Best Insurance Policy For New Born Baby: Welcoming a newborn baby into the family is a joyful experience, but it also comes with financial responsibilities. Medical expenses for newborns, including vaccinations, check-ups, and unexpected health issues, can be costly.
That’s why choosing the right insurance policy for your newborn is crucial. In this article, we will explore the best insurance policies for newborn babies in India, their benefits, and how to choose the right one.
Why Does Your Newborn Need Insurance?
A newborn baby’s immune system is still developing, making them vulnerable to illnesses. Medical treatments for newborns can be expensive, and having an insurance policy ensures financial security. Here are some key reasons why insurance is essential for newborns:
- Medical Emergency Coverage: Newborns may need hospitalization due to health complications. A good insurance policy helps manage these expenses.
- Vaccination Costs: Essential vaccinations can be expensive, but some policies cover them.
- Maternity and Delivery Expenses: Certain health insurance plans include maternity benefits that cover newborns.
- Cashless Hospitalization: Many policies provide cashless treatment options at network hospitals, reducing the financial burden.
- Tax Savings: Under Section 80D of the Income Tax Act, you can claim tax deductions on health insurance premiums.
Types of Insurance Policies for Newborns in India
Here are different types of insurance plans that provide coverage for newborns:
1. Health Insurance with Newborn Cover
Most health insurance plans allow parents to add a newborn baby after a waiting period (usually 90 days). These plans cover hospitalization, vaccinations, and other medical costs.
2. Maternity Insurance
Maternity insurance covers expenses related to pregnancy, delivery, and postnatal care. Some policies offer newborn coverage for up to 90 days.
3. Child Health Insurance
These are specific child-focused health insurance plans that cover medical treatments, hospital stays, and doctor consultations for children.
4. Life Insurance (Future Investment)
Though life insurance doesn’t provide immediate medical coverage, it ensures your child’s financial security in the long run.
Best Insurance Policies for Newborn Babies in India
Here are some of the best newborn insurance plans available in India:
1. Star Health Insurance – Young Star Plan
✅ Covers newborns from Day 1 ✅ Includes vaccination coverage ✅ Provides cashless hospitalization ✅ Offers maternity benefits for mothers
2. HDFC ERGO My Health Suraksha
✅ Covers newborn hospitalization and complications ✅ Covers vaccinations for first year ✅ Includes delivery and maternity expenses ✅ Wide hospital network for cashless treatment
3. Niva Bupa (Max Bupa) Heartbeat Family Floater Plan
✅ Covers newborns from birth ✅ Vaccination coverage for the first year ✅ Covers ICU expenses for newborn care ✅ Cashless claim facility at major hospitals
4. Apollo Munich (HDFC ERGO) Optima Restore Plan
✅ Covers newborns after 90 days ✅ Includes vaccination and emergency care ✅ Lifelong renewal option available ✅ Covers pre and post-hospitalization expenses
5. SBI Health Insurance – Arogya Premier Policy
✅ Covers newborn babies from 91 days ✅ Includes maternity and newborn hospitalization expenses ✅ Covers major illnesses and surgeries ✅ Offers cashless treatment at network hospitals
How to Choose the Best Insurance for Your Newborn?
With so many options available, selecting the right insurance policy can be confusing. Consider these important factors:
1. Coverage from Birth
Choose a policy that covers your newborn from birth or within a short period.
2. Vaccination and Routine Check-ups
Some policies offer free vaccination coverage, which is beneficial for parents.
3. Cashless Treatment Facility
A good insurance plan should have a wide hospital network for cashless treatments.
4. Pre & Post-Hospitalization Coverage
Look for policies that cover pre and post-hospitalization expenses, such as doctor visits, medicines, and tests.
5. Affordable Premiums
Compare plans and choose one that offers maximum benefits at a reasonable cost.
Steps to Buy Insurance for Your Newborn
- Compare Plans Online – Check insurance websites like Policybazaar, Coverfox, or individual insurer sites.
- Check for Newborn Coverage – Read policy terms and conditions carefully.
- Calculate Premiums & Benefits – Choose a policy that fits your budget.
- Contact the Insurance Provider – Clarify inclusions and exclusions before buying.
- Purchase the Policy Online or Offline – Submit documents and complete payment.
FAQs
1. When should I buy insurance for my newborn?
Most policies allow newborn addition after 90 days, while some provide coverage from birth.
2. Does health insurance cover vaccinations?
Yes, many policies cover vaccination costs for the first year.
3. Can I add my newborn to my existing family health insurance?
Yes, many family floater plans allow newborn addition with an additional premium.
4. What is the cost of health insurance for newborns?
Premiums usually range between ₹5,000 to ₹15,000 per year, depending on coverage.
5. Are there any government schemes for newborns?
Yes, Ayushman Bharat (PMJAY) provides free health coverage for low-income families.