NewBorn Child Health Insurance

Parenthood comes with a lot of new things which makes a couple happy and nervous at the same time. We know that the anxiety related to parenthood will take many days to settle, but you don't have to worry about the associated hospitalization expenses if you have an adequate insurance cover for your newborn.

One cannot overlook the cost involved during maternity along with several factors that a couple should keep in mind to make sure about a healthy pregnancy. The expenses related to normal delivery in a decent hospital in any metro city might cost between Rs 60,000 to Rs 2 lakh as high-end hospitals spreading their web across the country. Such sky-touching figures only suggest a need for proper planning of finances towards the expenses that will be incurred. Therefore, a cover for the newborn offered by several health insurance companies is the best solution to deal with the same.

What It Means To Insure a Newborn

As we already said, along with the fact that parenthood is the time to experience a whole new world, parenthood is also the time to be extra responsible and careful about your newborn child. From attending to the newborn's needs and making adjustments in the work-life, to taking care of its health, there is nothing that is as fulfilling as the role of a parent.

When it comes to the well being of a newborn, health insurance should be at the top of the list. The reason for this is the rising medical issues that can easily drain off one's funds, leaving him/her in a debt. Hence, make sure the baby is protected during any medical emergency, purchasing a comprehensive health cover is the right way to go, to the health of your newborn baby. One can always benefit from multiple family floater policies or maternity insurance coverages to get your newborn insured, even though there are only a handful of health insurance policies created specifically for newborn babies.

What is New Born Baby Health Insurance?

New Born Baby health insurance is designed to look after the healthcare needs of the mother and their newborn babies. These plans offer complete financial safety to the newborn baby by covering their pre & post-natal needs related to hospitalisation and other expenses including pre-hospitalisation, post-hospitalisation, modern daycare procedures, ambulance charges, etc.

Many Health Insurance companies provide newborn baby coverage either as an optional cover or as an inbuilt cover with maternity.

Health Insurance Companies

Salient Features of Maternity Health Insurance Plans

1 Comprehensive Coverage

It covers pre and post hospitalization, ambulance services, medicines, hospital room rent and doctor’s consultation fees.

2 Pre and Post-Natal Care for The Newborn

Most maternity health insurance financially protects the newborn, along with the new mommy, in case she is diagnosed with critical illnesses.

3 Hospitalization Coverage

As mentioned in the maternity health insurance policy document, pre and post hospitalization expenses related to pregnancy will get the required cover.

4 Cashless Facility

At the cashless facility at the network of authorized hospitals across India, maternity health insurance plans of leading insurance companies offer the cashless facility.

5 Claim-free Bonus

The maternity insurance plan comes out with no claim bonus as well on completion of every claimless year.

6 Fast and Systematic, Streamlined Online Application

Just at the click of a few buttons, maternity health insurance plans offer individuals the convenience of online application.

7 Tax Savings

As per section 80(d) of the Income Tax Act, 1961, tax benefits apply to maternity health insurance policies.

8 Waiting Period

After nine months to six consecutive policy years, expenses related to maternity will be liable to get the required cover.

9 Flexibility to Select The Insured Sum

The applicants can choose the adequate sum assured as per his/her needs.

Insurance for Your Newborn

As we already discussed, becoming parents is, indeed, one of the most wonderful feelings, but however, that signals too of time to be more responsible. And to help with this, in recent years one more step that is taken by various families to ensure they remain shielded from a lot of diseases in the future, is preserving the stem cells of a newborn is also a major step. Another vital that parents can take to easily handle the medical expenses and at the same time secure the health of the newborn, is taking a health insurance cover for him/her. The new parents can take advantage of various family floater policies or maternity plans to insure the healthcare needs of the newborn.

Checklist While Choosing a Plan For The Newborn

Here are a few factors that are vital to analyzing these factors before finalizing the health care plan that matches your needs:

1. Premium

   Insurance for a newborn baby as a part of family health cover, without any additional charges, are some of the top beneficial offers by insurance companies. However, an additional premium for covering the medical expenses for the newborn and insuring the infant under the existing health insurance plan may be levied by others.

2. Coverage

   The coverage is a feature that varies from insurer to insurer. Some companies may include cover related to illnesses or congenital disorders, whereas others may cover only vaccination-related expenses.

3. Upgrades After 90 Days

   This is a basic feature of a health cover that most of the companies allow the individuals to include their children into floater policy after they attain the age of 90 days. It is advised to make sure that to choose a company that offers the newborn to be included at the earliest as insured under the health plan.

4. Customization

   It is advisable to select a company that allows a policyholder to customize the plan as per his/her budget and needs, in case anyone is planning to include multiple members of the family for a health insurance cover.




5. The Terms And Conditions

   Under some health insurance policies by several insurance companies, it is a compulsion to inform the insurer about the birth of their child immediately for availing the benefits. Hence, it is necessary to go through terms like these in a detailed manner.

Benefits of a Health Insurance Policy for The Newborn

• Secure Health of The Newborn: We have to agree that the health of a newborn is a very sensitive thing. As because of weak immune, they get it very quickly. Hence, it becomes a worrisome thing for new parents. Here, having health insurance for the newborn acts as a support system and secure the Lil baby's health.
• Minimized Medical Expenses: If someone purchases a health insurance policy for his/her newborn, it benefits the policyholder with an overall minimized medical expense.
• Premiums, if Applicable, are Reasonable: Though the health of a newborn is the main thing of concern for the parents, this is to keep in mind that the premiums must be justified as well. So, when a new parent buys a health insurance policy for his/her newborn, it benefits him/her with a reasonable premium with maximum benefits.

How Can I Add a New Born Baby to my Existing Health Insurance Policy?

There are several health plans launched by health insurance companies for newly born babies. A newly born baby can easily be added into a family floater health insurance plan or group health insurance plan. The policyholder can add the baby when the annual renewal of the policy is initiated. The insurance company should be informed as early as possible if you want to get your baby included in the plan. Generally, the minimum age bar set by the insurance companies is 91 days, however, there are insurance companies that provide coverage from day one of the birth of the child.

Process of Adding NewBorn Baby to your Health Insurance Plan:

• Inform the Insurance company as soon as possible
• Fill out the application form with all the documents and details attached to it.
• At the time of renewal, by paying the additional premium you can add a new member of your family to your health plan.
• Once the premium is received, the revised policy document will be shared with you over your registered email address.

Documents Required

The following documents are to be attached with the application form:

To Sum Up

Every parent wishes to provide the best care, which also includes health insurance to their new born baby. However there are not any health plans specially designed for newborn babies, hence the best way to protect the healthcare needs of your child is to rely on family floater plans and maternity plans. One can get rid of the worries related to the health of his/her child, by selecting the appropriate plan. By following this, a policyholder enhances the focus on the betterment of his/her newborn's future.