Know About Maternity Health Insurance and its Important Terms

Bringing a new life to the world is a joy immeasurable. Women undergo the most crucial transition phase of their lives with motherhood, both physically and mentally. 

With all this excitement and anxiety, there also remains a shadow of huge medical bills, hospitalisation expenses, etc. Women need constant medical attention and care during pregnancy, starting from monthly tests to up to baby’s vaccination. A maternity health insurance plan in India can provide financial coverage against these piling expenses adequately.  

While normal delivery can cost anywhere between Rs. 60,000 and Rs. 2 Lakh, the caesarean procedure goes even higher. You can buy an insurance policy with a higher sum assured and relieve you from financial woes strategically. 

The advantages and terms of a maternity cover 

A maternity insurance policy is designed exclusively for pregnant women to cover all prenatal and postnatal expenditures. Some plans also offer cover cost of post-delivery care and vaccination of the new-born under its terms. 

Usually, such an insurance plan comes with the following benefits –

  • New-born coverage

Several policies cover the new-born against any financial obligations arising due to a critical illness or congenital disease. 

  • Hospitalisation expenses 

You can also enjoy coverage against pre-hospitalisation charges for certain months while post-hospitalisation costs are covered up to 60 months after discharge. A policy may also cover related costs, including surgeon/doctor consultation charges, nursing charges, room charges, etc. 

  • Ambulance cost 

This health insurance plan also covers ambulance charges during a medical emergency.

  • Simple application online 

You can easily apply for such insurance plans through online applications available on the insurer’s official website. 

  • Cashless facility  

Look for the best maternity health insurance plan in India that offers cashless facilities. It allows you to enjoy medical benefits without paying the treatment costs if you approach any of the insurer’s network hospitals. With a single point of contact, it offers fast claim settlement for all the non-network hospitals.  

  • Exclusive tax benefits  

Under Section 80D of the IT Act of India, policyholders are eligible for tax-saving benefits of up to Rs. 60,000. 

  • Bonus on claim-free year 

In a claim-free year, insurers offer cumulative bonus benefit up to a certain percentage. 

Some additional points to note 

  1. Several expenses are also excluded from a maternity health insurance plan like diagnostics tests, regular check-ups, vitamin expenses, etc. Make sure to go through your insurer’s terms and conditions before applying.    
  2. It is always wise to purchase a maternity cover in advance as most policies come with a waiting period of 2 – 6 years. As you need to wait for the policy’s commencement, plan and purchase the policy well ahead in time.  
  3. Insurance companies bring different related products like pregnancy complications cover, critical illness cover, etc. You can buy the plans as per your requirements and terms. 

Things to know before availing an insurance plan 

When purchasing a pregnancy cover, ensure to check the following points –

  • If there are any add-on features with the policy.
  • Inclusions and exclusions of the plan.
  • If any medical test is needed before the insurance scheme’s acceptance. 
  • The procedure to claim the benefits.    

Bajaj Finserv, one of the well-known financial companies, offers health insurance plans. With high sum assured and nominal premium, it provides comprehensive coverage to avail the best medical facility before and after delivery.   

Welcoming a new life to the world is an overwhelming experience for both parents and family members. However, the responsibility that comes along is even huge and for the lifetime. 

As medical costs are increasing consistently, it is essential to make financial planning in advance. A maternity health insurance policy not only covers the planned costs but also safeguards you against unexpected expenses efficiently.