While expecting a baby is incredibly exciting, each stage of this life-changing journey must be appropriately taken care of. This is where maternity insurance comes in, acting as a safeguard for pregnant women.
But what exactly does maternity coverage mean? This blog will discuss the basics of maternity health insurance; continue reading to learn more.
What is Maternity Insurance
Maternity covers are a subset of health insurance that provides financial security for pregnant women and their infants. It is specifically tailored to address expenses associated with pregnancy, delivery, and postpartum care.
A maternity insurance plan also provides coverage for neonatal or newborn babies for up to 90 days. In simple terms, insurance for pregnant women acts as a safety net that allows you to fully embrace the joy of being pregnant without worrying about the financial burden of hospital expenses.
Benefits of Purchasing Health Insurance for Pregnant Women
Financial Safeguard
Babies bring a lot of joy; however, they also bring expenses. Maternity bills can be overwhelming and having a health insurance policy with maternity coverage can serve as your financial safeguard. It ensures that you entirely focus on your infant instead of worrying about hospital bills.
Pre and Postnatal Care
Maternity health insurance is not just about covering medical expenses. It usually includes pre and postnatal expenses as well. Medications, tests and regular checkups all add up. With maternity coverage, you can get through these without worrying about the expenses.
Planned Parenthood
If you are planning to grow your family, having maternity coverage is like having a plan of action. You can financially prepare yourself and concentrate on creating a healthy environment for your baby, knowing you have a health insurance policy for your safety.
Specialised Coverage
Babies can sometimes surprise you with unexpected health issues. Maternity coverage usually extends to your newborn baby, offering them specialised care from the beginning. It is like having a security net for your infant.
Factors to Consider While Purchasing Maternity Health Policy
Age
Most insurance companies have an age limit (minimum and maximum) for policyholders. When applying for maternity health insurance, ensure you fall within the specified age group.
Policy Waiting Period
Unfortunately, in India, maternity insurance plans with no waiting period are not available. Therefore, fully understand the waiting period associated with your maternity insurance. Generally, maternity coverage can have a waiting period of anywhere between 9 months to 6 years.
Make sure you plan ahead and consider the waiting so you can avail of maternity insurance benefits when required.
Existing Policies
Review if there are any restrictions regarding existing medical insurance policies. Some insurance providers might have specific guidelines on the type or number of insurance policies an individual can hold simultaneously.
Renewal History
A timely and consistent renewal history with your medical insurance provider is usually a positive factor. Ensure that your existing insurance policies are up to date, as it can impact the approval of a maternity health insurance plan.
Financial and Income Stability
While it is not always stated explicitly, some insurance providers might consider the financial and income stability of the policyholders. This can influence the coverage amount and affordability of insurance premiums.
Maternity Coverage Exclusions
Pre-Existing Conditions Affecting Pregnancy
If you have a pre-existing health condition that could affect your pregnancy, such as epilepsy or high blood pressure, you will not be covered under maternity medical insurance.
Treatment Expenses Related to Infertility
Maternity insurance does not provide coverage for infertility or IVF treatments.
Congenital Diseases
Inherited medical diseases that occur in babies before or at birth, such as Down syndrome, spina bifida or heart diseases, are not covered under maternity health insurance.
Consultation Fees and Doctor’s Checkup Expenses
During your pregnancy, you might visit your OB-GYN regularly; however, maternity insurance does not provide coverage for these appointments.
To Wrap It Up
The best health insurance for pregnancy covers prenatal and postnatal expenses, hospitalization costs, delivery charges, and newborn baby coverage. Ensure that you get maternity and medical insurance coverage from reputed insurers like Tata AIG to ensure sustained coverage and prompt assistance.
The whole premise of having maternity coverage with your health insurance plan is to ensure that the entire pregnancy process is easy and there are no unusual stress factors in the form of unexpected expenses. This will allow mothers to fully concentrate on your new journey with their newborn baby.
