The Myth Behind Maternity Insurance
How many times have you thought to yourself that you don’t need a health insurance plan yet because you are young and healthy? How many times have you wondered whether purchasing a maternity insurance plan is even the right step for you or not?
All of us often come across a lot of doubts and questions when it comes to finding health insurance with maternity cover. From having trouble finding the right maternity health insurance to wondering if it is worth it to even look at maternity insurance plans, you must have faced a lot of questions.
It is true that different people have different opinions about maternity insurance coverage plans. And it is also smart to have those opinions and question things. But this exercise is of no use if you are unable to find the right answers to questions related to maternity insurance coverage with no waiting period.
Because of these reasons, we have decided to help you out by debunking some of the biggest myths behind maternity insurance policies.
Most Common Myths Related to Maternity Insurance Policy in India
Some of the most common myths that float around in relation to a maternity insurance policy without a waiting period are discussed below.
Myth 1: I’m young and healthy. So, I don’t really need maternity insurance in India
This is one of the most common myths that exist in regards to health insurance with maternity benefits. Irrespective of your age, the cost of high-quality healthcare is becoming harder to meet and afford. This is why one must invest in a good-quality maternity insurance policy. The only advantage here is that the premium amount for people at an early age is very affordable as compared to someone older.
Myth 2: Maternity Benefits are Provided from Day 1
One of the most common maternity insurance myths related to health insurance policies with maternity benefits is that the maternity benefit is provided from day 1. This is not entirely true as there is often a waiting period that is applicable for an individual before he or she can avail of maternity benefits.
At the same time, one should remember that not every maternity insurance works in the same way. There are also some maternity insurance policies that do not have a waiting period. However, it is still recommended that one should invest in a maternity health insurance policy before becoming pregnant. This will ensure that you get more benefits from your policy.
Myth 3: I have a corporate plan for me and my family. And that is enough.
There are organizations that provide their employees with corporate health insurance policies. However, that doesn’t mean that the coverage of those health insurance policies is enough.
You should still invest in a good health insurance policy with maternity benefits. This way you will not be caught off guard with the number of bills that you would have to pay at the hospital at the time of the delivery of the child.
Myth 4: If you break the insurance contract, you will lose all the benefits
It is true that a policyholder should review his or her entire policy at the time of purchase and renew it without fail before it expires. However, if one fails to do that, then there is also a specific grace period that one can fall back on. This grace period can range from a total of 30 days to almost two months depending on the policies of the insurance provider.
Myth 5: I don’t have to declare all my pre-existing diseases at the time of purchase
This is a completely wrong mindset that can backfire in the future. When you are filling out the application for maternity health insurance, you should be as honest as possible and disclose all the required details. This way at the most you might be required to pay a higher premium amount. However, you won’t be drawn into a legal battle over fraud in the future and you can always be ensured that your claim requests will process smoothly
Myth 6: A minimum of twenty-four hours of hospitalization is required for making a claim
It was true earlier that one was required to be hospitalized for a minimum of twenty-four hours before making a claim request. However, this is not true anymore. Medical science has changed and evolved a lot in the last few years. There are thousands of treatments that can be done within a few hours now. Because of this, claim requests for hospitalizations of less than twenty-four hours are also processed and approved by insurance providers now.
Myth 7: Having a large number of network hospitals is extremely important
It is true that having a large number of network hospitals is good. However, you should not forget that insurance providers often focus on having a wide network of hospitals. This list of network hospitals can also change from one year to the next. This is why having a large number of network hospitals around your location should not be a very important consideration when you are purchasing a maternity insurance plan.
Myth 8: I need to buy a separate maternity health insurance as no health insurance provides maternity coverage
It is true that many people prefer to purchase separate maternity health insurance. But it is not true that there are no health insurance policies that provide maternity coverage. Instead, there are some insurance providers that provide excellent maternity coverage to their policyholders. This is why if you already have a health insurance policy, then you should check out the maternity cover of the same policy before looking at other maternity insurance policies.
Myth 9: Maternity health insurance will pay for the entire hospital bill
This sounds very true. However, it is not. It should be noted that the amount of coverage provided in maternity health insurance will differ from one policy to another. The better the cover, the higher will be the coverage offered to the policyholders during their time of need.
These are some of the most common myths related to maternity health insurance plans that we have debunked today. Was any of this helpful for you? Have you been able to get rid of some of the misconceptions that you held earlier related to maternity health insurance policies?