What To Factor When Buying A Maternity Health Insurance?
Parenthood is one of the most special experiences of one’s life, more in particular for the females. The female body undergoes major changes, in the form of physical, as well as, hormonal changes that have a long-term impact on their bodies.
Pregnancy is one such case where any amount of precaution you take, there is always a slight chance that compilations may develop. These situations are unexpected and can leave you startled. At such times, timely medical treatment is of utmost priority. You do not want the hassles of worrying about money. To be prepared for these situations, you should purchase a health insurance policy. Since there are many forms of health insurance, a maternity cover is what you should be looking for. You can also purchase online health insurance plans.
Let us look at the things you should factor in when purchasing maternity health insurance.
#1 Policy inclusions
Any policy selection, be it an individual cover or family health insurance, requires you to consider the inclusions. Similarly, when buying a maternity health insurance, it is essential you check the scope of your policy. During pregnancy, it is not just about the childbirth, but also medical visits to the gynaecologist, periodic medical checkups and more. All these diagnoses and pre-delivery charges can be heavy on your wallet. So it is advisable to carefully select a policy with the right set of inclusion.
Health insurance plans having maternity benefits have a capping on the amount of expenses covered by the insurance policy. It implies although you have coverage for say, a few lakh rupees, the insurance policy will cover up to a specified amount. Thus, when you shop for a maternity policy, keep an eye on the sub-limits under your policy. It will help in avoiding hassles at the time of filing a claim. You should opt for a plan with minimum sub-limits.
#3 Waiting period
Another factor to consider along with sub-limits and inclusions is the waiting period to avail the insurance cover. A typical maternity health insurance has a waiting period between the range of 24 to 48 months. It implies, any claim before this duration shall not be honoured by the insurer. Hence, it is essential to buy a maternity insurance cover before you plan the delivery for your child to cover all possible expenses.
Lastly, the premium is the final factor to consider when buying a maternity health cover. Although you would opt for a policy with maximum coverage and lowest waiting periods, the premium for such plans will be high. Try to balance the premium for your policy against the benefits covered by it.
These are the factors to take into account when looking for maternity health insurance. While there are myriad options to choose from, make sure you compare health insurance plans. A thorough comparison will help you understand all the terms and conditions that you should be aware of at the time of purchase. The bottom line- it is advisable to look for a cost-effective plan but not determine your purchase solely based on the price.