Pregnancy is a very important phase of life, and therefore, needs you to be well prepared for it, beforehand. Maternity is a crucial time for the entire family, and quality maternity care is very important for a safe delivery that ensures the health of the mother as well as the newborn. Good quality maternity care is available throughout the country in a number of private hospitals, but there is no doubt to the fact that it is going to be a rather expensive affair.This is a reason why maternity coverage should be an important part of your health insurance plan. Not only will it be able to ease your financial burden, but it will also allow you to cherish this joyous moment without stress.
What is maternity insurance?
Maternity coverage, like the one provided with Bajaj Allianz Health Insurance, is usually an add-on cover with your main health insurance policy. It covers various expenses related to the delivery. Some maternity covers also offer pre and post hospitalization coverage, along with cover for expenses like room and nursing charges, surgeon fee, etc. It is imperative that you completely understand the inclusions and exclusions of the maternity insurance before you opt for one.
Why opt for maternity insurance?
There are several reasons why opting for a maternity cover with your health insurance is a good idea. Some of these reasons are:
Reason 1: Financial support
The primary purpose of a maternity cover is to ease the financial burden that comes with hospitalization during childbirth. It covers expenses for normal and caesarian deliveries, pre and post hospitalization expenses (30 and 60 days respectively), surgeon’s fees, anesthetist consultation, etc.
Reason 2: Private hospitals are expensive
Everyone these days looks for quality healthcare and comfort when it comes to hospitalization, which is why private hospitals are in high demand. However, being admitted in a private hospital can rack up quite a bill. With high prices for deliveries, maternity covers can help you get good treatment and quality care at a private hospital.
Reason 3: The newborn is covered from day 1
A normal health insurance policy does not cover newborn babies till the time they are 90 days old. However, if you have a maternity cover, the newborn is covered right from day 1 till the end of the policy year, without any extra charges. Some policies even cover vaccination charges for the baby.
Reason 4: Preparedness for complications
If any complications arise, they will add to the total expenses that you will have to foot. There are a lot of unforeseen circumstances and they seem to be so much more stressful when you have to worry about the costs as well. A good maternity insurance policy can help a lot in such situations as it would take care of most of the costs. Some policies also offer coverage for the baby if it is born with a congenital disorder or a critical illness.
Reason 5: It lets you start a family without financial strain
Many couples take time in planning to have a baby, mostly because of the financial expenses that come with having a child. However, with insurance covers with sublimits, you can start planning for a baby without having to worry much about the financial burden.
Most popular health insurance policies with maternity cover
- There are several companies that offer health insurance policies with maternity coverage. Some of the most popular ones include: Bajaj Allianz Health Insurance: Health Guard–With sum assured ranging from Rs. 1.5 lakh to Rs. 50 lakh, and policy terms ranging from 1 to 3 years, this plan offers Ayurvedic and Homeopathic hospitalization, as well as maternity and new born baby expenses cover.
- Apollo Munich Insurance: Easy Health Family Floater – This plan offers three different plans, of which, the exclusive and premium plans offermaternity and new born coverage.
- Max Bupa: Heartbeat Family Floater – This plan provides coverage for maternity and for the new born in three plan types – silver, gold, and platinum. It includes maternity coverage and new born baby care, which includes first year vaccinations as well.
Be clear about the amounts you are covered up to
While there is no doubt regarding the importance of buying maternity insurance, you need to go through the applicable terms and conditions diligently. There are a number of different health insurance companies that offer maternity insurance within their policies. However, a number of such health insurance policies have a waiting period of a couple of years or more before you can avail the benefits of the maternity cover. Then, there are slabs that restrict the maximum amount you can avail as maternity benefits. Here is a table to help you understand:
| Policy | Sum Insured | Waiting Period | Maximum Normal Delivery Benefits | Maximum Caesarian Delivery Benefits |
|---|---|---|---|---|
| Health Guard by Bajaj Allianz | 3-7.5 lacs | 6 years (72 months) | Rs. 15000 | |
| Easy Health Family Floater by Apollo Munich | 3-5 lacs | 4 years (48 months) | Rs. 30000 | Rs. 50000 |
| Heartbeat Family Floater by Max Bupa | 5 lacs | 2 years (24 months) | Rs. 40000 (for up to 2 pregnancies) |
It is very important that you thoroughly research the insurance you are planning to buy, compare it to other offerings by different companies, and are well versed with not just the inclusions but also the exclusions of the policy, before you buy. As long as you are well aware of the stipulations of availing a maternity cover, you should be able to enjoy the benefits offered without worry.