How to Choose the Right Maternity Insurance Plans

Parenthood is a happy feeling that comes with a lot of responsibilities and expenses. Complications during pregnancy can happen to anyone, no matter how fit you are or what your age is.

Giving birth in a good hospital is every parent’s dream, but it may not always be affordable. Normal deliveries usually cost around Rs. 20,000 to Rs. 50,000 while a C-section can cost up to Rs. 1,00,000. Hence, maternity insurance plans become essential for expecting mothers. Pregnancy health insurance can reduce your financial stress during delivery.

While health insurance plans cover the cost of the insured’s medical conditions, maternity insurance plans include labour and delivery expenses and in some cases, support newborn care and other costs too.

Supplementing your health insurance plan with maternity coverage is a wise decision. To determine the best health insurance plans for your needs, let’s begin with why you also need dedicated maternity insurance plans.

Here are some key points as to why you should purchase maternity insurance plans:

  1.    Pre & Post Hospitalisation

Pregnancy requires regular check-ups and follow-up visits to the doctor. Maternity Insurance plans cover check-ups and medication required from 30-60 days before delivery. It also covers insurance expenses up to 60 days post delivery.

  1.    Delivery Expenses

Whether normal or cesarean, the delivery of a child can be expensive. This insurance policy covers delivery and hospitalization charges can be in this range:

Sub-limit for normal delivery is Rs.15,000 – Rs.25,000 and sub-limit for caesarean delivery is Rs.25,000 – Rs.50,000.

  1.    Pre & Post Natal Expenses

The insurance policy covers childcare expenses including consultation, medication, check-up and incubation costs.

  1.    Vaccination Cover

Some health plans cover the mandatory vaccinations for the newborn. Usually, it covers the vaccination expenses for the 1st year of birth. These include vaccinations like polio, tetanus, etc.

  1.    Newborn Coverage

Some health plans cover the expenses for the newborn for up to 90 days from birth. This is useful when the newborn needs special care for congenital defects and other complications.

  1.    Waiting Period & Pre-existing Clause

There is a specified waiting period to claim maternity expenses. Generally, every Insurance policy with maternity benefits does not provide coverage for the first 2-6 years.

If you are already pregnant when you apply, it is considered as a pre-existing condition. Hence, it is advisable to apply for an insurance policy before you plan to have a baby.

  1.    Age factor

The premium on the coverage is likely to increase with your advancing age. If you delay in availing insurance, you are likely to pay a higher premium. Purchasing a maternity insurance plan at the right time is essential.

  1.    Alternative birthing techniques

As alternative childbirth practices such as water birth and home birth grow popular, expectant couples would need to make sure that their insurer provides coverage for non-traditional delivery methods.

Motherhood is a special moment that you would want to enjoy without any fear of overspending. With an insurance policy, you can welcome your child into the world amid the best medical facilities. However, expenses don’t end once the baby is born and if you are not prepared for it, you may find yourself financially overextended. Maternity Insurance Plans give you a financial cushion at a time when you may experience both elation and overwhelmed as a new member joins the family.  Maternity insurance plans help restore some balance to the equation.

You can also check out Pocket Insurance by Bajaj Finserv for affordable insurance plans. For instance, the Pregnancy Complications Cover helps you if there are any complications during your pregnancy.

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