What are the Advantages of Maternity Insurance Policies?

For a mom-to-be, the entire journey is a wonderful yet life-changing experience. Along with the joy and excitement of pregnancy, various health-related concerns may also arise which must be taken care of early. One of the avenues to make certain that you have a smooth pregnancy journey is by having maternity health insurance coverage. Maternity health insurance policies provide expectant mothers with financial protection and peace of mind during this key phase of their lives. With the ease of purchase in buying health insurance online, finding a maternity coverage based on your needs is not so difficult.

In this blog, we will talk about the major advantages of buying a maternity insurance plan, why you need to invest in such a policy, and what factors you should keep in mind while buying maternity health insurance coverage. 

What are the advantages of maternity health insurance

Maternity health insurance provides comprehensive coverage for various medical expenses related to pregnancy, childbirth, and post-natal care. Here are some benefits of maternity health insurance:

• Maternity-related hospitalisation expenses:Maternity health insurance typically covers expenses related to hospitalisation during pregnancy, childbirth, and post-natal care. These include room charges, doctor’s fees, medical tests, etc. This coverage ensures that the expectant mother receives quality health care without worrying about the financial burden.
• Pre- and post-natal consultations:Maternity health insurance may also cover pre- and post-natal consultations with doctors, gynaecologists, and other specialists to ensure that the mother and baby receive proper medical care throughout the pregnancy journey.
• Medication and vaccinations:These policies may cover the cost of medications, vaccinations, and supplements essential for the mother’s and baby’s health and well-being.
• Complications or emergencies:Such policies may provide coverage for any unexpected complications or emergencies that may arise during pregnancy, childbirth, or post-natal care, ensuring that the mother and the baby receive timely medical attention.
• Newborn coverage:Some maternity health insurance policies may also offer coverage for newborns, including vaccinations and medical care for the first few months after birth. Generally, the standard health insurance plans do not provide coverage to babies until they are 90 days old. However, maternity insurance plans cover them from Day 1 of their birth.

What is the need for maternity health insurance?

If you’re still in two minds, some reasons to think about buying a maternity health insurance plan are listed below.

• Protects the health of expectant mothers:Maternity insurance plans provide coverage for prenatal care, childbirth, and postpartum care, ensuring that expecting mothers can access necessary medical services and receive quality healthcare during pregnancy and childbirth. This is key for the healthiness and well-being of the soon-to-be mother and the baby.
• Support for healthcare costs:Maternity-related medical expenses can be considerably high, including prenatal visits, ultrasound scans, delivery costs, and postpartum care. A maternity health plan helps manage these costs by providing coverage for such expenses, reducing the financial burden on the expectant mother and her family.
• Access to network hospitals: These plans often have a network of healthcare providers, including obstetricians, gynaecologists, and paediatricians, who specialise in maternal and neonatal care. A health insurance plan which has maternity coverage can help you access these specialised healthcare providers, ensuring you receive appropriate care throughout your pregnancy.
• Offers tax benefits: Such plans can offer tax benefits under Section 80D of the Income Tax Act. This can help reduce the overall tax liability of the insured individual and provide additional financial incentives to opt for a maternity health insurance plan.

Factors to think about before buying maternity health insurance

If you are planning to buy maternity health coverage, consider the following factors before finalising the plan.

• Coverage:Review the coverage limit of the policy and make sure it covers the anticipated expenses during pregnancy, including hospitalisation, delivery, and post-natal care.
• Online accessibility: Many insurance providers offer policies that can be easily purchased online. You can compare different policies, review the coverage, and go for the one that best suits your requirements and budget, all from the comfort of your home. Buying health insurance online lets you quickly fill out the required forms, submit necessary documents, and pay the premium.
• Waiting period:Understand the waiting period for maternity coverage. Some policies may have a waiting period of several months or years before the coverage becomes effective. Opt for a plan with a shorter waiting period if possible.
• Premiums:Compare the premiums of different maternity insurance policies to find a plan that matches your budget. Keep in mind that cheaper premiums may not always provide adequate coverage, so strike a balance between affordability and coverage.
• Claim process:Review the claim process of the insurance provider, including documentation requirements, timelines, and customer support, to ensure a smooth and hassle-free claim settlement experience.
• Reputation of insurance provider:Research the reputation of the insurance provider, including their customer reviews, ratings, and overall market reputation, to ensure reliability and trustworthiness. Also, consider the quality of customer service the insurer offers, including responsiveness, accessibility, and support, to ensure a smooth experience throughout the policy term.
• Claim settlement ratio: Opt for an insurer with a high health insurance claim settlement ratio, as this indicates the company’s promptness and reliability in settling claims. A higher health insurance claim settlement ratio means the insurer has a satisfactory record of settling claims on time. It also reflects the transparency of the insurance provider in dealing with claims.

Conclusion

Maternity health insurance plans offer financial protection and access to necessary healthcare services to expectant mothers during this crucial period of their lives. Invest in one that meets your requirements as well as your budget.