eServe Newsletter March 2015

Age

Most health insurers allow addition of a child to the parent’s insurance cover once the child has completed 90 days. A few insurers also offer the facility of health cover from day one of birth under maternity benefit offered under maternity benefit offered under group health policies.

Conditions

In case of cover from day 1, the insurance provider must be informed within a week of birth. The provider may prescribe the maximum cover applicable for children under the policy.

Documents

At the time of annual policy renewal, an application to add the child along with a copy of the child’s birth certificate, maternity discharge card and copies of documents related to medical history.

Premium

Once the documents are submitted, the health insurance provider will recalculate the premium after adding the child’s cover and convey the revised premium amount. On payment of the premium, the policy will be issued covering the child as well.

Points to note

• Family floater policies usually cover children till they are 21 years old.
• Insurance firms may allow individual cover for a child over 5 years.
• A photo may have to be submitted to the TPA for issue of cashless card.