What is Maternity Insurance?
Maternity Insurance is a type of health insurance cover which comes with coverage for maternity related expenses. The costs incurred on hospitalisation for the delivery of the baby is covered. The coverage even extends to pre and post natal expenses which are incurred. Most plans offer new-born baby cover also. Additionally these plans offer all other benefits offered by a standard health insurance plan.
Why do you Need Maternity Insurance?
The birth of a child comes with unbridled joy but also increases the expenses of the household. Having a maternity insurance plan ensures that your expenses related to the delivery of the baby are taken care of. It can be a huge relief at a time when your expenses are bound to increase drastically.
Best Maternity Insurance Plans in India
Some of the health insurance plans which provide maternity cover are as follows:
Benefits of maternity health insurance
Factors to consider while buying a maternity health insurance policy
- How much maternity cover is being provided?
- Whether more than one child is covered?
- Are new-born baby expenses covered?
- What are the other benefits of the plan?
- What is the waiting period for the maternity benefit?
- What are the exclusions in the plan?
Eligibility criteria for maternity health insurance
- Minimum entry age of 18 years
- Maximum entry age of 45 years
- Most plans cover up to 2 deliveries
- Most plans will have a waiting period
Maternity & New-born Cover with Health Insurance
Health insurance plans with maternity benefits cover the medical expenses of the new-born baby for a period of 90 days. This period can vary from policy to policy. After this period, you will have to include the baby as an additional member in the policy to enjoy benefits.
When to Purchase Maternity Health Insurance?
It is advisable to buy a maternity health insurance plan a few years before your plan to have a baby. This is important for 2 reasons:
- Most health insurance plans will have a waiting period to provide maternity benefits
- Some standard health insurance plans may not cover you if you are already into a few months of pregnancy
FAQs on Maternity Insurance
What is the process to make a claim in maternity insurance?
What documents are required to raise a claim for maternity insurance?
- Policy documents
- ID Proof
- Pre-authorisation form
- Discharge Form from the hospitals
- Details of all treatment at the hospital
- Details of all pre and post hospitalisation expenses if you wish to claim them
What are the exclusions in Maternity Insurance Plans?
- Pregnancy within the waiting period is not covered
- Cost of infertility treatments
- Cost of food supplements and tonics which are not part of the treatment