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Maternity insurance is a health insurance plan that covers pregnancy-related medical treatment and hospitalisation costs. It can be availed as cashless claims and online in a simple, user-friendly, less time-consuming process.
Building relationships and expanding as a family is a joy for life forever. While planning for a pregnancy, you focus on taking care of your health and regular medical check-ups. While monitoring your health is crucial, equally important is your financial preparedness!
Maternity-related costs and the treatment for unexpected complications during pregnancy are indispensable. One of the finest decisions to secure finances for your pregnancy can be purchasing a maternity health insurance plan in India.
It offers wide-ranging benefits, and saves the to-be parents from last-minute financial stress. Here is what you need to know about the benefits of maternity insurance.
What Is Maternity Insurance?
Maternity insurance is a health insurance plan that covers maternity or pregnancy-related medical expenses. It can cover wide-ranging expenses such as delivery procedures, pre and post-natal care, hospitalisation, etc.
It can be availed as a health insurance plan inclusive of maternity insurance coverage or as an additional cover or rider^ under a standard health insurance plan based on the individual insurance provider's policy conditions.
Furthermore, it is important to note that the maternity insurance benefits will apply after a certain waiting period, that is specific to individual insurance providers.
Benefits Of Maternity Insurance For Pregnant Offers
Comprehensive Coverage
Maternity health insurance offers comprehensive coverage that can help you cover the expenses related to your pregnancy. It is a financial security that can help you recover faster and prepare for better parenthood.
It can cover the following expenses:
- Maternity-related hospitalisation - The hospitalisation expenses related to your maternity can be covered up to 30 days before and 60 days post-delivery. It can include room, medical practitioner, nurse and surgeon, emergency ambulance charges, etc.
- Delivery expenses - A standard or a caesarean delivery procedure can cost you anywhere between ₹60,000 to ₹2,00,000. A pregnancy insurance policy with adequate coverage can help you manage these expenses timely and focus better on your newborn’s care.
- Pre and post-natal care - The healthcare facilities associated with the mother and the newborn are included in maternity insurance. It can cover the medical bills for the newborn, such as vaccination, treatment for health complications or diseases, etc.
- Treatment costs for pregnancy-related complications - Pregnancy-related complications can arise for several reasons and can be specific to every woman. For example, it can be gestational diabetes, miscarriages, preterm labour, medically necessary terminations, etc.
A standard health insurance plan may not cover the expenses related to such pregnancy-related complications. You can avail of the financial support required to pay for the necessary treatment towards such complications with the hassle-free claim processes of the pregnancy insurance policy. - Long-term coverage - Maternity health insurance coverage can be utilised to pay for the medical expenses if you plan for a second child, subject to the policy conditions.
Provides Flexibility in Claim Processes
When claiming the maternity benefits insurance, you can choose between the cashless claim and the reimbursement claim options.
- Cashless claims - When availing cashless claims, you can get treated in any of the network hospitals provided by your insurance provider, and they will directly settle the claims to the hospital authorities. It is a simple and hassle-free claim settlement option.
- Reimbursement claims - If you want to get treated for your pregnancy in a hospital of your choice, you can avail of the healthcare services, pay for them, and get them reimbursed later.
Online Purchase and Claim Settlement Process
Maternity insurance plans are available online. You can research the features, inclusions and exclusions, benefits, and costs to compare and choose the best maternity insurance for your requirements. Furthermore, you can avail of the financial assistance by initiating a claim online. It is simple, less time-consuming, and highly cost-effective.
Applicable for tax* benefits
The annual premium paid for a health insurance policy qualifies for a tax* deduction under the ITA. It helps in reducing the taxable income and the overall income tax* liability.
Conclusion
Maternity insurance is a vital financial safeguard to help manage pregnancy-related medical expenses. It can benefit you by providing comprehensive coverage for your maternity-related hospitalisation expenses, pre and post-natal care, and charges for delivery procedures. Furthermore, you can avail of flexible claim processes, benefit from online procedures, and save on tax. So, if you are planning for pregnancy, maternity insurance coverage is essential for your health and well-being during the transformative phases of your life!
