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If you are planning to have a baby, you might have heard a friend or colleague advise you to take maternity insurance. A good maternity insurance plan can provide financial protection for you and your baby against a range of complications that can arise during pregnancy and after birth.
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If you are planning to have a baby, you might have heard a friend or colleague advise you to take maternity insurance. A good maternity insurance plan can provide financial protection for you and your baby against a range of complications that can arise during pregnancy and after birth. Are you wondering what coverage can maternity insurance provide? Read on to discover more about how a maternity insurance plan truly protects you.
Coverage for the mother Under a standalone maternity insurance plan, the expectant mother can be covered from around the 13th week of pregnancy. She will receive coverage for a range of possible health complications she may face during pregnancy including amniotic fluid embolism, ectopic pregnancy, HELLP syndrome, miscarriage due to an accident, postpartum haemorrhage requiring hysterectomy, severe acute fatty liver of pregnancy, severe pre-eclampsia or eclampsia, stillbirth and uterine rupture, among others.
Apart from these conditions, the mother can also receive a percentage of sum assured paid out per day of hospitalisation if she is admitted for certain health conditions like lactation mastitis. There is also coverage for Gestational Diabetes Mellitus and psychological consultations. Additionally, the mother also stays covered against death and terminal illness. When the baby is born, this life insurance coverage transfers from the mother to the baby without the need for any medical underwriting. This is applicable if you opt for a bundled maternity insurance plan.
Coverage for the baby A standalone maternity insurance plan can provide coverage for the baby for congenital illnesses such as absence of two limbs, cerebral palsy, cleft palate / cleft lip, club foot, congenital blindness, congenital cataract, congenital deafness, Down’s Syndrome, and Spina Bifida, among other conditions.
Just like the mother, the baby too gets covered for a percentage of the sum assured in case of hospitalisation for bronchitis, dengue haemorrhagic fever, in-patient hospitalisation due to hand, foot and mouth disease, pneumonia, and premature birth. Coverage for mother and baby as the years go by… If you opt for a bundled maternity insurance, the coverage you receive stretches far into the years as your little one grows up. Let’s take a closer look.
Under a bundled maternity insurance plan, the baby continues to stay covered against congenital illnesses up till the age of 3 years. During this period, the baby will also generally enjoy coverage in case they are hospitalised. The mother will also be covered against death and this coverage will usually lapse when the baby turns around 4 years. This life coverage for the baby starts from birth and will be transferred from mother to baby upon birth.. The mother may also opt to enhance her baby’s life insurance protection by opting in for a rider too. For instance, you might want to opt for a rider that includes early/intermediate stages of medical conditions for coverage. Do note that the ages mentioned can vary between insurers. As we can see, a pregnancy insurance plan can really work to protect you and your little one in so many ways. Do speak to a financial consultant for specific details on the coverage they can offer you. All the best!