtheria, etc. are some of the common diseases that affect the newborns. Doctor fees and medicine prices can take a toll on your budget. Frequent visits to doctors’ clinic can turn out to be pretty expensive. So, it would better to have the protection of a children health insurance policy. Most of the policies cover expenses related to medical check-ups, specialist costs, ambulance charges, and many more.
What are the benefits of having an individual child health plan?
- Highly affordable premiums- Yes, the premiums charged by the insurance companies for this kind of policy are usually low. You don’t have to spend a lot on providing financial security to your kid.
- No Claim Bonus- Even children health plans come with the advantage of NCB or no claim bonus.
- Cashless hospitalization: In today’s times, childbirth expenses are quite high. After spending so much, you might not be in a position to spend again on some major treatment. It is where having a cashless child health plan can prove to be beneficial to you.
Besides them, there are many more benefits of purchasing a health insurance plan for your child. You can customize it as per your requirements. Before you buy a child health plan, you must consider the idea of including your child in your family’s health plan, if you have any. Family floater health insurance plans allow you to add new members to the existing plan. Rather than buying a new one, you can easily modify your family floater plan by paying an extra premium.
How to choose the right children health insurance plan?
- Compare the premiums: First of all, make a comparison between the premiums charged by the top insurance companies for this kind of product. When you compare the premium, make sure you take in account the inclusions & exclusions as well.
- Get premium waver benefit: It is one of the most advantageous aspects you should look for. If a child is covered by this kind of policy, and suppose if his/her parent dies, then he/she will not have to pay the premiums. They will be waived off. Isn’t it great?
- Compare the coverage amount: Finally, take a close look at the coverage amount, and check the sub-limits too.
Spending a little time on comparing the policies would provide you with more idea, and it will equip you with the knowledge required for buying the right health insurance plan for your child. You can also use online comparison tools to make the whole process easier and quicker for yourself.`