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5 Things you should know About Best Maternity Health Insurance Plan
- DetailsWritten by PolicyBazaar -
- Hits : 4754 -
Modified 21 November 2017
Motherhood is nothing less than bliss. Though this stage of life brings lots of changes in a woman’s life, it does make her feel complete. Recent trends show that these days, women delay motherhood due to juggling between their career and life; therefore, they face a number of complications during their pregnancy. These complications are also prevalent due to lifestyle, surrounding stress, and delayed pregnancy.
Motherhood and Related Expenses
Motherhood comes with so many expenses and responsibilities at the same time. Responsibilities and expenses start from day one when you come to know that you are expecting a baby and it never ends. The total cost could push you in a trouble if you are not prepared or do not have a financial backup. For all these reasons, you need to have a good financial backup.
I’m sure you are looking for a solution that can build a financial backup for this particular stage of your life. Read this article and you will come to know that how health insurance with maternity cover can solve this problem effectively.
Importance of Health Insurance Policy with Maternity Coverage
Health insurance policies offer coverage to you by covering the medical expenses and offer a wide range of benefits. When you are looking for a health insurance policy for your woman, it is very important to include maternity coverage in that health insurance policy. This coverage bears the cost of normal pregnancy, labor, and delivery. A comprehensive health insurance policy also covers the newborn and other related expenses.
Medical facilities and childbirth in a good hospital have become quite expensive these days. It is not possible for everyone to bear such a huge amount during delivery. If you wish to get the best maternity services for your wife without any financial stress, then make sure to opt for maternity coverage, as this will bear all the expenses incurred due to pregnancy.
Read below some important things that you should know before buying maternity insurance plan:
A health insurance plan that offers maternity benefits includes all the expenses listed below. However, the degree of coverage may vary with different policies and different insurers.
Pre and Post Hospitalization Expenses
The policy provides coverage against expenses incurred before hospitalization of the insured person. Post hospitalization coverage means the policy would take care of the newborn and mother post delivery.
Pre and Postnatal Expenses
This coverage bears the cost of childcare, which includes doctor’s consultation fees as well as the medication cost.
Delivery Charges and Inpatient Hospitalization
The hospitalization charges incurred for delivery are totally taken care of under this coverage. The sum insured of the policy may differ under different policies.
Some health insurance policies also offer coverage for the expenses incurred due to the mandatory vaccination of the newborn. Most of the health insurance policies offer this coverage for one year only, but some plans extend it for up to 12 years.
Some health insurance policies offer health coverage for the newborn, which includes important care and expenses related to the same right from the birth time.
|You may also like to Read: Top 5 Maternity Insurance Plans|
Now is the Time to know when to Buy Maternity Coverage?
Here is the Answer.
If you are thinking when the right time to buy a maternity cover is, then the answer is nothing but as early as possible. Do not delay in opting for this coverage when you plan to have a baby. There are various glitches in availing maternity benefits at the right time. Check out some below:
1. Waiting Period and Pre-Existing Clause
A waiting period is a specific period of time during which you cannot avail maternity coverage under your health insurance policy. Health insurance policies do not provide maternity coverage when the policy is bought, though. They provide this coverage after 2 to 6 years. This is known as the waiting period for maternity coverage. In addition, you are not eligible to avail a new maternity coverage plan if you are already pregnant. In that case, pregnancy would be considered as a pre-existing condition and would not be covered under maternity coverage. To avail this coverage, make sure you are covered by a policy 2 years before planning to conceive a child.
2. Hike in Premiums with Age and Time
This is a bitter truth that the premium of maternity coverage increases with the age. In case you delay to avail this insurance coverage, you would have to pay a higher premium to get all the benefits of maternity coverage. In addition, expenses related to motherhood and child care are increasing day by day. Therefore, if you delay, you might not be able to opt for an affordable maternity plan.
If you are planning to buy a maternity coverage plan, now is the best time to get one. Or, if you got married recently and now planning to have a child in the next a few years, then do not delay in buying this coverage. Make sure you opt for a comprehensive health insurance plan that offers maternity coverage at an affordable premium.
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