Health Insurance for a Newborn? Know Why It is Important

The newborn member is the most loved one in the family. The little one not only brings boundless happiness in the home, but also a sense of responsibility in every member.

Are you too overjoyed with the latest addition in the family? Have you too started behaving more mature and responsible towards the little bundle of joy? If so, make sure you consider health insurance for the newborn without giving it a second thought!

The Need for Health Insurance for a Newborn

Of supreme importance for the well-being of the baby, health insurance is an element to be prioritised. Why? It is because you never know when a medical emergency related to the newborn will arise and leave you with a massive lack of funds or in a pool of debt.

To meet and cover critical complexities of childbirth and medical expenses, in case of medical emergencies, without causing harm to the little one, it is important to opt for the best new born health policy.

Having said that, go for health insurance for the newborn boy or girl without thinking twice so that you don’t end up draining your funds in securing their health or compromising on the baby’s health just because of lack of funds at your end.

The Process

The baby only becomes eligible for health insurance after he or she has completed 90 days. So, make sure you do not look for insurance policies that cover the child from their day of birth as they are quite rare.

The newborn baby cannot be insured from the day of birth, however the parent can cover them by adding them to their policy so as to take care of all the early vaccinations and post natal care.

Here are a few steps you need to be aware of in advance:

• It is important to inform the insurance company about the birth of the child, and that too within a span of seven days.
   
• Once aware of the childbirth, the insurance provider provides one with the applicable plans for the coverage of the baby. It it important to note that the plan advised are designed to cover the newborn baby after 90 days and may include numerous other options at the time of renewal.
   
• At the time of policy renewal, the required documents also include the birth certificate and discharge card.
   
• After the submission of the required documents, the calculation of premium is done and informed.  

What All You Gain With Health Insurance for Newborns

• The option of health insurance for a newborn is extremely beneficial in significantly reducing the overall medical expenditure. So, you don’t have to worry about spending all your savings, if the need arises.
• The feeling that your new born baby is safe and secure, especially in case of an emergency is priceless. Nonetheless, you can gain this satisfaction with the best newborn health policy.
• Since the premiums involved in a health cover for a newborn baby are considerably less in amount, you won’t have to bear the stress of spending way too much for premiums.
• At last, you can celebrate the happy times and welcome the new member of your family without having to spend even a minute thinking about the finances and security.

When looking for or buying a health cover for your newborn baby, first and foremost, take into account that it will be different from buying a health cover for adults. There are multiple factors that one has to consider before choosing the best possible insurance cover for your newborn. 

Let’s take a look at what all aspects what one should look for to buy the best health insurance for a new born baby:

• Waiting Period

​Protecting your newborn from any unwanted medical emergency by opting for adding him or her to your existing health cover will be beneficial in the beginning. Reason? It will cover the basic immunisation costs until insurance companies (after waiting the specific waiting period) start the coverage.

• Coverage

Coverage to new born babies are provided when they have completed 90 days. It is important to ensure that the company one has chosen provides coverage for the baby as early as possible. This, is quite beneficial in case the newborn is diagnosed with a condition during the time of his or her birth.

• Premiums

When it comes to premiums, note that the premium payable for baby’s insurance policy is calculated after all the new born’s documents have been verified and analysed. Certain insurance companies provide coverage for newborn children as an extension of the family health insurance cover, without any additional costs. But, many insurance companies levy an additional cost for covering expenses of the new born baby and insuring him/her under the existing family plan.

• Employer Coverage

Are you a part of your organisation’s group health plan? If so, you can get your newborn added to it. All it would require is filling up an application or enrollment form.

• Terms and Conditions

Finalise your decision on a health insurance policy for new born only after you are well aware of all the terms and conditions of the policy. This element is important as each insurer has their separate set of conditions that one needs to comply with.

Now that you know the importance of buying health insurance for a newborn, choose the best one so that you are always ready to protect the health of your little one.

Also Read

Health Insurance Policies for Newborn Babies in India

Child Health Insurance or Newborn Baby Cover– Concept, Importance & More