As per reports, more than 8% of children suffer from chronic diseases that affect their day-to-day activities. The treatment of such diseases can spread over a lifetime and the expenses may be a burden on your pocket.
To help you cover such expenses, financial institutions and NBFCs provide insurance policies. These schemes offer a comprehensive coverage under a single umbrella at affordable premiums.
Child health insurance plans are an ideal solution to safeguard your kid’s health. These schemes have a higher sum assured against a minimal premium to finance any health hazard of your child.
Given below are some of the reasons for which you should avail a health insurance plan for your child.
- Higher sum assured
Some of the best insurance for child has a higher sum assured to meet various costs like doctor’s fee, hospitalisation expenses, diagnostic tests expenditures, medicines, etc.
To meet hospitalisation expenses for your child, you can avail Pocket Insurance schemes like Hospital Cash Cover offered by companies like Bajaj Finserv, which offers a sum assured of up to Rs. 1 Lakh against an annual premium of Rs. 322. This plan also provides regular cash benefit up to Rs. 3,000 to meet day-to-day expenditures.
- Easy claim process
The claim process of such policies is convenient and can be done online. You can contact your insurer on the number provided on the official website of the company to claim your coverage. You can also find the contact details on the insurance bond that you receive after your policy gets in force. Fill the claim form and furnish the required documents to get the claim processed.
- Wider coverage
The child cover insurance plan provides you with wider coverage to provide financial protection for various expenses.
It covers:
- Hospitalisation expenses
You get to enjoy a higher coverage amount to meet the expenditures for hospitalisation due to accidents, diseases, surgeries, etc.
You can also avail Pocket Insurance schemes like Child Personal Accident Cover offered by Bajaj Finserv that offers a sum assured of up to Rs. 1 Lakh against a yearly premium of Rs. 349. It also provides finance for permanent disability, fractures, etc.
- Medicine costs
These insurance plans also cover the costs of medicine before and after treatment. However, you will receive the amount for your child’s medication up to a specific limit and time.
- Diagnostic expenses
You also get financial protection to meet the costs required for the diagnostic tests of your child.
- Outpatient department costs
Individuals can also get coverage for the fees for doctor visits and other OPD services. You can also avail Pocket Insurance schemes like Student’s Plan offered by Bajaj Finserv that offers sum assured up to Rs. 1 Lakh against an yearly premium of Rs. 449. With this insurance scheme, students can meet the expenses required for hospitalisation due to accidents and avail OPD services. Students also get financial protection needed to meet educational costs in case of the demise of an earning parent.
- Convenient application process
Applicants can apply for child health insurance plans on the official website of the insurance company. To apply, log in to the official website of your insurer and fill an online application form with the required details. After you have filled the application form, you can pay your premium using any of the online methods.
- Multiple payment options
You can choose to pay your premiums using any of the online methods such as UPI, mobile wallet, credit or debit card, net banking, account transfers, etc.
Such plans protect your child from the hefty expenses required for the treatment. Consider these points while you plan to avail child health insurance India. Also, do make sure the inclusions and exclusions of your plan and select the plan suitable to your need.
