Maternity Health Insurance

Giving birth to a child is the most valuable experience for a woman where she sails through myriads of new experiences and emotions. While the happiness in carrying a baby can't subside with anything in the world, sometimes the financial aspect incurred during the pre & post-natal period can become a hindrance in this magical journey. The average cost to deliver a baby is around Rs. 45,000 to Rs. 75,000, and the cost of cesarean deliveries has risen to Rs. 2 lakhs in most metro cities in India. Therefore, maternity insurance is a great means to ensure that there are no roadblocks in the nine-month magical journey.

Maternity insurance is one of the underrated categories of insurance which people generally neglect, but if looked closely then this can really help the to-be-parents in managing a huge chunk of finances throughout the journey. Maternity insurance provides coverage for all the expenses associated with childbirth up to a certain period.

Best Maternity Health Insurance Plans in India 2023

Choosing a suitable plan for maternity can require a lot of juggling of available plans in the insurance market. Some of the cruicial factors that should channelize your decision in choosing the right plan should include, inclusion of pre and post hospitalization expenses, pre and post natal expenses, delivery charges and inpatient hospitalization, vaccination cover, newborn coverage in your maternity plan. Here is a list of Best Maternity Insurance Plans available in India which can help you enjoy a financially stress-free pregnancy:

• Aditya Birla Activ Health Platinum
• Bajaj Allianz Health Guard
• Care Joy
• Chola Healthline Plan
• Future Generali Health Total Policy
• ICICI Lombard Complete Health
• Kotak Health Care
• NivaBupa Health Premia
• SBI Arogya Supreme
• Star Comprehensive Plan

What is Maternity Health Insurance?

Maternity insurance is a type of health insurance that is designed to offer comprehensive coverage to a woman and helps her prepare in advance for the financial requirements of growing a baby. Such plans are designed to cover medical expenses incurred during pregnancy like delivery expenses, hospitalization, pre & post-natal care, medical tests, medicines and other newborn baby expenses.

What makes Maternity Benefits so Important for Young Couples?

Maternity covers are either offered as separate optional covers or are already included in a health insurance plan. A good maternity plan includes pre and post-natal care of a mother and a child. It includes pregnancy cover, newborn baby cover, and also congenital disease cover. Maternity health insurance cover provides financial security for women and couples who are expecting a child and want to expand their families. Maternity cover includes hospitalization, doctor visits, medication cover, delivery expense cover, and more. The maternity health plan also includes newborn baby coverage, as well as various discounts depending on the plan a couple invests in. Maternity health insurance is a valuable asset that couples must invest in as they can use it as a financial safety net in the event of family planning without draining their life savings.

The maternity plan includes in-patient care, daycare treatments, ambulance coverage, maternity coverage, newborn baby coverage, newborn birth defects, room rent, and other benefits. Maternity Health Insurance is an ideal option for those who are looking forward to starting a family and do not want the financial stress of bringing new life into the world. The medical expenses for a normal delivery as well as C-sections are getting expensive year after year which is why it is vital for young couples to invest in a good maternity health insurance plan.

Who Should Opt For It?

Maternity Health Insurance is ideal for anyone who plans on expanding their family and wants to welcome a newborn into the world and complete their family. Giving birth and becoming parents is one of the most important events in anyone's life. Precious moments like these must be spent stress-free and without any financial worries. The maternity health insurance plans are best suited for

Know More about Maternity Insurance

Now that we have covered why maternity insurance plans are important to invest in, let us understand why it is deemed so important for young couples to invest in a maternity health insurance plan.

Benefits of Maternity Insurance

Maternity insurance, generally, comes as a standalone policy and also comes as a benefit or add-on rider with general health insurance in individual and family floater plans. This insurance covers all maternity-related expenses such as delivery, both options, normal and cesarean, and other medical expenses including nursing, room charges, doctor consultation, anesthetist charges, and surgeon's fees. Moreover, the maternity benefit covers the treatment taken for complications in the pregnancy or medically necessary termination, in case required.

The maternity insurance is proven to be supportive post the birth of the baby. It pays for expenses arising out of hospitalization charges of the newborn baby due to any medical complications, vaccination charges, fertility issues of the mother usually up to 90 days from the date of delivery. This add-on benefit can be opted for both the first or second time of having a child by the policyholder.

Premium & Waiting Period

However, the real question arises when one should take maternity policy. Though a maternity plan can be bought at the time of pregnancy but the benefits can't be claimed as maternity plans come with a good time of waiting period ranging from 9 months to 48 months, depending upon the company. In fact, most insurers don't provide maternity insurance plans at the time of pregnancy as it is considered a pre-existing disease category.

The premium payable on a maternity insurance policy is relatively higher than a regular health plan. The certainty of a claim being filed under the policy is absolute, hence, the insurers levy a higher premium on these policies. Therefore, when one decides to buy such coverage, it is recommended to undertake a detailed cost-benefit analysis between different plans offered by various insurance providers. It is crucial to remember that as one grows older, the premium for maternity insurance increases. And top of everything, maternity insurance plans are worth buying considering the escalating cost of pregnancy-related expenses.

Other Maternity Health insurance Companies