Key benefits of maternity health insurance
A maternity health insurance policy comes with several benefits. Some of these are as follows:
1. Comprehensive coverage
Get complete coverage for expenses associated with delivery, hospitalisation, medicines and more.
2. 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.
3. C-section delivery
Maternity health insurance typically covers the cost of a C-section delivery, which can be significantly higher than a normal delivery. This coverage ensures that both mother and baby receive necessary medical care during and after the procedure without the financial burden, offering peace of mind during childbirth.
4. Stem cell preservation
Some maternity health insurance plans also cover the cost of stem cell preservation, which allows parents to store their baby's stem cells for potential future medical use. This benefit can be invaluable for families seeking advanced medical treatments for various conditions in the future.
5. IVF treatment
Maternity health insurance can provide financial assistance for IVF treatments, which are often expensive. This coverage helps couples manage the high costs associated with fertility treatments, increasing their chances of starting a family without overwhelming financial strain.
6. Ambulance charges
Buy a maternity health insurance policy online without any paperwork.
7. Cashless facility
You can benefit from the 10% cumulative bonus offered for having claim-free years.
8. Hospitalisation coverage
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 maternity/pregnancy health insurance policy
When considering mediclaim for pregnancy, it's essential to understand the coverage options and limitations.Here are some key factors that you must consider when buying a maternity health 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 pregnancy insurance 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.
Also, read: Individual Health insurance
Which are the best maternity insurance plans available in India?
Consider maternity insurance that covers all pregnancy-related expenses, childbirth, and newborn expenses. You can have a look at the health insurance plans below that offer maternity coverage in their plan variants.
Bajaj Allianz Health Guard plan:
You get maternity coverage under its gold and platinum plan variant. The plans cover up to two deliveries or terminations (if recommended medically). These plans also cover any complications arising during the pregnancy period. You get coverage for pre-and post-natal hospitalisations up to the sum insured.
Note: Check with your insurer if you want to add maternity cover to your plan, as you may have to pay additional fees. It may vary from insurer to insurer.
Read also: Maternity insurance plans with no waiting period.
Who can benefit from maternity health insurance cover?
Anyone who complies with the following parameters can benefit from health insurance with maternity coverage, ensuring financial protection during pregnancy.
- Anyone married and below 40 years old can benefit from the plan.
- You can avail of the benefits if bought the maternity health insurance cover along with the health insurance policy.
- You can claim for maternity health insurance upon completing the waiting.
- You can claim for maternity health insurance up to two deliveries.
Also, read: Parents Health Insurance
Eligibility criteria for maternity health insurance
Anyone between the age of 18 and 45 years can buy the pregnancy health insurance plan. However, one should note that the eligibility criteria tend to vary for different insurers.
Most insurance companies offer maternity coverage for up to two deliveries only. Check with the insurer when buying the policy for more terms and conditions.
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- and post-natal expenses
- Daycare treatments
- Medically necessary pregnancy termination expenses
- Vaccination expenses for newborn
- IVF treatment
- Normal delivery expenses
- C-section delivery expenses
- In-patient hospitalisation expenses
- Pregnancy complications
- Stem cell preservation
- Surrogacy
Exclusions of maternity health insurance
- Cosmetic surgery
- Pre-existing conditions
- Expenses related to pregnancy before completing the policy waiting period
- Medical expenses for eyesight, hearing and dental
- Fertility treatments
- Diagnostic fees
- Congenital diseases
Also, read: Senior citizen health insurance
When to purchase maternity health insurance?
Maternity health insurance, also known as pregnancy insurance is designed to protect expected parents from the high costs of pregnancy and childbirth. It covers expenses such as prenatal care, delivery charges, and postnatal care. It is recommended for women who are planning to conceive or those who are already pregnant.
Purchasing maternity insurance coverage should be done well in advance of conception. This is because there is usually a waiting period, which can range anywhere from a few months to a year, before the policy becomes effective.
Another good reason to purchase maternity insurance early on is to ensure that any pre-existing conditions are covered. These include medical conditions such as diabetes or high blood pressure. By securing maternity insurance policy before getting pregnant, expectant mothers can ensure that they will receive adequate coverage for any medical complications that may arise during their pregnancy.
What documents are required to apply for Maternity Health Insurance?
To apply for maternity health insurance, applicants need to submit essential documents such as identity proof, address proof, and age proof for verification and policy approval.
1. Identity proof
Submit valid identity documents like Aadhar card, passport, PAN card, or voter ID to verify your identity while applying for maternity health insurance.
2. Address proof
Provide address proof such as a utility bill, Aadhar card, passport, or rent agreement to confirm your residential address for policy registration.
3. Age proof
Age proof can be submitted through documents like a birth certificate, Aadhar card, or school leaving certificate to verify your age eligibility for the policy.
A step-by-step guide to buying maternity health insurance plans
Follow the below steps to buy the maternity health insurance offered by our partners on Bajaj Finance Insurance Mall:
Step 1: Click on ‘Get Quote’ to open our online application form.
Step 2: Fill in the application form with your basic details or the person whom you want to insure. Provide name, gender, mobile number, date of birth, and residential PIN code.
Step 3: Now click on ‘Get Quote’ to proceed.
Step 4: Change the policy type option located at the top of the page to Top-up to get a list of comprehensive and top-up health plans. Choose the preferred health plan by clicking the ‘Buy Now’ button.
Step 5: Select the policy term and premium amount.
Step 6: Enter your email ID and check if all personal details shown are correct. Click ‘Next’ to proceed.
Step 7: Enter some additional details, such as height, weight, nationality, marital status, address, and nominee details (if applicable).
Step 8: Answer a few questions about your health and lifestyle by clicking the relevant checkboxes. Click on the ‘Next’ button to proceed.
Step 9: Verify if the previously filled details are correct. Click on the ‘Proceed’ button to visit the payment page.
Step 10: Make the payment through net banking, UPI, debit, or credit card to buy the policy.
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
What is the claim process to avail of the maternity health insurance policy?
You can claim for pregnancy insurance policy in two ways.
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.
Also, read: Family health insurance
Raise a reimbursement claim for maternity health insurance
Step 1: Submit a properly filled claim form to your insurer after discharge. Also, 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.
Also, read: Medical Reimbursement
Things you must know before buying a maternity health insurance policy
Waiting period:
Most maternity insurance plan come with a waiting period including maternity cover benefits. Also, you may have a waiting period to avail of critical illnesses coverage if offered under the plan.
Number of children covered:
Most pregnancy insurance plans cover up to two children. Usually, maternity insurance plans provide coverage for newborns of age up to 90 days, and vaccination coverage for children up to one year old.
Termination/abortion:
Some maternity insurance cover child termination or abortion in up to two instances. Due to pregnancy complications, it becomes medically necessary to terminate a pregnancy. Your health policy covers these expenses.
Newborn care:
Maternity insurance covers the expenses of a newborn baby up to 90 days from birth. It covers vaccination and any health complications of the baby.
Check the above pointers with your insurer when buying a maternity health insurance policy. You must always read the policy terms and conditions to benefit the most of your plan. Also, read about women health insurance policies.
