Eight Benefits Of Maternity Health Insurance Policy In India


Motherhood is a bliss and you would want to enjoy it without thinking about the hefty expenses that are involved in maternity care. With a health insurance policy, you can welcome your child into the world amid the best medical facilities. However, expenses do not end once the baby is born and if you do not prepare yourself well enough, you may find yourself financially overextended. Maternity insurance in India can provide you a financial cushion at a time when you may experience both elation and overwhelm as a new member joins the family. Maternity health insurance helps in restoring this balance to the equation.

While women health insurance plans cover the cost of treating the insured’s medical conditions, pregnancy health insurance plans also cover labour and delivery expenses. In some cases, these insurance plans also support newborn care and post-natal expenses. Thus, supplementing health insurance with maternity insurance is a smart decision. To determine the best maternity insurance in India that can suffice your needs, you must first learn about the prominent features of maternity health insurance.

Following is a list of benefits that maternity insurance in India offers:

  1. Pre and Post Hospitalisation

Pregnancy requires regular check-ups and follow-up visits to the doctor. Maternity Insurance plans cover check-ups and medication required from 30-60 days before delivery. It also covers expenses up to 60 days post delivery.

2. Delivery Expenses

Whether normal or caesarean, the delivery of a child can be expensive. A maternity insurance policy’s sub-limit for normal delivery is Rs. 15,000 to Rs. 25,000 and sub-limit for caesarean delivery is Rs. 25,000 to Rs. 50,000.

3. Pre and Post Natal Expenses

A maternity insurance policy covers childcare expenses including consultation, medication, check-up, and incubation costs, thereby financially covering both the mother and the newborn.

4. Vaccination Cover

Some maternity health plans cover the mandatory vaccinations for the newborn. Usually, it covers the vaccination expenses for the 1st year of birth. These include vaccinations like polio, tetanus, diphtheria, cough, measles, hepatitis etc.

5. Newborn Coverage

Some health plans cover the expenses for the newborn for up to 90 days from birth. This is useful when the newborn needs special care for congenital diseases and other complications.

6. Cashless Facility

Upon availing maternity insurance plan from a reputed insurance company, you can avail cashless facility at the network of authorised hospitals/nursing homes across India.

For instance, companies like Bajaj Finserv offer cashless treatment in a wide network hospitals around India. For pregnant women nearing their delivery due dates, this facility can be beneficial if a need for emergency hospitalisation arises.

7. No-claim Bonus

If you do not make a claim from your maternity insurance policy in a particular year, you will get a discount on the premium of the next year as a certain amount of claim-free bonus is added to your policy.

8. Cover for ambulance charges

The best maternity health insurance schemes also cover ambulance charges during an emergency. Therefore, if there is any need for emergency medical transportation, you don’t have to incur the charges of hiring an ambulance service.

9. New-born care

A maternity health insurance policy is also extended to cover the charges for the care of the new-born if they are born with any critical illness. Thus, both the mother and the new-born child can benefit from the health insurance cover.

10. Tax Benefits

As per Section 80D of the Income Tax Act, 1961, you will get tax benefit of up to Rs. 75,000 on payment of annual premium of your maternity health insurance policy.

While purchasing a maternity insurance policy, you must be aware that there is a specified waiting period to claim maternity benefits from your policy. Generally, a pregnancy health insurance policy with maternity benefits does not provide coverage for the first 2-6 years. Moreover, if you are already pregnant when applying for maternity insurance, it is considered as a pre-existing condition and your application will not be granted. Hence, it is advisable to apply for maternity insurance at least 2 years before you plan to have a baby.

Several health-related issues may occur during pregnancy and you may be diagnosed with pregnancy complications like gestational diabetes and ectopic pregnancy. These complications demand prompt medical attention and may incur high expenses. To cover yourself against such conditions, you can avail the pregnancy complications cover offered under the Pocket Insurance category of Bajaj Finserv. The policy offers coverage up to Rs. 50,000 for only Rs. 499 per annum.

Next, the representatives from the institution will get in touch with you regarding the type of insurance plan you want to avail. However, make sure that you have all the necessary documents ready to avoid any hassles with the documentation process.

Bajaj Finserv also offers affordable insurance solutions under Pocket Insurance across categories like life, health, travel, lifestyle, and assistance. These insurance plans address your specific requirements by providing a large amount of sum insured and are available at pocket-friendly yearly premium.