Reasons Why You Must Have Maternity Health Insurance?

Health insurance with maternity cover
Health insurance with maternity cover

Maternity health insurance is a type of medical insurance that safeguards the health requirements of a newborn baby as well as the mother by covering the expenses incurred. The cost that follows the delivery, hospitalisation,  postnatal care, diagnostic tests, medications, and expenses for a newborn infant are all fully paid for by maternity insurance. Maternity insurance policies help women prepare for the financial demands of raising a child because pregnancy is an expensive endeavour.

Maternity insurance is a form of medical insurance that financially covers all costs that are accumulated during and after pregnancy followed by childbirth. This includes delivery costs and other expenses that are related to natural or caesarean deliveries, whichever happens to be the case. Some medical insurance companies offer maternity insurance plans that include coverage for pregnancies, prenatal and postpartum expenses, as well as newborn baby expenses. Furthermore, some companies provide their female employees with the choice of maternity insurance as an add-on or in addition to the best health insurance plan. Therefore health insurance with maternity cover is very important.

Within the Indian context, all maternity insurance policies regardless of the company providing them have a waiting time that varies from 9 months to 6 years. During this time, the covered women are not allowed to make any claims for expenses associated with their pregnancies. The best time for women to get maternity insurance is therefore at least a few years before they plan to have children. Additionally, when picking a maternity cover, people should be aware that the waiting period for maternity insurance varies from plan to plan.

Reasons why you should get health insurance with maternity cover:

  • It provides an economic backbone to support the expenses incurred in the process of pregnancy- Health insurance with maternity cover serves as a veritable financial safety net by providing coverage for costs associated with both natural birth and a caesarean delivery option. So, regardless of the surgery that is required, you won’t worry about the cost. There are also certain policies that offer blanket coverage of both pre- and post-hospitalization charges, with the coverage for the former expenses being up to 30 days and post-hospitalization charges for as long as 60 days. In addition to that, the coverage also covers other medical costs including the price of the surgeon, the cost of the doctor’s consultation, the cost of the room, and nursing.
  • Charges of child delivery in private hospitals have been skyrocketing- Private hospitals are in ever-increasing demand nowadays because consumers want access to high-quality treatment. However, as one would expect, these hospitals charge a hefty sum for the high-quality services that they provide.It is also important to note that the process of pregnancy until childbirth is inherently ridden with difficulties and presents a highly unpredictable medical scenario, making it impossible to factor in all the variables that would determine the final cumulative cost. A maternity insurance policy can therefore act as a financial cushion insuch cases, allowing you to have the space to cherish the blessings of parenthood without worrying incessantly about economic repercussions.
  • Coverage begins right from the day the child is born: Typically, health insurance policies do not begin to pay benefits to newborns until they are 90 days old. However, health insurance with maternity cover is a type of policy that sustains all the medical expenses incurred by the baby right from day one, thereby providing a much safer financial condition for the family. Some of these plans even cover the cost of the newborn’s immunizations to the conclusion of the policy year.
  • Prepares the couple for issues: A newborn needs to be kept in an incubator for a specific amount of time in the event of complications like premature birth. Such treatment can cost as much as Rs. 10,000 per day. These are unforeseeable events that could get worse because of the costs. You could find some relief from the financial strain if you had an excellent maternity insurance plan, as it would cover the majority of the costs. Some maternity insurance policies provide coverage for the newborn child in the event that he or she is diagnosed with a congenital condition or is born with a serious disease.
  • Helps expecting couples to start a family without having to shoulder enormous monetary burdens: Due to the costs associated with having and maintaining a child, most couples these days take their time while planning their pregnancy. 

One of the most significant and life-changing decisions one would have to take is whether they want to raise children. It is a decision that can irrevocably alternate the trajectory of one’s life. Pregnancy brings forth months of anticipation, and while the excitement of imminent parenthood is indeed at a high, the accompanying financial burden can also cause a great deal of anxiety. However, if you have taken up a plan of health insurance with maternity cover, you won’t have to sweat bullets about the fees of hospitalisation and medication. Expectant couples should think about a number of different things both before and after the kid is delivered, but one cannot ignore the associated costs. These startling statistics highlight the importance of careful financial planning for anticipated pregnancy-related medical costs. Therefore, one of the best ways to deal with these costs is to purchase maternity insurance, which is offered by many health insurance providers.

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