A guide to cover your child under your family health plan 

Berry Mathew

Updated on:

A guide to cover your child under your family health plan 

Children’s health plays a huge role in their emotional and physical development as they grow. This is in addition to their ability to achieve their full potential as adults. Without appropriate and timely health care, children may suffer from illnesses that could have been prevented. Individuals and their families will feel the impact for many years to come. It is important for parents to ensure the health of their children, which is why they should have family health insurance.

Nothing is too much when it comes to safeguarding your family. People work hard every day to provide their loved ones with the level of comfort they desire. From ensuring that your children receive the highest quality education to caring for your ageing parents and loving spouse, you do not leave any stone unturned. The safety of your family is of the utmost importance, which is why you should never settle for anything less than the most effective. A family health insurance plan stands out from the rest of the insurance options available.

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Given below are the 5 major benefits of family health insurance that covers your children:

  1. An all-inclusive policy

The family health insurance policy provides extensive coverage starting at the tender age of 91 days. A wide range of medical services like hospitalisation costs, doctor consultations, child care, treatment for injuries, and medical expenses are covered. Today, our diets are stuffed with sugary snacks and junk food, and children spend more time glued to television and playing video games. To prevent problems in the future, it is wise to undergo regular check-ups to prevent any problems in the future. 

It’s exhausting and confusing to be required to pay for different policies. There may be a different schedule for every policy. There are some loans that you can pay monthly instalments on, while there are others that you can pay yearly. Taking care of all of them at the same time as working and taking care of responsibilities can be difficult. This gap is effectively filled by a family health insurance plan, which simplifies payments and eliminates all hassles associated with the process.

  1. Lower premium rate

As you might be worried about the high premiums you will have to pay for such comprehensive coverage, be assured that the premiums for family health insurance plans are lower than those you would pay if you took individual health insurance plans for each member of your family, as it is only one plan covering up to six family members. If you were to pay separate premiums for your kids, first you may have a hard time finding a suitable health plan and second the premium for such plans can be high. 

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  1. Hospitalisation without cash

The thought of having a sick or injured child is stressful enough. Parents shouldn’t have to run around trying to find a good doctor or hospital if their child is sick or injured. You will not have to pay out of pocket if your child has to go to the hospital for a short period if you have family health insurance that provides hassle-free access to top doctors in-network hospitals if your child needs hospitalization.

  1. Pre- and post-hospitalization care

The expense of medication and investigative tests before and after a hospital stay can be a drain on a family’s finances. By having a good plan for family health insurance, parents can also avoid these expenses by having their health care expenses covered. 

In addition, other expenses associated with your child’s treatment will be covered, including second opinion consultations, alternative treatments such as the Ayush treatment, ambulance expenses, and even organ donation expenses.

  1. Benefits of tax savings

In addition to the benefits already mentioned, tax deductions can also be claimed on the premiums paid for family health insurance under Section 80D of the Income Tax Act. When you purchase a family health insurance policy, you will be able to take advantage of a tax deduction of up to Rs 25,000. 

The family health insurance plans provide you with the convenience of adding new members to your family as needed. A new member of your family (a newborn child) can easily be covered by your insurance policy from the middle of the policy term onwards, depending on the terms and conditions of the policy you are taking out. In this situation, you would simply have to make a request to the insurance company and pay an additional premium, and the child would be covered under the policy as soon as you made the request.

The Covid-19 virus, lifestyle diseases, and the growing levels of pollution in the environment are all factors that are contributing to ill health among children in turn causing a financial strain on their parents. The fact that your child will be protected by one of the most affordable family health insurance policies is not one of those things that are out of your control. Make sure that your child has the right plan today to maintain their health and well-being for the future.

Disclaimer: The above information is for illustrative purposes only. For more details, please refer to the policy wordings and prospectus before concluding the sales.