alexa
Indianmoney.com Missed Call Number

What is your Credit Score? Get FREE Credit Score in 1 Minute!

Get Start Now!
Home Articles Health Insurance for Minors

Health Insurance for Minors

IndianMoney.com Research Team | Updated On Saturday, July 20,2019, 05:51 PM

5.0 / 5 based on 1 User Reviews

Health Insurance for Minors

 

 

A healthy and happy child is all that a parent seeks. Besides taking care of the material aspects, ensuring your child’s physical well being is a major responsibility. Therefore, availing a health insurance plan for your child; is the best way to ensure your child receives quality medical attention whenever required.

Children have less immunity compared to adults and are more susceptible to ailments like viral fever, seasonal illnesses, chickenpox, jaundice, malaria, mumps and measles. Bringing your child under a health insurance plan is the best way to achieve peace of mind, as well as ensure finances are not depleted, when your children are growing up.

Want to know more on Health Insurance? We at IndianMoney.com will make it easy for you. Just give us a missed call on 022 6181 6111 to explore our unique Free Advisory Service. IndianMoney.com is not a seller of any financial products. We only provide FREE financial advice/education to ensure that you are not misguided while buying any kind of financial products.

Health Insurance for Minors

Advantages of Availing Child Health Plans:

Offers Customized Benefits:

The child health insurance plans cover your child from the age of 5 years. These plans help take care of the specific health care needs of your child. It helps children enjoy quality medical attention, without any compromise. A child health insurance plan saves you from spiraling medical costs.

See Also: History of Health Insurance in India

Offers Rider Benefit:

A good child health insurance plan comes with built-in as well as add-on riders, at a nominal premium. They can be availed to provide extra cover for child’s health.

Securing your Child:

These customized child insurance plans are specifically designed to insure your child and cater to the specific health needs of your child.

See Also: Health Insurance For Smokers

Types of Child Health Plans:

There are health insurance plans for minors available in the market, which offer attractive features and benefits. However, health insurance for children can be categorized into two types:

Individual Child Health Plans:

As the name suggests, these are individual plans that can be availed to mitigate risk associated with your child’s health. These plans come with added features and benefits like cashless hospitalization and comprehensive health cover. Other than hospitalization, these plans also cover ambulance charges, cost of medical check-up and specialized consultation fees.

Coverage Offered by Individual Child Health Plans:

  • Routine health check-ups
  • Immunization
  • Doctor’s consultation fees
  • Dental and vision care
  • Inpatient and outpatient care
  • Lab test and emergency services

See Also: Get Health Insurance for Your Parents Today

Benefits of Individual Child Health Plans:

  • Lower Premium Rate: The child health insurance comes with minimum premium as the risk associated with insuring the child is low.
  • Added Perks: The health insurance plans are offered with added benefits like cashless hospitalization, helping the insured avail best medical care at network hospitals. This helps save on out-of-pocket expenses and remain stress-free during emergency hospitalization.
  • No Claim Bonus: Some insurers offer the no-claim bonus. These plans get the NCB in the form of a reduced premium or a rise in the sum assured.

Family Floater Health Insurance Plans:

A family floater health insurance plan offers health insurance cover to the entire family. The primary holder, spouse along with children, are covered under family floater health insurance.

Some of the best health insurance plans offer added benefits like health risk assessment, primary consultation with experts, health information on nutrition and diet and so on. These are long-term health insurance plans and the key benefit is it covers your child from birth.

Some policies have a waiting period of 90 days after which the new member can be added to the existing family health insurance plan. These health insurance plans take care of the hospitalization expenses along with other necessary expenditure like vaccination of the infant and so on.

See Also: 10 Mistakes to Avoid While Buying Health Insurance

Benefits of Family Floater Health Insurance Plan for Your Child:

  • High Insurance Coverage: The sum assured on family floater health insurance plan is huge. It helps the child enjoy high insurance cover.
  • Special Discounts: The primary policyholder gets an additional discount on adding new members to the existing health insurance policy. The discounts are higher when a younger member is added.
  • Tenure: As these are long-term health insurance plans, they cover your child till the age of 21 years. So, you can save on hospitalization and medical expenses which otherwise you have to bear while your child is growing up.
  • Additional Covers: The insurers extend several beneficial riders on the family floater health insurance plans. You can avail a rider which suits your child’s medical requirements by paying nominal amounts.

You May Also Watch

Keep your Financial Cognizance up to date with IndianMoney App. Download NOW for simple tips & solutions for your financial wellbeing.

Have a complaint against any company? IndianMoney.com's complaint portal Iamcheated.com can help you resolve the issue. Just visit IamCheated.com and lodge your complaint. If you want to post a review on any company you can post it on Indianmoney.com review and complaint portal IamCheated.com.

Be Wise, Get Rich.

Related Articles

 

Did you find this article useful? You can Rate us
5.0 / 5 based on 1 User Reviews
Article Author

IndianMoney.com Research Team

The research team at IndianMoney.com comprises of certified and experienced professionals who share the company's vision to make every Indian financially literate by equipping every Indian with right and unbiased advice. IndianMoney.com research team provides newsletters, articles, videos and FAQs on various financial products and concepts only to help you make wise financial decisions.

What is your Credit Score? Get FREE Credit Score in 1 Minute!

Get Start Now!
CIBIL Meter
Get It now!
Attention!

This is to inform that Suvision Holdings Pvt Ltd ("IndianMoney.com") do not charge any fees/security deposit/advances towards outsourcing any of its activities. All stake holders are cautioned against any such fraud.