Best Pregnancy Health Insurance Plans In India For 2022
Maternity is the most precious phase of one’s life, that makes the would-be parents flooded with various emotions. They start dreaming about their soon-to-be-born baby and how to raise him/her. However, to make all your dreams come true, you need solid financial planning. You may invest in a child education plan, but before that, it is more important to first buy a maternity insurance policy to meet the financial expenses incurred on the delivery and newborn baby expenses like vaccination.
Newly-weds or the ones trying family planning should consider buying health insurance with maternity cover to enjoy the arrival of their baby in the coming years without any financial burden on the mind.
Let us first talk about the various benefits of buying health insurance that covers pregnancy and then help you decide which one to buy in 2022 with the list of best maternity insurance plans.
Benefits of Maternity Health Insurance Plans
- Backup Plan for Maternity Financial Expenses: The first and foremost benefit of buying health insurance with maternity cover, is that it acts as a backup plan for all the financial burdens at the most beautiful time of your life, that is giving birth to your baby.
- Coverage for New-Born Baby Expenses: Many maternity insurance plans offer newborn baby coverage from the day the newborn baby is born.
- Cashless Hospitalization: With health insurance that covers pregnancy, there is no time wasted in arranging for the cash, as such plans offer cashless hospitalization.
- Tax Benefits: The policyholder gets tax deduction under Section 80D of the Income Tax Act on the premiums paid for health insurance plans with a maternity cover.
- No-Claim Bonus: In the case of a claim-free year, many insurance companies happily offer an increase in the sum insured in the following policy year.
- Flexible Sum Insured Options: Lastly, all the popular maternity insurance policies offer the insured a flexible option to choose the sum insured as per their budget.
Best Maternity Insurance Plans in India for 2022
- Aditya Birla Activ Health Enhanced Plan: This pregnancy insurance plan is available in two variants, including, the Platinum and Enhanced Plan. This maternity insurance plan offers a sum insured limit of Rs. 2 lakhs to Rs. 2 Crores. Besides, it also offers coverage for lawful termination of pregnancy.
- Bajaj Allianz Health Guard Gold Family Floater Plan: This is a perfect pregnancy insurance plan that offers coverage for maternity as well as for newborn baby expenses. This plan offers a sum insured ranging between Rs. 3 lakhs and Rs. 50 lakhs. The minimum and maximum entry age for this plan are 18 years and 65 years; 3 months and 30 years respectively for adults and children.
- Bharti AXA Smart Super Health Insurance Plan: Available in three variants, including the Uber Plan, Classic Plan, and the Value Plan, this health insurance offers coverage of Rs, 35,000 for maternity and Rs. 25,000 for newborn baby expenses. Extended coverage can be availed by purchasing the Classic and Uber plans that offer coverage of Rs. 50,000 and Rs. 75,000 respectively for maternity and newborn baby expenses.
- Care Health Insurance Joy Plan: Joy Plan is the maternity insurance policy offered by Care Health Insurance, formerly known as Religare Health Insurance. Under the Joy plan, you can choose any of its two variants, including Joy Today and Joy Tomorrow Plan, and can enjoy coverage for your maternity and newborn baby expenses.
- Cholamandalam Privilege Healthline Insurance Plan: This is a family floater plan offering maternity coverage after a waiting period of 5 years. It comes in two variants, including Superior Plan, and Advanced Plan. The former offers coverage of Rs. 15,000 for normal delivery, and Rs. 25,000 for a Caesarean delivery. Whereas, the latter offers Rs. 25,000 and Rs. 40,000 coverage for normal and Caesarean delivery respectively.
- Edelweiss Complete Health Insurance Policy: This plan comes in two variants, including, the Gold Health Insurance Option and the Platinum Health Insurance Option. The former offers a maternity coverage limit of up to Rs. 50,000, whereas, the latter offers the maternity coverage limit of up to Rs. 2,00,000.
- Magma HDI One Health Policy: When looking for perfect maternity insurance coverage, you may consider the Magma HDI One Health Policy that offers maternity coverage benefits of up to Rs. 1,00,000 under its Premium Variant.
- ManipalCigna ProHealth Insurance Plan: Under this plan, the insurer can avail of maternity benefits of up to Rs. 10,00,000 once the waiting period of 48 months gets over. It offers a maternity coverage of up to Rs. 15,000 and Rs. 25,000 for normal and Caesarean delivery respectively.
- Royal Sundaram Total Health Plus Plan: Total Health Plus is the health insurance that covers pregnancy expenses from the popular health insurance company Royal Sundaram General Insurance. Maternity benefits under this plan can be availed after completing a waiting period of 3 years.
- Universal Sompo Complete Health Insurance Plan: Last on our list of best maternity insurance plans is the Universal Sompo Complete Health Insurance Plan that comes in two variants, including the Essential and Privilege Variant. The former offers a coverage limit of Rs. 15,000 and Rs. 25,000 for normal delivery and Caesarean delivery respectively. While the latter offers a coverage limit of Rs. 25,000 and Rs. 50,000 for normal delivery and Caesarean delivery respectively.
With a plethora of options available in terms of maternity insurance plans, it may become a confusing task to pick the right one for yourself and your soon-to-be-born baby. So, make sure to compare the features and benefits of various pregnancy insurance plans to purchase the right one that offers both the maternity as well as the new-born baby expenses coverage with a minimum waiting period.
Can husband and wife both claim maternity insurance?
Both the husband and wife may be covered under the maternity insurance of their employers. Then, both the husband and wife can claim the same from the different insurance companies.
What is the waiting period for maternity insurance?
The waiting period plays a crucial role in any health insurance plan. It is the period after which you can avail the coverage as per your chosen health insurance plan. The standard waiting period for maternity insurance in many health insurance plans is between 9 months to 6 years.
Is there any maternity insurance without a waiting period?
Every health insurance policy comes with a waiting period. It is the period during which a policyholder cannot claim for any medical expenses. Different health insurance plans come with different waiting periods. There is no maternity insurance coverage without a waiting period. So, can choose a plan with a minimum waiting period to avail maternity coverage.
Can I claim 2 maternity insurance?
Yes, you can claim maternity benefits from two maternity insurance policies at a time. You can demand the leftover amount that is not claimed under the first maternity insurance from the second maternity insurance.
How does maternity insurance work?
Maternity insurance, as the name suggests is an insurance plan that offers coverage for your delivery. It involves both C-section delivery and normal delivery. Maternity insurance comes with a waiting period, after which it offers coverage for up to a pre-defined limit as per your plan at the time of your delivery.