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Top 4 Maternity Insurance Plans and Their Benefit

Updated On Dec 04, 2020

Motherhood, on the first hand, is the most important and happiest phase of life for every woman. On the other, it puts a dent into your savings.

That’s why every soon-to-be parent must be financially strong, as maternity may call for an adequate financial backup. To be precise, women encounter several complications during pregnancy.

As per a report published in Indian Express, five women die every hour in the country due to complications during childbirth. The possibility of these complications increases because of surrounding stress, a hectic lifestyle, and delayed motherhood. This is also because women are juggling between their life and career and delay in pregnancy.

To deal with any complicated situations and provide the best possible medical facility, maternity insurance plans should be your priority. It is helpful in case of any severe or normal cases. It provides coverage for all the expenses incurred either in Caesarean or normal delivery. Besides, it eases off the rising costs, ranging from hospitalization expenses, costs of medical tests, ambulance charges, and costs of medicines.

Here is a wealth of information about maternity insurance.

You can get maternity insurance as an additional or add-on rider with your main health plan. In India, a few insurance companies offer maternity insurance to reduce the financial burden on you in case of any medical emergency.

Many employers also provide female staffs with maternity insurance along with health insurance. Not only this, some corporate group policies are available in the market in which maternity is an add-on benefit (rider).

Coverage

Maternity insurance may cover the following expenses depending on the plan you have chosen:

Pre-hospitalisation: Coverage for pre-hospitalisation expenses up to 30 days before the delivery.

Post-hospitalisation: Coverage for post-hospitalisation expenses up to 60 says.

Hospitalisation costs: The maternity plan also provides coverage for room charges, surgeon charges, nurses, fees of medical practitioners, anesthetist consultation charges and emergency ambulance charges.

Cesarean or Normal Delivery: Expenses, for Caesarean or normal delivery, are covered by some of the policies. Besides, post-delivery complications are additional benefits for the mother.

New Born Baby cover (Day 1-90): In case, the infant is diagnosed with congenital issues or critical disorder, the coverage may be extended.

Note: Before choosing a maternity insurance plan, go through its policy wording, and understand inclusions and exclusions.

Here is a list of the insurance plans with maternity coverage benefits.

1. Easy Health Family Floater

Offered by Apollo Munich Easy Health Family Floater plan includes three different insurance policies. They are:

  1. Standard plan
  2. Exclusive plan
  3. Premium plan

Standard Plan - This is a normal plan with some benefits.

Exclusive and Premium Plans- These two plans include both maternity coverage as well as coverage for the newly born. The maternity coverage includes expenses incurred both before and after childbirth procedures. They also cover newborn baby expenses from 1-90 days.

2. Master Product - Total Health Plus

Master Product - Total Health Plus is a comprehensive insurance package offered by Royal Sundaram Alliance Insurance Company Limited. This plan offers benefits with an innovative feature, INDEXATION BENEFIT. Under this plan, you can avail the benefits up to Rs 30,000-Rs 50,000. Maternity hospitalization and any complications before and after delivery are also covered, but they are available after a waiting period of 3 years.

Key benefits of the Master Product - Total Health Plus include hospitalisation expenses, pre & post hospitalization expenses, daycare expenses, ambulance charges, master health check-up and much more.

3. ProHealth Plus Plan

The ProHealth Plus Plan is a product of ManipalCigna health insurance. It covers maternity, newborn expenses, and first-year vaccinations.

  • The maternity coverage is available after 4 years of a waiting period.
  • For a normal delivery, the coverage amount is up to Rs 15000
  • For a Caesarean delivery, the coverage amount is up to Rs 25000

4. Heartbeat Family Floater

Heartbeat Family Floater is one of Max Bupa’s best plans. It covers maternity and newborn in its sub-plans:

  • Gold Plan - Comprehensive cover options of Rs. 5 lakhs, Rs. 7.5 lakhs, Rs. 10 lakhs, Rs. 15 lakhs, Rs. 20 lakhs, Rs. 30 lakhs, and Rs. 50 lakhs.
  • Platinum Plan - Comprehensive cover options of Rs. 15 lakhs, Rs. 20 lakhs, Rs. 50 lakhs and Rs 1 crore.

In the heartbeat family floater policy, maternity coverage and newborn baby care, including first-year vaccinations are available.

The sub-policies provide you with maternity benefits of two deliveries after a waiting period of 2 years.

Things to Remember

There are some factors to keep in mind when buying a health policy and planning your expense. Let’s have a look.

  • If your employer provides you health insurance with maternity cover facility, claim that policy first. Don’t touch your own policy.
  • When purchasing a plan, don’t make maternity cover your main criteria
  • If the medical expenses exceed the sum assured of your employer’s policy, claim the balance through your personal plan.

It is essential to keep in mind that insurance companies don’t provide coverage if you are already pregnant. They can let you buy maternity insurance cover only when you conceive. 

Also Read

Top 6 Things to Consider While Buying Health Insurance

Top 4 Health Insurance Plans For Lifestyle Diseases

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