Private Health Insurance For Pregnancy No Waiting Periods – If you are planning to have a baby in the near future, your first responsibility should be to plan your finances for the important time, especially the medical expenses during and after pregnancy.

Going by the trend, healthcare costs in India are increasing at an alarming rate. Additionally, our rising income levels have failed to keep up with rising medical inflation.

Private Health Insurance For Pregnancy No Waiting Periods

Private Health Insurance For Pregnancy No Waiting Periods

Therefore, it becomes even more important to understand and plan for including maternity benefits in your health insurance plan.

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As I mentioned above, the rising medical costs associated with pregnancy can easily burn a hole in your pocket.

Speaking from my personal experience, when my child was born, I spent Rs 40,000 in an ordinary private nursing home. That was 2018, also in a second-tier city.

Additionally, there are various pre- and post-hospitalization expenses such as diagnostic tests, rent, ambulance charges, immunizations, medications, etc.

Maternity insurance is a plan designed to cover medical expenses related to pregnancy.

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You can choose this when purchasing health insurance or you can pay an additional premium after purchasing health insurance.

But it should be remembered that almost all maternity insurance policies purchased as part of individual/family floater/group plans have a waiting period of 24 to 48 months.

There are certain parameters that you should pay attention to when purchasing maternity benefits as part of a health insurance policy.

Private Health Insurance For Pregnancy No Waiting Periods

All health insurance policies that offer maternity benefits have limits on the maximum payout that can be claimed. The limit can be a fixed amount or linked to the total sum insured.

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But the actual cost of delivery and other related expenses can go up to Rs 1,00,000, especially if you live in a metro and opt for a corporate hospital.

All maternity plans have strict waiting periods, ranging from 24 months to 48 months, sometimes even longer. However, some insurance companies also have shorter waiting periods. For example – Religare Health Insurance has a plan where the waiting period is only 9 months.

But for employer-purchased group health insurance plans, this waiting period can be reduced/removed by paying some additional premium.

From my personal experience, my employer has a group plan with ICICI Lombard that provides no waiting period for maternity benefits and covers children from day one. Needless to say, the company pays an additional premium for this benefit. Overall, you will usually find that when it comes to group health insurance, you can negotiate better coverage terms because of the considerable premiums involved.

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Different companies may offer different maternity coverage options as part of a health insurance plan.

For example, some companies provide coverage for newborns, termination of pregnancy, related pregnancy complications, and prenatal and postpartum expenses from day one.

Also, check whether the plan covers both types of delivery and any other terms and conditions relevant to your claim.

Private Health Insurance For Pregnancy No Waiting Periods

As the industry evolves, providers offer new coverages, as described below. When you buy a policy, be sure to pay attention to these.

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Hospital insurance – Many insurance companies offer a daily hospital benefit. In some policies, even rent and ICU expenses are covered.

Ambulance Cost – You can get ambulance cover which can be a fixed amount or based on a percentage of the sum insured.

Cashless Facility – Prefer policies that have a good network of hospitals in your city and offer cashless facilities. I didn’t use the cashless facility and had to make a claim later. Trust me, the paperwork is a pain and most hospitals are not friendly enough to help you with the multiple procedures.

You already know that the maternity rider is an add-on that comes with the basic plan. But the maternity rider should not be your only criterion when choosing health insurance.

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Instead, your focus should be on your basic insurance plan, whether it’s personal insurance or family floater insurance. Also evaluate all other benefits of the policy, since the majority of your premium goes towards the base plan.

When comparing maternity add-on plans, you have to focus on the waiting period. Also, look for sub-limits for different medical expenses related to pregnancy.

Tushar Jain is a personal finance enthusiast who loves talking about money, saving, investing and spending. He blogs about financial wisdom and income-growing habits at Contact him to say hi.

Private Health Insurance For Pregnancy No Waiting Periods

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(Disclaimer: e/ is not biased towards any insurance company. The examples given in the blog are for the user’s information only)

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Find the best health insurance plans with maternity benefits and know all the pros and cons of maternity insurance plans

So while the news of impending parenthood is indeed a time for celebration, it also breeds responsibility. Otherwise, why do you think Family Planning is a critical stepping stone before reaching the milestone of parenthood?

Private Health Insurance For Pregnancy No Waiting Periods

Family planning is probably the most established method of measuring a couple’s physical, mental, and financial health. While your doctor can help you with the first two factors, the latter factor will require significant financial resources to help you through, as childbirth is anything but cheap.

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Add to this the private nursing homes and hospitals going to great lengths to increase bill amounts to mind-boggling figures.

So, how do you deal with this problem? How can you achieve your dream of parenthood without the financial burden? Well, you can always opt for maternity insurance.

To be honest, this policy comes with some hurdles that need to be weighed against the professionals on offer, but for some, this pregnancy insurance is an affordable financial solution. Take a look at all the coverages offered, the challenges you need to be aware of, and the best plans available on the market.

Maternity health insurance is a financial safety net that helps policyholders cover the costs associated with pregnancy health issues, treatments and procedures. The policy provides coverage for both mother and newborn (the latter is included in most plans).

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Skyrocketing medical costs, coupled with rising birth complications and rising medical costs for newborns, are leading couples to frantically seek financial assistance as they dream of starting a family.

To meet this growing demand, health insurance providers now offer maternity insurance policies, which can be either stand-alone or add-on, depending on the insurance company.

While on the surface this may seem like a beneficial policy for future parents, in most cases insurance companies are unwilling to offer this financing option. Therefore, these policies are rare compared to the wide range of health insurance offered by the best insurance companies across the country.

Private Health Insurance For Pregnancy No Waiting Periods

We’ll tell you all about it later. First, let’s take a look at what features and benefits these pregnancy health insurance plans offer.

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Please note that most birth plans do not cover pre- and post-hospital expenses. To confirm indirect costs, you must ask your provider for coverage details before using the plan.

In terms of coverage for neonatal treatment costs, insurance companies vary. If your insurance company offers financial assistance, here are some optional benefits you can take advantage of:

These features look profitable enough, don’t they? They can help help you meet the increasing costs of childbirth. So, should you choose these covers? Let’s find out-

Just look at the estimated cost of having a baby and you’ll know.

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