Starting a family brings a joyous experience for a couple, but it also brings financial responsibilities. Having maternity health cover is crucial in such situations to provide you with financial ease.
The rising expenses of childbirth in India can take a toll on your finances if not planned earlier. Buying a maternity plan with your health insurance helps cover these expenses, providing peace of mind.
However, before purchasing a maternity cover, one must understand its features and benefits to make an informed decision.
What does maternity cover in health insurance imply?
Health insurance policies come with various add-ons to extend your coverage and benefits. Maternity cover is one of these add-ons that covers the expenses of pregnancy and newborn care, allowing the family to focus on the mother and child instead of expenses.
It covers the following expenses:
Pre- and post-natal care
It covers the expenses incurred in pre-hospitalisation care and follow-up checkups. This includes blood tests, ultrasounds, etc., diagnostic tests, prenatal vitamins and medicines, up to 30 days pre-hospitalisation care, up to 60 days post-hospitalisation care, follow-up checkups for mother and newborn, etc.
Expenses related to delivery
Maternity health cover helps meet the expenses related to the delivery of the insured. The expenses of both normal delivery and C-sections, room rent, hospital stays, etc., are covered under maternity insurance.
Newborn care
It also covers the expenses incurred in the doctor’s consultation and medication of the newborn up to 90 days from birth. Besides, vaccinations up to one year of age are also covered under maternity health insurance.
Pre- and post-hospitalisation expenses
It covers the expenses related to pregnancy from 30 days before hospitalisation and 60 days after getting discharged from the hospital. It includes the expenses of doctor’s consultations before childbirth and newborn care after pregnancy.
What are the advantages of maternity cover in health insurance?
As already mentioned, maternity cover in health insurance policies helps manage the expenses of pregnancy, pre- and post-natal care, childbirth, etc. This coverage is highly beneficial for expectant parents in many ways.
Here are the advantages of maternity coverage:
Provides financial safety during pregnancy
With maternity coverage, you can seek financial assistance for the mother’s health and newborn care. This reduces the burden of hefty pregnancy-related expenses so that you don’t need to compromise on the quality of healthcare.
Covers complications related to pregnancy
Unexpected complications may occur in pregnancy that can drain all your savings. Having maternity health cover in such a scenario can help you manage the unexpected expenses and maintain your well-being.
Tax advantages
As per the Income Tax Act of 1961, premiums paid for maternity health cover are eligible for tax deductions under Section 80D. Thus, maternity insurance not only provides financial coverage but also helps save on your income tax.
Conclusion
Pregnancy is undoubtedly a wonderful journey, but adequate financial planning is necessary to make it smooth and safe. Having maternity cover in your health insurance policy is crucial in seeking protection against the odds of pregnancy. So, individuals should add maternity cover to their health insurance policies while planning for a pregnancy to ensure timely coverage.
