Most insurers do not provide maternity insurance to individuals who are already pregnant. Insurers consider pregnancy as a pre-existing condition, hence, get this policy as soon as possible, as maternity insurance comes with a long waiting period.
It is always suggested to have an independent health insurance policy and not to rely entirely on employer-provided group insurance plan.
The average cost to deliver a baby is around Rs 45,000 to Rs 75,000, and the cost of C-section deliveries has risen up to Rs 2 lakh in most urban cities in India. Having maternity insurance can help the family ease off the rising cost without any stress.
Not all health insurance policies, however, come with the maternity benefit. Maternity insurance is an add-on cover that policyholders can opt for in a health insurance policy, both individual or family floater plan. The maternity benefit covers all maternity-related expenses for the policyholder.
The maternity benefit is offered as a rider or as an add-on service, varying from insurer to insurer. With this benefit, all the policyholder’s maternity expenses towards the delivery of a baby along with treatment-related expenses to any complications in the pregnancy or medically necessary termination will be covered by the insurance company.
Having said that, most insurers do not provide maternity insurance to individuals who are already pregnant. The insurance companies consider pregnancy as a pre-existing condition and hence, go beyond the policy cover. Experts suggest, one should get this policy as soon as possible, as maternity insurance comes with a long waiting period. Generally, policyholders need to wait for a period of around 3-4 years before getting this coverage.
The maternity insurance pays for pre and post-hospitalization, along with nursing and room charges, doctor consultation, surgeon fees, and anesthetist consultation. Along with those benefits, the maternity add-on also pays for expenses arising out of hospitalization charges of the newborn baby due to any medical complications, vaccination charges, fertility issues of the mother usually up to 90 days from the date of delivery. Policyholders can opt for this add-on for both the first or second time of having a child.
Even though this add-on is a must given the rise in costs, experts say, one should do a thorough understanding of inclusions and exclusions while opting for maternity insurance.