Things To Know Before You Buy A Maternity Cover

Women often think that having a health insurance policy by their side will help them manage maternity expenses. However, that is not the case in most of the situations. You may have an ideal health insurance policy, but it may not cover maternity and associated expenses. This is why it is important to have a maternity insurance plan that makes you financially strong during an emergency situation. 

Why Is Maternity Cover Important?

We live in a day and age where medical prices increase on a daily basis. Taking care of maternity expenses during these times can become even more stressful if you lack a good maternity cover. 

A maternity health insurance policy, ideal according to your needs will not only help you stay free from financial concerns, but also ensure quality treatment. Your maternity cover, with all its benefits intact will make sure that the new phase of your life starts with happiness and not worries of any kind. 

So, are you ready to buy the perfect maternity cover now? Let us take a look at the key factors you should consider while making your choice. 

What All To Keep In Mind While Buying Maternity Cover?

Purchasing an ideal maternity health insurance cover will demand you to focus on factors like:

1. Coverage Offered - Maternity health insurance policy should provide coverage for pre & post hospitalization, pre & post natal expenses, and normal or caesarean delivery expenses. An ideal health insurance for maternity should also cover newborn baby expenses including vaccination charges as well as. All in all, your perfect maternity cover should ensure that you and your newborn are taken care of without any compromises on the treatment. 

2. Waiting Period - While you may be happy that you and your baby are getting covered for all major expenses, do not forget that you will be able to avail the benefits only after the waiting period. Most of the companies like Royal Sundaram, ManipalCigna, and others provide maternity cover after a specific waiting period such as 3 years or 4 years. On the contrary, Bharti AXA, under its Smart Super Health Insurance policy provides cover for maternity after a waiting period of 9 months. Take note that the waiting period would vary depending on the health insurance company. 

3. Exclusions - Your ideal maternity cover may give you a lot of benefits. But, there are many features that it won’t cover. Make sure you take a look at the list of exclusions regarding maternity to gain an idea of what all you won’t get covered for. A few common exclusions under maternity aspect include pregnancy complications arising out of pre-existing diseases, treatment of ectopic pregnancy, congenital disorders, voluntary termination of pregnancy or abortion, infertility treatment, expenses for reproductive medicines, costs of Vitamins and tonics, etc. 

4. Sublimits - Health insurance policies with maternity cover often come with the feature of sub-limit. Rather, built-in sub limit on the maximum coverage that one can avail. Keep in mind that due to the availability of sub limit feature, even if your plan offers coverage for a few lakh rupees, you will benefit only about 10% to 20% for maternity expenses.

Now that you know the prime elements to look for before buying a maternity cover, make sure you take out time and analyze your requirements too before moving ahead. Keep coverage, waiting period, exclusions, and sub limit in mind so that you choose the right policy instead of the most cheap one. 

When performing comparison of various health insurance policies offering maternity cover, do remember to focus on Claim Settlement Ratio, policy premium, and other benefits like emergency ambulance, OPD expenses, and more. 

Conclusion

Pregnancy is one of the most precious phases in a woman’s life. By choosing health insurance covering maternity expenses you can make this time and the time ahead even more enjoyable. Remember, your maternity cover will help you prevent your physical and mental state from financial burden, especially when you cannot afford to lose your calm. 

So, go ahead and start working on your specific maternity requirements. Look for plans that give you the peace of mind you deserve during this period. Rest assured, doing so will help you make the right decision. 

You May Also Like To Read: Top 10 Maternity Insurance Plans in India

Disclaimer: This article is issued in the general public interest and meant for general information purposes only. Readers are advised not to rely on the contents of the article as conclusive in nature and should research further or consult an expert in this regard.