What you should look for in a maternity cover

Maternity is a very special event in every woman’s life. However, in today’s scenario, with medical expenses sky-rocketing, the process of childbirth has become very expensive. Hence, it is advisable for every woman to plan her maternity in advance and make it hassle-free with the aid of health insurance. It is always prudent to be financially secure and prepared against any eventuality even during maternity.

It has been noticed that the proportion of LSCS (Caesarian Section) cases is increasing when compared to the normal delivery cases due to erratic lifestyle. The ratio today stands at 65:35. This has a direct impact on costs that are rising significantly. Therefore, to manage the rising costs associated with pregnancy, it is important to find out whether one has maternity coverage. General insurance companies usually cover maternity under their group health schemes. Insurers today have also introduced relevant riders in health products offered by them and maternity cover is one among them.

Maternity health insurance plans are designed to cover both Caesarean as well as normal births, including pre-mature births. Most people already have an existing health insurance plan. It is important for the insurer to find out if it covers maternity health. There are a few things that one should keep in mind before opting for the maternity cover. One should check whether the company offers maternity in its group insurance plan. Most of the companies cover employees under a group plan and, hence, this is the best option. Most group health insurance policies offered by employers cover maternity expenses up to a limit. While taking an individual policy, women should check if it covers maternity. One should check for four essential things.

First, one should look for the waiting period applicable for claiming maternity expenses; second, they should check the sub-limit; third, they should see whether the cover provides outpatient expenses related to maternity; and fourth, they should always check if there is any specific exclusion related to the cover. Before buying a health policy, women need to ascertain the cover is included in it. In a majority of corporate group policies, maternity cover is an add-on benefit, mostly with a sub-limit not exceeding 50,000. However, in a majority of the corporate policies pre-post natal care expenses are not covered. Some corporates also opt for a cover called ’baby day one cover’, which essentially covers any expense incurred on the treatment of a new-born.

Source : ET