Pregnancy is a life-altering experience, but it also has its share of financial burdens. The expenses can add up fast from routine checkups and tests to delivery and post-delivery care. That’s where mediclaim for maternity enters the picture it assists in paying for these costs, so you can take care of your health and your baby without burning a hole in your pocket.
In this article, we will discuss how this policy can assist you during pregnancy and delivery, the advantages of health insurance with OPD cover, and why expectant parents need comprehensive medical insurance.
What is Mediclaim for Maternity?
Maternity mediclaim is an insurance product that covers the medical expenses of pregnancy and childbirth. While regular medical insurance policies might not include maternity coverage, a maternity policy covers costs such as:
- Pre- and post-natal treatment
- Doctor consultations and follow-ups
- Diagnostic tests and ultrasonography
- Delivery expenses (normal and Caesarean)
- Newborn care for the first 90 days (in certain policies)
Without maternity cover, such costs can amount to lakhs of rupees, placing a huge burden on your finances. This policy prepares you for such expenses so you can concentrate on what is most important: your baby’s health.
Why You Need Maternity Coverage?
Pregnancy care expenses have skyrocketed over the years. In metropolitan cities, a normal delivery can now range from ₹30,000 to ₹95,000 or more, and a C-section can start from ₹1,00,000 to ₹1,20,000 or more. Couple this with the expense of prenatal tests, medication, and follow-ups, and the figure becomes daunting.
This policy with maternity benefits safeguards you against such exorbitant expenses. It ensures that you and your child get the best treatment without having to worry about how to fund it.
What are the Major Advantages of Mediclaim for Maternity?
There are multiple benefits of the mediclaim policy during pregnancy. Below are some of them listed:Â
1. Financial Security
A maternity mediclaim policy insures significant costs, such as hospitalisation, delivery, and post-delivery care, so you don’t have to shell out money from your pocket.
2. Both Normal and C-Section Deliveries Covered
As C-sections are costlier, having a policy that covers both will provide you with peace of mind, knowing that you’re ready for anything.
3. Pre and Post-hospitalisation Cover
Most of these policies pay for medical costs incurred within 30 days before and 60 days after delivery. These include doctor consultations, tests, and medication.
4. Newborn Care
Certain policies pay for the newborn’s medical cost for 90 days from the date of birth. This covers vaccinations and treatments for any complication.
5. Tax Benefits
Maternity mediclaim premiums paid are eligible for tax exemption under Section 80D of the Income Tax Act, lowering your tax expenditure.
What are the Types of Maternity Medical Insurance?
There are various types of medical insurance policies that provide maternity benefits, each suited to serve different financial and healthcare requirements.
Individual Health Insurance with Maternity Cover
These plans are customised for individuals and provide coverage for maternity costs, such as pre- and postnatal treatment, delivery, and infant care. They suit women who are planning a child and wish for extensive coverage. Individual plans’ premiums are usually more expensive but provide customised benefits.
Family Floater Health Insurance with Maternity Cover
Family floater plans insure the whole family with a single sum insured and typically have maternity benefits. They are affordable for families who want to insure multiple members under one policy. The maternity coverage limit could be less in some instances.
Group Health Insurance with Maternity Cover
Most employers provide group health insurance that covers maternity benefits, including delivery, hospitalisation, and newborn care. The group plan coverage is generally lower than individual plans, but it’s a good employee benefit.
Health Insurance with OPD Cover
Certain health insurance plans cover OPD (Outpatient Department), which manages the expenses of prenatal visits, drugs, and routine investigations. It is useful for managing small medical bills that are not usually paid under regular policies.
How to Select the Best Maternity Mediclaim Policy?
Selecting the best maternity policy helps you receive the best treatment without worrying about the cost. The following are important factors to look out for:
Coverage Amount
Make sure the policy covers enough for normal and C-section deliveries, including prenatal and postnatal costs. Verify if the coverage amount is in line with the average maternity expenses in your city.
Waiting Period
Most maternity insurance plans have a waiting period of 9 months to 4 years before the benefits can be claimed, so plan accordingly. Opt for a plan with a shorter waiting period if you’re planning to conceive soon.
Inclusions and Exclusions
Review the policy details carefully to understand what is covered (like prenatal checkups, hospitalisation, and delivery) and what is excluded. Look for hidden exclusions like specific tests or newborn care limitations.
Network Hospitals
Select a policy that covers a broad network of hospitals where you can have cashless treatment. Check if your chosen hospital is part of the insurer’s network.
Premium and Additional Benefits
Compare premium rates and additional facilities such as newborn cover, vaccination expenses, and charges for ambulances. Check if the policy gives no-claim bonuses or renewal discounts.
Final Thoughts
In short, having a mediclaim policy with maternity benefits is the assurance of receiving quality medical attention without having to spend from your pocket. It allows you to plan for pregnancy-related expenses, right from prenatal visits to delivery and afterbirth care.
Niva Bupa health insurance provides complete maternity benefits, such as cashless hospitalisation, newborn care, and OPD benefits. Selecting a reliable provider like Niva Bupa can provide you with peace of mind and financial security at this crucial stage of life.
