Safeguarding motherhood with maternity cover in health insurance

Safeguarding motherhood with maternity cover in health insurance can ensure overall health, wellness and financial security during pregnancy and childbirth. Maternity cover in health insurance is designed specifically for expecting mothers to protect them against delivery or pregnancy-related costs.

Celebrating motherhood traverses beyond just a dedicated day. Stepping into motherhood is one of life’s most remarkable transformations. Apart from phenomenal strength and patience, one also needs to ensure overall health, wellness and financial security during pregnancy and childbirth. The cost of diagnostics, procedures and hospitalization is a common concern for couples planning a family.

Going by the stats, a normal or C-Section delivery can cost anywhere from Rs 50,000-Rs 70,000. If you stay in a metro city, the cost can touch a lakh and above. Coupled with pre and post-natal expenses throughout the pregnancy, the cost can weigh heavily on an average family. Moreover, though covered by corporate insurance, the amount does not sufficiently incorporate healthcare inflation, increasing at 18-20% annually. To shield yourself and your family against these costs, you must opt for maternity benefits in your health insurance. Here’s all that you need to know about it.

What is a Maternity Cover?

Maternity cover in health insurance is designed specifically for expecting mothers to protect them against delivery or pregnancy-related costs so they can be financially at ease about welcoming their new-born into the world. These are usually provided as an additional rider with an existing health insurance policy, covered under the scope of OPD-related expenses, or offered as a part of the group policy in the company that encompasses maternity insurance.

Why is Maternity cover required?

For to-be-parents, on one end, there are pregnancy jitters, and on the other, there is the dangling worry of hospital bills that may make their financial planning go haywire. This is likely to happen in the case of child-birth complications or C-section delivery, leading to extended post-delivery hospital stays, thereby ascending the overall medical expense that would include medicines and hospital charges. Hence, with maternity health cover, you will be able to save yourself from financial distress and from using the funds you had kept aside for your baby’s future in the first step itself, i.e. delivery. Likewise, it will also offer adequate financial coverage for treatment related to pregnancy and delivery costs. Available at a low cost if wisely bought as a part of an add-on to your existing health insurance plan, this insurance is vital for the well-being of the mother and the child.

When to purchase the Maternity Cover?

Many insurance companies have thoughtfully developed maternity plans targeted at couples aged 20 to 35 years. For instance, the Aditya Birla Active Health Platinum and Enhanced Plan offer a sum assured varying from Rs 2 lacs to Rs 2 crores, with a specific amount being allotted for maternity-related hospitalization lawful medical termination of the pregnancy, and new-born baby’s expenses such as medical treatments, vaccinations. However, with most companies offering a waiting period ranging from 2 to 4 years and a few 9+ months, it is ideally recommended to purchase this add-on upon getting married or even in the middle or at the time of the health insurance policy renewal. This way, the couple can timely eliminate the waiting span and plan a baby worry-free. An important factor, however, in this case, is to opt for the maternity cover before conceiving, so the insurance firms do not deny it considering pre-existing pregnancy.

Also Read: Health insurance policies need to be more women-centric : Study

What is covered?

The maternity insurance add-on is mainly a comprehensive coverage that guards against pre-and post-hospitalization expenses, ambulance charges, and the cost of the baby from delivery to 30-90 days. A considerable advantage is that most insurance companies deliver cashless claim settlements at all network hospitals. However, for non-network hospitals, the process is to submit documents, follow the reimbursement process, and get a claim settlement. It also helps save tax benefits of Rs 25,000 in one financial year under Section 80D of the Income Tax Act, 1961.

A recent addition has been the inclusion of infertility treatments like in-vitro fertilization (IVF) by a select few insurance companies. One such plan is Star Women Care Insurance Policy, available as both an individual and a floater policy. Apart from covering regular hospitalization and preventive health check-ups, it offers coverage for assisted reproduction treatment, delivery (pre and post-natal cover), multiple medical consultations, voluntary sterilization, and child hospitalization. Females aged 18 to 75 years can avail of this for 1, 2 and 3 years without undergoing any premedical tests to avail this policy.

What is not covered in Maternity Health Cover?

Some exclusions that should be considered by the policyholder as much as the inclusions before purchasing the plan are-

Does not cover money spent on supplements, vitamins, or tonics as it is considered an additional expenditure.
The maternity health insurance plan will not cover pre-existing diseases like high blood pressure, epilepsy, etc.
Genetic medical conditions like Down syndrome, heart disease, or spina bifida in children before or at birth are not shielded.
Existing pregnancy will not be covered at the time of purchasing a new policy

Who is Eligible to opt for the cover?

The eligibility for purchasing the maternity cover is straightforward. You need to fulfil the entry age criterion that varies from policy to policy. Also, some insurance companies may have a cap on only two maternity claims except in case of loss.

As a closing remark, motherhood is a new chapter in women’s lives, and it is vital to ensure that the family gets all the financial and medical aid throughout the process. So, before choosing your policy, always compare online, and cross-check the waiting period, the inclusions and exclusions. Also, read the terms and conditions to obtain the maximum benefit and keep the process smooth and hassle-free.

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