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Pregnancy or maternity is an important phase of every woman’s life. It does not just bring additional responsibilities but also increases financial needs. Hence, one needs to prepare in advance to embrace the onset of parenthood. From prenatal costs to post-natal costs, hospitalization and medical expenses due to pregnancy can be eased off with the help of Maternity Cover.

With several health insurance companies in India, there are a few health insurance providers that offer special Maternity Health Insurance plans. There are also a few others that offer maternity cover as part of a health insurance plan instead.

Irrespective of the way maternity benefits are covered, the below table shows the list of top 5 Maternity Plans covered by 5 insurance providers. They are sorted based on the top 5 private insurance companies that have the highest Incurred Claim Ratio as per IRDA report 2018-2019.

List of 5 Maternity Insurance Plans in India

Company Name

Insurance Plan

Waiting Period

Maximum Number of Maternity Benefit

Incurred Claim Ratio *2018 - 2019

Edelweiss General Insurance

Complete Health Insurance

48 months

2 deliveries or terminations

115%

Bharti AXA General Insurance

Smart Super Health Insurance

9 months

2 deliveries or terminations

89%

Reliance General Insurance

Group Mediclaim Insurance

No Waiting Period

N/A

94%

Universal Sompo General Insurance

Health Insurance

3 years

2 deliveries or terminations

92%

Magma HDI General Insurance

One Health Policy

48 months

2 deliveries or terminations

90%

*Updated as of 29th May 2020.

1. Edelweiss Complete Health Insurance Plan

It is imperative that the treatment is availed at a good hospital and at the same time, it is important to have a good health insurance policy to cover for the cost of rising medical expenses. With Edelweiss Complete Health Insurance Plan, you can cover the maternity expenses without any worry and focus more on nurturing your newborn baby instead.

Features and Benefits

  1. Eligibility to cover all the medical treatment expenses that are traceable to childbirth. This includes complicated deliveries and caesarean sections that are incurred during hospitalization.
  2. Eligibility to cover all the medical expenses with respect to the lawful medical termination of pregnancy during the first 12 weeks from the date of conception.
  3. Get 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.

2. Bharti AXA Smart Super Health Insurance

You can financially safeguard yourself with this health insurance plan that is designed to cover your medical expenses and help you avail the best quality healthcare. This policy helps you in covering your maternity expenses without any unnecessary stress and allows you to instead spend all your time with the newborn child.

Features and Benefits

  1. Avail maternity benefit, which is optional under Smart Super Health Plan, with the options to choose from a wide range of coverage between 3 lakhs, 4 lakhs, 5 lakhs and 7.5 lakhs.
  2. Cover the cost of maternity expenses for up to 2 deliveries or 2 lawful terminations. This can be availed at any point in life and is hence applicable for a lifetime.
  3. Eligibility to cover all the medical expenses of the newborn baby for the first 90 days since the child’s date of birth.

3. Reliance General Group Mediclaim Insurance

Your employees depend on you for their success just as you depend on them for your success in the marketplace. It is hence important to insure your employees against all the medical adversities that may arise due to accident and ailments, in turn avoiding wastage of valuable man-hours. This includes the maternity period of your female employees.

Features and Benefits

  1. Cover the cost of medical expenses that includes the cost of hospitalization, doctor’s fees, nursing expenses, OT charges, fees for anaesthetist and consultants, and pre and post-hospitalization charges.
  2. Eligibility to cover maternity expenses of your employee or their spouse with the help of Maternity Cover add-on right from the first day of the inception of the insurance policy.
  3. Cover the cost of daycare procedures for all employees and their families by paying an affordable premium for them and lowering the employee turnover.

4. Universal Sompo Complete Health Insurance

Apart from adopting a healthy lifestyle, it is also imperative to adopt a health insurance plan that will cover the rising cost of medical expenses that you may incur throughout your life. With this health insurance plan, you can also cover all the expenses related to your pregnancy without any hassle and focus on bonding with your newborn child.

Features and Benefits

  1. Eligibility to cover all the medical treatment expenses that are traceable to childbirth. This includes complicated deliveries and caesarean sections that are incurred at the time of hospitalization. This includes lawful medical termination of pregnancy during the health insurance policy period.
  2. Eligibility to avail maternity benefit of Rs. 15,000 to Rs. 25,000 for normal delivery and Rs. 25,000 to Rs. 50,000 for caesarean delivery, including Rs. 2,000 for pre and post-natal expenses.
  3. Eligibility to avail newborn baby cover from the day of childbirth up to the time the child is 91 days of age.

5. Magma HDI One Health Policy

You can cover the cost of medical expenses, including that of maternity expenses without any physical or mental stress with the help of this health insurance policy. This comprehensive insurance plan pays for your hospital bills, rewards you for staying fit and offers discounts on your premium to encourage you to remain healthy at all times.

Features and Benefits

  1. Eligibility to cover the cost towards all the medical treatment expenses that are incurred upon childbirth. This also includes expenses incurred during complicated deliveries and caesarean sections during your lifetime.
  2. Eligibility to cover all the expenses against lawful medical termination of pregnancy during the health insurance policy period.
  3. Eligibility to include maternity benefit even in case you are a widow provided the pregnancy was conceived when both you and your spouse were covered as insured persons during the policy period.

With the help of these top insurance plans, you can cover your maternity period to ensure that your pregnancy remains stress-free and the life of your newborn child does not shake your financial stability.

Naval Goel is the founder of PolicyX.com. He is an Associate Member of the Indian Institute of Insurance`, Pune. He has been authorized by IRDA to act as a Principal Officer of PolicyX.com Insurance Web Aggregator.
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