Today, when medical costs have increased so much, it has become very important to get a health insurance. When it comes to family planning and pregnancy, one more important aspect comes into the picture – Best Health Insurance With Maternity Benefits. Health Insurance With Maternity Benefits can be very beneficial for couples planning for a baby in the future. In today’s time, maternity expenses have also become quite high, if you have the right insurance plan, then this burden will be reduced considerably.
In this article, we will explain in detail in easy language which points should be kept in mind while choosing a health insurance policy with maternity benefits. We will guide you step-by-step in beginner-friendly language so that you can make the best decision for yourself.
What is Maternity Benefit Health Insurance?
Maternity benefit health insurance is a health insurance plan that covers medical expenses of pregnancy, delivery, and newborn baby. Maternity coverage is usually not included in normal health insurance plans. That is why you have to take this special plan or you can add it as an add-on to your health insurance policy.
Its major coverage includes: – Delivery expenses (normal or C-section) – Pre and post hospitalization expenses – Doctor’s consultation – Medicines and diagnostic tests – Newborn baby cover (some policies also include baby’s medical expenses up to a certain period).
Why is insurance with maternity benefits necessary?
- High hospital costs – The cost of delivery in private hospitals is quite high. According to reports of Moneycontrol and Mangalore Mirror, the average cost of a normal delivery is ₹45,000–₹55,000, and the cost of a C-section delivery can be up to ₹70,000–₹2,00,000. Without insurance, you have to pay this burden from your pocket.
- Cashless facility – In cashless facility, you do not have to pay any upfront cost and the insurer settles the bill directly with the hospital..
- Coverage of both mother and child – This is a big advantage, because both mother and newborn baby are covered in a single policy.
- Peace of mind – You are able to focus on your health because there is no financial burden during pregnancy.
How to Choose the Best Health Insurance with Maternity Benefits?
When you select a plan, many points are important. Let’s see step by step:
1. check waiting period
Most maternity insurance plans have a waiting period of 2 to 4 years. According to India Today, some policies have a minimum of 9 months and can be extended up to a maximum of 6 years. Meaning, if you buy the policy now, you will get its benefits only when the waiting period is completed. – If you are planning a family in the near future, it would be better to buy the policy early.
– Choosing a policy with a shorter waiting period is the best option.
2. Understand about Sum Insured
In simple words, sum insured is the maximum amount that the insurance company will pay. Maternity expenses can be quite high, so it is advisable to take a minimum cover of 5 lakhs or more. According to a News18 report, 70% of companies in Bengaluru offer sum insured of more than 5 lakhs to their employees.
3. See maternity limit
Some policies have a sub-limit on maternity coverage. According to a study by Moneycontrol, the maternity benefit of most companies is around ₹50,000. Only 15% “new-age” companies provide maternity cover up to ₹1–1.25 lakh. Do check this limit while selecting a policy so that your expected hospital expenses are easily covered.
4. Newborn Baby Cover
This is a useful feature which is helpful for parents. The best health insurance with maternity benefits will be the one which also covers the newborn baby. Some policies include vaccination and hospitalization of the baby for up to 90 days.
5. Cashless Hospital Network
It is important to check which hospitals in your city or nearby area are in the network of the insurance company. If there is a wide hospital network, you will get the benefit of cashless treatment without the tension of paperwork.
6. Pre and Post-Natal Expenses
It is important to check whether the policy includes regular check-ups, ultrasound, tests and medicines to be taken during pregnancy or not. The best policy would be the one that covers all these.
7. Premium Affordability
The amount of premium should be according to your budget. Compare and see which company has the best premium vs benefits ratio. Paying a little more premium is also okay if the benefits are comprehensive.
8. Read Exclusions Carefully
The terms and conditions of each policy are different. You should see clearly what is excluded in the policy. Example: IVF treatments or pre-existing pregnancy are usually not covered.
Top Tips for Choosing Best Health Insurance With Maternity Benefits
- Take the policy in the early stage of marriage. The waiting period will be completed automatically.
- Compare 3-4 insurance providers before finalizing.
- If possible, take a family floater plan in which maternity add-on is available.
- Do check the claim settlement ratio of the company. It is safe to choose a company with a high ratio.
- Check out customer service reviews to ensure a smooth claim process.
Common Mistakes to Avoid
- Buying a policy just by looking at the premium – do not ignore the benefits and exclusions. A low premium does not mean a good policy.
- Taking a last minute policy – A policy taken at the time of pregnancy is not useful, as there is a waiting period.
- Ignoring sub-limits – Hospital expenses can be high, so always check the sub-limits.
- Ignoring the reputation of the company – If the claim settlement of a company with low premium is the same, then you may face problems.
Real-Life Example
A couple took a maternity benefit policy immediately after marriage which had a waiting period of 3 years. When their family planning started, the waiting period was over. The total expenses of their delivery were around ₹1.5 lakh, of which insurance covered the majority. If they had taken the policy late, they would have had to bear the entire expense themselves.
This example shows how important it is to take the policy timely.
Best Companies Offering Maternity Benefit Plans in India
(Names only for awareness, The final choice should always be based on your preferences)
- Star Health Insurance
- Niva Bupa (Max Bupa)
- Care Health Insurance
- ICICI Lombard
- HDFC Ergo
These companies offer maternity benefit plans with different waiting periods and sub-limits. Always read the terms and conditions carefully.
Conclusion
Pregnancy is a beautiful journey but it also comes with financial responsibility. If you choose wisely, you will not have to stress over medical expenses.
The Best Health Insurance With Maternity Benefits will be the one that is within your budget, has a manageable waiting period, and provides comprehensive coverage for both mother and child. Early planning is most important. Compare your options today and choose a policy for a secure and stress-free maternity experience.