Thu. Aug 13th, 2020

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Why You Must Check Waiting Period for Maternity Claims?

3 min read

Motherhood is one of the major life events that a female goes through. The female body witnesses significant changes, both physical and hormonal during pregnancy. No doubt, it is one of the most exciting journeys. 

How much ever precaution you take, there are always chances of health complications related to childbirth. It generally arises with an increase in age. Apart from this, you need to start planning, mentally as well as financially from the time you get pregnant or else these expenses can take a hit on your savings. To avoid this situation, buy a maternity health insurance policy.

What is maternity health cover?

Maternity health insurance covers all expenses associated with childbirth to expecting mothers as well as newborns. It is available either as a standalone benefit or can be grouped with your family health insurance plan. Employers also provide maternity cover under their group insurance schemes. 

Why should one opt for a maternity cover?

As you prepare to welcome a new life in this world, you must ensure the mother, as well as the child, are taken care of with utmost responsibility. Top-notch medical facilities are preferred by many, and it does not come cheap. The increasing cost of medical inflation requires you to get covered with a maternity plan to avoid taking a hit on your finances. Moreover, a maternity cover includes childbirth costs, pre-natal as well as post-natal expenses. Some family health insurance policies with maternity benefits also offer coverage for the newborn after 90 days.

What important factors to look at when buying a maternity policy?

Here are some of the important factors that you need to be aware of when selecting a maternity cover. 

Coverage: When buying a maternity health insurance policy, make sure of your policy coverage. Most maternity plans include coverage for hospitalisation, health check-up facilities, pregnancy-related medical tests and any unforeseen pregnancy-related emergencies.

Waiting period: Most maternity insurance policies have a waiting period. This means any expenses shall not be covered during such duration. It implies you wait for the waiting period until you decide on having a baby. Buying a maternity policy well in advance is preferable to complete the waiting period before you get pregnant. 

Clauses:All important clauses must be thoroughly read to understand the fine print. Following them will help you effectively compare policies for the different features, terms and conditions before zeroing down. 

How important is the waiting period while buying a maternity cover?

The entire policy purchase decision after the finances rests on the waiting period. This duration can be as low as 9 months to 6 years. Your insurer might reject your claim application in case you conceive before this duration. Your family planning decision can help in deciding how early you need to opt for a maternity cover depending on the waiting period.

Lastly, don’t delay in buying a maternity cover. After all, you wouldn’t want your claim to be rejected just because of non-compliance of the waiting period. The mom, as well the child deserve the best. In case you’re keen on becoming parents, don’t forget to top your family health insurance with maternity coverage.

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