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- Benefits of Maternity Insurance over regular Health Insurance Pregnancy Coverage
- Check out the crucial points before purchasing Maternity Insurance
- Pregnancy expenses covered by insurance
- Insurance covering the whole cost of pregnancy
- Ways in which insurance companies work when you are pregnant
- The type of insurance that's best for pregnancy
- Eligibility to buy Maternity Insurance if already pregnant
- FAQS - FREQUENTLY ASKED QUESTIONS
health insurance that covers pregnancy fills that gap and exclusively caters to the needs of the pregnancy. The general assumption is that regular health policies will cover pregnancy expenses. But here, most of us overlook the need for a dedicated policy.A Maternity Insurance plan is a boon for a young couple. While paying EMIs, young couples may find it difficult to bear the cost of delivery and post-natal care. In such cases, Maternity Insurance Policies are nothing but a boon. They can ease the pressure and provide wholesome coverage if purchased well in time.
Benefits of Maternity Insurance over regular Health Insurance Pregnancy Coverage
Regular Health Insurance plans for pregnancy provide coverage to some extent during pregnancy, but they seem inadequate looking at the increasing medical care expenses. Specially designed Maternity Insurance covers pregnancy care:
- Pregnancy expenses, irrespective of the type of delivery. Almost all pregnancy insurance plans cover the delivery expenses, whether normal delivery or C-section.
- Hospitalisation expenses are covered. The period may vary from 30 days of pre-hospitalisation to 90 days of post-hospitalisation.
- Pre-natal and post-natal care. That includes the vaccination and diagnostic expenses.
- These plans cover essential new baby care, too.
Regular Health Insurance policies may not cover all of these depending upon their terms and conditions. Another important point to consider is that Health Insurance plans covering pregnancy have a sub-limit, and coverage is limited to that extent.Read more: Health Plans With Maternity Cover – Is it the Right Choice?
Check out the crucial points before purchasing Maternity Insurance
Getting the best medical attention is necessary. To ensure this security, you should remember the following essential things:1. Usually, maternity policies give broad coverage, but few policies include post-pregnancy assistance, such as postpartum care.2. Almost all pregnancy plans follow a waiting schedule. While purchasing the policy, one should carefully check the waiting period details, so the earlier the young couple buys the Maternity plan, the better.3. Also, one should pay special attention to all the clauses and terms and conditions.4. The time required to settle the claims is crucial while purchasing the plan.Insurance that covers pregnancy and delivery is an extremely wise investment for married couples looking to have a child in the near or distant future. Rising inflation has increased the cost of bearing a child multi-fold, significantly adding pressure onto the already delicate process. In such a situation, Medical Insurance for Pregnancy can aid to-be parents in access to care before, during, and after childbirth.Read more: Top 4 Factors to Consider When You Buy Maternity Insurance
Pregnancy expenses covered by insurance
The coverage within a Medical Policy for Pregnancy includes expenses in the following areas:1. Birth: This includes all the money spent on the mother’s hospitalisation and delivery of the child, regardless of whether the birth is natural or through a C-section.2. Pre-natal and post-natal care: This includes medical expenses incurred before and after the delivery.3. Care for the newborn: From vaccinations to day-care, this includes all the help you may need for a baby when they are born.
Insurance covering the whole cost of pregnancy
Almost all Maternity Insurance policies cover the periods before, during, and after pregnancy. A medical policy that covers pregnancy typically includes the following:1. Diagnostic tests2. Medications for the mother and child3. Inpatient and ambulance-related expenses4. Day-care before and after birth (usually up to 90 days)5. Caesarean and normal deliveries.6. Vaccination and other expenses for the newborn7. Pre-hospitalisation (usually 30 days leading up to hospitalisation) and post-hospitalisation (usually 60 days after hospitalisation) expensesIt is also important to note that the Health Insurance that covers pregnancy does not cover:1. Self-inflicted injuries or self-medication2. Medical conditions diagnosed pre-pregnancy3. Doses of tonics/vitamins or self-medication4. Medical consultation and follow-ups5. Non-allopathic treatment6. IVF treatmentsIt is worth noting that some plans offer additional advantages, like coverage for postpartum therapy or breast pumps. You can consult with your insurer about these before you purchase to make the most of your pregnancy insurance.
Ways in which insurance companies work when you are pregnant
As discussed, you can claim expenses for pre-natal care, labour, and delivery once the waiting period of your Maternity Insurance is over. However, the specifics vary by plan. Costs, such as deductibles and co-payments, may apply, and choosing in-network providers helps maximise coverage.Also read: Waiting Period in Health Insurance Policy
The type of insurance that's best for pregnancy
While you are considering Health Insurance Plans for pregnancy, it is important to evaluate the following:
The coverage:
While a Medical Policy for Pregnancy comes with comprehensive coverage, you must check the kind of expenses you can claim. When choosing a Health Insurance policy with maternity coverage as an add-on, check the sub-limit available for pregnancy and childbirth. The latter ranges around 10-20% of the total coverage.
The Fine Print:
Thoroughly examining the policy benefits, features, inclusions, exclusions, and terms and conditions is crucial in making an informed decision about the Health Insurance that covers pregnancy.
The Waiting Period:
Although no policies offer Maternity Insurance without waiting periods in India, the waiting periods of different policies are of varying durations. Considering the waiting period is extremely important when choosing insurance that covers pregnancy.
Eligibility to buy Maternity Insurance if already pregnant
A lot of insurance companies consider pregnancy a pre-existing condition; hence, they do not provide Health Insurance that covers pregnancy. Also, medical insurance that covers pregnancy often has a long waiting period ranging from 2 to 6 years. Health Insurance Plans for pregnancy are best purchased soon after marriage if a couple knows they want to have children.These are all important aspects that one must remember while planning to have children and opting for medical insurance covering pregnancy. Before selecting a suitable Medical Policy for Pregnancy, you need to evaluate the details of the Medical Insurance for Pregnancy and understand the inclusions and exclusions in the plan and its eligibility. All these things will help you to have a safe, well-planned, and carefree pregnancy.Also read: Are Health Insurance Plans Available For New-born Babies? Find Out
FAQS - FREQUENTLY ASKED QUESTIONS
When should you buy insurance that covers pregnancy and delivery ?
A timely and informed decision is all that you need. If you are planning your marriage shortly or thinking of having a baby, you must be aware of the waiting periods of the Mediclaim Policy, which covers pregnancy. The coverage of Medical Insurance for Pregnancy comes with a waiting period ranging from a few months to a few years, during which you cannot claim a maternity benefit. Simply put, the insurer wants to ensure the scheme’s viability so that no fraud occurs. Some people may have childbirth due in the coming months, and they may enrol just to take advantage of the scheme. Therefore, planning well ahead of the pregnancy is an intelligent decision. You must conduct a market survey, which can be done conveniently by the policy-selling websites nowadays, and compare the features provided by the various insurers and the waiting periods given therein. Most of the insurers offer waiting periods of more than nine months, and it can be as long as six years in India.
Can a Maternity Insurance Policy be bought without a waiting period ?
No, no insurers in India are known to offer Maternity Insurance without a waiting period. All have waiting periods ranging from a few months to a few years, just as they have waiting periods in case of some pre-existing diseases. Some plans can be considered under the Short Period Category, having a waiting period as short as nine months. The Medium Category has plans which have a waiting period of 24 months. Long Waiting Period plans include the Aditya Birla Activ Health Platinum Enhanced Plan, which lasts four years and is also available. So, the waiting period for Maternity Insurance varies depending upon the plan, so it is necessary to check the waiting period before you opt for insurance covering pregnancy.
Is post-natal care covered under a Maternity Insurance policy ?
The type of plan you choose determines whether a maternity benefit plan covers post-natal care and which parts of it are covered. Most Medical Insurance for Pregnancy is a rider in your general Health Insurance plan. It is very important to activate such rider elements on time. A good medical policy for pregnancy from a reputed insurer may cover post-natal care. Most maternity benefit plans cover expenses incurred 30 days before delivery, childbirth, or hospitalisation. Medical expenses for approximately 60-90 days after the delivery of the child are also covered. Some plans cover ambulance expenses. Study the plan thoroughly to understand in which situations your post-natal cover applies. When choosing Health Insurance covering pregnancy, consider the conditions your plan will not cover.
Is there any policy that covers IVF treatments ?
Most Medical Insurance for Pregnancy doesn't provide IVF or maternity, pre- and post-natal coverage, etc. Some insurers offer specialised IVF covers tailored for couples undergoing IVF procedures. While insurance companies have introduced unique IVF insurance plans for women, it's important to note that these plans often have lengthy waiting periods of 4-6 years, along with other terms and conditions that require thorough understanding. In this type of plan, you should start very early so that if, after a successful first pregnancy, you face any problem while trying for a second child (Secondary Infertility), you can take advantage of this facility on time. In India, IVF treatments are usually costly, so covering it under 'Health Insurance for Infertility Treatment' is a good option. While opting for this type of plan, you must remember some things. These include the eligibility conditions for this plan, how much waiting period will be given to you as it will help you to plan whether it will cover diagnostic costs, what kind of infertility treatment will be (IVF, IUI, GIFT, or ICSI) covered, will the cost of medicines be given, how many times you can claim this policy, etc.
Do Insurance policies cover more than two deliveries ?
In today's scenario, having a third child brings many challenges, including the fact that most insurance companies do not provide Medical Insurance for Pregnancy coverage after two pregnancies. Before planning a third child, always thoroughly check your insurance coverage to be well-prepared for your third pregnancy. Try understanding the detailed and complete information about the insurance companies that can provide coverage. After thoroughly studying these conditions, you can make an informed decision about your family planning and various Health Insurance Plans covering pregnancy.
Complying with the policy recommended by the Government of India for population control, most reputed companies or insurance providers do not provide insurance for more than two live children or more than two pregnancies.
The information contained herein is generic in nature and is meant for educational purposes only. Nothing here is to be construed as an investment or financial or taxation advice nor to be considered as an invitation or solicitation or advertisement for any financial product. Readers are advised to exercise discretion and should seek independent professional advice prior to making any investment decision in relation to any financial product. Aditya Birla Capital Group is not liable for any decision arising out of the use of this information.
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