From the minute you conceive, it is important to start planning your finances as a pregnancy and delivery incurs a huge expense in today’s time. It is recommended to do a comprehensive study about the amount of money you will be spending on your regular doctor visits, medicines, delivery and baby care later. A back up plan for these expenses are the need of the hour. Keeping all these expenses in consideration, the Indian government has come up with a host of health insurance plans to make things easier and hassle free.
Before zeroing in on any health insurance plan, it is a good idea to know the coverage of it. Depending upon that, you can go ahead and take a decision. In general, most of the maternity benefit plans cover the below features:
Pre hospitalization expenses are covered 30 days before delivery and post hospitalization expenses are covered up to 60 days.
The benefits include the cost of a normal or cesarean delivery and it also covers any additional costs which are incurred in case of any post- delivery complication.
which includes the room charge, nurse and surgeon charge, anesthetist consultation charges and other charges like medical practitioners and any ambulance charge.
If an infant is diagnosed with a congenital disease or a critical illness, the health insurance plan covers this as well from Day 1 to Day 90 of the child’s birth.
This plan by Royal Sundaram General Insurance is a total insurance package which offers benefits up to Rs 30,000-Rs 50,000. It covers maternity hospitalization and any complications which arise before or after delivery. But, one can avail the maternity benefit after a waiting period of 3 years. So, plan for our pregnancy keeping in mind the waiting time to be eligible for the benefits of this plan.
Standard, Exclusive and Premium. The standard plan is a normal insurance plan with a limited amount of benefits. Whereas, the exclusive and premium plans offer maternity and new born coverage. The exclusive and premium option covers maternity expenses that incur both before and after child birth and new born baby expenses from age 1-90 days.
This plan is one of the best plans as it provides coverage for maternity and new born in all the three plan types - silver, gold and platinum. In this plan, there is maternity coverage and new born baby care including first year vaccinations. All the three types of sub-plans offer maternity benefits for two deliveries. The only clause is that the policyholder and spouse have to be covered under the policy for two continuous years.
Cigna TTK Health Insurance offers maternity, new born expenses and vaccination cover. The maximum health cover of this plan is Rs 10 lakh. This plan provides coverage up to Rs 15000 for normal delivery and Rs 25000 for a caesarean delivery. The benefit of this plan can be available only after 48 months of waiting period. It also covers the first year vaccinations expenses for your new born.
This maternity plan offered by Star Health offers coverage for maximum up to two deliveries. This plan provides coverage for both types of delivery - normal and caesarean and it also includes pre and post-natal expenses. The plan also includes any post-delivery complication expenses for the mother post child birth. The clause is a waiting period of 3 years and the policy also provides coverage for new born expenses. The maximum amount which is covered is Rs. 10 lakhs.
It is a great idea to seek maternity coverage before you conceive. Many insurance companies will deny cover if you are already pregnant. As per insurance companies such cases as termed as pre-existing cases. Also, maternity policies have a waiting period of 3 to 4 years before a person can avail the benefits. So, it is better to plan well in advance to get covered and avail the advantages of a maternity insurance plan.
It is always a good option to keep all your documents in place. The document checklist for a maternity insurance are:
There are a number of things that you need to keep in mind about maternity insurance plans as these plans have their limitations too. There are certain conditions which are not covered under these claims.
Insurance plans have become a very important investment nowadays when the hospital expenses are souring through the skies. The plus point is that there are many plans in the market nowadays which offers both cashless and non-cashless payment options. Select the best plan after thoroughly going through and plan everything well in advance to cover your maternity expenses in a hassle free manner.