Maternity health insurance is an important insurance product that covers all sorts of expenses related to childbirth up to a specific limit. It comes as a separate policy and can even be opted as an add-on cover with your base health plan by giving an additional premium. Remember that maternity cover insurance comes under the health insurance realm.
You know what, with skyrocketing medical expenses and huge complexities of childbirth, the delivery expenses in a good hospital could range from Rs.50,000 to that of even 1.5 lakh or perhaps more. It can change as per the complications involved in the childbirth process i.e., from that of normal delivery to that of cesarean. In such cases, insurance for the newborn proves to be a blessing.
It is also true that maternity insurance with coverage for baby health care eases out the financial stress in such times by covering the connected medical expenses that are most costly. Every benefit under this maternity plan has its own specific limit subject to the base sum assured.
Though these things can vary from policy to policy, yet some things may be more or less the same in every policy. Have a look below:
However, you must Note that the Coverage can be limited to the plan type and may not be covered outside that. Similarly, it differs from insurer to insurer.
Usually, health insurance policies do not cover your newborn babies until they are ninety days old. However, an insurance policy along with maternity coverage includes the newborn baby right from birth. Moreover, interestingly, many of these plans even encompass vaccination charges for the newborn right till the finish of the policy year.
In the case of complexity such as premature birth, a newborn requires to be kept in an incubator for a specific period. The pricing of such treatment may go up to nearly Rs. 10,000 per day. Such are the unforeseen circumstances that can turn out to be more stressful due to the expenses. With a good and effective maternity insurance plan, you may find some relief from the financial burden as it is going to cover most of the expenses. Some maternity insurance plans even offer you coverage for the newborn baby if the child is born with a critical illness or is observed to struggle with a congenital disorder.
Well, most of the insurers impose a waiting period for maternity perks varying from nine months to that of as long as thirty-six months. So, it is sensible to plan early for such insurance. You know what, a plan offering maternity benefit is worth purchasing at the time of your wedding because most couples think of planning a child only after three or four years of their marriage.
In the instance of maternity and pregnancy insurance plans, premiums are quite higher as compared to other types of health plans (which do not encompass maternity benefits). This is for the reason that in maternity insurance plans, there is a complete certainty of the event for which insurance is taken. So, from the perspective of an insurer, a claim is bound to happen.
Because of this reason, most of the insurers choose to keep the premium high for such plans. It is wise to make a cost-benefit analysis before you purchase such a plan. It is imperative to check the cover offered by your employer-based health scheme before purchasing a separate policy.
There are different factors that you must have in mind before you make a final decision. After all, once a specific policy is taken, you would not be able to do anything about it then. So, here are some points that you may want to consider.
So, you must look for good and suitable maternity Care Health Insurance as it is essential in this unpredictable era. You would never want that your health or the health of the newborn suffers because of any financial burdens.
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