Benefits of Health Insurance for Children
Updated On Mar 17, 2021
Table of Contents
Children are the future of a country. They should stay fit and healthy at any cost in their growing years of life because these years are one of the crucial stages of one's life. To ensure that children stay healthy as a parent one can create financial backup for them in case of any medical emergency by opting for a children health insurance plan. These plans offer a host of benefits for your little one. In this article, we have listed them out for you.
Benefits of Health Insurance for Children
It is obvious that children have a relatively weak immune system than adults and are therefore more prone to diseases and illnesses. Health Insurance acts as a shield from financial crises that can occur at the event of medical emergencies. Health insurance policies for children come with a lot of benefits with itself, mentioned below are some of them.
-
Relatively Lower Premium
The premium amount of insurance policy is directly proportional to the age of the policyholder ,that means with the increase in age of the policyholder the amount of premium also increases. That's why people enjoy high coverage with low premium rates in case of children's health insurance. Thus, the earlier one buys a good health insurance plan the lower will be the insurance premium.
-
Long-Term Financial Security For Medical Treatments
If you buy a health insurance policy at an early stage of your life you can enjoy a long term financial security from future medical expenses.
-
Secured Future of Your Child
With the health insurance policy in your hand, you can ensure a secured future for your children. Health insurance policies act as a shield from future medical expenses. You can stay tension free and can get hassle free claims of such insurance policies at the time of any medical emergency.
-
Free And Regular Health Check-ups
Most of the health insurance companies provide free health check-ups and physician visits with their children health insurance policies
-
Tax Benefits
As per section 80(D) of Income Tax Act 1961 a person can avail tax deductions on the amount paid for premium of the health insurance policy. People below the age 60 category can enjoy tax deductions of up to ₹ 25,000 while on the other hand people above the age 60 category can enjoy tax deductions upto ₹50,000. So, in case of children health insurance policy,you can avail tax deductions up to ₹25,000 on the amount paid for premium of the policy.
Disclaimer: This article is issued in the general public interest and meant for general information purposes only. Readers are advised not to rely on the contents of the article as conclusive in nature and should research further or consult an expert in this regard.
