The insurance policies that cover the child from their day of birth are rare. Once the baby completes 90 days, they become eligible for a 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.
It is very important to add your child to your health insurance. The costs related to the newborn baby can be huge and can shift your entire financial planning. A small increase in your premium can secure you from unforeseen financial expenses of your newborn and lets you enjoy the time with them care-free.