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Definitive Guide to Health Insurance With Maternity Coverage

Maternity health insurance is a type of insurance coverage that provides protection to an individual related to childbirth. Under health insurance with maternity cover, the cost of hospitalization related to both normal and cesarean deliveries is covered.

It should be noted that the coverage of maternity health insurance is not limited to just childbirth. Instead, good maternity insurance plans also provide financial protection to a newborn baby up to a certain number of days after being born.

Why Do You Need Maternity Insurance Coverage?

Getting maternity insurance coverage with no waiting period will help an individual get peace of mind about financial costs related to childbirth. The cover comes with a low cost when bought as an add-on for an existing health insurance plan.

Maternity insurance policy cover can provide adequate financial coverage for delivery and hospitalization costs. Beyond all this, some reasons why you should consider buying a maternity insurance policy without a waiting period are:

  • Financial Coverage:

On average, the cost of delivery and childbirth can be as high as INR 50,000 to INR 1 lakh in some parts of India. This price is proportionate to the quality of healthcare services that one would receive.

This is why it is beneficial if an individual purchases a maternity insurance policy in India. Getting maternity insurance in India will make sure that financial security is provided to both the new mother and the child.

  • The Cost of Surgical Deliveries:

The cost of surgical or cesarean delivery is higher than the cost of childbirth through the natural process. This is because the more medical intervention is required when the child is born through the surgical method.

Covering these costs can be difficult for an individual. However, one will not have to worry about that if he or she already has health insurance with maternity coverage and no waiting period.

  • Peace:

Taking care of a child is not easy. There are going to be several challenges that will have to face down the line. This is why you should start with providing your child with the best quality medical services by opting for health insurance with maternity benefits. This will give you peace of mind and comfort like no other decision.

When Should I Get Mediclaim Policy With Maternity Coverage?

After everything that we have mentioned till now, you must have a clear idea regarding the fact that you do want to purchase a maternity insurance policy. However, the next question that you might have here is when is it the right time to purchase that policy?

Ideally, you should start looking for health insurance plans with maternity coverage in India as early as possible. You should also purchase the plan as soon as possible. An individual should remember that the earlier one buys the plan, the cheaper it will be.

If an individual already has a medical insurance policy, then he or she can simply get maternity insurance additional coverage. One should also remember that maternity insurance policies also come with a waiting period. This waiting period can vary from one insurer to the other. Hence, it is a good idea to purchase a maternity insurance plan as soon as you start planning to have a child.

Eligibility Criteria for Maternity Health Insurance

When it comes to purchasing a maternity insurance plan, then the eligibility criteria are not very extensive. The entry age for these plans is 18 years and the exit age is 45 years. Some insurance providers also have a cap on the number of maternity claims that one can make. In most cases, the maximum number of maternity claims that one can make is 2 claims. The only exception to this might be in the case of a loss.

Documents Required to Raise a Maternity Claim

If you already have a maternity insurance policy and you want to raise a claim request, then there are certain documents that you will need. Some of these documents are:

  • ID proof
  • Discharge summary
  • Claim form
  • Health insurance policy
  • In the case of a cashless claim, pre-authorization form
  • Prescriptions for medicine and other medical items
  • Any other document required by the insurance company

 

Coverages of Maternity Health Insurance

There are several claim benefits or coverages that are provided in a maternity health insurance policy. These coverages or claim benefits are:

  • Pre-hospitalization coverage
  • Post-hospitalization coverage
  • Hospitalization expenses
  • Cost of medically necessary termination of pregnancy in case of life-threatening conditions
  • Cost of normal deliveries
  • Cost of cesarean deliveries
  • Coverage for newborn baby
  • Coverage for vaccination like BCG, OPV, IPV, Hepatitis B-1, DTPw booster-1, DTPa booster-1, Hib, Measles, MMR-1, Typhoid, HPV, Tetanus Toxoid, Meningococcal

 

The Exclusions of Maternity Health Insurance Plans

There are certain exclusions that one cannot raise a claim against in a maternity health insurance policy. Some of these exclusions are:

  • Cost of infertility treatments
  • Costs of vitamins, tonics, or other related supplements
  • Expenses related to ectopic pregnancy
  • Claims raised during the waiting period
  • Claims are raised when the number of allowed claims have exceeded

 

It should also be noted that several insurance providers also provide their policyholders to opt for some additional covers at the time of purchase or renewal of the policy. These additional benefits provide coverage over the base plan and can also cover some of the exclusions that have been mentioned in the section here.

Tax Benefits

Till now we have discussed almost all the major concepts related to maternity coverage. The only thing remaining now is to look at the tax benefits of purchasing a maternity insurance plan.

According to several official sources, a maternity insurance plan can offer tax benefits of INR 25,000 in a single financial year. This amount can change depending on the current tax rules for the Indian taxpayers.

So, what are you waiting for now? You now know more about maternity health insurance than ever before! Go ahead and purchase the best maternity health insurance policy for you and your family.

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