Know five facts about maternity insurance in India

Maternity is one of the most blissful experiences in life and no words can ever describe the exact emotions that make it such an important milestone. In the old times, maternity meant the traditionally acclaimed methods of ensuring the safety of the mother and the child. However, the predominant thrust today is on hospitalization and in many cases, owing to the complications, surgical methods and post-natal recuperation is required. This obviously means a lot of financial stress for the couple and their savings are directly impacted because of this. This is where the importance of having a maternity insurance plan comes in. Having a maternity insurance plan in place allows you to save your hard earned finances from unwanted hassles and provides due coverage benefits ranging from hospitalization, any surgical procedures required, medications and even post-natal recovery.

In India, maternity insurance plans offer extensive benefits and come with a variety of features. Here is a list of five facts about maternity insurance in India:

1. Scope of coverage:

   In India, the maternity insurance schemes offered by insurance company come with wide areas of scope and generally include extensive hospitalization benefits (both pre and post-natal with 30 days and 60 days respectively), the costs of hospitalization (right from the first day of hospital admission), additional costs like any ambulance, nursing, surgical consultation, etc. The best part is that these benefits are offered for both a normal delivery and also those which require any caesarian section. Apart from this, in case if the newborn suffers from any congenital disease, due coverage is offered (up to 90 days).

2. Understanding the exceptions:

   Despite the fact that the benefits given under maternity coverage are extensive, yet there are certain exceptions and capping limits in place. For example, the upper age capping is of 45 years for seeking the benefits, there is an upper capping in place for expenditure on caesarian sections and also no benefits can be availed for any abortion (within 12 weeks from fetal-conceiving).

3. Payable premiums:

   Generally the maternity insurance plans come with a high premium rate and when viewed in comparison with other health care plans or disease specific plans, maternity plans may seem to be a bit costlier. However, the coverage benefits offered more than make up for the added premium rates and therefore, before taking out a maternity insurance plan, you must always check and compare various plan features online.

4. Understanding the "waiting-period":

   Waiting period is the period of time that the insurer includes in the policy terms, before the actual benefits of the plan can be claimed. This period ranges from anywhere between 2-6 years, depending on the insurer. Therefore, taking a timely and informed decision to buy a maternity plan is very essential.

5. Key facts:

   As mentioned, taking a timely decision is very important while purchasing a maternity insurance plan. Maternity benefits can be claimed under certain health care plans as well. However, it is always advisable to purchase a different and specific maternity plan.

HDFC Life offers HDFC Life Smart Woman Plan - a comprehensive plan with focus on women and one that offers multiple benefits for financial coverage at all times. For details, click on the mentioned link: https://www.hdfclife.com/women-insurance-plans/smart-woman-ulip-plan.

WOMEN PLAN: CALCULATE PREMIUM