Maternity Insurance Plan: A Boon to Protect Your Savings!
Published On Jan 27, 2021, Updated On Apr 26, 2021
Maternity is an important phase of life that everyone should be prepared to embrace. Though rearing a baby can be expensive but not if you plan finances accordingly. And when it comes to planning finances to welcome a new member in the family, having adequate health insurance cover can be of great help. It is thus recommended to buy a well-constructed maternity insurance policy that can help you ease off the pressure of rising healthcare expenses in India. A maternity health insurance policy thus keeps you happy and stress-free during the most important phase of your life.
What is Covered Under Maternity Insurance Plans?
Generally, maternity health insurance plans cover you for the following expenses:
- 30 days pre-hospitalisation expenses for consultations, diagnostics, and detection of congenital diseases
- Post-hospitalisation expenses for up to 60 days that covers medical expenses arising due to follow-ups
- In-patient hospitalisation expenses
- Vaccination expenses for the newborn
- Private room with A/C
- Road ambulance expenses
What is Not Covered Under Maternity Insurance Plans?
Generally, maternity health insurance plans do not cover you for the following expenses:
- Treatment related to AIDS
- Expenses related to treatment of pre-existing diseases
- Supplements taken at the time of maternity including vitamins
- Treatment expenses related to in-vitro fertilization and fertility treatments before pregnancy
- Non-allopathic treatment expenses
- Treatment expenses of congenital diseases
- Expenses incurred due to self-inflicted injuries
- Expenses related to aesthetic treatments
Top 5 Maternity Insurance Plans 2021
Not only as a separate health insurance policy, but you can also buy maternity insurance cover as a rider. Following are the top 5 health insurance plans that you can buy in 2021 to be covered for maternity expenses:
- Max Bupa Heartbeat Family Floater Policy: This policy comes in two variants, namely gold and platinum with sum insured options ranging between Rs. 5 lakh and Rs. 50 lakh. It offers maternity benefits for up to 2 deliveries, after 2 years of waiting period.
- Royal Sundaram Total Health Plus: Under its Gold and Platinum variants, Total Health Plus Plan offers maternity benefits. This plan offers cover for up to Rs. 20 lakh. The expenses are covered for up to the first 2 living children. The policy also reimburses for medical health check up expenses.
- Care Joy Policy: Available in two variants, namely Joy Today and Joy Tomorrow, this policy is another popular one that offers adequate coverage for maternity expenses. The policy covers you for maternity expenses, daycare expenses, newborn baby cover, pre-hospitalisation and post-hospitalisation expenses, etc.
- HDFC Ergo Health Suraksha Gold: The policy comes with sum insured options ranging between Rs. 3 lakh and Rs. 10 lakh and covers newborn baby expenses for up to 90 days after birth. Note that the benefits can be availed after completing a waiting period of 4 years.
- Chola MS Family Healthline Insurance Plan: This policy covers you for maternity expenses but after 5 years of waiting period. You can choose the policy as it offers several coverage benefits such as No Claim Bonus, tax benefits, maternity and newborn expenses, in-patient hospitalisation expenses, etc.
Things to Remember When Buying Maternity Health Insurance Plans Online
A couple of factors that you must keep in mind when buying maternity insurance plans online are as follows:
- Coverage: Check the sum insured and sub-limit of the insurance policy. Choose a policy that offers adequate coverage for maternity expenses that you are anticipating in your choice of hospital.
- Waiting Period: To discourage any ill intentions when buying maternity insurance plans, insurance companies have waiting periods. It is better to get an insurance policy with the least waiting period.
- Other Terms And Conditions: Thoroughly read the terms and conditions before buying a maternity insurance policy. You can use the 15 days free look period for the same.
Generally, insurance companies do not allow you to buy health insurance for someone who is already pregnant. Also, maternity insurance plans come with a waiting period of a few years. So, to make sure you are able to make full use of your health insurance plan, you should invest in them timely.
To know more about the best maternity insurance plans in India 2021, you can also contact the customer care executives at InsuranceDekho and share your requirements. The executives will understand your needs and provide you the best solution to them.
Disclaimer: This article is issued in the general public interest and meant for general information purposes only. Readers are advised not to rely on the contents of the article as conclusive in nature and should research further or consult an expert in this regard.