What is a Maternity Health Insurance Plan?
The maternity insurance plan covers all delivery-related expenses up to a specific limit during the policy terms. Various companies cover different expenses under the same policy; some insurance policies cover post and prenatal expenses. To make the pregnancy process stress-free, you can buy a maternity health insurance plan. In pregnancy, a medical emergency can empty your bank account in seconds and cause lots of stress. You can also add maternity coverage to your regular health insurance plan.
Few companies offer their women employees the benefit of maternity insurance and a health insurance policy. Maternity health insurance offers advantages such as pre- and post-hospitalization, where pre-hospitalization costs up to 30 days before admission is covered. Thorough research on inclusions and exclusions of maternity insurance is necessary to make financial decisions and ensure optimal utilization of the insurance plan.
Maternity Expenses on the Rise in India
An increase in the risk of infections to a newborn baby increase, and the expense of maternity is also increasing. If you don’t have maternity insurance plans, it’s common to feel stressed about the expenses. Having individual health insurance with maternity coverage helps you to cover most of your expenses during delivery. Under health insurance with maternity cover, you get many benefits like early coverage on children’s medications and well-being.
- The cost of delivering a baby in India ranges from Rs. 50,000 to Rs. 70,000 on average.
- In urban cities of India, the cost of C-section deliveries is increasing, reaching up to 2 lakhs.
- Many couples in India are fearful about parenthood due to the financial responsibilities that come with it.
What's excellent about MyPolicyExpress Maternity health insurance?
MyPolicyExpress life insurance provides some of the best maternity health insurance policies that easily fit your budget and cover most of your expenses.
Covers for child-Delivery Expenses
Our maternity insurance policy covers hospitalization charges for all pregnancy-related complications, delivery, labour, and c-section operations.
Infertility Expenses Covered
Our maternity insurance extends its coverage beyond pregnancy; we also cover infertility-related treatment.
Newborn Baby Cover Included
Advantages of our insurance include a newborn baby cover; the baby enjoys the coverage advantages for the initial three months after birth. This includes any vaccinations and medical issues as well.
Medically Necessary Pregnancy Terminations
If a medically necessary pregnancy termination is needed, your maternity benefits cover will have your back. With health insurance that includes maternity coverage, you get the leverage of being financially free at the crucial time of your life.
200% Sum Insured for Second Child
As a sign of gratitude, we offer up to a 200% increase in your maternity Sum Insured for your second child to our existing MyPolicyExpress customers.
What's Covered in Health Insurance with maternity cover by MyPolicyExpress insurance?
Deliver and Labour Expenses
All medical expenses related to delivering a baby are covered for up to two deliveries.
C-Section
Cesarean section, commonly known as C-section, is when doctors use surgery to deliver babies under maternity benefits. This feature comes into action when a vaginal delivery is not taking place, and doctors use another complex method.
Hospital and room rent
All expenses are covered, including hospitalization and room rent charged during the baby's delivery.
Infertility Treatment
In addition to maternity expenses, we also cover infertility treatments and have opted for this cover. Within health insurance maternity coverage, you get extra added benefits for pregnancy-related problems like infertility, etc.
Pregnancy Complications
Pregnancy complications are common for women, and this cover covers all the expenses related to pregnancy complications. The company's policy considers all the complications related to expenses under maternity benefit coverage.
Medical Necessary Terminations
Coverage includes all medically necessary treatments and legal terminations. There's no limit to the number of terminations, like deliveries.
Newborn Baby Cover
The maternity benefit covered in individual health insurance with maternity coverage plan is limited to delivery of the baby and ensures the newborn baby for up to the first 90 days.
What was not covered by the maternity insurance plan?
Here’s the list of expenses not covered under the maternity insurance plan. Before applying for maternity insurance, it’s advisable to take these terms and conditions into consideration.
- Expenses that arise due to the storage of stem cells and harvesting when carried out as a preventive measure against possible future illness.
- Medical expenses will be covered outside of the maternity benefits covered for ectopic pregnancy. You can claim them under hospitalization expenses of your health insurance with maternity coverage.
- Pre and postnatal medical expenses come under the maternity insurance plan unless hospitalization. Under health insurance with maternity cover, you get all medical expenses covered.
How to file a claim?
Cashless Claim
Easily, you can opt for this if you wish to get treated in hospitals that have cashless systems. You can present your e-health card at the hospitals and request the cashless form. If all is good, your claim will be processed immediately.
Reimbursement Claim
You have the freedom to select the hospital of your preference for reimbursement purposes. Within two days of hospitalization, you can let us know about the maternity emergency, and we will pay all the bills and requirements. You can upload your hospital bills online, and we'll settle all your expenses, providing you with the final report.
Documents required to claim Pregnancy Insurance Policy
To claim the cover of your maternity insurance you need to have the following details.
Who can benefit from a Maternity Cover?
If they meet the following criteria, you can get the benefit from the maternity add-on cover in their health insurance plan.
- If you have chosen the cover option while buying the health insurance or have included it later.
- If you have completed a waiting period of two years, you become eligible to claim and avail the benefits of this cover.
- If you’re married and below the age of 40 years.
- If the cover hasn’t been utilized for two children previously.
- If you’re planning for a stress-free start to parenthood in the upcoming years.
- Applying for a maternity health insurance plan is strongly recommended.
Please note that this list is not comprehensive and serves as an indication only. Various critical illness insurance policies provide coverage for different critical illnesses.
Documents Required to Apply for Pregnancy Insurance
Below are some essential documents necessary for Maternity insurance:
- Proof of Address (PoA): Electricity Bill, Ration Card, Driving Licence, etc.
- Proof of Identity (PoI)
- Medical check-up for policyholders aged 45 years and above.
- Passport-sized photographs.
Maternity Insurance is Best for People
Health insurance plans offering maternity benefits are advantageous for individuals who meet the following criteria:
- It’s advantageous for married couples who plan to have babies for at least the next two to three years.
- It’s advantageous for couples planning to get married soon and have a baby in the next three to two years.
- It’s beneficial for people with one child who plan to have their next child within the next two to three years.
- It is beneficial for people who aren’t planning for a child anytime soon but would like to be safe.
If you are following the given category, you can take maximum advantage of the maternity health insurance policy. Maternity health insurance is best for people who are newly married and planning to start a family. The insurance provides mental peace for the couple during their early parenthood. You should take this insurance as soon as possible to get the maximum coverage during your early pregnancy stages.
What makes Maternity Benefits so crucial for young couples?
Maternity insurance helps couples in saving a lot of money during their early parenthood stage. It provides the benefits of covering financial expenditure during pregnancy and the birth process of a child. Below are some of the benefits which make maternity health insurance so beneficial for young couples.
Financial Security
You can be financially secure during life's most critical and sensitive stage. It provides support by securing the crucial stage of pregnancy with financial coverage. Maternity health insurance ensures minimal expenditure from your savings and offers peace of mind during life's most crucial phase.
Relaxing Onset to Parenthood
Maternity insurance provides benefits that cover most of the expenses during the delivery and covers your newborn baby up to its first three months. It makes sure that you can relax, recover, and relish the beginning of your new journey of life. Maternity health insurance plans cover the baby's expenditure for their early stages and cover them until they grow older.
Valuable Long-Term Benefits
You get a benefit from increasing expenditure by up to 200% for your second child. As part of our health insurance policy, we provide coverage for maternity benefits. If the first child uses the maternity benefits, the second child receives 200%. Health insurance plans that include maternity benefits play a big role in making sure your child has a good start in life and you have support in your early days as a parent.
Cover Against Medically Necessary Terminations
You also have the option to terminate the pregnancy in case of an emergency medically. The maternity coverage includes medically lawful and necessary terminations of pregnancies.
Peace of Mind
When you are covered financially, you can relax and enjoy being a parent. Maternity insurance helps you feel less worried and more relaxed in your mind.
What are the features and benefits of a Maternity health insurance plan?
Maternity health insurance has many benefits and features that incline you toward buying an insurance policy. Some of its benefits are:
Comprehensive Coverage
Health insurance with maternity covers delivery, medicines, hospital stays, and more.
Newborn Care
Newborns diagnosed with critical illnesses are also covered under maternity insurance. Maternity coverage includes healthcare benefits for newborns during their initial months.
Easy Online Application
You can easily get a maternity health insurance plan from the comfort of your home.
Ambulance charges
Ambulance charges are also covered by maternity health insurance under this plan.
Hospitalization Coverage
Any pregnancy-related expenses that occurred 30 days prior and 60 days post-hospitalization come under the plan.
Cashless Facility
Maternity coverage offers a cashless facility at dedicated hospitals for policyholders.
Quick Claim Settlement
Get your claims settled quickly with a single point of contact for treatments received at hospitals not in the network.
Claim-free Bonus
Earn a 10% cumulative bonus for every claim-free year. Maternity coverage includes a claim-free bonus and a potential increase in your insurance policy.
Tax Savings
You get a free exemption of up to Rs 60,000 under section 80 D Income-tax act, 1991. Maternity health insurance plans offer extensive coverage to keep you stress-free during your first pregnancy.
How is Maternity Health Insurance different from other Insurance Policies?
Maternity health insurance plans usually take care of the majority of expenses associated with a woman’s pregnancy. Certain health insurance policies offer the added advantage of including maternity health coverage alongside your normal health insurance. Finding maternity health insurance without a waiting period can be challenging, so it’s advisable to apply for insurance before planning for a baby. A distinct aspect of maternity health insurance is that you can’t apply for it once you’re already pregnant. If you just got married and looking for stress-free parenthood, you should apply for maternity health insurance. Maternity health insurance covers all the expenses related to the delivery of the child and their conditioning for the first three months.
Maternity health insurance covers all the expenses related to the delivery of the child and their conditioning for the first three months. This cover is available for C-sections as well as normal deliveries.
Health insurance with maternity coverage offers unlimited benefits and covers most of your early parenthood expenses. The premium of maternity health insurance increases as you grow older, also, pregnancy-related costs are increasing every day.
Among several maternity health insurance plans, you should choose the one which takes minimum waiting time and provides you maximum cover. MyPolicyExpress provides some of the most attractive insurance plans which you can easily apply.
Why should I opt for Maternity Insurance Cover?
With the rise in healthcare costs, the medical expenses of delivering a newborn baby are increasing day by day. When there is a Cesarean section or C-section, complications in delivery are involved. Choosing a maternity benefit within your health insurance plan would make things easier for you and your spouse by decreasing your financial burden and ensuring that everything from birth to the first 3 months of your child is unique. You can start your early parenthood in a stress-free environment without the stress of financial expenses.
A parent’s top priority is their child’s health. Maternity insurance provides you with the leverage of being free when you are a parent. It is a special moment for every couple, and you don’t want to waste this crucial time by thinking about money and financial expenses. Under health insurance with maternity, which covers most of the health expenditures, you get the added benefit of hospitalization. You can easily get a maternity health insurance plan from the comfort of your home.
What's the Right Time to seek?
Maternity changes a woman’s life in many ways. Due to increasing medical costs and overall expenditures, childbirth-related expenses are becoming expensive. Without proper planning in this crucial phase can destroy your mental peace and override the happiness of being blessed with a child. You should plan well in advance because maternity health insurance policies generally have a long waiting period, which may prove to be tricky for most consumers. Maternity health insurance plans cover most of the expenditures that can cost you a lot during the pregnancy stages and delivery of a child.
Most of the insurance companies do not provide maternity health insurance to pregnant women already. Considering it as a pre-existing condition, you can take necessary precautions in advance. It’s important to know that the majority of maternity health insurance policies come with a waiting period of three to four years at least. Maintaining maternity health is a crucial part of a planned pregnancy.
Conclusion
A maternity health insurance is like a friend in the early stages of parenthood. It aids in achieving financial freedom during this important stage of life. Maternity health insurance pays for both normal and c-section deliveries. It also covers a baby’s expenses for the first three months of life. Comprehensive maternity insurance allows you to access the best healthcare facilities without facing any financial burden. You can easily apply for Maternity insurance by simply visiting the MyPolicyExpress website. The second option you have is adding the cover to your existing health insurance policy.