5 Things to Know About Maternity Insurance in India

Motherhood is the most important transition that a woman goes through. Although you may see a lot changing in your life at this time, becoming a mother is truly a magical journey.

Lately, in India, women are delaying pregnancy to focus on their careers. The possibility of pregnancy-related complications when you get older is higher. Apart from this, motherhood related expenses and responsibilities begin from the day you get pregnant and are never-ending.

These expenses may push you into financial turmoil if you are unprepared. To avoid this situation, it is important to procure financial support with a maternity insurance plan.

 Here are five common questions related to such policies.

What is maternity insurance?

This is a type of insurance coverage covering all the expenses associated with childbirth up to a certain period. You may choose a standalone policy or include it as an add-on health insurance with maternity cover  by paying an extra premium.

Can you get health insurance if you are pregnant?

You may avail of health insurance when you are pregnant. But, if you are wondering about when to procure maternity coverage, it is recommended you do not delay your decision. This is because maternity insurance without waiting period is not easily available. Generally, you need to wait for a period of around three to four years before enjoying this coverage.

Is pregnancy considered a pre-existing condition for health insurance?

Pre-existing conditions are already present at the time of purchasing the policy. Most insurance companies do not provide maternity insurance if you are already pregnant. This is because they consider your pregnancy as a pre-existing condition and is beyond the policy cover.

What is covered under maternity insurance?

Maternity insurance covers all expenses up to a certain pre-defined limit for your delivery. The coverage is available for normal as well as C-section deliveries. Some policies may also include the cost of termination due to complications. Certain insurers offer pre and post-natal expenses and newly born baby coverage for a specific amount of maternity insurance.

How is maternity insurance premium calculated?

The premium payable on a maternity insurance policy  is higher than a regular health plan. The certainty of a claim being filed under the policy is absolute, which is why insurers levy a higher premium on these policies. Before you decide to buy such coverage, it is recommended you do a detailed cost-benefit analysis between different plans offered by various insurance providers.

It is crucial to remember that as you grow older, the premium for maternity insurance increases. Furthermore, pregnancy-related costs are escalating every day. To ensure you are able to avail an affordable plan with the maximum benefits, it is advisable to buy one today and not delay your decision.

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