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At the same time, Neha is equally anxious. Being a doctor she is well aware of health complications some new mothers and babies go through, especially in the first few weeks post-birth.

While Shweta is covered under the family floater medical insurance plan, Neha advised her sister to buy a health insurance cover for her baby. But like any parent or parent-to-be, Shweta was reluctant to accept that any harm could come in the child's way.

To make her realise the importance of health cover for her newborn, Neha recalled the time when one of her patient's baby was born underweight and needed incubation. The hospital bill turned out to be very steep and the new parents faced lot of difficulties to pool funds to pay the bills.

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This had Shweta worried. Not willing to take any risk, she decided to buy a health cover for her child immediately.

Quality healthcare expenses have reached the skies. Medical emergencies come unannounced and if you are unprepared, it can drain your savings. Newborns are at a high risk of developing birth related health issues and therefore it is important to opt for a health insurance for them.

Most insurance companies only provide a health cover for babies after they have turned three months old. But it is possible to provide health cover to them right from the time of birth, by adding your child to your existing family floater policy. Some insurers allow addition of the member without additional premium. Maternity health insurance can also be extended to cover newborns at an additional premium.

[Read: All You Need To Know About Section 80D]

Make sure you inform your insurer about the birth of your child (as soon as possible) to add your child to the existing health cover because there is usually a waiting period for the child to qualify for the protection. You will be required to submit documents such as birth certificate and other medical records to the insurer.

The child will be eligible for a regular health cover after completion of three months.

Buying a health insurance policy has become easy and convenient, you can now purchase it online. So should you buy health insurance online or would it be better to purchase it offline?

Online insurance lets you compare policies of different insurers based on their cost and features. They are also relatively cheaper as there is no middleman involved.

On the other hand if you purchase a policy offline, your insurance agent will be able to advice a policy best suited for your needs. The agent can help you decide what will be the optimum cover you need to take for yourself and for your family.

[Read: How To Insure Life Optimally]

Whichever mode of purchase you choose, make sure to carefully go through the fine print of the policy and clear any doubts you may have.

Since the terms and conditions of insurance companies differ from one another, it can become difficult to find the right cover for your child. You can consider the following points to choose the best policy:

• Types of expenses covered- hospitalisation, tests, room charges, intensive care charges, medications, and so on

• Illnesses covered and excluded (whether congenital disorders and vaccinations are covered)

• Premium amount

• Policy term

• Availability of cashless facility

• Wide network of hospitals

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Financial and health security is the best gift that you can give to your newborn. As you and your spouse begin this wonderful new chapter of your life having an insurance will make sure that journey ahead is smooth and stress-free.

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vijaylabana78@gmail.com Jan 06, 2020 Suggest best mutual fund

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