A maternity insurance policy is a product that covers the medical expenses related to a woman’s pregnancy, delivery and post-delivery. You can either opt for it as a stand-alone policy or add it as a cover to your existing family health insurance plan by paying a higher premium.
It covers costs only till a certain limit and has exclusions such as fertility procedures and baby care beyond specified conditions.
Why is a maternity plan important?
A maternity plan comes as great importance as the medical costs in recent times have been sky-rocketing. With several procedures and processes being involved with childbirth, it is likely that the young couple are to incur high medical costs.
Shelling out a lump sum money at this point of time in their lives can be a huge financial burden. Thus, the maternity insurance plan turns out to be a boon for them. It is important to remember that every maternity plan has a specific limit that is based on the sum assured in the plan.
Considering that young couple are likely to be forming their financial base at the same point of time, these maternity covers eases out their burdens by covering the regular medical costs involved in pregnancy and delivery.
Here is a list of coverages that the maternity plan covers and how it can benefit you:
Apart from just the delivery expenses, some plans also cover the costs incurred for the infant’s care. Costs such as infant’s support system, issues related to birth defects, special medical procedures may also be included until a certain limit.
Certain maternity plans also cover specific vaccination costs that are made compulsory by the Government of India. These costs may be valid for a few years after birth and sometimes up to the child turns 12 years old.
Pre and post-natal costs
Pregnancy requires frequent check-ups and visits to the doctor prior to delivery. Alongside, there are also other costs involved for medicines, child care treatment and equipment costs. All these could be covered under your maternity policy.
Delivery and hospital stay
Hospitalization during delivery is something everyone is obliged to. If not fully, at least a certain limit of these costs are covered under this policy. Very few special policies cover the costs involved in hospital stay completely, other basic policies and premiums cover them only up to a certain limit.
Hospitalization Costs before and after delivery
Apart from the pre and post-natal expenses, this coverage offers a different plan. These covers cover a range of expenses such as medicines and additional charges, for about a month or two before getting hospitalized.
Being aware of these policies and covers and their benefits, may benefit you in many ways and also lessen the financial burden you might have to carry. Pregnancy by itself can get quite stressful, let alone the financial costs of it. Invest well in a maternity cover and reap its benefits and enjoy this precious period of your life without any worry.