Life Insurance for Babies

Life insurance for babies can offer many benefits, such as financial protection in case of illness. Whole life policies can even be converted to funds for education, chronic healthcare and disability needs in case of unexpected events that can make the infant ineligible for an insurance. After a woman delivers in the hospital, insurance carriers are required to cover the child for 48 hours after a natural delivery and 96 hours after a C-section.

After that period, the baby requires an individual life insurance that will pay for health care requirements, such as regular checkups with the pediatrician or any health complications that can arise. Preventive care is always cheaper, and that is why most plans cover frequent visits to the doctor. Insurance companies offer policies tailored for newborns that have specific health issues like asthma, birth defects and other complications.

Additionally, life insurance for babies can secure the future. When your child becomes an adult, he or she can already have cash value and permanent life protection. A whole life insurance provides financial security regardless of occupation, hobbies and health. The cash value grows in time and after the age of 25, your baby can cash the policy in. Another advantage is the fact that buying a policy early results in low life insurance quotes that won’t increase. Some companies even guarantee that the coverage will double at the age of 18, without any extra payments required.

In the beginning, the life insurance for babies doesn’t have to include dental coverage and vision coverage. You can add these options later to your own medical coverage. After the baby is born, you will receive the birth certificate necessary for adding him to you insurance plan. If you have private insurance discuss the situation with your agent. If you are insured through your employee, address to the human resources department.

The newborn coverage can mirror your own, having the same co-pay for emergency, physician visits and out-of-pocket expenses. If the policy has a limited number of appointments to a doctor, work together with the physician and find a way to receive proper care for your baby. You can also use a flexible spending account or FSA, if your employee allows it, to maximize the new coverage. Certain items can be bought with the FSA, such as medicine, prescribed formula and rash cream.

If you can’t afford life insurance for babies, Medicaid insurance can be a solution. Based on the rules and regulations in your state and your income, you can cover your baby with almost no cost at all.