Maternity Insurance is a wise choice if you want to ensure a financially safe pregnancy and childbirth. As you know, childbirth is an important phase concerning the lives of the mother and the child. So, one should never take risks when it comes to providing the best possible care to both the mother and her newborn. This is why it’s important to invest in the right insurance for maternity and make sure there are no financial obstacles in the process.
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What’s Maternity Insurance?
Maternity insurance is a type of health insurance plan that exclusively covers the expenses related to pregnancy and childbirth. Insurance companies support the parents-to-be with medical and non-medical expenses at every stage for an annual premium cost.
Usually, a maternity cover policy term is for more than one year, up to a maximum of 5 years. If you exhaust this duration, you cannot extend the policy and will have to purchase a new one. Another crucial detail about maternity insurance is that it involves a waiting period. This waiting period starts from the date of purchase of the plan, and during this waiting period, you cannot raise a claim for pregnancy.
Maternity insurance provides several extra benefits to the policyholder that common health insurance cannot provide. Read on to discover the top reasons that make maternity insurance worth the investment.
Top 5 Reasons to Invest in Maternity Insurance
Maternity insurance plays an important part in protecting the lives of the mother and child during pregnancy. India witnesses the birth of almost 68,000 children every day. And with an increased number of births, there is simultaneous growth in the risks involved. Most of the risks are due to the limited government hospitals and facilities.
To avoid this, one can opt for private hospitalization. But private hospitalization comes with hefty bills, especially in urban hospitals. Especially during complicated pregnancy cases, parents may need to pay huge hospitalization costs for safe and sound delivery at private centers.
This is why you must have maternity insurance, as it will lower the burden of hospitalization expenses during childbirth.
Besides, below are some other reasons why investing in a maternity policy is a wise decision:
Low Premium Amount
The premium for maternity insurance is always lower than normal health insurance. So, by investing in one, you won’t add any unbearable burden to your budget. Thus, allowing you to continue your current lifestyle while planning for the family’s future.
Pre-Delivery Expense Cover
With pre-delivery coverage, maternity insurance covers expenses such as monthly check-ups, scanning, reports, ambulance, medicines, medical procedures, etc. This way, you don’t need to worry about the pre-natal phase which requires utmost care and medical attention.
In-patient Hospitalization Expenses Cover
A maternity cover helps you get financial support even when you need to undergo pre-mature delivery due to health concerns. The mother can also get the crucial medical attention required a few days before childbirth through early hospitalization.
While normal delivery ensures less number of days in the hospital, a c-section might require the mother to stay under extended medical observation. Maternity insurance continues the coverage till a maximum of 90 days after childbirth. This period is enough to treat the mother or the child for post-birth complications. Also, it helps you invite the new bundle of joy without compromising on the celebrations.
Like health insurance, maternity insurance, too, comes with noteworthy tax benefits and income tax deduction eligibility. It helps you save more on the premium payment against maternity insurance.
Now that you know the importance of investing in maternity insurance, you can purchase one without any worries about the premium. Care Health Insurance, one of the renowned insurance providers in India, offers customizable and budget-friendly maternity insurance plans. Its maternity insurance- ‘Joy’ is one of the most trusted pregnancy covers that lowers the burden of to-be-parents amid rising medical inflation. Packed with optimum benefits, the Care maternity insurance offers pre and post-hospitalization expenses while providing for other non-medical costs. So, secure your family’s future with the right maternity cover without any delay.