Things You Should Know While Buying Maternity Insurance
Becoming a mother is one of the important and delightful moments of a woman’s life. However, this happy moment may take a toll on both the mother and baby’s health if there is inadequate medical care. The best way to cover the medical expenses pre and post pregnancy is by availing a good maternity insurance plan for the mother and the child.
Hospitalization charges and medical bills can accumulate casting a shadow on the joyous moment of a family and therefore a financial backup which covers all the expenses must be planned early. There is no fixed time for availing a health insurance for delivery; the early, the better.
However following aspects of a maternity insurance plan need to be understood before narrowing down on the best one from different insurers:
Combined Hospitalization Expenses: Pre and post hospitalization expenses are covered under this category in a maternity insurance plan. All the hospital expenses for the mother (and sometimes for newborn) before and after delivery gets covered with this option.
Delivery Charges /Inpatient Hospitalization: Under this cover, charges of complete delivery and total hospital care can be availed under this category.
Pre-and Postnatal Cost: Childcare, consultation fees, medication etc. gets covered under this option of maternity insurance plan.
Vaccination Cover: Some insurers offer cover for the mandatory vaccinations of the newborn usually for a year from the date of delivery. This facility can be extended up to 12 years of the child by additional premium on the policy.
Child Coverage: Health coverage for the newborn at the time of birth and medical expenses related to that time including cost of unknown medical issues, if any, are covered under this cover.
Unlike normal health insurance policies, maternity insurance cover needs some processing time to avail the policy. Understanding the factors that require attention for the processing time and issue of a policy is necessary so that the mother can avail the benefits for the baby at the right time.
Read Also :- Group Medical Insurance - Why Even SMEs Should Opt For One
Waiting time and pre-existing clause: Normally, a maternity insurance policy does not come in effect immediately like normal health policies. A waiting period of 2 to 6 years exists after the maternity policy is taken. If a woman is already pregnant, then she cannot avail for a health insurance for delivery; in such scenario, pregnancy is considered as a pre-existing condition and does not get the benefits of a cover. Therefore, preparation of 2 years in advance before planning to conceive a child proves beneficial for the mother and child during delivery.
Premiums hikes depending on Age and Time: Premium of maternity coverage increase with age as the risk involved also increases. In women over the age of 40, doctors will require more tests and doctor visits, so availing the cover without delay is of absolute importance for an affordable premium.
To ensure a complete cover, consulting online aggregators like paybima.com can shed some light on the nuances of maternity insurance policies.
Hospitalization charges and medical bills can accumulate casting a shadow on the joyous moment of a family and therefore a financial backup which covers all the expenses must be planned early. There is no fixed time for availing a health insurance for delivery; the early, the better.
However following aspects of a maternity insurance plan need to be understood before narrowing down on the best one from different insurers:
Combined Hospitalization Expenses: Pre and post hospitalization expenses are covered under this category in a maternity insurance plan. All the hospital expenses for the mother (and sometimes for newborn) before and after delivery gets covered with this option.
Delivery Charges /Inpatient Hospitalization: Under this cover, charges of complete delivery and total hospital care can be availed under this category.
Pre-and Postnatal Cost: Childcare, consultation fees, medication etc. gets covered under this option of maternity insurance plan.
Vaccination Cover: Some insurers offer cover for the mandatory vaccinations of the newborn usually for a year from the date of delivery. This facility can be extended up to 12 years of the child by additional premium on the policy.
Child Coverage: Health coverage for the newborn at the time of birth and medical expenses related to that time including cost of unknown medical issues, if any, are covered under this cover.
Unlike normal health insurance policies, maternity insurance cover needs some processing time to avail the policy. Understanding the factors that require attention for the processing time and issue of a policy is necessary so that the mother can avail the benefits for the baby at the right time.
Read Also :- Group Medical Insurance - Why Even SMEs Should Opt For One
Waiting time and pre-existing clause: Normally, a maternity insurance policy does not come in effect immediately like normal health policies. A waiting period of 2 to 6 years exists after the maternity policy is taken. If a woman is already pregnant, then she cannot avail for a health insurance for delivery; in such scenario, pregnancy is considered as a pre-existing condition and does not get the benefits of a cover. Therefore, preparation of 2 years in advance before planning to conceive a child proves beneficial for the mother and child during delivery.
Premiums hikes depending on Age and Time: Premium of maternity coverage increase with age as the risk involved also increases. In women over the age of 40, doctors will require more tests and doctor visits, so availing the cover without delay is of absolute importance for an affordable premium.
To ensure a complete cover, consulting online aggregators like paybima.com can shed some light on the nuances of maternity insurance policies.
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