- Definition
- Eligibility
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Child Health Insurance: A Guide To Securing Your Child’s Future
Don’t we all want our children to be safe?
Even before the day your children are born, you start financial planning for them. Purchasing child health insurance is an essential step in safeguarding your children. With rising medical care worldwide, fighting medical inflation is no joke. Affordable health insurance for children will help you cover your children against medical emergencies, planned treatments, and even when they want to travel abroad for higher studies.
In this article, we uncover the best child insurance plans, why you should purchase them, eligibility criteria, and some common mistakes people make when purchasing child health insurance.
Key Takeaways
- Health Insurance for children is responsible for covering hospitalisation expenses, OPD care, and more
- Consider coverage amount, family medical history, your child’s medical needs, and other important factors before buying a child health plan
- Explore some of the best-selling child health plans
- Cover your child as early as Day 1 under affordable health insurance for children
Best Selling Child Health Insurance Plans
Let us take a look at some of the affordable health insurance for children:
| Child Health Plan | Eligibility | Features |
|---|---|---|
| Care Joy | Covers newborns from day 1 | Vaccination cover, In-patient hospitalisation, Pre and post-hospitalisation |
| Care Classic | Covers newborns from 91 days | Room rent cover, Daycare treatment, Ambulance cover |
| Star Special Care | Covers children from 3 years | Nursing expenses, All day care treatments, Modern treatments |
What Is A Child Health Insurance Plan?
We know that a health insurance plan is a contract between the insurer (insurance company) and the insured (policyholder). As per the contract, the insurer provides coverage for healthcare expenses required by the insured individual. With a child health plan, you can cover your dependent child under your health plan. Child health insurance covers your child’s medical expenses such as OPD care, doctor consultations, vaccinations, accidental cover, and more.
Affordable child health insurance plans can be purchased for children of every age like newborns, teenagers, or pre-teens. Most health insurance plans in India offer coverage for up to 3 dependent children up to a specific age limit (usually 25 years of age) which may vary from insurer to insurer.
Health Insurance for Children Eligibility Criteria
Child health plans have specific eligibility criteria which are mentioned below
| Minimum Entry Age | Day 1/ 91 Days (Varying from insurer to insurer) |
|---|---|
| Maximum Entry Age | 25 Years (Upper age limit depends from insurer to insurer) |
| Exit Age | Once the dependent child is financially independent |
Do Children Need Health Insurance?
A common debate among policyholders is whether children should be covered under the health plan, let us find out the answer:
- Vulnerable Immunity
Newborns, infants, and toddlers are more vulnerable to illnesses than adults. Common colds, infections, and other ailments may affect children frequently if their health is neglected. Unforeseen medical expenses covered by child health insurance make it easier for you to manage finances. - Prone To Major and Minor Injuries
Children are prone to injuries and accidents as they have an active lifestyle. It is easier for young children to get injured during sports activities or simple physical activities. With child health insurance you do not need to worry about medical expenses in case of an unfortunate injury. - Shield Against Medical Inflation
Medical inflation is at an all-time high across the globe. It is important to protect your children by including them in child health insurance to cover them for both unforeseen and planned medical expenses. - Ensure Preventive Healthcare
The initial years of a child are crucial as they require consistent check-ups, vaccinations, and more. Investing in affordable health insurance will help you cover all expenses for your child’s medical care. - Tax Benefits
Investing in child health insurance not only protects your child but also provides you with tax benefits under section 80D.
Inclusions and Exclusions of Child Health Insurance
Here are some inclusions and exclusions available under the child health insurance plan:
| Inclusions | Exclusions |
|---|---|
| OPD covers including doctor visits and check-ups | Pre-existing conditions like diabetes, BP, or any others |
| Hospitalization expenses include room rent, ICU charges, tests and diagnostics, etc. | Specific treatments |
| Surgeries and advanced treatments | Injuries caused due to involvement in illegal activities |
| Medicine expenses | Fertility treatments depending on insurer to insurer |
| Emergency ambulance services | Dental care |
Benefits of Investing In Child Health Insurance Plans
The many benefits involved with child health insurance plans are:
- Avail comprehensive coverage with a child health plan covering expenses for hospitalization, vaccination, accidental injuries, OPD care, and more.
- Investing in a child health plan will ensure your peace of mind as a parent and give you a shield against medical care expenses.
- Cashless hospitalization is available every time your child needs medical care allowing you to focus on your child’s health without worrying about finances.
- Avail family discount on adding your dependent child under your health insurance plan as per the availability varying from insurer to insurer.
- Ensure proper medical care for your children from day 1 with an affordable child health insurance plan.
How To Buy The Best Child Insurance Plan
Follow the following steps to purchase an ideal child health insurance for your medical care needs.
- Figure Out Your Needs and Requirements
Consider your child’s age, health condition, family medical history, potential health risks, and more to make a purchase decision. - Compare Different Child Health Plans
Do not rush into buying the first child health plan you discover online, compare premiums, features, coverage benefits, additional benefits, and more to find your perfect fit. Turn to PolicyX insurance experts for further assistance. - Find Network Hospitals
Medical emergencies arrive unannounced which is why you should always be prepared. Find network hospitals available around your vicinity when purchasing a child health insurance plan so you can avail efficient medical care. - Understanding Claim Settlement Support
Before purchasing a child health insurance do your research about a health insurer and the claim settlement efficiency. - Consult PolicyX Insurance Advisor
If you have done your research online and are overwhelmed with the same, it is best to consult an insurance expert at PolicyX as we will guide you towards the best and most affordable health insurance plan for children.
Child Health Insurance: Avoid These Common Mistakes While Buying
- Do not make the mistake of opting for a lower sum insured to reduce your premiums. Health insurance for children with a lower sum insured may not be able to provide you comprehensive coverage.
- Do not hide your child’s medical history from the insurer as it will hinder your child from availing efficient medical care or worse, result in claim rejection.
- Do not ignore any additional charges such as a co-payment clause, if there is any mention of the same in your child’s health plan policy wording.
Wrapping It Up
Investing in a child’s health insurance is an essential duty as a parent as it safeguards your child’s future. A health insurance plan will support their medical care expenses at every stage of their life.
To find the best affordable health insurance plans for children you can connect with PolicyX insurance experts at 1800-4200-269.
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Children Health Insurance: FAQs
1. What is a child health insurance?
A child health insurance plan is a contract between an insurer and an insured individual wherein the health insurer will bear all the medical care expenses for the insured individual/children.
2. Can you cover a dependent child under your base health plan?
Yes, you can cover your children under a health plan to provide them coverage against medical expenses.
3. What are the eligibility criteria for a child health insurance plan?
You can cover a newborn child from day 1 or cover a newborn as early as 90 days up to 25 years depending on insurer to insurer.
4. What is the best time to purchase a health insurance plan for your child?
It is best to purchase a child’s health insurance as early as possible. The earlier the purchase the cheaper the premiums.
5. What are the waiting periods applicable under child health insurance plans?
Yes, there are certain waiting periods applicable under child health plans such as pre-existing diseases for up to 2 to 4 years and an initial waiting period for 30 days.
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Written By: Simran Kaur Vij
Simran is an insurance expert with more than 4 years of experience in the industry. An expert with previous experience in BFSI, Ed-tech, and insurance, she proactively helps her readers stay on par with all the latest Insurance industry developments.
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