You may have just gotten married or may not even be planning to have kids right now, yet it’s wiser to buy a health insurance with maternity coverage at this juncture itself? Why? So that your future is secure.
If you feel that you can buy maternity health insurance as soon as you conceive, then you better think twice. Most health insurance companies refuse to enrol you for the scheme if you are already pregnant. That is why you have to buy the health insurance much before you begin your family planning.
Secondly, the waiting period for the maternity coverage to become applicable is 2 to 6 years from the date of purchase of the policy. This means instant purchase does not give you instant coverage. Hence to secure your financial future you have to plan well in advance.
How does a health insurance with maternity coverage secure your financial wellbeing in the future?
It covers the hospitalization charges and other charges (doctor’s fee, medicines, etc.) during the time of delivery
It covers the pre-hospitalization (maximum for 30 days) and posts hospitalization expenses (maximum for 60 days) like - medicines, diagnostic tests, follow-up consultations, etc. related to natal care
It covers the cost incurred in legally approved medical termination of pregnancy in case of any complications any time after 12 weeks of conception
For a caesarian, it can cover the expenditure from Rs. 25,000 to Rs. 50,000 for the procedure. While for a normal delivery it can cover the expenditure from Rs. 15,000 to Rs. 30,000 for the procedure
It covers the medical expenses pertaining to the wellbeing of the newborn (if need be) up to 90 days after the child’s birth
If you buy a health insurance with maternity cover instead of a standalone maternity health insurance, then all the benefits of your health insurance get extended to your newborn automatically. Your child too you’re your insurance cover, if and when required in the near future.
At the same time, you must be aware that a maternity coverage cannot be applied for in case of surrogacy; treatments pertaining to fertility and birth control and after the age of 45 years (for women).
Buying a health insurance with maternity coverage can be more beneficial in the long run than buying maternity health insurance or health insurance for maternity, exclusively. For more details, consult only the No.1 insurance company in India – ManipalCigna.