11 min read
Parenthood is one of the most important phases in the life of every couple, and it is important that you prepare well for this phase by investing in the best maternity insurance plans. A maternity insurance plan will not just cover your monetary needs during pregnancy, but will also allow you to enjoy the phase without any worries of delivery expenses, hospitalization costs, tests and all.
Let us analyze the various maternity insurance plans in this blog along with understanding the importance of having such a plan.
A maternity insurance is a policy that offer coverage for every expense related to pregnancy as per the set policy limit during the tenure of the plan. Depending on the insurance provider, some companies cover expenses for both pre and post natal treatment, as well as the expenses of the newly born child in pregnancy insurances.
Corporate insurance plans also offer maternity benefits to the female employees together with normal health insurance plans. In certain cases, the maternity benefit is added as a rider with a sub-limit.
The health insurance plans for maternity offer coverage for hospital room rent, nursing expenses, consultation fee, surgeon charges, and charges incurred on anesthetist, among others.
However, it is very crucial to have a careful understanding of the plan before purchasing so that you can make decisions accordingly and to use the plan in the best possible way.
|Insurance Plan||Waiting Period|
|Bharti AXA Smart Super Health Insurance||9 months|
|Care Joy Maternity Insurance Plan||9 months|
|SBI Arogya Premier Policy||9 months|
|Bajaj Allianz Health Guard Plan||24 to 48 months|
|Royal Sundaram Lifeline Health Insurance Plan||36 to 48 months|
|Digit Health Care Plus Policy||24 months|
|Niva Bupa Heartbeat Insurance Plan||24 months|
|Liberty HealthPrime Connect Plan||24 months|
|Aditya Birla Activ Health Enhanced Plan||24 – 36 months|
Parenthood is one of the most important phases in the life of every couple, and it is important that you prepare well for this phase by investing in the best maternity plans. A maternity insurance plan will not just cover your monetary needs during pregnancy, but will also allow to enjoy the phase without any worries of delivery expenses, hospitalization costs, tests and all.
Let us analyze the various maternity plans in this blog along with understanding the importance of having such a plan.
When it comes to buying a maternity plan, the basic question that needs to be addressed is regarding the right time to purchase a maternity policy. You may note that all maternity plans come with a waiting period that might range between 9 months to 48 months depending on the insurance company and the particular maternity plan. Thus, it is important to purchase a maternity plan beforehand looking at the waiting period and your requirements.
Maternity/pregnancy insurance plans also come with a high premium rate. This is because the expenses under maternity treatment are generally high and there is a certainty that claims would be filed. Hence insurers levy heavy charges. So, it is important for the policy seeker to do a detailed analysis of the cost levied and the benefits offered before buying a plan.
Also Read: Top 10 health insurance companies in india
|Maternity Insurance Key Features||Description|
|Things Covered||Hospitalisation expenses (including cost of drugs, room rent charges, specialist fees, etc.)
Pre- and post-hospitalisation expenses
Delivery expenses and Newborn Cover
Pre and Post-natal expenses
|Things Not Covered||Pre-existing diseases within the 4-Year waiting period
Illnesses/diseases contracted during the first 30 days
Non-allopathic treatment costs
Hospitalisation expenses as a result of a self-inflicted injury
Hospitalisation expenses arising as a result of drug/alcohol use
Treatment of congenital diseasesAesthetic treatments
Expenses arising as a result of treating AIDS/HIV
In-vitro fertilisation (IVF) or infertility treatment costs
Most maternity health insurance plans will only cover your maternity-related expenses after a period of 2 – 6 continuous policy years.
When you purchase your policy, you must select the sum insured amount. You can select the ideal sum insured, as long as it stays within the insurer’s established parameters. The amount insured will determine your premium rates. As a result, choosing a high insured amount will result in a high premium.
The cost of a health insurance plan that covers maternity costs will be higher than the cost of a standard plan. The amount insured, entry age, risk factors, location, and number of employees will all affect the premium rates (if it is a group policy).
*Please Note: Specific features and coverage limits will vary from policy to policy.
Also Read: Cancer hospital in india
Below are the things that are covered in health insurance with Maternity cover –
Also Read: Most dangerous disease
Below are the things that are not covered in maternity insurance policy –
Now, let us take a look at the different kinds of maternity insurance plans or different health plans offering maternity coverage.
Insurance Company~ Aditya Birla Health Insurance
As per the maternity benefits of this health plan, you get coverage for the medical expenses incurred for the new born baby, including expenses on any treatment after birth, immunizations, or any pregnancy complications leading to abortion of the fetus etc. Insured sum for this plan starts from 2 lakh rupees and goes up to 2 crore rupees with a dedicated sum allocated for pregnancy related as well as related to newly born child expenses.
Insurance Company~ Bajaj Allianz Health Insurance
This is an insurance plan for family offering coverage for maternity along with newly born child benefits as part of the Gold Health-Guard Plan. For this plan you can get sum assured between the range of 3 lakhs to 50 lakhs. The age of entry into this plan is within 18 to 65 years in case of elders, while it is counted from three months till the age of 30 years for children.
Insurance Company~ Bharti AXA Health Insurance
This policy is available in 3 variants namely:
Value plan offers Rs. 35,000 maternity cover and Rs.25,000 new born baby cover, which is available till the baby is 90 days old. This policy comes with a waiting time of 9 months and the benefits can be availed by opting for a plan with a 3 year policy term.
Classic Plan offers Rupees 50,000 protection on maternity and newborn baby expenses.
Uber plan offers higher maternity and newborn coverage of up to Rs. 75,000 in case of plans with sum assured ranging between Rs. 20 to Rs. 30 lakhs. If your plan ranges above that amount, the maternity benefit can be further high.
Insurance Company~ Care Health Insurance Company
This is another health insurance that covers pregnancy, and works best for couples willing to embrace parenthood soon. The waiting period for the policy is 9 months and the maternity benefits are available with the plan named ‘Joy Today’. For another plan named ‘Joy Tomorrow’, the waiting period is 2 years.
Insurance Company~ Cholamandalam MS Health Insurance
This is a floater plan offering maternity health insurance benefits. However, the waiting time here is 5 years. The coverage limit in the ‘Superior Variant’ of this plan is fixed at 15,000 rupees for normal delivery and 25,000 rupees for operation. In the ‘Advance Variant’, 25,000 rupees coverage is offered for normal delivery and for caesarean this amount is fixed at Rupees 40,000. You also get No-Bonus advantage with this plan of maximum 50 percent of the assured sum.
Insurance Company~ Go Digit Health Insurance
This plan offers the added benefit of maternity coverage. The expenses provided under maternity add-on include delivery charges, new born child cover, infertility cover, cover of missed abortion etc. Also, you get a 200% sum insured with this plan for the second child.
Insurance Company~ Edelweiss Health Insurance
Maternity cover in this plan is available under two options:
The plan has a waiting time that is 4 years. Thus, this plan suits couples who are not planning to have a child so soon. Here, you get coverage for up to 50,000 rupees and 2 lakh rupees for gold and platinum plan respectively.
Insurance Company~ Future Generali Health Insurance
This comprehensive medical plan covers for maternity, which can be availed after 2 years waiting time. The condition is that both the expecting mother and father has to be insured under this plan. The plan offer two options: 1) Superior 2) Premier under this plan. This plan offers coverage for as many as 15 members of a family. Sum assured varies between Rupees 15 lakh to 25 lakhs for the superior option, and from rupees Rs. 50 lakhs to rupees 1 crore for premier plan.
Insurance Company~ Kotak Mahindra Health Insurance
This is another comprehensive plan that covers for delivery and missed abortion expenses for first two children of the insured that are born during the term of the policy period. It cover pre-natal as well as post-natal costs, new born child’s expenses and vaccination charges of the child till 2 years of age.
Insurance Company~ Niva Bupa Health Insurance
This floater plan, available in three type, offer coverage for pregnancy and newborn baby expenses including vaccination. The three variants are namely:
All 3 types of pregnancy health insurance variants offer maternity benefits for the first two children of the insured couple, if they are insured for two consecutive years.
In addition to the above policies, there are other health insurance plans available with maternity cover benefits. Here are some names for your information:
For buying maternity health insurance, you must consider a few important factors. A maternity plan covers the expenses that arise during pregnancy, childbirth, and post-delivery expenses of a newborn baby. Buying a good plan will protect you against several other costs besides delivery such as medication, doctor visits, and other procedures. Here are the points that need consideration while choosing a maternity insurance plan.
1. Choosing the policy coverage wisely
Ensure that the policy purchased covers all maternity-related treatments. Since the various treatments under maternity are expensive, you can expect a hefty hospital bill to blow your savings. Hence, buying an all-inclusive maternity plan is advisable to cover costs during pregnancy and of the newborn for up to 90 days.
2. Carefully ensure the waiting period
Don’t forget to check the waiting period of your maternity policy. Most maternity health policies come with a long duration of waiting period. Hence, it is advised to check the waiting period so that the purpose of buying a maternity plan is fulfilled.
3. Check the sub-limits of the maternity plan
Many maternity health plans come with sub-limits, which means that the insurer will pay a particular amount of the expenses. So, if the claim amount exceeds that particular sum, the insured is likely to cover the rest of the amount from his/her pocket.
Almost all maternity health insurance plans offer cashless treatment at network hospitals. So, if the insured is admitted to a network hospital, he/she can avail of a cashless claim. However, if the insured is admitted to a non-network hospital, the insured is likely to make the payment at the time of discharge on their own. Later, they can raise a claim for reimbursement from the insurance company.
If due to an emergency or any reason the insured is unable to avail of treatment at a network hospital, they can go for reimbursement claims. For this, the insured has to submit a few documents as listed below:
Most insurance companies do not entertain your insurance application if you are already pregnant. Moreover, maternity insurance plans come with different waiting periods. So, it is important to consider all such possible aspects before purchasing a maternity plan. Further, it is also important to compare plans to check the ones that suit your needs accordingly.
You deserve the best of health insurance!
Answer a few simple questions to determine the ideal plan that suits you best at PayBima Health Advisory.
Browse Mahindra PayBima Blogs to read interesting posts related to Health Insurance, Car Insurance, Bike Insurance, Term Life Insurance, and Investment section. You can visit Mahindra PayBima to Buy Insurance Online.
In general, most insurance companies do not cover maternity, child birth and post-natal etc. under the regular health insurance plans. However, there are some companies that offer all inclusive plans covering maternity benefits. Further, some plans allow the insured to buy maternity benefits as an add-on feature.
Terming a particular policy as best is difficult as it depends on various things including your exact requirement of the policy. Every plan of maternity insurance has some or the other unique feature. However, it is not always necessary that each of the features suits your requirement. So, you can call a plan best when the features of the plan meet your needs.
Yes, maternity plans do cover cesarean delivery as well as normal delivery expenses under the plan.
Depending on the policy and the insurance company, the waiting period on maternity plans can be between 9 months to 6 years.
No, almost all maternity plans come with a certain waiting period.
PayBima is an Indian insurance aggregator on a mission to make insurance simple for people. PayBima is the Digital arm of the already established and trusted Mahindra Insurance Brokers Ltd., a reputed name in the insurance broking industry with 17 years of experience. PayBima promises you the easy-to-access online platform to buy insurance policies, and also extend their unrelented assistance with all your policy related queries and services.
Universal Health Coverage Day is observed every year on December 12 to make sure that people around the world can have access to high-quality health services.
The quality of air continues to deteriorate in India, especially in the northern region with the air quality index (AQI) in the critical category. This.
A vibrant land of cultural coalesce, India amuses the world with its unique values and diversity. The festivals play a significant role in this regard..
Insurance is an indispensable requirement. However, not everyone can afford individual medical insurance to stay covered against major uncertainties, especially after retirement. If that is.
Cancer is a disease that needs no introduction. We all know how deadly the disease is and how rapidly it is spreading across the world,.
Like in other products, GST is levied on health insurance policies too. But did you know that an NRI or non-resident Indian with a health.
Antibiotics are like marvels of medical sciences which have transformed the healthcare sector by limiting some of the deadly infections. From the earliest discovery of.
Speak to our advisor
Mahindra Insurance Brokers Limited (A Mahindra Group Company) - Unit-202, A-Wing, 2nd Floor, Amiti Building, Agastya Corporate Park, Kamani Junction, LBS Marg, Kurla West, Mumbai - 400070. Tel: +91 22 66423800
Licenced by IRDAI License No. 261; License Validity : 17-05-2025; Category : Composite Broker; CIN : U65990MH1987PLCO42609 Member of Insurance Brokers Association of India (IBAI).
Insurance is the subject matter of solicitation.
For a seamless experience, use the latest version of Chrome/Firefox/Internet Explorer.
Copyright © 2023 Mahindra Insurance Brokers. All Right Reserved.
Verify your number to activate your best premium offer
Please enter the OTP sent to XXXXXX 4099 to continue