Complete guide on maternity health insurance, coverage, and benefits 27th December 2022
A maternity health insurance offers financial support for childbirth. It pays for a hospital stay for a natural birth or a C-section. The insurance covers the delivery and baby care up to a certain number of days in the hospital.
Purchasing maternity insurance online offers the following advantages:
1. Time-saving and hassle-free buy.
2. A quick-click option to compare insurance policies.
3. Online promotions like coupons, points, etc., one can save money while making a purchase.
4. There are no agent commissions because insurance companies or aggregators also sell products online directly. As a result, online maternity insurance is less expensive.
5. You can purchase the maternity insurance plan from the convenience of your home or workplace.
Terms and conditions for maternity insurance:
1. The maternity benefit will expire along with the base plan.
2. India's Insurance Regulatory and Development Authority has set rules to change the benefit amount.
3. Maternity insurance benefits are available only in India.
4. The claim will be paid out in Indian rupees.
5. There will be a set number of days of waiting before one can use maternity benefits
Add on covers for maternity insurance:
The maternity insurance itself is available as an add-on to the base plan. The basic plan is regular health insurance coverage that provides financial protection in a medical emergency. It pays for hospital bills as well as other healthcare-related costs.
Maternity health insurance eligibility requirements:
● The exit age has been set by certain insurers at 45 years of age, with the entry age being 18 years.
● Some insurance providers allow the maximum number of maternity claims for two children. If you lose something, there can be exceptions.
Required paperwork to support a maternity claim:
● ID verification and a discharge summary
● A claim form, a health insurance policy
● Pre-authorisation document for claims involving cashless payments
● Prescriptions for drugs and other products
● Any other paperwork that the insurance provider may ask
What is the procedure for filing a claim for maternity benefits?
Cashless claim:
For a cashless claim, the birth must occur in a network hospital. The insurer must be aware of the claim at admission to a network hospital. The policyholder only needs to pay a small amount toward deductibles after the claim is authorised, and nothing further is necessary. The insurance provider will handle all additional costs immediately.
Reimbursement claims:
For such claims, the policyholder is not required to receive treatment at a network hospital. You may use any hospital of the insured's choosing for delivery. To file a reimbursement claim, the policyholder must maintain a record of all relevant paperwork and invoices
Why should you purchase maternity health insurance?
1. Financial support:
In some regions of India, the cost of giving birth and having a baby can range from 50,000 to 100,000 rupees. One can assume that if a woman buys pregnancy insurance, she and her baby will have access to better medical facilities with the support of maternity health insurance.
2. Surgical deliveries are expensive:
Natural birth can be hard on both the mother and the baby, which is why a surgical or cesarean delivery is sometimes needed. In this situation, the baby is delivered by major abdominal surgery. A natural delivery is substantially less expensive than a cesarean section. The mediclaim policy with maternity coverage may pay for these expenses.
This add-on of health insurance ensures peace of mind for the parents. Once the cost of a maternity cover is offset, expecting parents may concentrate on savouring this significant life event. You can make plans for the baby's name, nursery design, baby welcome celebration, and much more with a clear head. Consider purchasing this useful and efficient add-on cover to make your parenting time more memorable and stress-free.
Click HERE to buy the health insurance policy for new parents
Disclaimer: The information provided above is for illustrative purposes only. To get more details, please refer to policy wordings and prospectus before purchasing a policy.