Health always has a prime importance in your life, whether you are young or old. Prudent individuals often translate this care into something more tangible using an insurance policy. To add to it, the rising cost of healthcare expenditure makes it imperative to have an option to fallback on. All these needs which are more of a necessity in today’s day and age are checked off using a health insurance policy.
As you move ahead in life, you start to shoulder more responsibilities, be it your parents or your spouse. If you wish to start your own family and have children, then this is the time when taking up maternity coverage in addition to your base insurance policy can come handy. Let us look at the essential questions to address when buying maternity coverage:
When should I purchase a maternity cover?
Maternity insurance covers have longer waiting periods. Waiting period is that duration for which the insurance company does not provide any benefits under the plan. These long waiting periods are generally between 24 months to 48 months. Thus, it is advisable you purchase maternity coverage right after marriage. Since couples normally wait for a few years before having a child, buying this insurance cover immediately after marriage ensures there isn’t too much gap between the pregnancy gestation period and getting the maternity insurance cover.
What is the coverage of my maternity insurance cover?
Having maternity coverage can be beneficial in both types of birth, whether natural and caesarean. The advantage of this additional cover is reduced out-of-pocket expenses and coverage for pre and post hospitalisation costs. In some instances, complications might arise during labour and postnatal care. These treatments are also included under the policy coverage.
What are omissions to note from my maternity cover?
The maternity coverage shall not be applicable if the policy is purchased when the mother is already expecting a child. Moreover, if pregnancy is detected before the completion of the waiting period, no coverage is extended by the insurance company in that case.
Is maternity cover included as standard in my health insurance plan?
No, maternity cover is not included by default in your health insurance policy. You need to purchase this additional rider by paying additional premium. Although it is an expense over and above the normal premium, the benefits offered are far more than its cost. So, if you are someone who plans in the long run to start a family, it is advisable to purchase this add-on with your family health insurance policy.
Are congenital diseases covered under maternity cover?
Infants with abnormality, deformity, illness, or a medical condition requiring medical attention is called congenital disease. Some insurance companies include its coverage in their maternity insurance cover, however, it varies among different insurance companies.
Can a claim be denied?
Some insurer’s specify a particular age upto which they offer coverage. More commonly, when there is a late pregnancy after the age of 35. However, these conditions are stated in your policy document that should be read thoroughly.
These are some essential questions that can help you purchase a suitable maternity cover. From the various types of health insurance plans for family, make the right choice depending on the coverage when combined with your maternity cover. So, be wise and make the right move to insure the maternity costs of childbirth.
