8 Reasons to Buy Maternity Insurance Policy for Maximum Benefits

For parents, bringing a newborn and caring for one may be a stressful experience. Each pregnancy is unique, and family members may face difficulties. Although caring for a newborn after delivery is a full-time job, it is only one component of pregnancy and childbirth. Another consideration is the financial issue.

In today’s world, when healthcare expenditures are rising by the day, one may feel compelled to have a financial safety net. It is when having maternity health insurance might come in handy. Here are the top 9 reasons why maternity insurance is important in today’s environment.

1. Financial Coverage

In some regions of India, the cost of delivery and childbirth can range from 50,000 to 1 lakh rupees. The cost may be related to the quality of healthcare services provided during the period. Purchasing a maternity insurance policy may imply that the new mother and her kid will gain higher-quality health care. As a result, insurance is quite essential.

2. Pre-Hospitalization and Post-Hospitalization

Maternity health insurance policies reimburse expenditures spent before admission to the hospital, up to 30 days before admission. Post-hospitalization expenses are also covered under maternity benefits, which range up to 60 days following hospitalization.

3. Surgical Deliveries Are More Expensive

When the natural process of childbirth becomes difficult, a surgical or cesarean delivery is necessary. Medical intervention is necessary in some cases, and the baby comes to the world with major abdominal surgery. It is also possible to choose a cesarean birth. A cesarean section is significantly more expensive than a normal birth. A maternity insurance policy may cover these expenses.

4. Expenses Associated with Pregnancy and Childbirth

Maternity health insurance policies cover both prenatal and postnatal expenditures. Maternity insurance covers expenses such as a baby’s health care, immunizations, medical facilities in the event of severe disease in the newborn infant, and so on.

5. Hospitalization Without Spending Any Money

The entire cost of delivery and other medical services comprise cashless transactions. The expenses are paid between the insurance provider and the network hospital without the requirement of the insured individual. Cashless hospitalization may be an excellent option because childbirth may be a costly affair at times.

6. Comprehensive Coverage

A decent maternity insurance policy includes maternity coverage, newborn coverage, ambulance charges, domiciliary hospitalization expenditures, and complimentary health checks, among other things. Even delivery costs are paid in the event of a standard or C-section delivery. It will cover prenatal and postnatal expenditures and any health issues that may have arisen following the birth.

7. Mindfulness

Parents-to-be may focus on enjoying this significant milestone in their life after their financial burden goes down with maternity insurance policy. You can plan for things like naming the baby, decorating the nursery, organizing a baby shower party, and much more with a clear mind.

8. Coverage For Newborns

In most situations, the maternity insurance policy also covers the newborn infant for a set time, usually up to 90 days. During this time, the health insurance policy with maternity coverage covers all significant expenditures connected to the newborn baby, such as prenatal fees, postnatal expenses, vaccination charges, and more. After the 90-day period has passed, you can add your newborn infant to your general health insurance coverage by paying an extra amount.

Benefits Of Maternity Insurance in Terms of Taxes

For an Indian taxpayer, a maternity insurance policy provides a tax advantage of Rs 25000 in a single financial year. The sum may fluctuate based on the IRDAI’s rules and regulations. Because maternity insurance is an add-on to a health insurance plan, it already has tax advantages. There are no special tax breaks for purchasing maternity health insurance.

There may be certain additional benefits available through a maternity insurance policy. You must be on the lookout for such opportunities. Parenting is an important stage in your life that will offer you a lot of joy. Medical bills and finances should not be a source of worry or concern during this time. As a result, purchasing a health insurance policy with maternity coverage early on will help minimize your financial load and let enjoy this particular time in your life.

Juliana Chen

Juliana Chen, with a Doctor of Medicine degree from Johns Hopkins University, has dedicated 16 years to advancing health education and wellness strategies. She joined our team as a freelancer in 2021, bringing her extensive knowledge in preventive medicine and healthy living. In her writing, she has also shared her expertise in nutrition, mental health, and disease prevention. Juliana’s prior roles include practicing physician and public health researcher. She is a certified yoga instructor and advocates for holistic health approaches in her spare time.

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