Definition
Newborn Cover
Newborn cover extends a maternity health policy to the baby from birth, covering its medical expenses for an initial period without a separate policy.
Many maternity benefits include cover for the newborn from day one, paying for treatment of conditions detected at or shortly after birth, often up to a defined limit and for the first few months. This is valuable because newborns can have significant early medical needs.
Policies differ on whether the newborn must be formally added to the floater and from what date, and on coverage for congenital conditions. Buyers planning a family should check the newborn provisions alongside the maternity waiting period when choosing a plan.
Related terms
- Waiting PeriodA waiting period is the time after a health policy starts during which claims for specified conditions or treatments are not payable.
- Maternity CoverMaternity cover pays for childbirth-related expenses, including delivery, pre- and post-natal care, and often newborn cover, usually after a waiting period.
- Family FloaterA family floater is a single health policy with one shared sum insured covering the whole family, instead of separate sums for each member.
Plain-English explainer from The Dispatch Investors Encyclopedia. General information, not financial advice.