Children's Day: 5 things to know while buying a health insurance plan for your kid

Children fall sick so easily as they have less immunity power than adults and pollution, bad eating habits, make them vulnerable to the diseases more often. As parents, it becomes necessary to take care of your child as much as you can, make them eat well, and keep them away from infectious diseases.

But some things are unavoidable in life, for which we need to be prepared financially and mentally. A few infectious diseases like malaria, pneumonia, diarrhoea, etc., can affect your child’s health severely. Hospitalisation expenses are skyrocketing these days and you would ever want to compromise with your child’s health. Buying health insurance for your child could be a possible answer to this. But, here are a few things to remember so that you can make your protection plan work for your child.

Buy as soon as possible

Hospitalisation expenses at the time of giving birth to a child is already high, you cannot afford the post birth complications to your child. You can buy health insurance after 90 days of their birth. You can it according to the health report of your child

Always look at the exclusions

There are various exclusions of general health insurance plans, you need to have add-ons to your child’s health insurance policy to give comprehensive protection. Look up to all the possibilities that can happen to your child and buy health insurance accordingly. Insurance companies provide add-ons to your policies as per your customisations and health reports. If it seems necessary you can buy add-ons too.

Add your child in family insurance plan

If you already have a family floater health insurance plan, inform your insurer to add your child from the day one of their birth, so that you can get all the financial benefits from your insurer. It might become expensive for you to buy a single health insurance plan for each of your family members. It would be best if you add your spouse, children in a single health insurance plan.

Make appropriate and honest disclosures

Always remember that any misinformation, and conceived information would result in difficulty in receiving your claim at the time of need. It is better to disclose all the material information at the time of buying health insurance of your child about the health issues.

Opt for postnatal care insurance plans

Various health insurance companies provide postnatal care and vaccination plans. You do not have to care about these regular care of your child financially. Opting for such a health insurance plan would let you financially free, you only need to care about your child mentally and emotionally.

By taking the above mentioned points as suggestions, you can keep your world’s most important person, your child, in your protection. Health insurance protects you from the expenses you have to incur in planned and unplanned hospitalisation, pre and post-hospitalisation costs, daycare treatment expenses, etc. Read all the terms and conditions properly and make informed financial decisions.

Anushka Trivedi is a freelance financial content writer. She can be reached at anushkatrivedi.com