Pregnancy is a transformative journey filled with hope, anticipation, and new responsibilities. As joyful as it is, it also brings a range of medical, emotional, and financial challenges. Maternity insurance plays a crucial role in easing this transition by providing financial support and access to quality healthcare before, during, and after childbirth. In this guide, we will explore the necessity of getting maternity insurance for a safe pregnancy.
What are the Benefits of Buying Pregnancy Insurance?
Purchasing maternity insurance is essential for to-be-parents for various reasons. Let us discuss a few here in detail:
Financial Assistance
- Maternity insurance covers all expenses that have been incurred during normal or caesarean delivery. Irrespective of the form of medical treatment that you are undergoing, having a policy frees you from the financial burden of any unexpected events.
- Coverage of Newborn’s Expenses
Maternal insurance plans cover the expenses of the newborn since the day of birth. It includes various expenses, such as any medical emergencies and vaccinations.
- Coverage of the Cost of Delivery
Buying a women’s care insurance plan provides financial security during pregnancy for prenatal and postnatal care. These expenses can be classified as ambulance charges and delivery expenses, irrespective of whether it is a normal or caesarean delivery.
- Support for Family Planning
If you plan to expand your family, maternity insurance covers subsequent pregnancies. This allows you to focus on preparing a nurturing environment for the coming babies.
What are the Key Features of Buying Maternity Insurance Online?
The main advantages of buying maternity insurance are:
· Smooth Experience
Gone are the days when you had to stand in a queue to buy insurance. The process of applying for and buying maternity insurance through an online platform is a seamless experience for interested individuals.
· Personalised to Meet Your Needs
Through an online platform, you have the liberty to customise your maternity insurance plan as you consider best. You can choose if you have any specific requirements, such as prenatal assistance, delivery charges, or postnatal services.
· Better Comparison
Buying maternity insurance over an online platform gives you the ease of comparing policies among different insurance providers. You can also carry out selected comparisons on specific requirements such as coverage, premiums, and additional benefits.
· Unambiguous Information
During traditional insurance times, the lengthy policy used to be overwhelming, making interested individuals lose interest in reading the document. This creates room for misinformation and confusion. These situations are avoidable with easy access to information and assistance at any time.
· 24*7 Accessibility
Information about natal emergencies is available around the clock through insurance providers. Any assistance regarding gathering information, making inquiries, or buying insurance is just one click away.
When is the Right Time to Buy Maternity Insurance?
The right time for considering buying maternity insurance is:
- Early Family Planning: Get maternity insurance soon after you have made up your mind to start a family. It is an active approach to cover pregnancy expenses due to any medical emergencies.
- Precautions against Complications: It is optimistic to hope that the pregnancy phase goes smoothly. However, it is always wise to prepare for unforeseen circumstances. Medical insurance provides coverage for such emergencies by typically covering expenses.
- Expense Support: This includes expenses like pre-natal consultations and hospitalisation expenses, as well as delivery charges. Maternity insurance often covers these expenses, letting you prioritise the well-being of both the mother and the baby.
- Supplement for Workplace Gaps: Another advantage of buying maternity insurance is filling in gaps at the workplace if your employer’s maternity benefits expire. It is a supplementary plan that offers coverage even if you have workplace limitations.
What are the Eligibility Criteria for Claiming Maternity Insurance?
There are some eligibility criteria that you need to fulfil when you plan to claim maternity insurance. This will make the process seamless and ensure that you avail all benefits:
- Premium Payments: To ensure that you receive coverage for all your maternity expenses, timely payment of premium payments is essential. If you fail to pay a premium for the period, the policy will lapse and lead to a loss of coverage.
- Policyholder Status: Check your policy status because maternity insurance covers only the expenses of the primary holder or dependents on health. Being aware of these clauses is crucial to ensure your eligibility.
- Waiting Period: After purchasing a maternity insurance policy, you can avail of maternity benefits after a certain period, which is known as a waiting period. This waiting period may range from a couple of months to a few years.
- Age Requirement: There is an age limit for applying for maternity insurance. Usually, this age limit ranges from 18 to 45. Females in this age group are eligible to enrol in maternity health insurance.
- Medical History: Some policy providers have a separate list of criteria regarding pre-insurance history. Therefore, discuss this matter with your policy provider. If you have a medical condition, there will be additional scrutiny that may lead to ineligibility.
What Factors Does Maternity Insurance Exclude?
Let us know about some of the common exclusions from the maternity insurance plans:
- Multiple Births: There might be a limit on the number of babies that maternity insurance covers in one pregnancy. So, reach out to your policy providers to know if there are any exclusions.
- Pre-existing Conditions: If you buy insurance post-pregnancy, your prenatal expenses might disqualify you for coverage. Therefore, it is wise to buy maternity insurance before starting a family.
- Non-medical Expenses: Maternity insurance covers all natal expenses. However, these expenses do not include the cost of diapers, baby clothes and food. Go through the policy document thoroughly to understand the coverage of expenses.
- Late Enrolment: Many insurance providers have certain restrictions on the application process for maternity insurance after conception.
Conclusion
The process of buying the right maternity insurance the traditional way might be hectic due to the innumerable options. However, online insurance providers make the process seamless.