How is insurance for developmental and neurological issues in children different from normal health insurance? – The Financial Express
This insurance policy for children with developmental and neurological issues will give one access to the best therapy and treatment options without any financial limitations.
In today’s time, having health insurance is critical for maintaining physical and mental well-being in everyday life. With less than 3 per cent penetration in India, health insurance itself is a huge need-gap that needs to be addressed.
Nitin Bindlish, Founder and CEO of Mom’s Belief, says, “The health sector still has a big unaddressed market in terms of health insurance for mental wellness, specifically for children. Among the various disorders that fall under mental health, some require hospitalization, while most are managed with therapy.”
In an exclusive interview with Priyadarshini Maji, he explains how parents and guardians of children with special needs already face several challenges and how the time is ripe for health insurance that addresses the specific needs for children and their wellness.
Do you see the need for Insurance in the mental health sector?
Despite recent policy and insurer efforts, the health sector still has a big unaddressed market in terms of health insurance for mental wellness specifically for children. Among the various disorders that fall under mental health, some require hospitalizations, while most are managed with therapy. However, all of these treatments require financial support and thus, the time is ripe for health insurance that addresses the specific needs for children and their wellness.
What gap will this insurance policy be filling?
With the Mom’s Belief Care-Aadvik Health Insurance plan, we are trying to bridge the affordability gap that is a problem for parents of some special children with developmental needs. We are trying to provide a holistic solution that also ensures access to uninterrupted therapy and treatment of their special one.
This insurance policy for children with developmental and neurological issues will give them access to the best therapy and treatment options without any financial limitations. This initiative will aid the overall and wholesome progress of every child enrolled with Mom’s Belief Care.
How is this different from the normal health insurance policy?
These Health Insurance plans, are comprehensive Group 360 plans, underwritten by Care Insurance, and offer a wide choice of Sum Insured to parents. Families enrolled with the scheme can now choose annual insurance options ranging from Rs 1.5 lakhs upto Rs 4 lakhs, depending on their requirement. The plans cover Cashless access to IPD, OPD, Therapy, Pathology, and Nutrition for the enrolled kids. The Family Floater plans cover Parents and family as well.
What is all covered in the insurance policy for developmental and neurological issues in children?
The comprehensive health insurance offers coverage for Autism, Down’s Syndrome, Global Developmental Delay (GDD), Attention Deficit Hyperactivity Disorder (ADHD), Intellectual Disorders, Speech Disorders, and even Epilepsy in kids.
The insurance covers IPD across more than 17,000 partner hospitals, OPD benefits, and Therapy. Pathology and Nutrition supplement benefits can also be availed with empanelled partners. Both Individual and Family Floater health insurance options come with the Cashless facility for all forms of therapy, including Centre-based, Online and Home therapy. Besides Covid-19 cover, the insurance offers in-hospitalization/IPD inclusion as well, for children currently undergoing therapy.
The policy covers OPD – What are the benefits included in the OPD?
The Mom’s Belief Care plans are comprehensive plans and include several OPD benefits. For example, for a Sum Insured of Rs 2,00,000, OPD benefits of Rs 1,00,000 are included.
Online/Offline/Group/Centre based Therapies and Doctor Consultations upto Rs 50,000.Developmental Screening and Assessments upto Rs 10,000.Food Supplements and Pathology upto Rs 25,000.Online Parent Program benefits upto Rs, 5,000. Resource Program upto Rs 10,000.
The premium for this insurance?
Families enrolled with the scheme can choose annual insurance options ranging from Rs 1.5 lakhs upto Rs 4 lakhs, depending on their requirement. The plan premiums range between Rs 16,000 to about Rs 31,000, adjusted for Income tax benefits.
Inclusion and exclusion in this insurance policy?
The health insurance plans have the standard inclusions and exclusions typical to health insurance- for example, IPD and Day Care is covered upto the sum insured, Pre and Post hospitalization (30 days and 90 days, respectively), road ambulance coverage, etc.
