Radhika, a housewife living in Mumbai would have never dreamt of a day to discover serious health disorder of her 7-year-old daughter. Her hale and hearty girl was diagnosed with cancer, leaving her parents helpless, and full of remorse for not choosing a health insurance plan before time.

The story remains same for most of the Indian parents. They do believe and preach that ‘Health is wealth’ and the wish best for their kids, but somehow due to lack of awareness, financial crunch and busy schedules they forgot the basics. However, early treatment and measures can be facilitated with timely intervention, early planning and choice of correct child policy.

Children are termed as dependents for an insurance policy. This is because in most cases parents decide the health insurance policy for their children and their families. Large number of Indian insurance companies are offering plethora of policies that befits one’s needs and budget, with customer centric approach, companies provide cashless mediclaim, tax benefits and many other such features. If you are planning to buy a policy for your child, you can consider health insurance plans from HDFC ERGO, which covers some of the important benefits.

Let’s analyze the in-depth health insurance benefits for Kids’ in India.

Inclusion of child in floater policy: As a family floater plan health insurance policy can offer double protection by providing coverage to individual family members and the family as a whole. For example, if the family floater policy has coverage has coverage of Rs 1 lakh then this amount can be availed by any member of the family.

Access to network of hospitals: Every insurance company has a list of hospitals under its umbrella. As per the need of the hour, parents can decide and pick which hospital will best suit their requirements. This indirectly leaves them tension free to look for their choice of hospital in case of an emergency.

Emergency Medical Expenses: In case there is a family history of critical illness, it is always advisable to purchase children insurance when the child is healthy and young. If due to a medical emergency, the child has to be hospitalized, a child plan would act as catalyst by offering financial support.

Focus on varied diseases: Young children are more likely to meet accidents because of their active and playful nature. From regular medical check-ups, hospitalization and test, most of the policies cover critical illnesses also. However, before signing the documents do a thorough research about the insurer and nitty-gritties of the plan.

Freedom to choose: With increase in number of viruses and medical expenses in India, it is essential to be prepared for the worst. The market offers variety of policies and depending on the need of your child best option can be considered.

Other benefits: Health Insurance also offers tax benefits as an added advantage. The premium paid for a Health Insurance policy can be deducted from the total income under Section 80D of the Income Tax Act. The tax deduction under Section 80D is allowed for making a payment to purchase or renew a Health Insurance policy on self, spouse, dependent parents or dependent children.

As compared to adults, children are prone to catch diseases faster at a much tender age. As advised by financial experts, parent/guardians should definitely invest in a child health insurance policy to safeguard them from any future medical complications. A health body indirectly leads to mental wellbeing. Children are the future of tomorrow and a timely health insurance policy can boost their overall development.