The joy of welcoming a new member into the family also brings a set of responsibilities and financial commitments. From prenatal care and delivery to vaccinations and postnatal treatments, expenses can add up quickly. This is where a maternity insurance policy plays an important role. It ensures that pregnancy-related medical costs do not become a financial burden, allowing new parents to focus on their journey into parenthood with peace of mind.
Yet, despite its importance, many myths and misconceptions surround maternity coverage. Misunderstandings often prevent people from making informed decisions or from opting for the right health cover plans that include maternity benefits. This blog will separate myths from facts and help you understand why maternity insurance is an essential part of your financial planning.
Myth 1: Maternity insurance is not included in health plans
Fact: A common misconception is that pregnancy expenses are excluded from health insurance. In reality, most insurers now provide maternity coverage either as part of their base health plan or as an add-on option. A maternity insurance policy typically covers delivery costs (including caesarean), inpatient hospitalisation charges, and even pre- and postnatal care. Many plans also include newborn care, such as vaccination expenses, up to a specific limit.
Myth 2: Coverage starts immediately
Fact: Maternity benefits do not start from day one. Most policies come with a waiting period, which can range from nine months to six years, depending on the plan. This waiting period ensures that the coverage is used for planned pregnancies and not as an emergency purchase. If you are planning to start a family in the near future, it is wise to buy a policy early so that you complete the waiting period and can enjoy the benefits when needed.
Myth 3: It simply covers delivery costs
Fact: Although delivery costs comprise a significant portion of maternity coverage, there are expenses besides delivery costs. A maternity insurance policy includes coverage for pre-hospitalisation tests, diagnostic tests, postnatal consultations, and expenses for newborn babies. Some policies even extend to cover vaccinations in the first year. This is why maternity insurance is an all-inclusive comfort blanket across the pregnancy journey.
Myth 4: Maternity coverage is only for women employees
Fact: Another common myth is that maternity insurance coverage is available for women employees only through employer-sponsored health care plans. Employers provide maternity benefits for many women, but even individuals and families can seek maternity insurance plans directly. Indeed, several women, even self-employed women and homemakers, can seek maternity insurance with individual or floater plans.
Myth 5: It’s fine to hide existing conditions
Fact: Some policyholders believe that not disclosing health conditions, such as prior complications in pregnancy, will help them get coverage at a lower premium. However, hiding health details can result in claim rejection or cancellation of the policy. Transparency at the time of purchase ensures smooth claim settlement and avoids unnecessary disputes later.
Myth 6: Health insurance only applies to extended hospital stays
Fact: Many believe that maternity insurance only covers hospitalisation lasting more than 24 hours. The reality is that modern insurance plans also cover daycare procedures that require less than 24 hours of hospitalisation. For instance, specific medical procedures linked with pregnancy can fall into this category. This flexibility ensures that parents get financial relief across different medical situations.
Myth 7: Lower premiums mean better policies
Fact: While a maternity insurance plan with a low premium may seem appealing, keep in mind that a lower premium often comes with limited benefits, lower sub-limits on room rent, or fewer inclusions. When choosing a maternity insurance plan, it’s important to compare policies based on coverage, waiting period, and benefits rather than just the cost. A slightly higher premium may not feel significant at the time of payment, but it can provide substantially more coverage when you need it most.
Why You Should Opt for a Maternity Insurance Policy?
A maternity insurance plan ensures:
- Financial security: Covers high hospitalisation expenses and delivery costs.
- Peace of mind: Allows you to focus on your health and baby without worrying about bills.
- Comprehensive coverage: Includes prenatal, postnatal, and newborn expenses. Providers like Bajaj General Insurance also offer plans with maternity benefits for wider protection.
- Tax benefits: Premiums paid may qualify for deductions under Section 80D of the Income Tax Act.
With proper coverage, you are better prepared for one of life’s most important milestones.
Conclusion
A maternity insurance policy is not just an add-on benefit but an essential component of holistic financial planning. By busting the myths around maternity coverage and understanding the facts, families can make informed choices. Choosing the right health cover plans ensures that you are financially secure during pregnancy and childbirth, while also enjoying long-term benefits like tax savings and wellness coverage.
To simplify your journey, health insurance options with maternity benefits are available, ensuring protection for both mother and child. When planning for your family’s future, consider maternity insurance early and choose a plan that aligns with your healthcare and financial needs.
*Standard T&C Apply
Insurance is the subject matter of solicitation. For more details on benefits, exclusions, limitations, terms, and conditions, please read the sales brochure/policy wording carefully before concluding a sale.
**Tax benefits are subject to change in prevalent tax laws.
The information presented is not meant to be a substitute for medical advice. Any suggestions mentioned should be considered for general use only. For expert guidance on any health ailment or medical issue or treatment/procedure, please consult a certified medical professional.