Here’s How You Can Find the Best Health Insurance Policy with Maternity Coverage

Becoming a parent is a crucial turning point in life. It changes your life in more than one way. Most importantly, there are substantial financial consequences of bringing a child into this world. Hence, it is important to have an effective financial plan in place with a suitable pregnancy coverage health insurance.

Pregnancy cover health insurance is specifically designed to cover all maternity-related expenses. If you have a health plan in place already in place, you can include this benefit so that when the time comes, the policy can cover and take care of all of your maternity expenses. This includes expenses for the delivery of a baby and/or treatment-related to any complications in the pregnancy.

Let’s understand how pregnancy cover health insurance works in detail so you can make a wise decision.

What is Pregnancy Coverage Health Insurance?

Pregnancy coverage health insurance covers all of the costs related with the birth of a child for a specific duration. You can purchase it as a stand-alone policy or as an add-on health insurance policy with pregnancy coverage for an additional price.

Pregnancy coverage health insurance policies must include the following benefits, according to IRDAI:

  • Pre- and post-hospitalization fees for maternity-related reasons will be paid for upto a specified duration mentioned in the policy. This includes the cost of the room, anaesthetic consultations, medical practitioner fees, nurse and surgeon and emergency ambulance fees.
  • Pre- and post-natal expenditures, as well as regular and caesarean deliveries, are included, as are any post-delivery difficulties for the mother.
  • Pregnancy coverage health insurance give coverage for newborn babies or neonatal care from the first day for up to a predetermined duration. Such maternity health insurance policies claim to cover all of a newborn’s needs, but it’s critical to find out how your insurer handles complex deliveries or early labour.

Here are the benefits of buying maternity coverage:

  1. Comprehensive Coverage

A good maternity health insurance coverage will cover delivery, pre- and post-hospitalization expenses, as well as ambulance services, medicines, hospital room rent, and doctor consultation fees.   

  • Cashless Facility

Leading insurance firms offer cashless maternity health insurance policies at their network of authorized facilities in India.

  • Claim-Free Bonus

If the policyholder does not file any claims during a given policy year, the policyholder will receive a discount on the following year’s premium. Quick and easy online application – Maternity health insurance policies provide individuals with the ease of applying online with only a few clicks.

  • Sum Insured Flexibility

When acquiring a pregnancy cover health insurance policy, individuals can determine the amount of coverage they want to receive for maternity expenses if the need arises.         

  • Tax Benefits

Maternity health insurance policies are eligible for tax benefits under Section 80D of the Income Tax Act of 1961. Waiting period — Maternity-related expenses are normally covered by maternity health insurance policies after a waiting period of 9 months to six policy years.

Exclusions in Pregnancy Coverage Health Insurance

While having maternity insurance has numerous advantages, there are a few things that it does not cover such as:

  • Pre-existing diseases such as high blood pressure or epilepsy will not be covered under pregnancy coverage health insurance
  • Maternity insurance does not cover IVF or other infertility therapies.
  • Prescription medications prescribed by your doctor may be reimbursed by your maternity insurance. However, you may want to check your policy document for coverage of supplements since they are not usually covered.
  • Non-allopathic medications aren’t covered either.
  • While you may see your OB-GYN on a regular basis during your pregnancy, these visits are not covered by maternity insurance.

Hence, it is important to go through the policy document carefully and choose a trusted insurance provider who you can rely on during the most crucial moments of your life.

Leave a comment