Maternity insurance: Here’s all you need to know

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Not all health insurance plans cover maternity expenses. This is because only a few of them has it as an in-built feature. It is generally seen as an expense that is bound to happen in future and therefore many insurers do not cover the maternity cost in their policies. If they do the premium rates are usually very high. But experts say it is beneficial for people who are getting married or planning a family to ensure that their maternity journey becomes smooth and financially burden-free.

“There are several excellent plans available in the market which are designed ensuring maternity as one of the prime benefits. These plans offer coverage for delivery and other medical expenses such as nursing, room charges anesthetist charges and surgeon fees. Moreover, the maternity benefit covers the treatment taken for complications in the pregnancy or medically necessary termination, in case required,” said Naval Goel, founder and CEO, PolicyX. 

Hence, if you wondering about the other fine prints, here are a few things you should know before buying a maternity cover:

— Maternity insurance cover covers delivery charges (both normal and cesarean), room charges, nursing, doctor consultation, surgeon fees, among others.

—  Maternity plans not only cover delivery charges, but they also cover a newborn up to 90 days from the date of birth in case of any medical complications.

— These plans generally have a cap on the sum insured offered. Before buying a policy, check how much maximum amount the insurer will pay in case of a claim.

— Maternity plans come with a waiting period, which can be anywhere ranging between 9 months to four years. Given the waiting period, it is beneficial for a young woman or for a newly married couple who soon plan to have a baby.

— Importantly, maternity insurance is available in female individual plans and is not offered in male individual plans.

— The premium in a maternity insurance policy is relatively higher than a regular health plan because of the certainty of a claim being filed.

— The premium cost increases as one grows old. Therefore, do a cost-benefit analysis before going for such policies.