Maternity Insurance Policy

Maternity Insurance Policy

Know how maternity insurance policy ensures a safe parenthood journey

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3 mins
01 Feb 2023

Parenthood is one of the most significant life experiences for a couple. But given the rising medical cost, this time can also be a cause of worry due to a substantial financial burden. Worry not, a comprehensive maternity insurance policy comes as a saviour and helps expecting mothers get quality healthcare facilities without financial burden.

What is maternity health insurance?

When you opt for a maternity health insurance policy the costs for C-sections and normal deliveries (up to the sum insured) are covered by the insurance provider. Those willing to opt for this insurance coverage must keep in mind that it can be added as an add-on or rider cover along with a standard health insurance policy. Further, several maternity insurance companies provide coverage for up two pregnancies. This add-on coverage also provides financial assistance for the newborn’s vaccination and other medical costs that may arise. Post - and pre-hospitalisation coverage is also provided for up to thirty days before and sixty days after hospitalisation.

Features and benefits of maternity health insurance

A maternity health insurance policy comes with several features and benefits. Some of these are as follows:

Comprehensive coverage

Get complete coverage for expenses associated with delivery, hospitalisation, medicines and more.

Newborn care

The policy provides coverage to the newly born child if he/she is diagnosed with any form of critical illness at birth.

Ambulance charges

Ambulance charges are also covered in case an emergency does arise.

Cashless facility

Hospitalisation at an insurer’s network hospital allows you to get the advantage of cashless treatment wherein the bills are directly settled between the hospital and your insurer. In this case, you need not make any out-of-pocket payments. Being associated with a network hospital from early pregnancy will work to your advantage at this time.

Hospitalisation coverage

Any pregnancy-related expenses incurred 30 days prior and 60 days post-hospitalisation are covered under the plan.

Factors to consider while buying a maternity health insurance policy

Focus on the policy premium

Choose a maternity health cover with a premium as per your financial capabilities but one that offers you comprehensive coverage.

Check the policy waiting period

It is always a wise decision to choose a maternity health insurance policy that comes with a limited waiting period.

Know the network hospitals

Knowing the network of hospitals when you choose the plan will allow you to get cashless treatment in times of emergencies. Most insurers have tie-up with some of the leading hospitals in the city.

Eligibility criteria for maternity health insurance

Maternity health insurance policy can be purchased by anyone between the age of 18 & 45 years. However, one should note that the eligibility criteria tend to vary for different insurers.

Inclusions of maternity health insurance

Here are the pointers covered under a maternal health insurance policy:

  • Ambulance expenses

  • Inpatient care treatments

  • Medication

  • Follow-up visits

  • Pre-natal expenses

  • Daycare treatments

  • Room rent charges

  • Newborn baby cover

  • Normal/Caesarean delivery

Exclusions of maternity health insurance

  • Cosmetic surgery

  • Pre-existing conditions

  • Expenses related to pregnancy before completing the policy waiting period

  • Medical expenses for vision, hearing and dental

Documents required to raise a claim for maternity insurance

In order to raise a claim, a policyholder will have to keep the following documents handy:

  • Duly filled insurance claim form

  • Discharge summary

  • Policy documents

  • Consultation bill

  • KYC documents

  • Passport-size photos

  • Original hospital bills

Raise a cashless claim for maternity health insurance

Step 1: You have to submit a properly filled form provided by the hospital during the time of hospitalisation.

Step 2: Following this, the hospital will send a claim form to the insurance provider with the doctor’s report.

Step 3: You or the hospital must reply to the representative from the insurance provider when they raise a query.

Once your insurer approves the insurance claim, the company will pay the expenses to the hospital as per the sum insured.

Raise a reimbursement claim for maternity health insurance

Step 1: Submit a properly filled claim form to your insurer after discharge, with all the documents, such as bills and receipts of reports and treatments, etc.

Step 2: A representative from the insurance provider might get in touch with you in case of a query. You will have to submit all the necessary documents and additional information to address the query.

Step 3: Once the insurer approves the claim request, you will receive the reimbursement as per the sum insured.

Disclaimer

Insurance is the subject matter of solicitation. Bajaj Finance Limited (‘BFL’) is a registered corporate agent of third party insurance products of Bajaj Allianz Life Insurance Company Limited, HDFC Life Insurance Company Limited, Future Generali Life Insurance Company Limited, Bajaj Allianz General Insurance Company Limited, SBI General Insurance Company Limited, ACKO General Insurance Limited, Niva Bupa Health Insurance Company Limited , Aditya Birla Health Insurance Company Limited and ManipalCigna Health Insurance Company Limited under the IRDAI composite CA registration number CA0101. Please note that, BFL does not underwrite the risk or act as an insurer. Your purchase of an insurance product is purely on a voluntary basis after your exercise of an independent due diligence on the suitability, viability of any insurance product. Any decision to purchase insurance product is solely at your own risk and responsibility and BFL shall not be liable for any loss or damage that any person may suffer, whether directly or indirectly. Please refer insurer's website for Policy Wordings. For more details on risk factors, terms and conditions and exclusions please read the product sales brochure carefully before concluding a sale. Tax benefits applicable if any, will be as per the prevailing tax laws. Tax laws are subject to change. Visitors are hereby informed that their information submitted on the website may be shared with insurers. BFL is also a distributor of other third-party products from Assistance Services providers such as CPP Assistance Services Pvt Ltd, etc. All product information such as premium, benefits, exclusions, sum insured, value added services, etc. are authentic and solely based on the information received from the respective insurance company or the respective value-added service provider or Assistance company.
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