⁠Things You Might Not Know About Maternity Insurance

Maternity insurance sounds like a simple plan, something that will cover your delivery. But is that it? The answer is no. There are several lesser-known clauses, including waiting periods, sublimits, and more. From delivery room charges to OPD coverage insurance, you should know your coverage and what to expect. 

So, buckle your seatbelts and stay tuned as we help you explore maternity insurance in detail, things you might not know, and much more. 

Maternity Insurance: Things to Look Out for

Here are some overlooked but important aspects of maternity insurance you might watch out for. 

How Long is the Waiting Period 

Typically, maternity policies have a waiting period that can range from 9 months to 6 years. This means during this period, you cannot claim any pregnancy-related medical expenses. This is one of the reasons why you should plan and purchase a maternity policy in advance. This ensures you've adequate coverage when you need it the most. 

Sub-Limits on Your Medical Expenses

Well, when you hear of maternity plans, you might assume they cover all the expenses related to your pregnancy. But that might not be the complete truth. Typically, maternity plans have sub-limits; consider them as capping limits. Say, ₹25,000 or a certain per cent of the sum insured for room rent, diagnostics, etc. Any expenses beyond these charges are to be covered by you. 

Lower sub-limits are often equivalent to lower premiums. However, these might make the whole process costlier when the time comes. So, keep an eye on the sub-limits and choose a plan accordingly. 

Do Not Ignore the Policy Exclusions and Inclusions

One of the common mistakes that people make when buying a maternity policy is ignoring its fine print. Or simply not understanding what is excluded and included in your policy. As mentioned, with maternity insurance, people generally think everything is covered. However, that might not be true. 

It generally covers delivery expenses, like in-hospitalisation, caesarean section, newborn baby expenses, pre- and post-natal charges, and more. However, add-ons like fertility procedures, IVF expenses might not be included in your base plan. This may differ from insurer to insurer. Make sure to check the plan, and understand its inclusions and exclusions to avoid last-minute hassle. 

Is Your Newborn Covered

Another thing to consider in your maternity plans is whether they provide coverage for your newborn. Generally, vaccination expenses are covered. However, for most plans, coverage is offered for 90 days. After that, you may need to purchase an individual plan for your child or include them in your existing family floater plan. 

Consider Pre-Existing Diseases Too

If you're struggling with a pre-existing health concern, be sure to declare it when purchasing the policy. Several maternity insurances exclude or might limit coverage for complications caused by these PEDs, such as blood pressure, cholesterol, etc. Therefore, it is important to disclose your PED honestly to avoid chances of claim rejections. Also, ensure that you review and understand the clauses related to pre-existing conditions in your maternity plan. 

Why Choose Maternity Insurance?

Here are some compelling benefits of maternity plans, showing whether they are worth it. 

Helps as a Financial Net

Maternity insurance helps absorb a major chunk of pregnancy-related bills like hospitalisation expenses, OPD coverage insurance, diagnostics, and more, during times when medical bills are skyrocketing. 

Secure Your Little One

Some maternity insurance plans also cover the baby for the initial 90 days, including vaccination expenses. 

Peace of Mind 

If this is your first time expecting a baby, then you already have a lot to be stressed about as parents. The name, the baby room, clothes, and much more. Amidst all this planning, having maternity insurance ensures you reduce one thing from your list of worries and invest in planning things that bring you joy.