Health insurance policy options for new-born babies
Planning health insurance for newborn babies before or after they are born is almost a necessity now. Neonatal care and treatment have become extremely expensive. Thus, health Insurance is the first step towards safeguarding your child. From medical treatments, vaccination to regular check-ups, a lot has to be done to ensure that the initial few years of your child are secure and healthy.
Health Insurance Options for Newborn Babies
There are various health insurance options for newborn babies in India. Only a few insurance companies offer coverage to newborns from day one. In most health insurance plans, newborn babies are covered after the completion of 90 days. However, one cannot buy a standalone health insurance policy for a newborn baby. Let’s discuss some of the options of health insurance that are available for newborn babies-
- Family Floater with in- built new-born cover benefit-
Many health insurance plans have maternity cover and/or new-born cover as an in-built benefit. While maternity benefit covers the cost of child birth, newborn baby coverage covers the new born baby against medical emergencies.
Your Actionable: If you have a family floater plan with in-built coverage for new-born babies, then the baby will automatically be covered in the health insurance plan after 90 days of birth. All you have to do is inform your insurance company about the birth of the baby and coverage would be granted.
- Family Floater with add-on new-born cover benefit-
Many insurance companies offer new-born coverage benefits as an add-on benefit by paying additional premium.
Your Actionable: If you are planning a child, you can add the new-born cover benefit and/or maternity benefit with your family floater health insurance plan by paying a low additional premium and the coverage will start after 90 days of birth of the child. The plan will then cover the healthcare expenses of the new-born after 90 days of birth. This add-on benefit helps you to get a higher sum insured for your child by paying a lower additional premium.
- Family Floater without in-built or add-on new-born cover benefit-
If you have a family floater health insurance plan without add-on or in-built cover benefits for your new-born baby, then also you have the option to include the baby in your health insurance plan.
Your Actionable: You would just have to inform the insurance company about the inclusion of the baby and pay the required premium for the same. However, there are certain eligibility conditions that you must check before such inclusion such as the age of the child, any medical issues, etc. You also have two options under this.
- Inclusion during the policy term-
You can include your new-born baby in the family floater health plan during the tenure of the policy.
Your Actionable: An application for the addition of the child is to be made to the insurance company along with the prescribed documents. If the child satisfies the eligibility criteria, the company will cover the child in the family floater plan.
- Inclusion at the time of renewal-
The child can also be added to the family floater plan at the time of renewal of the plan.
Your Actionable: The insurance company will recalculate the premium on addition of the child on the existing health insurance policy and the recalculated premium needs to be paid at the time of renewal.
Popular health plans offering new-born baby coverage
Here’s a look into some of the popular health insurance plans which allow coverage for a newborn baby –
|Health Insurance Plans||Availability of New-born Cover|
|Care Health- Joy Today||Inbuilt coverage from the day of birth of the baby till 90 days. Thereafter, the baby can be included under the cover at an additional premium|
|Max Bupa Heartbeat Family First Health Insurance||Inbuilt coverage from the day of birth of the child till the end of the coverage duration|
|Star Health- Family Health Optima||Inbuilt coverage for the baby from 16th day|
|HDFC ERGO- Health Suraksha Gold Insurance Plan||Inbuilt coverage from the day of birth for up to 90 days|
Benefits of getting health insurance cover for new-born babies
Securing your child’s future with health insurance is of utmost importance. Let’s discuss some of the benefits of health insurance cover for new-born babies:
- Complete Protection- A health insurance plan for a newborn baby helps you cover medical expenses on the baby’s health issues. You can protect yourself against high medical costs or surgical expenses which might incur if your baby suffers a medical emergency.
- Reasonable Premiums- The premiums of including the new born baby in your existing health insurance plan are low and affordable. While the coverage is comprehensive, the premiums are low.
The medical coverage offered to new-born babies may differ from company to company. Some insurance companies cover vaccination charges also while others also offer to cover congenital disorders. It is necessary to check the coverage offered, conditions of coverage and exclusions. You must also ensure an optimal sum insured so that your new-born and the whole family is covered under the policy sufficiently.