How are Maternity Insurance Plans Helpful for Pregnant Women?
The event of pregnancy comes with excitement and responsibility. Your responsibility starts right from regular medical check-up during nine months followed by successful delivery of the baby. Nowadays, the cost of delivery can go as high as INR 50000 to INR 80,000 in private hospital. In the event of C-section, the cost will be even more. Hence, it will be helpful if you get maternity insurance plan as soon as you get married so that you can remain worry-free during the delivery of the baby. Below are the major benefits of pregnancy insurance:
Hospitalization Expenses
The maternity health insurance covers the hospitalization expenses, including medicines, diagnosis examinations, doctor’s consultations, and room charges. To avail benefits, you need to be in the hospital for a minimum of 24 hours. For the delivery, the stay of 2-3 days is usual, so you can easily get this benefit if you have maternity health insurance policy.
Pre Natal and Post Natal Expenses
The expenses for ultrasound, regular check-ups, doctor’s consultations, pre and post-delivery care and similar expenses are covered under maternity health insurance plan. The pre-hospitalization charges before 30 days of the birth of a newborn baby are also covered.
New Born Baby Cover
Your maternity health insurance policy covers health-related expenses of the newborn baby up to 90 days from his or her date of birth. Hence, you don’t have to worry about additional financial expenses till three months. Meanwhile, you can add your baby’s name in your family health insurance policy to cover him or her beyond 90 days.
Hospitalization Expenses
The maternity health insurance covers the hospitalization expenses, including medicines, diagnosis examinations, doctor’s consultations, and room charges. To avail benefits, you need to be in the hospital for a minimum of 24 hours. For the delivery, the stay of 2-3 days is usual, so you can easily get this benefit if you have maternity health insurance policy.
Pre Natal and Post Natal Expenses
The expenses for ultrasound, regular check-ups, doctor’s consultations, pre and post-delivery care and similar expenses are covered under maternity health insurance plan. The pre-hospitalization charges before 30 days of the birth of a newborn baby are also covered.
New Born Baby Cover
Your maternity health insurance policy covers health-related expenses of the newborn baby up to 90 days from his or her date of birth. Hence, you don’t have to worry about additional financial expenses till three months. Meanwhile, you can add your baby’s name in your family health insurance policy to cover him or her beyond 90 days.
Sub Limits
If you want to avail maternity benefit under your principal health insurance policy, you can consider checking the sub-limit applied to the maternity benefit. For example, if the sum assured for your health insurance is INR Three lacs and sub-limit for the maternity benefit is specified as INR 30,000, you may not be able to cover the entire financial cost. Hence, it is advisable to avail standalone pregnancy insurance policy that can give you complete coverage. Such a policy is offered by Bajaj Finserv, that you can avail online as well. This type of arrangement will give you complete coverage.
Additional Read: Maternity Health Insurance and its Important Terms
Ambulance Charges
The cost of ambulance charges occurred during an emergency is also covered under maternity health insurance policy.
Cashless Facility
Every insurance company has a tie-up with the major hospitals in the city. Under the tie-up, you don’t have to spend out of the pocket for the services inside hospitals. The hospital authority will claim the expenses directly from the insurance company. Hence, it protects you from arranging a large amount of money through a loan or other sources. It also saves you from compiling expense bills and claiming from the insurance company.
The Cover Under Group Insurance Policy
If you are already pregnant, the insurance company will not give you the maternity expense reimbursement under the policy issued after you conceive. In such a case, you may inquire about the group insurance policy provided by your employer, that has liberal terms and conditions for the benefit of woman employees.
Tax Benefit
The premium paid for a health insurance policy is deductible expense under Section 80D of the Income Tax Act, 1961. Hence, your overall cost of a maternity insurance policy is much lesser than the actual premium you pay, because of the tax benefit you receive by availing health insurance policy.
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