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All About Maternity Insurance before You Start Planning Your Family

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Giving birth is undoubtedly a very special and exciting phase in a woman’s life. But it can be fraught with difficulties and complications too. And though the baby tends to be the centre of attention, there is no denying that the mother also needs equal attention and care before and after delivery. And for that, you need to be able to afford the best healthcare services and treatments possible. Which is why, maternity insurance is so popular. It takes away your financial worries during the most joyful period of your life, so that you can focus on yourself and your little one without worrying about hospital bills.

Understanding Maternity Insurance

Maternity insurance is generally offered as a part of health insurance cover or an add-on. You may need to go through a specific waiting period of a few years, before the insurance can kick in. Generally, the waiting period is for two years, though it can be extended to four years, depending on policy terms and conditions. However, once you become eligible for maternity cover, it will take care of most of the pregnancy related expenses whether they occur in the prenatal period, postnatal period or during delivery.

Cover for Prenatal and Postnatal Costs

Before the baby is delivered, you will need to bear many different expenses. These are called prenatal expenses and they generally arise due to doctor visits as well as different medical tests and purchase of medicines etc. The medical expenses that are covered should be incurred within 30 days before the mother is admitted to the hospital and are related to safe childbirth procedure. The postnatal costs generally include expenses incurred during a period of 60 days after the baby is born and the mother is discharged. However, the scope of cover may differ from policy to policy.

Inclusions of Maternity Insurance

Of course, the specific features of any insurance policy tend to differ on a case to case basis. However, with a maternity insurance policy, you will get some very good features and covers which will justify the money that you pay for it. Also, these may be a part of the standard cover or over and above what the standard policy covers. The maternity policy will naturally cover the cost of delivering the baby, be it normal delivery or a Caesarean section. Moreover, the entire hospitalisation will be cashless in network hospitals. The cost of daycare as well as ambulance charges and costs of doctor, nursing charges etc. will be covered too.

Things Not Covered in Maternity Medical Insurance

As with any other policy, maternity medical insurance does come with certain limitations. You will need to cover such expenses from out of your own pocket. In many policies, sanitisation and personal protective equipment kit expenses are not covered. Any medicines or procedure not related to maternity will be excluded too. If the pregnancy is impacted by any pre-existing conditions, the medication or treatment for those conditions will not be covered either. Infertility treatments and expenses related to congenital ailments won’t be covered either.

Advantages of Maternity Insurance

• Helps you plan your future:

This is perhaps the most important advantage of health insurance or maternity insurance. It allows you to plan well because you know when the waiting period will end and when the policy benefits will become available to you as per terms and conditions.

• Provides peace of mind:

Your medical insurance is there to handle emergencies,which means you don’t need to worry that some unexpected medical expense will come up and completely ruin your financial plans. This means complete peace of mind.

• Gives you access to quality medical care:

With maternity insurance, you get affordable access to hospitals in the company’s cashless network. This would otherwise have been impossible or too expensive. Moreover, you can approach a network hospital anywhere in India.

• Provides income tax benefits:

As per income tax rules, a person holding a valid medical insurance is considered eligible to deduct the premium amount of up to INR 25,000 from their taxable income. This can reduce the income tax burden for many people.

Conclusion

All in all, maternity insurance, whether it comes as a part of standard health insurance or an add-on, can make your life easy if you are planning to have children in a few years. With it, you can avail the best healthcare facilities without worrying about the expenses and can focus on your health and bond with your baby.

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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