- The sums insured by companies range from 20 thousand to one million dollars.
This note was originally published on April 14, 2024
Venezuela has several insurance companies that offer health insurance policies for children. Some of these include children from 6 months of age and others following one year, although there are also exceptions in which parents and guardians can insure from birth.
Insurance advisor assistant Deysis Rivero explained in an interview with El Diario that all insurance companies active in the country have products designed to protect children. The most common policies are health insurance, known as HC (Hospitalization and Surgery), and school Personal Accident insurance.
The plans for HC policies are diverse and range from simple ones to those with deductibles. The insured amounts range between 20 thousand and one million dollars. Rivero explained that the simple plan only includes basic coverage for Hospitalization and Surgery. The plan with additional benefits includes coverage for funerals, primary medical care, dental services, ophthalmology, dermatology and others.
Deductible plans range from $500 to $2,000.
What is an insurance deductible:
This is the payment that the insured must make to the insurance company in the event of an accident or eventuality. For example, if a deductible of $500 is selected and an event of $5,000 occurs, the person pays the $500 deductible and the insurance company pays the remaining $4,500.
“The amounts to be paid depend on the rates set by each company, the insured amount selected and the age range. For example, at Seguros Caracas, for a range of 0-9 years of age for an insured amount of 200 thousand dollars, the amount to be paid is 886.59 dollars annually. At Oceánica de seguros it would be 684 dollars. That is why I say that it depends on the rates of each company,” he stressed.
He also indicated that in the school Personal Accident policy (designed to cover risks of accidents inside and outside the facilities of the educational institution), the negotiation is generally carried out by the schools with the insurance company or with the advisor. Since it is a collective policy, it must have at least 40 children.
He said that personal accident policies cover death, disability and medical expenses. The sums insured vary from 1,000 to 10,000 dollars. Payments are made by parents or guardians when enrolling children in institutions.
Deysis Rivero added that in this case, the premium is more affordable because it is a group policy, so for the insured sum of $2,000 for medical expenses, the approximate payment is $30 per year.
Payment for health insurance policies can be made in installments: monthly, quarterly or half-yearly. There are even companies that offer financing starting at 1,000 in premiums to be paid: 50% down payment and 4 installments.
Requirements depend on the type of company, but generally are:
Health policies:
-ID card and Unique Tax Information Registry (RIF) of the legal representative
-Birth certificate of the minor or ID card if you already have it
-In the case of children under 5 years of age: vaccination card and certificate of healthy child
Personal accident policies:
-Legal representative’s ID card
-Birth certificate or child’s ID if available
-List of the school where you study
Insurance advisor assistant Deysis Rivero also stressed that the age for insuring a child depends on the insurance company selected.
“If the child is born under the mother’s maternity insurance policy, it can be included at once. On the other hand, if the child does not have a previous policy, some companies accept them from 6 months of age and others following one year. Seguros Caracas is the exception and accepts children from 0 months as long as the requirements mentioned above are met,” he said.
Steps to follow to insure a child:
-Contact an insurance advisor
-Request quotes
-Select the one that best suits your plans and payment methods
-Fill out the application form
-Deliver documents to the advisor or the insurance company
Once the policy is issued, payment must be made according to what was selected.
“A baby’s health cannot wait”
The newspaper spoke with Yulymar Rivero, who at the beginning of 2024 applied for an insurance policy for her one-year-old son.
Rivero said he chose the Ocean Insurance policy, which covers 200 thousand dollars with additional costs. He also specified that the payment he must make is for an amount of 171.93 dollars quarterly.
We did not have insurance for our baby, but last year, we had an emergency and went to the Vargas Hospital, where the care was not what we expected, since they did not have sufficient equipment for emergencies and there was a long line of babies waiting to be treated and there was only one doctor on duty. That was desperate because a baby’s health cannot wait, especially if the emergency requires that it be treated as soon as possible,” she emphasized.
He added that the time periods for using the policy vary and range from 3 to 12 months. Emergencies due to falls or accidents do not have waiting periods.
In the case of infectious diseases, the child should wait 3 months. If the child has diseases such as non-infectious adenoiditis, vascular headaches (migraine), vertigo or labyrinthitis, non-infectious tonsillitis (alone or combined), hemorrhoids, hydrocele, urinary incontinence, non-infectious otitis media, the child should wait 11 months.
For surgical intervention for morbid obesity and for diseases of the female reproductive system that require surgical intervention, the period is 12 months.
“Allergy tests, benign breast tumors, aneurysms and arrhythmias have a waiting period of 18 months. These periods are stipulated in the conditions of each insurance, so it is important that parents review them very carefully so that they are aware before selecting a policy,” Rivero stressed.
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2024-07-21 20:48:55
