Motherhood is one of the most beautiful and life-changing experiences for any woman. But being parents can be a little challenging, and you need to be financially prepared for the new addition to the family. Due to sky-rocketing healthcare costs, you may pay between ₹50,000 to ₹ two lakhs for delivering a baby at a good maternity hospital. That is where maternity health insurance can assist expectant mothers and provide them with top-quality healthcare facilities without wasting their hard-earned money.
A maternity health insurance plan offers coverage against the medical expenses incurred during pregnancy and childbirth. However, it has a waiting period ranging from 9 months to 4 years. Investing in a maternity insurance plan is recommended before you start family planning. This way, you can enjoy the coverage benefits in time when pregnant.
Inclusions and Exclusions of Maternity Health Insurance
It is important to note what is and is not covered under your maternity insurance plan. Here are the common exclusions and inclusions:
In-patient hospitalisation expenses
Normal or c-section delivery charges
Pre or post-natal care expenses
Newborn baby expenses
Baby’s vaccination expenses
Stem cell preservation
Medically necessary terminations
Pre and post-hospitalisation expenses
Stem cell harvest
Medical consultations before delivery
Hospital cash benefit
Benefits of Maternity Health Insurance
Maternity health insurance plans keep new parents financially secure and healthy during the most memorable moments of their life. It protects your savings and ensures stress-free delivery by offering coverage against various medical expenses.
Unexpected expenses cover
Sometimes, women must undergo medically necessary terminations due to complications during pregnancy. And in cases of premature deliveries, newborns must be kept in incubators as they need special care. These unforeseen circumstances can lead to hefty amount of hospital bills. With a maternity health insurance plan, you can seek coverage against such medical expenses and reduce your financial burden.
You can get your newborns covered right from their birth by investing in maternity health insurance. It covers newborn baby expenses, vaccinations, and other medical expenses. Some plans with maternity cover also offer up to 200% of the sum insured for the second baby.
The policyholders can avail of tax benefits on the premium paid for the maternity health insurance plans under Section 80D of the Income Tax Act.
Peace of mind
Investing in maternity insurance plans can help you get the necessary financial assistance and much-needed peace of mind.
Different Types of Health Insurance Plans with Maternity Coverage
Care Joy Maternity Health Insurance
The plan covers expenses for the expecting mothers and newborn babies. It is available in two variants- care joy today and care joy tomorrow. The maximum entry age for the plan is 45 years, while 18 years and one day is the minimum entry age for adults and children.
It offers coverage against pre and post-natal expenses, ambulance charges, newborn expenses, daycare treatment expenses, and in-patient hospitalisation expenses.
The plan offers a sum insured of ₹ three lakhs and ₹ five lakhs and has an initial waiting period of 30 days.
Bharti Axa Smart Super Health Insurance
The plan offers maternity coverage only under the family floater policy and has the sum insured option starting from ₹ five lakhs to ₹ one crore. It comes with a lifetime renewability option and covers in-patient expenses of newborn babies for 90 days. The insurance plan also covers medical expenses for two deliveries or medically necessary terminations.
Magma HDI One Health Policy
You can enjoy maternity benefits in the premium option of the policy. The plan covers normal and c-section deliveries and medical expenses of up to ₹1,00,000 incurred during pregnancy.
Universal Sompo Complete Health Insurance
The maternity cover is provided under the privilege and essential variants of the plan. The plan can be renewed lifelong and comes with three years waiting period. The essential option covers up to ₹15,000 and ₹25,000 for normal and c-section deliveries, and up to ₹25,000 and ₹50,000 for normal and c-section deliveries covered under the privilege option.
Edelweiss Complete Health Insurance
The plan offers maternity benefits of a maximum of ₹ two lakhs and ₹50,000 under the platinum and gold health insurance options. It ensures lifetime renewability and offers medical coverage against two deliveries or medically necessary terminations during the first three months. The waiting period for the policy in four years.
If you are planning to start a family, you must opt for the top maternity health insurance plan from the best health insurance company in India. Buying maternity insurance is very important to avoid financial stress and safeguard expectant mothers and babies.