Pregnancy or maternity is undoubtedly a vital stage of life. Whether it’s a woman or a man, both need to get ready in advance to embrace parenthood. Although bringing up a child is an expensive concern and it may involve a good financial backing in order to meet up the requirements of growing a baby. Be it the hospital stay, delivery costs, medical tests or the costs of medicines – a well-developed maternity insurance plan can help slacken the increasing costs of maternity expenses. A maternity insurance plan basically enables you to enjoy the happiest moment of your life without any strain or pressure.
Don’t Know What Is Maternity Insurance? Let Me Help You Understand
Maternity insurance is basically offered as an additional rider or add-on cover with your basic health insurance plan. Maternity insurance covers all the expenses associated with both types of baby delivery options – normal and caesarean. A number of health insurance providers offer maternity benefit as an additional service and thereby minimize your financial burdens.
In some corporate sectors, the women employees are offered maternity benefits along with a health insurance plan. In addition, when it comes to the majority of corporate group health insurance policies, maternity benefit is a rider (add-on benefit) that comes with a sub-limit option that must not exceed Rs 50,000.
Maternity insurance comes with numerous benefits which include pre and post hospitalization where pre-hospitalization costs are covered up to 30 days prior to the date of admission. With maternity insurance, the expenses like surgeon fee, room and nursing charges, anaesthetist consultation and doctor consultation etc. are also covered.
However, it’s very important to have a careful understanding of inclusions and exclusions in maternity insurance in order to make informed financial decisions and to make sure the best use of the insurance plan.
Now let’s take a look at some of the best health insurance plans that come with maternity coverage:
1. Easy Health Family Floater by Apollo Munich Health Insurance
The Easy Health Family Floater from Apollo Munich Insurance comes with three different plans – Standard, Exclusive and Premium. While the standard health insurance plan is a normal plan with a number of benefits, the exclusive and premium health insurance plans are offered with maternity and newborn cover. The exclusive and premium options cover maternity expenses incurred both before and after the childbirth procedures, and the expenses related to the newborn baby from 1-90 days of age.
2. Star Health Wedding Gift Pregnancy Cover
Wedding Gift Pregnancy Cover by Star Health provides coverage for maximum up to two deliveries. This maternity insurance plan offers coverage for both normal and caesarean delivery. It also takes care of the expenses arising out of pre and post-natal expenses, and any post-delivery impediment cover for the mother after the childbirth. However, there is a 3-year waiting period is applicable under this plan. Star Health Wedding Gift Pregnancy Cover also offers coverage for newborn expenses. The maximum health insurance cover under this plan is Rs 10 lakh.
3. ProHealth Plus Plan by Cigna TTK Health Insurance
The ProHealth Plus Plan from Cigna TTK Health Insurance comes with the coverage for maternity, newborn baby expenses and vaccination. The maximum health cover that can be availed on this plan is Rs 10 lakh. The ProHealth Plus Plan mainly offers coverage up to Rs 15, 000 for normal delivery and up to Rs 25, 000 in case of caesarean delivery. The maternity coverage is accessible only after the waiting period of 48 months. The policy also covers the first year vaccinations expenses for the newborn.
4. Health Plus by Royal Sundaram
The Total Health Plus plan from Royal Sundaram General Insurance is a total insurance package that provides benefits up to Rs 30,000 and Rs 50,000. This health insurance policy covers maternity hospitalization as well as any complications arising before or after the delivery. However, you can only avail the maternity benefits only after a 3-year waiting period. Therefore, you should plan for your pregnancy correctly in order to avail coverage for pregnancy hospitalization expenses.
The Heartbeat Family Floater Plan offered by Max Bupa is one of the best health insurance plans given that it provides maternity cover and newborn baby cover in all of its 3 different plan types – Silver, Gold and Platinum. Under this health insurance plan, you can avail maternity coverage as well as newborn baby care including the first year vaccinations. All these three types of sub-plans provide maternity benefits for a maximum of two deliveries, given that the policyholder and spouse are covered under the health insurance policy for two continuous years.
Final Words: Usually, health insurance companies allow you to purchase or enroll the maternity insurance cover only when you conceive. The insurers will not consider your application if you’re already pregnant. In addition, maternity insurance policies come with a waiting period of 3-4 years before the benefits kick in.