A woman in her pregnancy is in a phase when utmost care and attention becomes crucial for safe motherhood. Regular visits to the doctor, medical tests, physical examinations, and finally, the delivery stage – all lead to significant expenses; which is why financial planning for parenthood should be a priority for married couples. Getting pregnancy insurance in India requires early planning since there is a waiting period to be kept in mind.
Many people are not aware that having adequate health insurance cover for maternity gives the much-required financial strength and enables them to access quality maternity care without stress about medical bills.
We share some valuable facts about pregnancy health insurance plans in India.
- There is a Waiting Period
The waiting period is the most crucial thing that anyone looking to get a maternity cover should remember. In India, it is only possible to get a pregnancy health insurance plan before pregnancy and not when a woman is already pregnant. Therefore, if one plans for motherhood, investing in a maternity cover should be the first step.
- You Can Choose Rider Option or a Separate Cover
Most family floater plans offer maternity cover as a rider. They usually come with a waiting period that could range from 3 to 6 years. Also, many insurers are now offering dedicated maternity insurance plans. These plans may come for a lower waiting period, which is an advantage. For instance, Joy by Care Health Insurance (formerly Religare Health Insurance) is a maternity plan available with a minimum waiting period of 9 months.
- Pregnancy Insurance offers Comprehensive Coverage
Some health insurance plans with maternity cover may cover only the delivery expenses. Hence, it is essential to compare various policies and choose one that provides comprehensive coverage. Ideally, a health insurance policy for pregnancy provides coverage for expenditures related to delivery, hospitalization costs, pre and post-natal expenses, and newborn baby cover.
- There are Exclusions You Must Check
Like any health policy, pregnancy insurance in India also has exclusions. Every policy buyer should take a close look at the policy documents and read about the expenses not covered in the policy. The list of exclusions may differ from one insurer to another. The exclusions include:
- Self-inflicted injuries
- Expenses related to infertility and in-vitro fertilization
- Non-allopathic treatment
- Medical condition attributed to alcohol or drugs
- Premium Increases
The premium of health insurance plans in India, including pregnancy covers, is decided on various factors, such as the sum insured. The age of the insured is another critical factor. Health insurance premium increases with age. Hence, to get affordable coverage with maximum benefits, one should consider prior planning and invest in the best maternity plan.
Maternity care in India is no longer affordable as hospitalization costs are increasing, especially in private hospitals. Further, the expenses related to caesarean delivery are relatively higher than normal delivery. So, while the parents-to-be focus on diet and health care for expecting mothers, they should also consider financial planning before welcoming their bundle of joy.