The birth of a child is probably the most memorable event in one’s life. However, people often tend to miscalculate the importance of insurance, even for a child that is not born yet. As expecting parents, it is crucial that you understand the seriousness of insurance for your soon-to-be-born child.
There are multiple insurance companies that offer maternity insurance coverage, however, health insurance policies designed specifically for an unborn child are rare. Even then, insurers in India have started to offer multiple health insurance policies specifically for unborn children. Let us understand why insurance is a necessity for unborn children.
Importance of Health Insurance for Unborn Children in India:
With respect to nutrition and other health care responsibilities, Indian mothers may not be thoroughly well-equipped to determine the best ways of taking care of a newborn. Some of the ways in which risks to the newborn can be prevented are preconception counseling, diagnosis, prenatal screening, and so on. Despite taking great care of oneself during the period of pregnancy, one might still give birth to a newborn with genetic conditions, birth complications, and so on. Insurance for unborn children, therefore, ensure that the parents of the child are financially secure during any medical contingency. Moreover, the newborn child could also suffer from a condition that might be complicated for a regular obstetrician. In such a scenario, the parents will be required to consult a neonatologist and may also need to hire additional nurses. During such cases, a comprehensive health insurance policy will come in handy as it will significantly reduce the cost of the medical treatment and in turn, the overall financial burden.
Insurance Options for Unborn Children:
Even though the concept of insurance for unborn children is fairly new in India, there are multiple insurers in the market offering insurance covers for the aforementioned category. Some of the best options available in the market for unborn children are mentioned below:
- Max Bupa Heartbeat: You can opt for this health insurance policy if your employer has been paying your maternity benefits to the insurance company regularly. Your newborn child will get coverage right from the first day itself, up until the day of the next renewal. The insurance company, in this case, will cover all expenses of your newborn, including vaccinations. The coverage of this particular policy will last for one whole year during which your child can be vaccinated and treated for any pre-existing medical condition for free. It is always a better idea to purchase a health insurance policy before your baby is born, as the chances of rejection are higher after the birth of the baby.
- Star Health Medi Classic: If you have an existing insurance policy for your family with this company, obtaining a cover for your unborn child will be super easy and convenient. You will be required to pay an additional 10% premium towards the same, for which the company will provide coverage for your newborn as and when required.
- Apollo Munich Easy Health: Obtaining an insurance coverage for your newborn baby will become easy if you are already availing maternity benefits from this insurer. If the premiums for the maternity benefits are paid for diligently, the newborn child will get protection right from the first day itself. This particular insurance cover includes both prenatal and postnatal costs.
Purchasing a comprehensive health cover for your soon-to-be-born child might seem like an additional expense during the time of your pregnancy but it acts like a boon during times of medical emergencies and subsequently financial contingencies. Since medical emergencies are absolutely unpredictable, it is advisable to have a backup health insurance policy for your unborn child, to help reduce your financial burden during a medical emergency.