July 22, 2021

Becoming a parent is one of the most important and joyful events in anyone’s life. However, along with the joy, the lives of the parents also change forever.  If you are planning to have a baby soon or expecting one already, then this article is a must-read one for you. Medical costs have skyrocketed in the recent times, and maternity costs are no longer as reasonable as they used to be. Having a baby nowadays requires a lot of advance planning about how to meet the expenses involved in the childbirth. If you want to enjoy the arrival of the child without having to worry about the costs, then you need to buy a Health Insurance Policies with Maternity coverage included in it or a standalone maternity health insurance plan.

Maternity cover is generally available as a rider to most of the health insurance policies and claims can be made only after a specified time period has elapsed from the date of availing the insurance. This is known as the waiting period clause. Usually, maternity health plans have long waiting periods ranging from 9 months to 4 years depending upon the plan, which is a long time. So, if you are thinking of expanding your family, then plan well in advance and take a health insurance with maternity coverage immediately. The best option is to take a maternity insurance as soon as you get married to get rid of the long waiting period to avail maternity benefits.

Need for a Maternity Insurance Policy

The typical expenses involved in childbirth are the cost of staying in the hospital, doctors’ fees, delivery costs, medicines and the several tests involved. This can be a substantial amount. If you do not have any maternity insurance policy covering you, then it will surely cost you a fortune.

If you buy a health insurance with maternity policy, then the insurance company will reimburse the costs of childbirth to you. This will surely relieve you from a major financial burden.

Top 5 Maternity Insurance Policies with their Features and Benefits

We have done an extensive research and arrived at the top health insurance with maternity coverage policies which we think are worth looking at. Let us now discuss these policies in detail.

1. Complete Health Insurance from ICICI Lombard:

ICICI Lombard Complete Health insurance policy offered by ICICI Lombard offers a range of facilities including cashless approval within just 4 hours. It is available as an individual plan as well as a floater for covering the entire family. Expenses for up to 2 deliveries or legal terminations are also covered under the floater plan.

  • Sum Insured: 3 lakhs to Rs. 10 lakhs
  • Inclusions:
    • Hospitalization expenses,
    • Day-care expenses for surgeries,
    • Free health check-up and a range of other expenses.
    • Maternity expenses incurred in normal as well as caesarean deliveries,
    • Pre-and postnatal expenses,
    • Newborn babies are covered for the first 3 months after birth.
  • Waiting PeriodThe maternity benefits can be claimed after 3 years of continuous coverage under the policy.

2. Star Wedding Gift Insurance

Star Wedding Gift health Insurance policy offered by Star Health Insurance also covers up to 2 normal or caesarean deliveries.

  • Sum InsuredRs 3 lakhs and 5 lakhs
  • Inclusions:
    • Maternity and hospitalization expenses
    • Treatment costs for Postdelivery Complications.
    • Pre-and Postnatal Expenses
    • Coverage for the baby till the end of the policy period.
    • Any Congenital Problems that the infant might be detected with
  • Waiting PeriodThe first maternity claim can be made after 3 years of continuous coverage, and the second claim can be made after another 2 years.

3. Joy Plans from Care Health Insurance

This insurance plan carries one of the lowest waiting periods for maternity cover and is suitable for couples who are planning to enter into parenthood soon. It comes in 2 versions: Joy Today and Joy Tomorrow

  • Sum Insured: 3 lakhs and 5 lakhs
  • Inclusions:
    • Pre-and postnatal cover
    • 30 days’ pre-hospitalization cover and a hospitalization cover of 60 days
    • Medical expenses for the child for 90 days
    • Coverage for any defects in the new born baby
  • Waiting Period9 months for Joy Today and 24 months for Joy Tomorrow of continuous coverage under the policy.

4. Easy Health Exclusive Plan by HDFC ERGO Health Insurance

The Exclusive Plan within the HDFC ERGO Health Easy Health Family Floater insurance offered by HDFC ERGO health insurance offers maternity benefits and is one of the most popular insurance plans that the company offers.

  • Sum Insured: 1 lakh to 50 lakhs (up to Rs. 50,000 for maternity expenses)
  • Inclusions:
    • All maternity expenses related to normal or caesarean section delivery
    • Prenatal and postnatal care expenses
    • Medical expenses for the child for the first 90 days after birth
  • Waiting Period: The maternity benefit can be claimed after 4 years of continuous coverage under the policy.

5. ManipalCigna Pro Health Insurance Plus Policy

This insurance plan offered by ManipalCigna Health Insurance provides a range of benefits to the policyholders, including maternity benefit.

  • Sum Insured: 15,000 for birth by normal delivery and Rs 25,000 for a cesarean section delivery.
  • Inclusions:
    • Pre-and postnatal expenses up to the limits specified above
    • Hospitalization costs for the newborn baby (up to the limits of the maternity coverage)
    • Vaccination expenses of the baby for the first year
  • Waiting PeriodContinuous coverage of 48 months is required before any maternity claim can be made under this policy.

While choosing any health insurance plan, pay attention to the waiting period, inclusions and sub-limits, sum insured under each policy. Apart from these, understand the exclusions better, so that you can wisely choose the maternity insurance policy that suits you best, and avoid any negative surprises later.

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