Are you all set to enter the parenthood phase? The joy of welcoming a little one into the world is unmatched but before that happens, expectant parents are expected to make several decisions, including understanding and buying maternity insurance.
You must be financially prepared not only for the delivery charges but also for many pre and post-delivery medical screenings, regular visits to the obstetrician, essential dietary supplements, and more. If you calculate all the necessary expenses, it is no surprise that they amount considerably. That is where maternity insurance steps in to provide significant financial relief. Here, we explore the top five points you must know about maternity insurance in India, to ensure you make informed decisions for your loved ones and you.
Maternity insurance is health insurance with a maternity add-on cover. From coverage to limitations, following are the important points to understand about maternity health insurance in India:
Natal relates to birth. 'Pre-natal' refers to expenses incurred before delivery, such as consultation charges, medical screenings, pharmacy expenses, and other related costs. Most maternity plans offer pre-natal coverage up to 30 days before hospitalisation.
On the other hand, 'post-natal expenses' are those incurred after delivery and hospital discharge. These expenses are associated with medical screenings to detect any possible complications in the mother or baby. Postpartum depression is another common condition that requires consultation. Most insurance providers cover these expenses under maternity plans for up to 60 days.
New-born babies have delicate bodies, and their immune systems are still developing. During the initial months after birth, they are prone to multiple illnesses. Doctors recommend the following vaccinations to protect them from developing any conditions. You must ensure that your maternity insurance covers the cost of these vaccinations —
Other key vaccinations protect against Tetanus, Pertussis (Whooping Cough), Diphtheria, and Polio.
Maternity health insurance offers coverage for new-born babies’ vaccinations for up to 12 months. However, it is important to check with your insurer whether any specific vaccination is subject to the policy's exclusions.
The primary reason why people opt for maternity cover is to deal with the delivery charges. In India, the cost of a C-section at an average hospital ranges from ₹40,000 to ₹60,000, while renowned hospitals charge up to several lakhs of rupees. If complications arise, the charges can increase further.
This is where maternity cover comes in, covering delivery expenses and any medical complications the mother may face during the procedure. However, it's important to note that if these complications are related to a pre-existing condition and the mother has not yet completed the waiting period for pre-existing illnesses, the insurer will not cover the additional expenses arising from such complications.
Health insurance providers have tie-ups with healthcare establishments offering advanced facilities to provide top-notch medical care to insured members; this helps policyholders avail of cashless treatment without making any payments upfront other than deductibles. However, before opting for maternity coverage, ensure that your chosen hospital is on the insurer's network of healthcare establishments.
If you haven't decided on a hospital yet, check the list to identify if the names of the best maternity hospitals near your residence are included.
No insurance policy is without limitations, and maternity insurance is no different. It is suggested to go through the fine print to avoid last-minute surprises.
The insurer won't cover unrecognised delivery procedures or alternative birth methods. Moreover, IVF treatments and stem cell harvesting and storage are subject to policy exclusions.
In addition, the coverage for a baby under maternity insurance applies only to medical expenses and does not include diapers or feeding bottles.
Maternity insurance in India offers essential financial support for pre and post-natal care, delivery expenses, newborn vaccinations, and more. However, it's important to understand the limitations, exclusions, and coverage details before choosing a plan. By being well-informed, you can ensure smoother financial planning for your journey into parenthood, reducing the burden of unexpected medical costs during this life-changing experience.
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