Pregnancy Cover Policy Questions to Ask an Insurance Agent

Becoming a parent could be one of the most important occasions in your life, especially if you are a woman. During pregnancy, you may experience many emotions, joy, excitement, stress, etc. Amidst the emotional roller-coaster, it can be easy to overlook pregnancy insurance.When it comes to buying a health insurance policy for pregnancy, you must be prudent in your choice. It would help if you took your time to understand the different aspects of the policy thoroughly. You must be aware of the costs, the coverage included, the exclusions, etc. To avoid any unpleasant surprises, you should take your insurance agent and ask the following questions regarding the pregnancy cover policy.

You must not decide the right pregnancy cover policy based on the premium alone; you must ask the insurance agent about the coverage. Different policies offer different coverage. You must know if your policy covers hospitalisation cost, post-pregnancy expenses, the vaccine for the newborn, etc. You must look for a policy that offers maximum coverage to you and the newborn child.

Often, when people buy a maternity policy, they believe that the insurance company will cover all expenses. But, it may not be the case always; your policy may have sub-limits. Sub-limits imply that insurance companies have limitations on certain costs.For example, some maternity plans may have a sub-limit on the postpartum expenses or the bed charges. So, you must ask your insurance agent if there is any cap on the costs so that you can be sufficiently prepared to meet the expenses when needed and avoid filing a false claim.

Today, many insurance companies in India cover newborn medical expenses as part of the pregnancy cover policy. It would help if you got clarity about the coverage offered to the newborn and its duration. Generally, the insurers allow maternity insurance policyholders to get baby cover for 90 days from the day of birth. Make sure to ask that the agent about the expenses that the insurer will cover for the newborn and take maximum benefit from it. Also, it would help to ask the agent if your premium will remain the same, or you must pay any additional charges.

Generally, all maternity insurance policies have certain waiting. It is a commitment that you must comply with. The waiting period for pregnancy cover policy may range from nine months to six years. If you get pregnant during this period, the insurer may not entertain your claim, and in some cases, your policy may be terminated. So, depending on when you think you will be ready to have a baby, ask your agent to suggest a policy with an appropriate waiting period.

Although your health insurance policy may cover the pregnancy-related expenses, it is better to purchase an additional standalone pregnancy policy or a maternity rider as it will help you get additional coverage. But, do you research well about the different policies before you choose one.

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.