Pregnancy requires planning and financial independence. The couple needs to plan their finances to have a smooth maternity period. Several health insurance plans include pregnancy and other maternal benefits. It is a significant investment to get a maternity insurance policy while you are planning or expecting a family. Having a health insurance plan will shield you from the extravagant cost of childbirth.
Here is everything you need to know about maternity insurance policy
High Delivery Costs
It is crucial to have a maternity insurance policy since childbirth and delivery costs range from Rs 50,000 to Rs 1.5 lakh in India. The fees vary according to normal and cesarean deliveries. It is efficient to have health insurance to cover these costs.
Baby Health Care Coverage
Several maternity insurance policies has baby health care coverage. This helps to ease out the financial burden at a time when you are dealing with a massive change in family dynamics. Financial support enables you to cope better with the new changes which come along with the baby. The baby, health care coverage, includes vaccinations and initial check-ups for the newborn baby.
Every maternity insurance policy covers the following expenses around pregnancy:
- Pre-hospitalization and post hospitalization expenses
- Normal and C Section deliveries
- Room Rent and Other OPD expenses
- Health care expenses of the newborn baby
- Daycare procedures
- Vaccination for the newborn baby
- Ambulance expenses in case of emergencies
- Cashless treatment in-network hospitals
These facilities can vary depending on the type of health insurance plan you have. It also depends on your insurance company and the facilities they provide.
Treatments Not Covered in Maternity Insurance Policies
Several treatments are not covered in maternity health insurance plans. Some most common treatments are:
- Pre-existing ailments which might influence pregnancy
- Congenital diseases
- Infertility treatments
- Regular doctor check-ups and related expenses
- Medicine costs over the pregnancy term
- Self-inflicted injuries
Since these services are not included in the coverage, one should be aware of these while availing medical services.
All health insurance plans have a waiting period before the policyholder can avail of the benefits of the insurance plans. Most maternity insurance policies have a waiting period ranging from 9 months to 36 months.
Best Time to Get Maternity Insurance Policy
It is ideal for getting a maternity insurance policy at the time of marriage since it has to wait for a maximum of 3 years. Couples on an average take up to 2-3 years to plan a family, and that period works in alignment with the waiting period of the insurance.
This is everything you need to know about maternity insurance policies. Keep these points in mind while getting health insurance and make a well-informed decision about the same. Get a maternity insurance policy for your pregnancy and celebrate life stress-free!