Bengaluru: 'Newborn' redefined, more insurance benefits for neonatal ICU kids
The increasing need for neonatal care has given way to a new definition of 'newborn' by the IRDA. The definition of 'newborn' as "baby born during the policy period and aged up to 90 days," brings huge relief to city-based parents whose babies battle for life in ICUs. Until now, they had to depend on family floaters and maternity plans, which many considered insufficient.
Only seven companies give newborn insurance till vaccinations
Insurance Regulatory and Development Authority of India (IRDA), the agency responsible for regulating insurance in India, had to redefine the term after repeated nudges by Newborn Medical Insurance Committee of National Neonatalogy Forum (NNF). There is no tailor-made insurance cover for newborns and the seven companies that offer newborn insurance restrict the schemes to vaccinations in the first 90 days of the child's birth.
Charge for kids on ventilator between Rs. 17,000 and 25,000/day
NNF had been fighting since years as neonatal complications are rising. Moreover, as part of maternity section, an insurance company offers Rs. 1 Lakh cover for newborns, which is insufficient for neonatal ICU kids as the charge is anywhere between Rs. 17,000 and 25,000 a day for babies on ventilators. Neonatologist Dr Prashant S Urs said family insurance schemes consider infants only after 90-days.
