A maternity insurance policy is a type of health insurance policy that covers the medical expenses for delivery, hospitalisation, and medicines. Parenthood is one of the most significant life experiences for a couple. But given the rising medical cost, this stage can put you under some financial burden. This is exactly when a comprehensive maternity insurance policy comes as a saviour. Maternity insurance helps expecting mothers get quality healthcare facilities without the financial burden.
What is maternity health insurance?
Maternity health insurance policy covers the costs for C-sections and normal deliveries up to the sum insured. You can also opt for health insurance with maternity coverage as an add-on cover. 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. Get pre-and post-hospitalisation coverage up to 30 days before and 60 days after hospitalisation.
Key features of maternity health insurance
Here is a quick look at the key features of maternity health insurance.
Features |
Specifications |
Network hospitals for cashless facilities |
6,500+ |
Coverage |
Up to Rs. 50 lakh* |
Newborn care |
Covered |
Tax benefits |
Available |
Daycare procedures |
Covered |
OPD cover |
Covered |
Ambulance charges |
Covered |
Key benefits of maternity health insurance
A maternity health insurance policy comes with several 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 diagnosed with any form of critical illness at birth. You can get an additional child health insurance too.
· Ambulance charges
Covers ambulance charges in case of an emergency.
· Cashless facility
Hospitalisation at an insurer’s network hospital allows you to get the advantage of cashless treatment. Here the insurer will directly settle bills with the hospital. In this case, you need not make any out-of-pocket payments. With a pregnancy insurance, you can get your treatment at a network hospital from the early stage of pregnancy.
· Hospitalisation coverage
Covers any pregnancy-related expenses incurred 30 days prior and 60 days post-hospitalisation under the plan.
· Easy and quick online application process
Buy a maternity health insurance policy online without any paperwork.
· No Claim Bonus
You can benefit from the 10% cumulative bonus offered for having claim-free years.
· Tax benefit
Get tax exemption up to Rs. 60,000 under the relevant sections of the income tax act. Check health insurance tax benefits.
Factors to consider while buying a pregnancy insurance plan
Here are some key factors that you must consider when buying a maternity health insurance policy.
· Focus on the policy premium
Choose a maternity health cover with a premium as per your financial
· Check the policy waiting period
It is always a wise decision to choose a health insurance with maternity coverage 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.