Affordable Health Insurance Plans For Kids

To meet the increasing cost of healthcare in the private hospitals at the time of a medical emergency, a health insurance policy is the wisest and most preferred way. You can invest in a health insurance cover for yourself as well as your family members and protect them against any unforeseen event that might lead to hospitalization and increased cost of medical treatment. Apart from providing medical compensation, a health insurance policy ensures quality treatment for its policyholders at an affordable price. To protect your family you can get family floater plans which can include you, your spouse, children, and dependent parents. 

Children are fragile and most prone to get sick or ill due to their building immunity. It is important to protect your children against any mishaps and have enough money to look after their medical expenses without draining your savings. You can buy a separate health insurance plan for your children or cover them under a family floater plan which includes comprehensive offers like hospitalization expenses, ambulance charges, medication costs, room rents, etc. 

Health Insurance Plan For Children 

Children should be included in a health insurance policy as they have a low or building immunity and poor eating habits.  Children are more vulnerable to contract a communicable disease and are at a larger risk of getting into an accident due to their slow reflexes. Therefore, to be precautious and shield your children against any unforeseen event, you must invest in a suitable health insurance policy. Let us look at some of the prominent benefits that can be availed on health insurance plans for children: 

• The cost of covering children under a health insurance plan is lower than any adult or senior citizen. 
• Children are offered comprehensive coverage with no limitations on the features that are included for them. 
• Additional perks like medical consultations, nutritional information, etc. are available for the children.
• No claim bonus is also provided on health insurance covers for children under which there is an increase in sum assured of the policy for every claim free year. 

Types of Health Insurance Covers Available For Children 

Following are some of the health insurance policies that can cover the children at an affordable cost: 

1. Family Floater Plans

A family floater plan can cover you, your spouse, dependent children, and parents. It can include up to 4 dependent children under this cover and the maximum age for children to be included is 25 years. It comes with a wide coverage for all the members of the family included under this plan, with enough sum assured to compensate for all the members. Some of the benefits of having a family floater plan are: 

• Special discounts are offered with the inclusion of members in a family floater plan. 
• The coverage is comprehensive and enough to meet the demands of all the members in a family without any hassles. 
• The premium of the policy is fixed and is freezed for the entire duration of the policy tenure. 
• Tax deduction benefits are offered to the taxpayer under Section 80D of Income Tax Act. 
• Add-on covers are also available for the policyholders to give them a choice for optional inclusions in the base plan. 

2. Individual Child Health Insurance Plans

These are standalone health insurance covers which provide medical coverage to the children. The sum assured under this plan is entirely for the children insured under the plan. It includes benefits like hospitalization expenses, ambulance charges, diagnosis tests, cashless claims, etc. Let us look at some of the benefits of having an individual child health insurance cover: 

• This plan comes with the no claim bonus benefits under which sum assured is increased to a certain extent for every claim free year. 
• The premium amount for this plan is lower and cheaper than the other health insurance plans available in the market. 

Conclusion 

You must analyze your needs before investing in a health insurance policy and consider several factors like medical history, pre-existing diseases, age, sum assured, etc. You must carefully go through the fine print of the policy to make sure that your requirements have been included in the cover. 

Also Read: Affordable Health Insurance Plans For Parents in 2021

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Disclaimer: This article is issued in the general public interest and meant for general information purposes only. Readers are advised not to rely on the contents of the article as conclusive in nature and should research further or consult an expert in this regard.