Starting a new family is an exciting phase. However, it also comes with great responsibility be it choosing the right doctor, deciding on your baby’s name, or most importantly, securing the financial future. One of the most overlooked things in this new phase of life is maternity insurance. Such mediclaim insurance is essential for both you and your baby, facilitating a smoother transition during this life-changing experience. But the common question is: what is the right time to purchase maternity health insurance?
Let’s dive deeper into the right time for buying pregnancy insurance.
Nurturing New Beginnings with Maternity Insurance
Maternity insurance covers the expenses related to pregnancy and childbirth. It offers financial support for a variety of expenses, including prenatal care, postnatal care, complications, doctor consultations, diagnostic tests, normal delivery, and caesarean section. A maternity health insurance plan can ensure that you don’t have to worry about overwhelming medical bills during such a critical time of your life, offering you peace of mind.
Coverage Options Under Maternity Health Insurance
Selecting the appropriate option from the multitude of choices available in the market can be quite challenging. Whenever buying mediclaim insurance for pregnant women, it’s essential to understand what is covered and what is not. This will help you make decisions.
Prenatal and Postnatal Care
Insurance for pregnant women offers coverage for prenatal care that is received before childbirth. This includes regular health checkups, diagnostic tests, and health screenings and also facilitates postnatal care.
Hospitalisation Expenses
Pregnancy insurance includes the cost of hospitalisation during delivery, such as doctor’s fees, hospital room charges, and any medical treatments required before, during, or after childbirth.
Complications Coverage
Pregnancy is a transformative journey. You might undergo a lot of changes both physically and mentally. While this is one of the most beautiful times in a woman’s life, some may encounter several challenges during this time, including gestational diabetes, heavy bleeding, preterm labour, and more. Such complications can pose a risk to life for both you and your baby. Pregnancy insurance covers such life-threatening complications and provides protection.
Newborn Baby Care
Mediclaim insurance will cover medical expenses for your newborn baby, including hospitalisation costs and vaccinations, thereby improving your child’s quality of life.
Cashless Facilities
Many insurance providers, like Niva Bupa, offer a cashless facility at network hospitals, allowing you to avoid upfront payments for treatment.
Why is it Recommended to Purchase Maternity Insurance in the Planning Phase?
People usually buy health insurance when they need it. But when it comes to maternity health insurance, early planning can save you from unexpected financial burdens later on. Here’s how:
Waiting Periods
Like every insurance policy, pregnancy insurance also comes with a waiting period. If you’re wondering what is that? Then keep reading.
The waiting period is the period during which you are allowed to file claims. When buying pregnancy insurance, this is one of the most essential aspects to keep in mind. This means that if you wait too long to purchase a policy, you might not be eligible for claims during your pregnancy. Getting your insurance during the planning phase ensures you’ll have coverage when the time comes.
Rising Medical Costs
This is one of the most common concerns. Expenses related to pregnancy such as delivery costs, including both normal and caserean, medications, tests, and more can quickly add up, creating a financial burden. Having insurance in the planning phase ensures you don’t compromise the quality of healthcare, in case of medical emergencies.
Peace of Mind
Pregnancy can be an exciting yet overwhelming experience, and the last thing you want to stress about is how to pay for medical bills. By purchasing insurance ahead of time, you get a sense of security that comes with knowing your finances are covered. This allows you to focus more on your health and well-being rather than worrying about the finances.
Tax Benefits
Did you know, that purchasing insurance policies not only safeguards you against financial strain but also offers tax advantages? As per Section 80D of the Income Tax Act, you can claim deductions for the premiums you pay on the insurance policies. This provides an additional financial benefit to an already prudent investment.
Wrapping Up
There are numerous important decisions to make when planning for a baby. One of the most important is to obtain insurance before conceiving. By doing so, you ensure financial protection against rising medical costs, unforeseen complications, and a sense of security throughout your pregnancy. Whether it’s the extensive coverage for both you and your newborn, or the tax benefits that come with it, insurance is an investment you won’t regret.
With Niva Bupa, you get coverage that guarantees access to the best care throughout your pregnancy, delivery, and postnatal period. Their plans are tailored to deliver a seamless experience, allowing you to concentrate on what truly matters, your growing family.