MATERNITY HEALTH INSURANCE 360 GUIDE

WANT A MATERNITY HEALTH INSURANCE PLAN? A 360-DEGREE GUIDE FOR MATERNITY INSURANCE   

TABLE OF CONTENTS

• What is a maternity cover
• Can every maternity expense be covered by this insurance?
• What are the points to keep in mind while buying maternity health insurance?
• Why should I opt for a maternity cover?
• Mistakes that you shouldn’t make while buying a maternity cover?
• What is not covered in maternity insurance cover?
• What is the claim process?

 INTRODUCTION

Our family is everything and starting on your own is always special. It is a life milestone that nothing can beat but there are a lot of costs associated with welcoming your little one. It is their future after all! We know there can’t be any compromises for them!

But what about the journey of the 9 months? Don’t those huge medical bills haunt you?

They do, right?

That’s when a maternity plan comes into the picture.

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WHAT IS A MATERNITY PLAN, ANYWAY?

It is a health insurance plan that covers the costs of childbirth and sometimes pre and postnatal care and new baby expenses up to a certain limit. However, all insurance companies do not have the same features for maternity insurance plans. hence, it becomes important to choose a plan that fits your needs,  and you should also know that a maternity cover also offers an add-on benefit in your Group Mediclaim.

So, next time, ask your company’s HR Department whether maternity benefit includes in your GMC or not. Get Quote 

MATERNITY INSURANCE THAT WILL COVER UNDER MATERNITY EXPENSES 

what is maternity benefits in health insurance

Below are the coverages that a maternity health insurance plan offers:

1. Inpatient hospitalization

Whether it is a normal delivery or a cesarean one, a maternity cover will cover the cost of the delivery. It will include surgeon charges, the room rent, the charges of the nurse, ambulance charges, doctor fees, etc. The exact hospitalization coverage will vary from insurer to insurer.

2. New-born baby cover

When a newborn is detected with any critical disease, He/she will get the benefits

3. Medically necessary terminations

When the pregnancy becomes life-threatening to the mother, it becomes extremely necessary to terminate the pregnancy and this will be covered under the maternity cover.

4. Baby vaccination expenses

Vaccinations are not that costly but there are some insurers that offer to bear these costs giving a little relief to new parents.

So technically, not every maternity expense will cover with the maternity cover but it will provide certain financial support to the parents.Get Quote 

Maternity cover

WHAT ARE THE POINTS TO KEEP IN MIND WHILE BUYING A MATERNITY HEALTH INSURANCE?

There are various maternity plans available that can confuse you. Therefore, here are a few points that you need to keep in mind when you decide to buy a maternity cover:

1. Eligibility criteria

Single and married women are eligible for maternity coverage. However, if they are pregnant and they opt for the same, then that pregnancy would not be covered under maternity insurance.

2. Waiting period

The waiting period will totally depend upon the insurer’s terms and conditions. hence A certain waiting period shall be completed before you make a claim for maternity insurance.

3. Number of children

The coverage that insurance companies cover can only be extended to 2 children and not more than those.

WHY SHOULD I OPT FOR A MATERNITY COVER?

1. Financial Security

No matter what type of delivery you opt for, a maternity cover will have your back and cover the expenses. There are few insurers that also offer to cover the pre and post-hospitalization costs up to 30 days and 60 days respectively. Thus, providing financial relief to the parents.

2. Peace of mind

Parents feel Peace of mind when they get a certain portion of delivery expenses that is under the policy

3. Delivery expenses cost a bomb

The costs of delivery in private hospitals can go up to 50,000 to 1 lac for cesarean delivery excluding medicine costs, tests, vaccinations of the newborn, newborn expenses, etc. Maternity benefits are an extremely useful investment as you know giving birth to a child is connected with hefty medical costs and hence,

4. New-born cover from day 1

There are certain maternity plans that will bear the newborn expenses from day 1 till 90 days including vaccination costs, hence providing security for the baby too.

5. Tax Benefits

Investing in a maternity cover will not only secure your delivery and newborn expenses but also provide you with tax benefits. Your maternity health cover can save your tax under section 80(D).

WHAT ARE THE MISTAKES THAT YOU SHOULDN’T MAKE WHILE BUYING A MATERNITY COVER?

1. Opting too late

Opting for a cover when you are pregnant becomes extremely late and hence you won’t be covered under the policy

2. Not checking the sum insured

It is extremely imperative that the sum insured that you will opt for is sufficient and enough for your maternity expenses.

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MATERNITY INSURANCE DOES NOT COVER?

1. Pre-existing diseases

If the mother is suffering from any pre-existing disease during the pregnancy and it is affecting her condition, like diabetes, high blood pressure, etc, then the insurance company won’t cover the expenses.

2. Congenital conditions

For the newborn, if he is suffering from any congenital diseases, then his/her expenses will not cover under the maternity insurance benefits. Congenital diseases are the ones that occur before or at the time of birth. Congenital diseases can include down syndrome, heart disease, etc

3. IVF Treatments & Surrogacy

Invitro fertilization, infertility treatments or surrogacy cannot be covered under maternity insurance.

WHAT IS THE CLAIM PROCESS FOR MATERNITY INSURANCE?

This is the claim process for maternity insurance:

1. Inform comparepolicy.com
2. Fill out the claim form
3. Submit documents like id proofs, policy copies, etc.
4. Submit the bills
5. An investigation by the insurance company.

FAQs

Q-1  How much can I claim for maternity insurance?

Q-2 What is the waiting period in maternity insurance?

Q-3 What does 12 month waiting period mean for pregnancy?

CONCLUSION

The most beautiful feeling in the world is to become a parent however it is associated with lots of expenses. To get a little financial relief in this journey, it is imperative that you plan and invest in a maternity cover. It might not cover everything, but it will be of help. As it is said, “A little help goes a long way.”

Here are the Top 5 maternity insurance plans you can opt

Compare policy provide the best maternity plans and flexible payment options

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