Points to Evaluate When Buying Maternity Coverage in Your Health Insurance Policy

Health Insurance Policy

Being a parent is nothing short of a blissful experience in your life, but comes with its share of responsibilities, even more for the woman. While majority women work in present times, health takes a toll and impacts the pregnancy too. Unexpected complications may develop which either may be related to lifestyle or the stress surrounding it.

A health insurance policy helps protect against financial hurdles for treatment of ailments. With soaring medical inflation, it is no longer a second line of defence, but, in fact, the primary way to tackle medical exigencies. Health insurance policies are not just available to provide protection for individuals, but also families together.

Planning your parenthood helps you tackle the complications that may arise in a planned manner. Not only that, it helps to make sure there are no compromises when it comes to buying a health insurance for covering pregnancy. Since pregnancy is a phase and not a treatment, the coverage of the family health insurance must be available for its entire duration. This helps safeguard not just the mother, but also the newborn. Here are some pointers that you must consider when buying a maternity coverage in your health cover:

  • Waiting period

Depending on the terms of the insurance company, there is a waiting period of 2-6 years before any maternity expenses can be claimed. The waiting period implies any pregnancy-related treatment costs or even medical tests or complication in childbirth are only covered after the expiry of this duration. For someone who has planned their parenthood in advance, this may not be a problem. But all others must take note of the waiting period in your insurance cover. * Standard T&C Apply

  • Coverage offered

What is covered by the insurance company is equally important as it is to know about the waiting duration. During pregnancy, it isn’t only about childbirth, but also the medical visits to the gynaecologist, periodic medical check-up and more. These different diagnoses and pre-delivery charges can prove to be heavy on your wallet. Hence, it is advisable to carefully select a policy with the right set of inclusions. * Standard T&C Apply

  • Sub-limits of the policy

There are certain limitations or capping on the amount of expenses covered by the maternity health policy. Although you have purchased a policy with higher sum assured, the sub-limit implies limitation on a few categories of expenses. It results in out-of-pocket expenses despite having a health insurance plan. Thus, you must thoroughly read the policy document to know of any such sub-limits in your coverage. It helps lower the expenses at the time of claim. Also, note that buying a plan with lower sub-limit can be advantageous. * Standard T&C Apply

  • Premium

Lastly, premium is another factor to not overlook when buying a health insurance policy with maternity coverage. Undoubtedly a prudent buyer will opt for a policy that offers maximum coverage and lower waiting tenure, it results in high premiums. But there is a need to balance all three factors to for the policy to be affordable. Thus, avoid the extremes and opt for a policy that not just ticks your checklist, but also is pocket friendly. You can make use of a health insurance premium calculator that can help you know about the premium based on the coverage you opt for.

Also keep in mind that insurance is the subject matter of solicitation. For more details on benefits, exclusions, limitations, terms and conditions, please read sales brochure/policy wording carefully before concluding a sale.