Congratulations, proud parents, and best wishes for all the wonderful times ahead!
It is indeed such a beautiful and thrilling feeling; welcoming your bundle-of-joy into the world. As young parents you would be busy making the house baby-friendly, and preparing yourselves mentally for those exhausting days and sleepless nights ahead! This is as good a time as any to get your financial house in order along with your home, starting with adequate health insurance cover to protect the little one in times of need.
Why Health Insurance for Newborn:
The primary reason for checking this item off your family's future planning list is to be able to enjoy every moment of life with your tiny tot, without fretting over financial adequacies. Besides, we know how medical and hospital expenses are surging by the minute. Add to that the unpredictable nature of life and health - infants tend to fall sick more often, and childhood complications cannot be ignored either. Before you know it, you are facing an unexpected and serious drain on your savings, if the baby takes ill and is hospitalised. Covering your baby under a solid health plan will help take the load off with regards to financial security and hospitalization requirements.
Types of Policies for Infants:
Insurance industry believes that there are two aspects for a new born: coverage for the first 90 days and coverage beyond 90 days. While coverage beyond 90 days is offered by several insurers as mid-term inclusion, coverage till 90 days is offered under maternity cover.
There aren't any health insurance policies specifically meant for new born (up to 90 days) babies. There are, however, numerous health plans that offer maternity benefits as additional features to the basic policy, sometimes at a nominal additional premium. These benefits typically cater to both the mother and infant. Of course, since these are all covered only up to the maternity limit, it is important to check if the amount is adequate for you.
You need to check when the baby can be added into your overall family health plan. There are policies that cover the child for the first 90 days, and then allow you to add your baby's name to the policy so that s/he is covered once the 90 days threshold is complete. There are others which give a 90-day cover, but allow you to add your child into your family health plan only at the time of renewal.
For the young one, the medical expenses normally covered are early vaccinations, postnatal hospital care, medical assistance and treatment of certain complications. Again, this would depend upon what the insurer offers under the particular policy purchased or opted for.
How to Apply for Health Insurance for your tiny tot:
Remember that your baby's health cover has to be initiated and is not included by default!
The way to apply for health insurance for the little one is to update the insurer as soon as your baby is born, which would require submission of the birth certificate. The insurer then calculates and informs you of the extra premium amount. Important to note: Some insurers allow you to make the addition even during the term of the policy, while others allow it only in the next renewal cycle.
Once the addition is done, the health cover includes your child's medical expenses as well. In a few cases, the insurer covers the child till renewal but within the limits of mother’s cover.
Points to Consider When Seeking Health Insurance for your Baby:
 Specifically ask whether the baby's expenses from birth are covered in the family health plan limits or maternity limits.
 Enquire about what kinds of expenses are covered and to what extent, whether family or maternity-specific policy
 Additional premium, however slight, might have to be paid
 At what stage does the insurer allow you to add the baby to your family health plan.
 Medical cover would vary with products - some cover vaccinations while others include birth complications too
Do you already have a family health policy, or are you interested in purchasing one? Sana.Insure can help you decide on the optimal health plan for you, your spouse and your baby. Share your existing policy details and/or your basic details like age, location, expected sum assured on sana.insure, and a Sana Expert will contact you for assistance and advice.
Wish you a healthy and happy life!