In today's day and age, maternity expenses are at an all time high. Many have very little idea about the best maternity insurance policy that covers pregnancy related medical expenses. We did a small survey among 100 couples and following were the findings-
- 37% of the couples had no idea about maternity insurance policy and used their savings for the medical procedures
- 13% of the couples were not interested in any plans because of the long wait period. Usually there are policies which do not let you claim for maternity until 2-6 years of buying the policy
- 50% of the couples inquired about maternity policy post 2 months of pregnancy and were left disappointed as they were not eligible.
List of Best Health Insurance with Maternity Cover
SBI - Arogya Premier Plan
- Wait Period : 9 months
- Limit for hospitalization expenses : No limit (can claim actual hospitalization expenses)
- Newborn baby expenses covered : Not Covered
- Sum Insured : 10 Lakhs
- Premium(Rs/year) : Rs.10,547/year
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Religare - Joy Today
- Wait Period : 9 months
- Limit for hospitalization expenses : Maximum Rs.50,000
- Newborn baby expenses covered : Maximum Rs.50,000
- PreNatal - 30 days
- Post Natal - 60 days
- Sum Insured - 5 lakhs (max)
- Premium(Rs/year)- Rs.70,895(premium for 3 years)
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Max Bupa - Heartbeat Individual Plan (Gold Plan)
- Wait Period : 2 years
- Limit for hospitalization expenses : Upto 10 lakhs. Sum insured Rs.70,000
- Newborn baby expenses covered : Covered upto sum insured upto renewal of policy
- PreNatal : 30 days
- Post Natal : 60 days
- Sum Insured : 10 Lakhs
- Premium(Rs/year) : Rs.15,320
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Star Health - Comprehensive Insurance Policy
- Wait Period : 3 years
- Limit for hospitalization expenses : Normal delivery - Rs.25,000(max) and C-section - Rs.40,000(max)
- Newborn baby expenses covered : Covered upto 90 days (Rs 1 lakh sum insured for baby separately)
- PreNatal : 30 days
- Post Natal : 60 days
- Sum Insured : Rs.10 Lakhs
- Premium(Rs/year): Rs.11,476
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Cigna TTK - Plus Plan
- Wait Period : 4 years (can be reduced to 2 years by paying extra premium)
- Limit for hospitalization expenses : Normal delivery - Rs.15,000(max) and C-section - Rs.25,000(max)
- Newborn baby expenses covered : Covered upto 90 days(inclusive in the limit amount mentioned above)
- PreNatal : 60 days
- Post Natal : 90 days
- Sum Insured : 10 Lakhs
- Premium(Rs/year) : Rs.10,889
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Apollo Munich - Easy Health Plan(Exclusive Plan)
- Wait Period : 6 years
- Limit for hospitalization expenses : Normal delivery - Rs.25,000(max) and C-section - Rs.40,000(max)
- Newborn baby expenses covered : Covered upto 90 days(inclusive in the limit amount mentioned above)
- PreNatal : 60 days
- Post Natal : 90 days
- Sum Insured : Rs. 10 Lakhs
- Premium(Rs/year): Rs. 12,067
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Bajaj Allianz - Health Guard (Gold Plan)
- Wait Period : 6 years
- Limit for hospitalization expenses : Normal delivery - Rs.25,000(max) and C-section - Rs.35,000(max)
- Newborn baby expenses covered : Covered upto 90 days(inclusive in the limit amount mentioned above)
- Pre Natal : 60 days
- Post Natal : 90 days
- Sum Insured : Rs.10 Lakhs
- Premium(Rs/year) : Rs.11,569
Overview on Maternity Insurance Policy
Maternity Insurance policy is a rider or an inbuilt feature of health insurance plans. It is not an independent or stand alone policy.
This policy provides some great benefits like single air conditioned private room, pre and post natal, ambulance allowance, maximum cover for maternity related procedures.
Important things to know about maternity insurance plan
WAITING PERIOD: This is nothing but a time period only after which the policy actually covers the expenses related to maternity.
Please note that companies offering maternity insurance may have different waiting period.
Suppose, Mrs.X takes a health insurance plan having maternity benefits with a waiting period of 9 months and if after 6 month she raises a claim related to maternity hospitalization, the insurance company will reject the claim. Waiting period is like a specific time interval only after which the company pays for the maternity expenses. So in this case Mrs.X's delivery should happen only after the wait period which 9 months.
COVERAGE : Pregnancy insurance plans cover hospitalization expenses as well as they cover expenses related to new born babies in few plans. These plans even provide cover for the new born babies for at least 90 days.
Maternity insurance policy even cover for vaccination expenses of the babies up to 1 year.
BENEFITS : Payment of premium in such policy will help in tax deduction under 80D
NATAL CARE : Maternity insurance policy covers prenatal and post natal expenses.
Pre natal expenses are expenses incurred on mother before the baby is born. Post natal expenses are expenses that take place after the delivery. Post natal include expenses after discharge from the hospital; it can be doctor’s fees for regular check-up, medications, etc.
Natal care expenses are covered for both mother and the baby.
LIMITS : There are limits specified in the policy contract regarding the expenses to be covered. There are different pre- determined limits for expenditures related to normal delivery and c-section delivery. Average costing for normal delivery goes to around 25000 and for c-section delivery goes around 200000.
Most of the policies cover maternity benefits for 2 pregnancies.
Ready to take insurance that covers pregnancy?
Team AFS will run the extra mile for you and make sure that you are not under financial stress during the maternity period. You can depend on us and focus only on the maternity procedure without thinking about maternity cover for related medical expenses. You can contact us and get the best plan with no hustle.