Not only adults, but even children are prone to falling ill. Getting comprehensive and broad-coverage health insurance for your children will protect your finances during the time of medical emergencies. Instead of buying a separate plan, you can easily include or add your children to all your existing health insurance plans for family. From infancy to pre-teens, children may suffer from several diseases that require medical help.
So it is always wise to have a sorted plan for their health insurance. Getting medical insurance for senior citizens, children and adults are all of equal importance. However, some things need to be noted before adding your children to family plans.
Here are some of the plans for Family Health Insurance:
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Plan beforehand
While buying a health insurance plan for a family, make sure you do market research and find out which one fits your needs and requirements. There are tons of plans available and not knowing which one to buy may put you in jeopardy in future. Consider the option of children in future and accordingly choose your plan which effectively allows you to include children in the future.
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Choosing what is right for you
With many plans available in the market, it can often be confusing and tumultuous to choose a plan that is associated with your needs. Not every single plan out there is for your child. If your children are between 21 to 25 years old, you can include them within your health insurance plan for family. However, if they have crossed the threshold, it is better to buy an individual plan for them. Children of this age range are not usually susceptible to diseases, however, the COVID-19 pandemic has taught us otherwise, where we saw children of all ages getting affected. So a health plan for children as well as medical insurance for senior citizens is long overdue.
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Take into account the scope of coverage
Before buying a health plan, make sure you consider the coverage of the insurance plan. A lower premium plan may require more money from you during medical claims while making you adjust and compromise with the additional benefits. A health insurance plan for family with a high premium will give you the scope of maximum benefits. Depending on your needs and financials, choose your insurance plan wisely considering the coverage it provides.
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Critical illness add-on
If you have a family history of a certain kind of illness and you think your child may be affected, adding a critical illness add-on to the standard plan may help you in the long run. This feature gives you access to a one-time lump sum amount if the child is affected by any of the stated illnesses. It saves major bucks that you may have had to pay otherwise.
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Be honest in your application
It is always advised to disclose all medical history of conditions of your child while applying to be included in your family plan. This raises the chances of your approval instead of being rejected. The child’s health and medical conditions should be made aware to the insurer so that your policy is customized based on your needs while covering hospitalization charges.
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Postnatal care
Not all, but many insurance plans do allow you to add postnatal care to your insurance. By doing so, you do not have to worry about spending a lot of money after the baby is born. These insurance plans that include postnatal care and vaccinations help in coverage that is not included in primary insurance health plans by default.
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Make sure you are aware of the exclusions
Before securing your child’s health insurance by adding him or her to the family plan, make sure you understand the exclusions. Exclusions are those clauses under which your child will not be insured, meaning that you will not be able to make claims or get coverage for the same. For example, some insurance plans allow you to include a child but do not allow you to make claims for hospitalizations charges done without the recommendations of a doctor. By making sure you fully understand the terms of these claims, you will learn more about the limitations of the policy and also its scope.
The best way to attain financial security for yourself and make sure your child will be safe in any illness or medical condition is the best way to secure your child’s future. Before making any additions, scan through your policy and compare it to the ones available in the market. This will help you make an informed and wise decision for yourself, your family and your child.
