Nurturing and raising a family is no easy task in today’s time and age. The cost of living is on the rise every day and couples looking at growing their family should consider getting a maternity insurance because the cost of raising a child starts even before the child is born. There are various policies available in the market and each will claim that they are the best health insurance policy but one must do in depth research before selecting what is best for the family as the need varies from family to family. It is also to be noted here that the premium does not come into play as soon as it is purchased but takes around five to six years before the benefits can be availed by the family.
The expenses included under health insurance with maternity coverage are as follows:
- Hospitalization expenses – hospitalization charges are sky high and make up for a major chunk of pregnancy expenses. The policy covers charges thirty days before the delivery of the child and up to a period of sixty days post the delivery of the child. This covers the cost of the room charges, doctor, nurse, any consultation charges whether pre or post-delivery, diagnostic tests fees and ambulance charges. This list is not limited to just the above mentioned and tends to vary depending upon the situation.
- Post Delivery expenses – after the birth of the baby once the mother and child have been discharged, they might need to come back for periodic checkups or consultation. The expenses for these are also covered under the insurance.
- Pre and Post Natal Expenses including delivery – a child can be born both through caesarian as well as a normal delivery and the insurance covers the charges of both.
- Vaccination Cost – a new born baby has a weak immunity and needs to be vaccinated against certain diseases. Some policies cover the cost of vaccination of the baby up to the first year after the child is born while some cover it up to a period of twelve years after the birth of the baby.
- Add on Cover for New Born – most policies as per their terms and conditions extend the insurance benefits to the new born baby as well for a period of up to ninety days after the baby is born. This benefit can be extended for a longer time as well depending upon the policy that was taken earlier. This is separate from the vaccination cost and includes expenses related to checkup of the baby, any medicines that the baby might need and special care in the case of any sickness or disease that the baby might contract.
Maternity benefits are usually offered as an in built feature of an insurance plan or have to be purchased separately at a premium. A policy that covers health insurance and also provides maternity insurance usually puts a cap on the limit that would be covered under the expenses related to maternity. The entire sum of money that has been usually put towards this purpose cannot be consumed as there are different limits put by various insurance companies. It is