In rural India, more than 86% of the population is not under any health insurance. As for urban India, 82% of the population’s health is uninsured. That means only less than 20% of Indians have health insured. Now, imagine how many women out of these would be covered for maternity? Very few. In fact, given the situation of such poor health insurance coverage, childbirth becomes expensive for many couples and families.
There are many reasons why so few people opt for health insurance that provides maternity cover. Affordability may be a factor for some but also awareness about such things is very poor. There is excitement and anxiety in homes that are set to welcome a newborn. There is advice flowing in from all quarters, from grandmothers to aunts and every other member of the family on what you should or shouldn’t do. As to-be-parents, you often receive opinions on everything from, “The baby should be swaddled only with muslin cloth”, “You should try cloth diapers instead” to “You should go to that hospital”; but unfortunately will advise on getting a Maternity and Newborn Baby Cover to your insurance. Here’s a little guide on what is Maternity Health Cover, why you need it and how you can get one.
What exactly is a Maternity Health Cover?
A Maternity Cover is a product that covers expenses related to childbirth up to a certain limit. This cover can be either a standalone policy or one that can be added on as a cover to your already existing health insurance.
Health insurance for an expecting mother includes various things that can not only benefit her but also her newborn baby. At Finserv Markets you can get a Family Health Insurance plan that will provide Maternity and New Born Baby coverage.
A lot of insurance companies also offer cashless treatment wherein the expenses are directly paid by the insurance company to the hospital. However, all these services can be availed only in hospitals that are already in the network of the insurance policy provider. If you have purchased a health insurance plan at Finserv Markets, you can check the hospitals in the network which allow cashless treatment here <link>.
So, why do you need a Maternity Health Cover?
In today’s age, not having a Maternity Health Cover is not an option. As much as the new addition to the family is a blessing, the medical costs are a financial burden. Whether you choose a respectable hospital or a maternity nursing home – you will definitely return home with a wad of bills.
Given the increasing complications of childbirth, extended hospital stay post delivery, medicines and hospital charges – giving birth to your baby in a mid-range hospital will cost you anywhere between Rs. 50,000 to 1.5 lakh. The cost may increase if the baby is born via a c-section instead of a normal delivery or if there are further complications. Family Health Insurance plan at Finserv Markets provides coverage of up to 25,000 for normal delivery and up to 35,000 for cesarean section, depending on the sum insured.
This estimated lump-sum is not inclusive of prenatal care like the infertility treatment, frequent doctor’s appointment fee, diagnostic expenses, medicines and pregnancy-related costs. All these expenses can end up being heavy on your pocket.
Wouldn’t it be nice to bring home a baby without having to exhaust your savings? If you are expecting or planning to have a baby then a Family Health Insurance at Finserv Markets with a Maternity Health Cover is a must for you!
At Finserv Markets, the Maternity Health Cover is offered as a part of the Family Insurance Plan which comes with many benefits like a huge network of hospitals that allow cashless treatment, swift settlement process with a settlement rate of 94% and customisable plans.
As you can see the insurance cover not only protects you but also provides you with financial security. So, if you are planning to have a baby or are already pregnant then a Maternity Health Cover should be the first thing you should pack in your baby bag.
But when should you buy a Maternity Cover?
Since, one cannot reap maximum benefits of the insurance plan if bought while being pregnant and as it takes a waiting period of 2 to 6 years – ideally, it should be bought when the couple is planning for a baby. One can avail the benefits of this insurance when they’re in between the age of 18 to 45 and if they have a steady paying job.
Welcoming a baby home is an angelic experience. Don’t let the monetary cost of it make a dent in this blissful moment of your life. Think smart and act fast as pregnancy, childbirth and postnatal care can be expensive.
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