The blessing of having children is one of life’s greatest blessings. Even thinking about having a child can make you happy and emotional. Parenthood has another aspect to pay attention to: the extra costs.
The first thing to look into is whether or not there is pregnancy-specific health insurance. You should also budget for any additional costs you’ll have to deal with right away after your child’s birth.
If you have maternity insurance, you won’t have to worry about these costs. Numerous
online health insurance plans include maternity benefits. While having those advantages is beneficial, they typically leave you wanting more. Or you might still have to pay out of your pocket.
The Requirement For Maternity Insurance
The cost of medical procedures is steadily rising. It will be difficult for you to get through
pregnancy without adequate planning. Although one should always pray for a simple and straightforward pregnancy, many variables are out of your control. Your savings will be quickly depleted in an emergency while pregnant.
Having the ideal maternity health insurance plan is essential. You can focus on caring for
your spouse or giving the new family member the time they need rather than being preoccupied with finding money all the time. Claims are subject to terms and conditions set forth under the health insurance policy.
You wouldn’t have to worry about the costs if you planned well and started early. Here is all the information you require regarding maternity insurance plan coverage.
- It offers network hospital health insurance benefits.
- Both pre-hospitalization, post-hospitalization coverage, OPD coverage, and health insurance of up to 60 days may be included.
- The plan includes costs like lodging, consulting, nursing, medicine, ambulance fees, etc. *
- It may cover prenatal and postpartum costs, complications during or after pregnancy,
and expenses associated with a vaginal or caesarean delivery.
Claims are subject to terms and conditions set forth under health insurance policy. *
Things To Consider
Here are some things to be aware of before you purchase health insurance for maternity
policy for your spouse.
- Waiting Period
Most insurers impose a waiting period before granting benefits for a particular illness. Pregnancy is not any different. Insurance companies typically have to wait 2 to 6 years
before filing claims. Therefore, it is advised to purchase one as soon as possible. Yes, there are some insurance policies with a 90-day waiting period. In any case, you may have to wait a certain amount of time. *
Compared to a health insurance plan, the maternity insurance plan’s premiums may be
slightly more expensive. However, considering all its advantages, you might be okay with paying the higher premium.
Most employers provide maternity benefits in their health insurance plans. There is no
need for a separate plan if you conduct a quick assessment and determine that it might be sufficient. You do not need to use your health insurance plan if you already have a health insurance plan through your employer that includes maternity benefits. Finally, apply for a cumulative bonus to reduce renewal costs significantly. Claims are subject to terms and conditions set forth under the health insurance policy. *
- IDV (Insured Declared Value)
Evaluate the Insured Declared Value, which represents the maximum amount payable
under an insurance policy in case of a claim. Understanding the IDV ensures that you have a clear picture of the coverage limits and can make an informed decision.
Consider the deductible, which is the initial amount you need to pay before the insurance coverage begins. Assess the deductible in the context of your budget and choose a plan that aligns with your financial capabilities.
Subscribe to Bajaj Allianz General Insurance YouTube Channel here!
*Standard T&C Apply
Insurance is the subject matter of solicitation. For more details on benefits, exclusions, limitations, terms, and conditions, please read the sales brochure/policy wording carefully before concluding a sale.