In a country where around 75% of people pay for medical expenses from their own pockets, health insurance for children is still a distant dream. However, there are many reasons to get health insurance for kids. This article will help you understand how such plans provide great financial support in giving your child the best medical care.
Parenting can be an extremely rewarding experience but entails many responsibilities, which can be exhaustive, financially, and emotionally. You must care for your child’s every need, be it physical, emotional, or financial. For instance, a sick child needs your physical presence, and at the same time, you are responsible for meeting all the ensuing medical costs.
Getting a separate medical insurance policy is a good way to relieve at least some stress associated with your child’s health. Getting health insurance for your child will ensure they are financially covered and guarantee higher quality medical attention.
What is child health insurance?
Child health insurance is an exclusive category that provides health coverage for children getting sick, contracting diseases, needing surgery, having an accident or any other medical emergency. Usually, child insurance policies are available for children up to the age of 25.
You can buy child health insurance separately or as a top-up to your own or family health insurance plan.
Why should you get health insurance for your child?
- Higher chance of getting sick
If you have been around children, you know that they can get sick quite often. This is because their immunity is still building. They may contract diseases at school or when they go out. Getting health insurance will take care of their medical requirements at any point.
- Rising lifestyle diseases
In today’s environment, a growing number of children are getting lifestyle diseases. Having health insurance for them, helps parents protected from the financial uncertainty stemming from such risks.
- Medical inflation
The cost of medical care is constantly rising. With insurance, you may save money for your child’s medical care. Insurance will ensure your child gets the best medical attention possible and cover your finances.
- Expensive dental care
Children are prone to dental accidents and dental procedures. Dental care is extremely expensive and can cost a sizeable chunk of the pie in the purse. Health insurance can play a pivotal role in saving money and getting your child the dental care, they deserve.
- Tax benefits
Another significant advantage of getting health insurance for your children is that you can claim tax deductions for it.
Child health insurance is a recommended and worthwhile investment and can improve your financial preparedness quite a bit. Additionally, it will ensure that your child gets top-notch healthcare if there is an emergency. You can opt for the best insurance plans for your children on Geojit’s online portal.