Health Insurance is an important financial tool to keep oneself and their family financially secure. Health insurance ensures one is protected against an emergency medical situation and avail of the best treatment in such trying times. Maternity Health Insurance as the name suggests is a type of health insurance that covers the emergency and costs related to maternity i.e. pregnancy and childbirth.
Maternity health insurance is an insurance cover specifically designed for pregnant women or expecting mothers. This plan offers financial security to women and their infants. Having maternity health insurance is very important as it ensures comprehensive healthcare coverage for expectant mothers. However, in India, there is no standalone maternity health insurance plan. Most plans are comprehensive health insurance plans with maternity as an add-on benefit.
With the rising cost of medical treatment and skyrocketing medical inflation, having a good maternity health insurance plan will provide a financial cushion and help in receiving the best medical care without worrying about the expenses and/or compromising on quality healthcare.
A maternity health insurance policy covers the medical expenses related to the hospitalisation of the insured women, delivery expenses and costs, lab tests, and medication. All this coverage is either part of the insurance policy or can be availed by purchasing an add-on rider plan depending upon the insurance provider but after a certain waiting period.
A waiting period is a tenure during which a claim is not admissible. For example, if there is a 2-year waiting period for maternity claims, you can file a maternity claim only after completion of 2 years from the policy tenure.
Therefore, it is best to read the policy document before investing in the maternity health insurance policy.
The following table indicates details of the best maternity health insurance plans in India
| Plan Name | Coverage Amount | Waiting Period | USP |
|---|---|---|---|
| Aditya Birla Activ Fit Plan | Rs 40,000 (normal) to Rs 60,000 (C-section) | 3 years | Newborn + Vaccination Expenses along with Cost for Stem Cell Preservation. |
| Star Women Care Insurance Policy | Rs. 25,000 to Rs 1 lakh for a sum insured of Rs 5 lakhs to 1 crore. | 1 year for a Sum Insured of >=Rs 15 lakhs and 2 years for a Sum Insured of Rs 5-10 lakhs. | Even pregnant women can opt for this plan during the 12th to 20th week. This is a comprehensive women's health insurance plan for all types of women-related concerns, fertility treatment, surrogacy, etc. |
| Care Joy Maternity Insurance Plan | For Joy Today/Tomorrow: Rs 35,000 for the Sum Insured Rs 3 lakhs to Rs 50,000 for the Sum Insured Rs 5 lakhs. | 9 months / 2 years | New Born coverage of Rs 30,000 for the Sum Insured Rs 3 lakhs to Rs 50,000 for the Sum Insured Rs 5 lakhs. |
| Digit Health Care Plus Policy | Rs 10,000 to INR 5 Lakhs | 0 to 4 years | Huge choice of coverage from 10,000 to a stupendous amount of Rs 5 lakhs with a choice of no waiting period as well. |
India is a country with a diverse healthcare infrastructure and maternity healthcare faces huge challenges, particularly in two-tier and rural sections of the country. Therefore, having maternity health insurance ensures financial protection and access to top-notch health services for pregnant women.
Maternity health insurance is an important insurance plan that each person should include in their healthcare basket as it offers financial security and access to quality maternity health care. Thus a maternity health insurance plan offers the following features.
The above-mentioned benefits vary from one insurance company to another. So, while purchasing a maternity health insurance it is best to understand the terms and conditions of the insurance provider and understand the inclusions and exclusions under the opted maternity health insurance plan.
Buying a maternity health insurance plan is extremely beneficial. We have below listed all the benefits of buying a maternity health insurance policy
The insurance cover offering cover is called as inclusions of the insurance plan. These inclusions vary between plans and between insurance providers. It is important to understand the inclusions and the benefits they are offering before buying the pregnancy health insurance plan. Following is the list of benefits covered by maternity health insurance:
The benefits not offered by the pregnancy health insurance policy are referred to as the exclusions of the plans. The following are not covered under a maternity health insurance policy:
It is best to check the terms and conditions related to the exclusions of the maternity health insurance plan before investing.
Here's why opting for health insurance with Maternity Coverage can be a game-changer for you and your growing family:
Maternity health insurance is an important finance and insurance tool. It not only offers financial coverage but peace of mind as it secures you financially against medical emergencies related to maternity. One can buy maternity health insurance before planning for the baby. It is important to be financially secure even before having a baby. So it is best to purchase pregnancy insurance during the family planning phase.
Things to Remember While Buying Maternity Health Insurance
Here is a list of things that you need to pay attention to before buying a maternity health insurance policy.
Any individual between the ages of 18 years to 45 years is eligible to purchase a maternity health insurance policy. It is best to check the terms of eligibility with the insurance provider while buying a maternity health insurance plan. Most of the pregnancy insurance providers offer insurance coverage for 2 deliveries. Therefore, understand all the eligibility criteria in detail before investing.
In the event of raising a maternity claim following is the list of documents required:
Claim processing under a maternity health insurance plan happens in two ways:
Process for cashless claim processing of maternity health insurance plan
Process for reimbursement claim processing of pregnancy health insurance plan
The cost of pregnancy insurance is calculated based on the following factors:
A maternity health insurance plan is the need of the hour. Being financially secure helps you have peace of mind and not be stressed about money. With pregnancy insurance, you can welcome the newborn without being worried about your savings.
As most insurers count pregnancy as a pre-existing condition, they will not accept your application if you are already pregnant unless you are entering a group policy.
Yes, they do. But this goes against the principle of insurance. You don't insure an event that is most likely to occur. You insure an event that only has a rare possibility of occurrence. See the difference? However, most insurers still promote this cover for a couple of reasons:
If your baby is born with an abnormality, deformity, disease, illness or injury, it is termed as a congenital condition. The coverage for such deformity purely depends on the insurance company and varies from all to none to partial.
Some insurers do cover the newborn baby from day one until they are 90 days old. From day 91, they can be added to the parent's policy by paying the additional premium. And some don't at all. However, this decision entirely rests with the underwriting team of the insurance company.
Congratulation on such a thoughtful gesture! Apart from Maternity cover, you can consider a plan that offers other valuable benefits as a cover for critical illness, hospital cash, room-rent waiver, etc. Also, find a plan that has fewer restrictions on sub-limits. Call Coverfox.com to assist you with the best deal!
Motherhood is a gift every woman wants to nurture. Sadly, the expenses arising right from the delivery to pre and post hospitalization as well as the new-born care are exorbitant these days.
Health Insurance is a type of mediclaim that strives to offer insurance coverage to reduce your medical and surgical expenses. Maternity expenses are also covered under a health insurance policy.
Most insurers consider pregnancy as a pre-existing condition. So, it definitely comes with a waiting period clause. Additionally, if you are already pregnant, an individual health insurance cover will not cover maternity expenses. A group health insurance plan may however cover maternity even if you are pregnant while entering the plan.
However, the below factors come into picture, when you plan your maternity under a health insurance policy:
Waiting period and extra premium Well, it goes without saying that every health insurance policy comes with a waiting period. Once you ask the insurer to add maternity in your health insurance policy, you will have to adhere to the waiting period of 2 years. This waiting period however depends on one insurer to another. At times, this may be as long as 4-6 years. Besides, health insurance along with a benefit of maternity comes at a higher price than normal. This is because insurance companies treat maternity as a high risk cover. The claim ratio is mostly higher for this type of cover unlike other expenses covered under a health insurance policy. For example, Ajay a newly married 30 year was advised to buy a family floater plan that covered maternity too. Happily he wished to opt for the same since he was planning to start a family in 2 years. Sadly, the insurance agent explained that the plan had a waiting period of 4 years. Ajay then planned to opt out of the maternity cover since it was incurring a heavy
The exclusion list Buying a health insurance with a maternity cover doesn't necessarily cover all the medical expenses. For example, pre and post hospitalization expenses may not cover ultrasound charges or all your visits to the gynaecologist. Besides, fertility treatments like IVF, IUI etc. also are not covered. Abortions also frame a part of the exclusion list. Complications arising in the pregnancy leading to medical termination of pregnancy is covered by a very few insurers. So, it is advisable not to buy a health insurance policy only to cover maternity benefits. This is because, you continue paying a higher amount of premium till the time you renew your health insurance plan. There are also high possibilities of certain expenses not getting covered due to the cap on charges. You may still buy special maternity plans from a health insurance company that covers cost for pre and post hospitalization, cost of the delivery that includes both normal and c-section, covers the new-born baby as well as the ambulance charges.
The following are not covered by maternity health insurance plans:
It is essential for you to purchase a maternity health insurance plan way before you are pregnant or planning a baby. This is because such plans are generally accompanied by a waiting period that varies between 9 months and 6 years. It implies that you would be eligible for availing the benefits of the plan only after the completion of the waiting period that is applicable to the maternity health insurance policy that you have purchased. Therefore, you may be able to buy a maternity insurance, but not be able to avail the benefits of the plan due to the waiting period.
The premium that you have to pay on your maternity health insurance plan depends on certain parameters like the sum insured opted by you, your age, location, etc. The premium that you will be eligible for varies between insurance companies.
The waiting period usually varies between 9 months and 6 years, and differs from one insurance company to the other. You can avail the benefits of your maternity health insurance plan only after the completion of the waiting period, as mentioned in your policy document.
In your case, your on-going pregnancy will not be covered because you are yet to complete your waiting period. Your second pregnancy will be covered by your maternity health insurance plan, only if you have served the waiting period by that time.
Maternity health insurance plans are accompanied by a waiting period that varies between insurance companies, and usually ranges from 9 months to 6 years. You can avail the benefits of your maternity health insurance plans only after the completion of consecutive policy years.
Yes, there are certain health insurance policies that cover maternity-related expenses.
The following are some leading health insurance plans that cover maternity-related expenses:
Yes, maternity health insurance policies cover expenses incurred for delivery of a new born, irrespective of whether it is a C-section or a normal delivery.
Anyone who fits the eligibility criteria laid down by an insurance company is eligible for buying a maternity health insurance plan of that company.
