The Buyt Desk
We have insurance cover for our life, health, car, home and even on gadgets. But is pregnancy covered under insurance? You will be surprised to know that most of the insurers do not provide maternity insurance. Pregnancy is considered a pre-existing condition that is considered beyond the cover. The cost of delivering a baby is becoming expensive and it could cost you somewhere around 1.5 lakh in a private hospital. You could take maternity add-on insurance and cover the maternity charges but do keep in mind that this add on benefit comes with its own set of rules.
Five things that you should know about maternity Insurance coverage-
1. Buy As Early as Possible
There is no stand-alone maternity coverage. You will have maternity benefits as an add on or rider to your existing health insurance. You need to buy it as soon as you get married as the maternity add-on coverage has a long waiting period of 3 years. Maternity benefits can be added in an individual or even in a family floater plan. You should check out the terms and conditions of the company to ensure that the company chosen offers maternity coverage.
2. Insurance Coverage
The maternity cover will take care of pre and post-hospitalisation expenses. It will be inclusive of nursing and room charges, doctor consultation, surgeon fees, and anaesthetist consultation. The cost of any hospitalisation of the newhealthborn due to any unforeseen complication will also be covered under maternity insurance.
3. Coverage Limit may differ
There is a difference in the cost of normal delivery and cesarean delivery. You can’t be sure of what may be the requirement at the time of delivery that is why it is advisable to take a bigger coverage. Check the sub-limit of the insurance so that you are well aware of the hospital stay cost coverage of the insurance.
4. Exclusions
Do check all the rules and conditions of the insurance. Double-check for any maternity related specific exclusions.
5. Group Insurance Plan
If you have a group insurance plan from your company then do check for maternity coverage. As many group insurance cover offers maternity benefits to employees. Most of such group policies cover maternity expenses of up to Rs 70,000 to Rs 1 lakh.
If maternity insurance is on your mind, hope we have helped you in clearing your doubts.
