What Is Kids Insurance?

Most parents would do anything to make their children happy and secure their future, but that is not always possible with simple monthly savings plans, which may not be enough to cover the ever-growing education and medical costs. In this regard, child insurance programs may come in handy.

Kids insurance, or children’s insurance, includes many of the perks covered by adult insurance packages, with the main focus on the health and well-being of a child. The most popular kid insurance programs in the U.S. are Medicaid and the Children’s Health Insurance Program (CHIP).

What Does Kids Insurance Cover?

Everything depends on the type of insurance. Medicaid, for example, is available for low-income families (which you can apply for by contacting your state Medicaid agency), whereas CHIP coverage employs affordable health benefits for families that are not eligible for Medicaid.

Each state offers Medicaid and Chip coverage, but CHIP benefits are different in different states, except for some mandatory services, such as immunization, routine check-ups, dentist visits, hospital care, prescriptions, and more. Click here to find the fullest info on Medicaid and CHIP in your state.

How Much Is Kids Insurance?

Although there’s no way to estimate the exact price of child insurance without knowing the amount of coverage, the payment schedule, and other details, it is safe to say that the younger the child, the cheaper it will be to insure him or her. For example, an average monthly premium on whole life insurance is about $45 for an infant, $71 for the age of 15, and $127 for the age of 30.