Why Buy Policy For New Born Baby?

A new child coming into a family changes the environment totally. Along with bringing joy they also add more responsibility to the family. Health insurance is therefore critical to meet the complexities arising from the childbirth. It covers medical expenses and breaks the bubble of stress. So don’t be frazzled and learn ways to meet the health expenses of your bundle of joy.

Health Insurance for a New Born Baby

The insurance policies that cover the child from their day of birth are rare. Once the baby completes 90 days, they become eligible for health insurance. Adding the child to the health policy of their family is also an available option like a family floater health insurance policy.

Age: Children cannot be insured from day one since that involves a lot of risks. But to cover them, one can add them to their parent’s policy which can cover early vaccinations and postnatal care. After completion of 90 days, the baby is eligible for insurance.

Options: The insurance company must be made aware of the child’s birth, within the seven days of birth. Then the insurance provider lets you know the applicable plans to cover the baby. The plan advised offers insurance cover to the baby after 90 days, and more options can be added while renewing the policy.

Required Documentation: While renewing the policy, a set of documents like a birth certificate and discharge card are to be included for submitting.

Premium: After the submission of the required documents, the premium will be calculated and informed which when paid the health insurance policy will be covering the child.

You may also like to Read: Income Tax Deductions for AY 2016-17

Important Points to Remember

• Floater policy can only cover the child until they reach 21 years
• For issuing cashless card, a photo must be submitted to TPA