Embracing parenthood is one of the most exciting and challenging phases of a person’s life. While the entire experience is pleasant, it comes with responsibilities, especially financial obligations. Hence to better prepare one for the upcoming expenses, people create a fund exclusively to look after their maternity-related expenses. It is done by investing in a reliable maternity health insurance plan.
Also Read – Health Benefits of Collagen: Pros, Cons And More
If you’ve been planning to start a family, you should simultaneously start considering investing in the best available maternity insurance plans. To help you make better investment decisions, we’ve shared below every aspect you should be aware of while choosing the right maternity insurance.
- Get the Basics Clear
For those who aren’t aware, maternity insurance is an add-on cover that people buy with a family floater or individual health insurance plans. Most maternity plans also cover expenses related to fertility issues, medically necessary termination, etc., so the policyholder is secured against various situations. Once you’re secured under maternity insurance, you can rely on your insurer to look after the maternity expenses incurred before and after delivery. Different insurance companies offer maternity plans with slightly varied coverage, so ensure you read the entire terms and conditions before picking any particular plan.
- Know About the Waiting Period
Almost all the well-known insurance companies in India offering maternity insurance follow a waiting period clause. The policyholder must complete the waiting period set by the insurer to avail of the insurance benefits. The waiting period is not always the same for every insurer; it can vary from nine months to four years. It implies if you’re currently pregnant and are planning to get insured under the maternity plan, you won’t immediately get the insurance benefits. It is one reason people are advised to invest in maternity insurance.
Also Read – 4 Amazing Facts About Binchotan Charcoal
- Clauses Related to Pre & Post-Delivery Care
Maternity-related expenses are abundant, and they can break your bank if you don’t plan accordingly. As a policyholder, you should try to invest in maternity insurance that covers both pre & post-delivery care costs. Diagnostics, regular check-ups, ultrasounds, and consultation with a gynaecologist are some expenses that generally get covered in good maternity insurance plans. But it should be noted that not all maternity plans are created the same, and they may not offer the same benefits. So always check the complete list of coverage and exclusion before finalising any policy.
- Inclusions and Exclusions of the Plan
A good health insurance policy offers generous coverage to policyholders. But unfortunately, not all plans provide the same coverage. If you’re investing in maternity insurance for the first time, try to look for plans that offer delivery and labor expenses, generous limits on hospital and room rent, pregnancy complications, newborn baby cover, infertility treatment, medically necessary terminations, C-section, etc. Most reliable insurance policies have these features as coverage, but they may not be present in all maternity plans available in the market. So choose wisely.
Besides inclusions, another thing to consider before buying any maternity insurance is the exclusion. Although different plans may have various exclusions, some standard exclusion terms include pre-natal and post-natal medical expenses, expenses related to harvesting and storing stem cells, ectopic pregnancy, etc. To ensure you don’t encounter any unpleasant experience at a future date, always double-check the inclusions and exclusions before making any final decision.
Also Read – How Many Calories I Am Supposed To Eat A Day
- Other Terms & Conditions
Many people easily miss the miscellaneous terms and conditions related to the policy. Take the number of deliveries, for example. Some insurance companies allow a maximum of 2 deliveries during the policy period or lifetime, while others may be generous with this limit. The mother’s age is also crucial in maternity plans, and some insurers may even require the spouse to be covered under the very same plan. As a policyholder, you will be responsible for checking these little details before making any investment decision.
- Coverage for Newborn
It may come across as an instant surprise, but not many health insurance plans cover newborn babies by default. But you can cover your newborn by picking a policy that offers coverage from day one. Generally, good maternity plans cover the newborn baby for any complication for the first 90 days from their birth. If you pick the right maternity policy, everything gets covered for the newborn, from medical complications to vaccinations.
Also Read – How Psychologists Can Help You
- Room Rent Limits & Sub-limits
Depending on your medical condition, your stay at the hospital during delivery will vary. If you want to pick the most comfortable and best room type in the hospital without worrying about the per-day room rent, choose a generous policy with favorable room rent limits. Generally, insurers’ place a cap on the permissible room rent limit, so ensure the one you’re picking has a higher room rent limit. Besides the room rent limit, check the eligible sub-limits for other expenses. It will help you set precisely clear expectations from day one and prepare for the bid event accordingly.
Secure Your Maternity Phase with a Reliable Maternity Insurance
With the constantly rising medical costs, the importance of having maternity insurance cannot be emphasised enough. Investing in maternity insurance in advance is recommended if you don’t want to strain your savings during delivery. All major insurance companies offer maternity insurance with varying coverage terms, so you can proceed with the one that aligns with your requirements. You can consider maternity insurance as a safety net that will ensure you get quality medical attention during your delivery without worrying about hospital bills. So if you haven’t secured yourself under maternity insurance yet, do it at the earliest.
Also Read – The ultimate guide to reducing back pain