What is the Best Health Insurance for Children in India?
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In India, parents looking to secure their child’s health can have two popular options: an individual health insurance plan for kids or a family floater health insurance plan.
An individual health care plan covers only the insured children for a specific sum insured. In contrast, a family floater plan provides shared medical coverage for children and their parents under a single sum insured.
Although choosing the best plan totally depends on your family's needs, parents mostly prefer family floater plans due to wider coverage benefits at a cost-effective price.
What Makes Family Floater Health Insurance Better?
- Cost-efficiency
In this plan, along with your kids, you can also enjoy the coverage benefits under one single premium. This is why, rather than buying individual plans for children, add your child to a family floater plan for wider coverage benefits.
- Flexible Coverage Options
Family floater plans provide flexible sum insured options. It helps parents to choose coverage based on their family size, lifestyle, and healthcare needs.
- Simplified Management
The family floater plan does not have the hassle of multiple paperwork. You will be able to claim and renew the policy in a single process without juggling multiple individual plans.
- Ideal for a Growing Family
For young families, the birth of a second child can create pressure to buy a new individual plan. However, if they are covered under a family floater plan, the newborns can be easily added to the policy coverage by a simple process.
When Should You Buy Individual Health Insurance for Kids?
- When your child is reaching their 20s.
- If a family floater plan includes senior citizens with high risk.
- When a child has a chronic or pre-existing disease.
- You want to give your child long-term coverage benefits like a no-claim bonus.
Key Coverage Inclusions in a Health Insurance Plan for Children
- Inpatient Hospitalisation Expenses
- Pre and Post Hospitalisation Cost
- Day Care Treatments
- Vaccination Coverage
- Coverage for Ambulance Charges
- Cashless treatment in a network hospital
What is Excluded in a Health Insurance Plan for Children?
- Pre-Existing Diseases
- Congenital Disability
- War or Nuclear hazard-related injury
- Personality or Behavioural Disorders
- Adventure sports caused injuries
Why is Health Insurance Necessary for Children?
- Health insurance gives a child access to quality health care.
- It will help you handle the unexpected costs of sudden medical emergencies.
- Numerous health insurance policies for children include coverage for vaccinations, preventive check-ups, and routine screenings.
- Your kids can lead a healthy lifestyle with regular check-ups and preventive care.
- Sometimes, add-on coverages can also provide benefits for pre-existing medical conditions or sports-related injuries for kids.
Final Words
Among the two health insurance options for kids, a family floater plan is considered to be a popular option.
The reason is simple. It is a cost-effective, flexible, and easily managed method that helps both children and parents receive timely medical care with less financial burden. However, if you want to give your kid specialised protection, individual health insurance is also not a bad idea.