Best Maternity 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.

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.

Top 5 Best Maternity Insurance Plans

Here is a list of the 5 Best Maternity Insurance Plans which can help you enjoy a financially stress-free pregnancy:

1. Edelweiss Complete Health Insurance

   This plan offers two deliveries or lawful termination of pregnancy during the first 12 weeks from the date of conception. The insured gets coverage for all medical treatment expenses traceable to childbirth including complicated deliveries and cesarean sections that are incurred during hospitalization. Besides, the policy gives a maximum benefit of Rs. 50,000 under Gold Health Insurance Option and Rs. 2,00,000 under Platinum Health Insurance Option as maternity benefit to cover medical expenses. The waiting period of this plan is 48 months.

2. Bharti AXA Smart Super Health Insurance

   This plan offers medical coverage for two deliveries or medically recommended lawful pregnancy termination after completion of a 9-month waiting period. Maternity coverage is only available in a family floater plan and is applicable only to the insured who has chosen the policy term of 3 years.

3. Reliance General Group Mediclaim Insurance

   Reliance General Group Mediclaim Insurance provides maternity cover as a value-added benefit. It offers one-day cover for maternity expenses for both normal and cesarean delivery. The policy does not have any waiting period to start availing of the benefits.

4. Universal Sompo Complete Health Insurance

   This health care plan comes with a three-years waiting period and covers medical expenses for two deliveries or lawful pregnancy termination. This includes complicated deliveries and cesarean sections that are incurred at the time of hospitalization. Maternity benefits are available in two of the variants of the policy which are Essential and Privilege.

   The policy covers up to Rs. 15,000 (Normal delivery) and up to Rs. 25,000 (Cesarean delivery) under the Essential option whereas the Privilege option covers up to Rs. 25,000 for normal delivery and up to Rs. 50,000 for cesarean delivery. Both the variants offer coverage for pre and post-natal expenses up to Rs. 2,000.

5. Magma HDI One Health Policy

   This comprehensive health care plan offers maternity benefits in its Premium variant. It offers coverage for medical expenses involved in pregnancy up to Rs. 1,00,000. The plan provides financial coverage in case of normal as well as cesarean delivery.

   Considering the maternity benefits and features offered by various companies and in their health plans, one can take a sigh of relief from the financial burden. Compare the top maternity covers and choose the one, fulfilling all your requirements to experience cheerful pregnancy. Enjoy this beautiful phase of life to the fullest.