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Advantages of Maternity Insurance Policy

Motherhood is the most fulfilling experience for a woman. The joy of welcoming a new life for a couple is unparalleled. It unquestionably is the beginning of a new, fulfilling experience for both parents. However, clubbed with the wonder of creating a new life, one of the most lurking issues that tend to overshadow the excitement of couples during pregnancy is the enormous medical bills that they would have to deal with.

To overcome the motherhood related expenses and keep your saving intact, you need to take out maternity insurance that would take care of all your pre and post-delivery requirements.

However, to understand the benefits of maternity insurance, we first need to know what maternity insurance is all about and what all is covered under this insurance scheme.

What Is Maternity Health Insurance Coverage?

Maternity health insurance coverage is a health plan designed to cover the maternity and health care cost of expecting mothers and their new-borns.

Earlier, maternity insurance used to be provided as an add-on or additional rider to an already existing general health insurance policy, which offered limited scope and spirit. However, owing to an increased sense of customer-centric focus and the rapid expansion of this industry, many insurance companies have come up with diverse maternity insurance policies, offering many benefits and features that cover almost every financial requirement during maternity. Hence, instead of banking on a limited ambit policy, it is advisable to take out a complete pregnancy health insurance package that would cover the entire cost of pregnancy.

What to Watch out for in a Maternity Insurance Health Policy?

A maternity insurance policy should have the following features:

  • Coverage : When taking out maternity insurance, make sure the policy covers all costs to be incurred during pregnancy, including tests, hospitalisation, medications, check-ups and any other unforeseen emergencies that may arise in due course of time, during the pregnancy period.
  • Waiting Period : Generally, maternity insurance policies have a waiting period ranging from 2 to 5 years. This means you would have to wait for the stipulated period before availing of its benefits. Hence, it is advisable to take out a maternity policy beforehand to be able to avail its benefits at the right time.
  • Clauses : There may be hidden clauses attached to the policy that you opt for. Hence, go through the entire literature thoroughly before signing on it. Also, compare and analyse all the features, clauses, terms and conditions, benefits, etc. before purchasing any maternity insurance plan.

Advantages of a Maternity Insurance Health Plan

Taking out a maternity insurance plan can provide you with a wide range of benefits. For a better understanding of it, here is a list of what comes in the package.

  • Coverage Benefits : Pre-natal tests, medical procedures, and hospitalisation - most maternity insurance policies entitle you to all these benefits. It would also include coverage for the Normal and Cesarean section childbirth method and many other postnatal tests, and recuperation as well. The advantage of such a maternity insurance policy would secure you sufficient coverage, without you having to using up your savings for the same at any stage.
  • Additional Benefits An add-on maternity policy to a general policy plan would not entitle you to any complications arising during pregnancy and childbirth. Hence, the best solution to this problem is a specific maternity insurance plan. The present-day maternity insurance plans offer multiple riders, thereby impacting the premium to be paid for the same. Opting for maternity coverage in the main plan would automatically entitle you to additional benefits without any extra cost.
  • Coverage for the New-born Modern-day maternity insurance plans even offer medical coverage for the new-born up to a certain specified period. This may include any congenital conditions, medical bills or any diseases which the new-born may have in the initial days of birth.

  • Transportation Benefits and Extra Coverage Options : Maternity insurance, in most cases, covers ambulance charges, nursing fees, and other related miscellaneous expenses, too. Knowing the fact that whatever you may end up spending during your maternity period and childbirth would be borne by the insurer up to the sum insured limits ensures a stress-free delivery for the mother as well as her partner.

Why Do You Need Maternity Coverage?

As the prime responsibility of a parent-to-be, you must be ready for the expenditure that would be incurred during pregnancy and childbirth. With medical expenses increasing exorbitantly, it becomes mandatory to prepare for the expected and unexpected maternity costs, much in advance. For this reason, you should opt for an exclusive maternity insurance policy that would let you enjoy every moment of your pregnancy and newfound motherhood without having to worry about the expenses it would bring along with it.

In a nutshell, maternity coverage covers the two most important aspects:

  • It safeguards you from the increasing health costs and inflation that the health and medical industry is typically subjected to.
  • It covers the entire cost of maternity, all through your pregnancy period until childbirth and even beyond, depending upon the maternity insurance policy you opt for.

Final Thoughts

Remember, motherhood is the most beautiful gift a woman is bestowed with during her lifetime. Parents-to-be should nurture every moment of it without having to worry about anything else on earth, including the monetary costs involved therein. This security can be achieved only by opting for a reliable maternity plan from a reputed insurance company.

However, couples should be careful enough to select a policy way before pregnancy occurs, as most insurance companies do not issue maternity insurance policies to women who are already carrying. Therefore, it is advisable to plan and apply for a maternity policy that gives maximum benefit to you at the right time in your life.

Last but not least, to claim the policy, you should inform your insurance company about the pregnancy right at the conceiving stage. Once hospitalised, you should raise the claim for the maternity insurance policy with your insurance company. With online options available these days, applying for a maternity policy or even claiming it has become extremely convenient and hassle-free.

Recommended Link:Maternity Insurance Coverage