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Health emergencies do not see age, sex or income status before arriving. Also, health issues with one family member affect the entire family and their financial status. Thus, a health cover is important not only for the breadwinners but also for the children and other family members.
Having a health insurance policy for yourself and your family is essential. Medical care, especially in the private sector, is expensive. In case of a sudden medical emergency, hospital bills can derail your finances and eat up your savings very quickly.
Health challenges related to maternity also affect a large population in India. Thus, a maternity cover helps take care of any such sudden complexities. The cover also helps you to protect the new born child from healthcare expenses.
Key Takeaways
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One of the best experiences in life is motherhood. You would want to enjoy the phase before and after delivery and not worry about anything else. Although maternity and related expenses are a normal addition to your life, you would want to avoid any sudden medical costs.
You don't have to worry about it if you plan it well. Look for health insurance that gives you maternity cover. These insurances are to help you cover pregnancy-related expenses. You can get the maternity cover as an add-on with your existing health insurance plan. Usually, maternity cover is available with family floater health insurance plans. It helps cover both the mother and the newborn from pregnancy-related healthcare costs.
Maternity insurance covers most expenses for your delivery up to a specific pre-defined limit. You get coverage for both types of delivery - normal and caesarean. The benefits vary from policy to policy. Below are some benefits most maternity plans offer:
Check with your insurance provider and look at the benefits that come as an add-on. If it meets your requirement, you can opt for it. If not, get a dedicated maternity health insurance plan.
The claim process for maternity insurance is simple. You can opt for online and offline options depending on the insurance provider and your convenience.
Also, depending on the hospital you have selected, the claim can be made cashless or through a reimbursement manner. When you select a network hospital, the maternity claim gets settled through a cashless process. If you opt for a non-network hospital, you will first have to pay bills from your pocket and later claim the amount.
Below are the steps you need to follow to claim maternity insurance online:
In the offline process, you can collect the claim form from the nearest office of the insurer. The documents will be the same as discussed above.
Once all the required documents are ready, visit the nearest branch of the insurance company with the required documents and submit the claim.
To make the claim process smooth, you should keep the required documents with you. Below are the documents you will need:
Check the policy document to confirm if your insurer has asked for additional documents for claim settlement.
Like any other life insurance, you should know exclusion and inclusion in your maternity health insurance. Below are the general exclusions in maternity health insurance. You should check your policy for exact terms and conditions.
While maternity cover is a part of Mediclaim insurance, you should also consider insuring against life-threatening illnesses. The critical health insurance cover provides you with a lump sum amount upon diagnosis of illnesses like cancer, heart ailments and renal failure.
These ailments are unpredictable and may require a large amount of money for treatment. The lump-sum coverage helps you to take care of costs and look after your lost income for the period.
Also Read about : Cashless Treatment
Planning for maternity is a joyful experience, but also one that requires financial foresight. Maternity insurance can ease the financial burden associated with childbirth and baby care. When you buy the policy, it is advisable to review the coverage terms, exclusions, and claim process in detail. Being informed and prepared can help you make the most of your insurance benefits without last-minute hassles.
Protecting your health today is the first step toward a worry-free tomorrow. Choose the right combination of maternity and critical illness covers to safeguard your well-being and financial stability.
Opt for added covers along with your health insurance plan to protect yourself and your family in all possible ways. You can choose them as an add-on with your health insurance plan or with iSelect Smart360 Term Plan as an added benefit.
The total amount spent by Indian households on health and medical-related services in November 2022 was roughly ₹120 billion.
Disclaimer - This article is issued in the general public interest and meant for general information purposes only. The views expressed in this blog are solely those of the writer and do not necessarily reflect the official policy or position of Canara HSBC Life Insurance Company Limited or any affiliated entity. We make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability, or availability with respect to the blog or the information, products, services, or related graphics contained in the blog for any purpose. Any reliance you place on such information is therefore strictly at your own risk. You should consult with a qualified professional regarding your specific circumstances before taking any action based on the content provided herein.
