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As a responsible parent, you must prepare for the expenses related to pregnancy and delivery of the baby. Today, with the rising medical expenses, it is important to be well prepared for all planned and unplanned expenses with a maternity insurance policy.
Parenthood is one of the crucial decisions that one makes in life. It is something to which every couple looks forward to. While the anxiety about parenthood may take a few days to settle, one thing you don’t need to worry about is the hospitalisation expenses if you have sufficient maternity insurance. While there are several other factors that couples should consider before and after the baby is born, one cannot overlook the cost involved. With the escalating medical costs across the country, the expenses of a normal delivery in a decent hospital could range anywhere between Rs. 50,000 to Rs. 2 lakhs. These figures are shocking and suggest a need for proper financial planning towards the medical expenses that will occur during pregnancy. Hence, maternity insurance policy offered by several health insurance companies is one of the best approaches to tackle these expenses.
The benefits of maternity insurance include financial protection during maternity, pre and post-natal care, pre and post hospitalisation expenses, ambulance charges, delivery expenses, irrespective of whether it is a normal or caesarean delivery. The maternity insurance plan also covers the new-born baby until a specific period.
Below listed are the top five reasons why it is important to get maternity insurance in India.
Prepares the couple for complications: In the case of complexity like premature birth, a new-born needs to be kept in an incubator for a certain period of time. The cost of such treatment can go up to about Rs. 10,000 per day. These are unforeseen circumstances that can become more stressful due to the expenses. With a good maternity insurance plan, you could find some relief from the financial burden as it would cover most of the expenses. Some maternity insurance plans offer coverage for the new-born baby if he/she is born with a critical illness or is observed to suffer from a congenital disorder.
Helps a couple to start a family without the financial burden : Most couples these days take time to plan their baby because of the expenses that arise with having and raising a kid. Now, a maternity insurance policy that comes with sub-limits of 1 to 4 years, depending on the insurance company, you can plan for a kid without facing a financial burden.
The following are some of the top maternity insurance plans offered by insurance companies in India.
Other value-added features of maternity insurance plans
There are several insurance companies offering maternity coverage. It is advisable to compare these plans by studying their features and benefits offered by them and then decide which policy is best suitable for you.
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