Planning to have a kid? Ensure you get the right maternity insurance plan

Tread carefully while buying a health insurance policy with maternity benefits

Selecting a health insurance plan that adequately covers maternity expenses is a crucial decision for couples. The journey towards parenthood comes with its own set of joys and challenges, and having a well thought-out maternity cover can significantly ease the financial burden associated with prenatal, delivery, and post-natal care.

When it comes to maternity cover, planning and starting early is the key. Since all maternity covers come with a pre-defined waiting period, the decision to purchase a health insurance plan with the right maternity plan should go hand-in-hand with the couple’s family planning to ensure that maternity cover is available when they need it.

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One must keep these points in mind while deciding on maternity cover:

Are alternative reproductive treatments covered?

Given our current lifestyle and stress, an increasing percentage of couples nowadays need to go for alternative reproductive treatments such as IVF or  surrogacy, which is often a very costly proposition. Having a health insurance plan that covers these alternative reproductive treatments as well would save couples from this unexpected and unplanned expense.

Will surrogacy and adoption be covered?

Many couples have started opting for surrogacy and adoption. While most maternity cover only pays for deliveries, a maternity cover that also covers expenses related to surrogacy and adoption would be useful.

Comprehensive maternity cover

Most maternity health insurance plans only cover deliveries. One should ensure that the plan covers pre-natal check-ups, hospitalisation, and delivery costs. Look for plans that go beyond the basics and provide a holistic approach to maternity healthcare.

Also read: Moneycontrol-SecureNow Health Insurance Ratings: How to pick the most suitable policy 

Maternity cover over sum insured

Maternity benefits are included in the overall sum insured in the case of most plans available in the market. However, some plans offer this coverage over and above the basic sum assured.

Hospital network

Check if maternity clinics and hospitals are part of your insurer’s network hospitals. Look for health insurance plans that have tie-ups with reputable hospitals and maternity clinics. Having access to a network of hospitals can streamline the admission process and provide a more comfortable experience during pregnancy and childbirth.

Waiting period

Be mindful of waiting periods and policy terms associated with maternity coverage. A waiting period is the time after a policy is bought when the insurance company does not reimburse hospital bills.

If you wish to have a child after say, a year, and you buy a policy currently that has a waiting period of say, four years, then your maternity won’t be covered at that point in time. All plans have waiting periods before one can avail of maternity benefits. Some plans have specific terms related to the number of pregnancies that can be covered.

Coverage for babies

Some health insurance plans offer coverage for the newly born immediately after birth. Check if your policy includes this feature as it can be valuable in covering the initial medical expenses for your baby.

Easy to understand policy wording

Look for maternity cover with transparent policy terms, clearly outlining the waiting period, the policy duration, and any specific conditions related to maternity benefits. The best plans are upfront about their terms, helping you make decisions with confidence.

Some maternity covers come with added benefits such as postnatal support, newborn care, and wellness programmes. Explore plans that offer these additional perks, enhancing the overall value of your maternity cover.

Thoroughly review the exclusions and limitations of each maternity cover plan. Familiarise yourself with specific conditions or situations that may not be covered. This knowledge ensures that you are aware of the extent of your coverage and can plan accordingly.

Make the right choice

Selecting the right maternity cover involves careful consideration of waiting periods, coverage limits, network hospitals, and additional benefits. By planning ahead and thoroughly reviewing policy details, you can secure a health insurance plan that provides comprehensive coverage during the exciting journey of pregnancy and beyond.

Remember, the right maternity cover not only safeguards your financial well-being but also ensures a smooth and worry-free pregnancy experience.