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Are You Sure You Have Kids’ Health Insurance Coverage?

One fine day, Riya and Akansha talked while their kids played in the park beside them. In the meantime, Riya’s son fell and hurt himself, so she started to think, Must we get our kids insured too? In turn, they decided to look for child insurance and found the following ways.

Everything You Need To Understand About Health Insurance

Indian Child health care plans cover individual child wellbeing plans, family floater health plans. These plans have lower expenses, tax reductions, added advantages, limits, add-on covers.

Kids do everything for their parents. As a parent, one would do anything and everything in their power to ensure your kids have the best of everything. Ensuring they have all that they need. Sound adolescence is something that each parent aims for. From an overall development, schooling to the most impressive colleges’ parents does everything. Besides dealing with your kids’ material solaces, guaranteeing they are sound is indispensable. Youngsters have lower invulnerability contrasted with grown-ups. They are more powerless to infections, for certain sicknesses focusing on kids.

Even small doctor visits may dig a hole in parents’ pockets. Immunizations, Dental and mental health check-ups, inoculations can also be very expensive. This makes buying the perfect healthcare coverage for our children essential. As important as their health is for parents, having plenty of savings to provide for them is the main clause too. A one-week hospitalization or surgery could drain all the savings. Here insurance would not let you pay a penny. 

Types of Child Health Insurance Plans in India

There are different types of healthcare coverage for children In India: 

1. Individual Child Health Plans

Individual child healthcare plans give a massive number of advantages. Credit-only hospitalizations and complete inclusion are some of them. Other than hospitalization, these plans cover clinical check-ups, rescue vehicle charges, expert expenses. It can be personalized as per the users liking. It has many benefits like:

  • Lower Premiums: The costs charged for these plans are down. This is because the danger related to the protection is insignificant. This helps the guardians to save money on premium sums.
  • Added Perks- These plans often incorporate advantages like cashless hospitalization. This permits guaranteed treatment at partner medical clinics.
  • No Claim Bonus: A few plans offer a No Claim Bonus, where the superior sum payable for the accompanying term is decreased, or the Sum Assured is raised without charge in case there are no cases made during a specific period.


2. Family Floater Health Plans

A family floater well-being plan is a health insurance coverage plan that covers the whole family. These plans can cover the essential holder, companion and up to 4 youngsters. These plans are by and large extended haul plans and new individuals can be added ahead of schedule as birth. The benefit of such programs is your youngsters are covered. Right from birth, including medical clinic stay to newborn child immunizations, are prioritized. It has many benefits like:

  • No hassle plan tracking: This makes it simpler for the policyholder to track the arrangement. It makes it easier to track the extra covers too. Recording a case is additionally less complex as the cycle can be smoothed out. The plan thus is carried out with relative ease.
  • Discounts: There are unique discounts related to adding individuals to an arrangement, and the younger the addition, the lower the premium.
  • Fixed Premiums: Expenses are selected for the span of the strategy term, freezing premium installments for that length.
  • Add-on covers: The presence of an extra body makes the plan very flexible. The extra cover provides a lot of benefits at minimal expenditure.
  • Tax Benefits: Tax reductions appreciate tax breaks of up to 30k on plans for senior residents and up to 25k for other people.



Even if your pockets do not run as deep, healthcare insurance is something affordable. Programs have a design to meet all your medical needs at a minimal cost. Buying insurance at the last minute is a very bad investment. Parents who value nothing more than the well-being of their children shouldn’t do that. With all the benefits discussed, buying child healthcare insurance is a good investment. This will reap significant results. It is in the best interest of a family to have child insurance. This has become even more important with the coronavirus situation looming around.


Is GST applied to financial services as well?

Yes, GST is a mandatory tax on all goods and services. Hence, a GST rate of 18% is applicable for all financial services effective July 1, 2017.

Is Individual Healthcare Plan better or Family Healthcare Plan better?

There is no correct or wrong answer to this question. Some people prefer having individual plans, while others prefer having a family plan. It's a matter of their comfort and beliefs. Family health care plans help ease the process. Individual plans, on the other hand, can be more personalized.

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