Importance of Having Health Insurance with Maternity Cover

Posted on: Apr 21, 2022 | | Written by:

Importance of Having Health Insurance with Maternity Cover

Are you expecting to hold a tiny bundle of joy in your hands soon? Well, then you must be both excited and anxious. Healthcare expenses associated with pregnancy and childbirth are constantly increasing, which means you need to plan your finances well before bringing home a baby. This is the reason why you need health insurance with maternity cover. Maternity insurance covers pre and postnatal care expenses, room charges, delivery expenses, ambulance charges, and more. Hence, having a health insurance policy with maternity cover can come in quite handy not only during pregnancy but after childbirth as well. Since there are many good health insurance plans in India,you must compare a few to find one that best matches your requirements.

What is maternity insurance?

Maternity insurance is a type of health insurance coverage that takes care of pregnancy-related medical bills. This insurance policy covers both normal and caesarean delivery expenses as well as pre and postnatal care, ambulance charges, vaccinations for the new-born and more. Expectant mothers can either take a standalone maternity insurance policy or as an add-on cover with health insurance by paying an additional premium.

Can you get insured under maternity health insurance while you are pregnant?

You can take a health insurance policy while you are pregnant. However, your health plan will not cover your maternity expenses until the waiting period is over. Since the waiting period can befrom 9 months to 4 years, you mustplan and take maternity health insurance sooner to enjoy the benefits whenever you get pregnant.

Benefits of health insurance during pregnancy

1. Offers financial security:

A health insurance plan with maternity benefits offers financial security to new parents. This health plan will coverthe cost of both normal and caesarean deliveries and keep your savings intact.

2. Covers pre and post hospitalisation expenses:

A good health insurance policy will also cover prenatal,postpartum and delivery-related healthcare costs. This includes pre and post hospitalisation bills, room charges, doctor’s consultation fees, ambulance charges and more. All these can add up to several thousand rupees and create a hole in your pocket if you don’t have a maternity cover.

3. Covers private hospital bills:

Private hospitals offer better healthcare facilities, so treatments there are usually on the expensive side. For normal delivery, you may have to pay over INR 50,000 in a private hospital. Caesareandelivery is more expensive andcould cost over INR 1 lakh. And in case there’s a complication, you may have to shell out some extra thousands. In such cases, having health insurance with maternity cover can be a blessing.

4. Takes care of unforeseen expenses:

Pregnancy might involve complications, such as anaemia, high blood pressure, infections, premature delivery and more. In case of premature delivery, the new-born may require special care in the hospital for a few days. In such cases, the new-born is kept in an incubator and this can cost you a lot every day. However, if you have maternity cover, the insurance company will take care of these unforeseen expenses and save you from financial woes.

5. Covers new-born:

A regular health insurance policy starts covering babies only after 90 days from their date of birth. However, health insurance with maternity benefits willcover your new-born from day one. The insurer may also take care of the vaccination costs and other such expenses till the policy is active.

6. Keeps away financial setbacks:

Delivery, vaccination costs and childcare can be quite expensive for many. However, if plan your finances well and take maternity cover in advance, you can welcome your child with a lot more happiness and enthusiasm.

7. Tax savings:

Under Section 80D of the Income Tax Act 1961, you can also enjoy tax benefits on the premiums paid towards your health insurance policy with maternity cover. Hence, the premium should not pinch your pocket.

8. Cashless claim facility:

Health insurance plans with maternity cover also allow cashless treatment at network hospitals around the country. If you get admitted to a network hospital, you can avail quality treatment without worrying about the bills. All you need to do is inform your insurance company in advance and they will take care of the rest. This will also save you from the hassle of filing a reimbursement claim.

Conclusion

Health insurance with maternity cover is important for financial protection during pregnancy and after childbirth. However, you must buy the policy inadvance so that the waiting period is over by the time the baby is conceived. There are many good health insurance plans in India with maternity cover, so finding a suitable one should not be a problem.

Disclaimer: The above information is for illustrative purpose only. For more details, please refer to policy wordings and prospectus before concluding the sales.

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