Maternity insurance plans have been started by various companies in order to cover the financial obligations which are involved when having a child. This begins right from the time the news of the pregnancy breaks. This includes visits to the doctor, medical examinations and various nutritional supplements which are needed until the delivery of the baby.
Once the baby gets delivered, there are further tests and vaccinations involved. In short, the entire process costs a significant amount of money. This is why a number of insurance providers have today come up with a number of maternity insurance plans to ensure the well-being of both the mother and the baby.
In short, a maternity cover provides a lot of benefits. If you are planning to opt for one, here are the top points which you must remember before purchasing -
Coverage
You need to confirm the expenses which are covered in the policy. These days most of these plans cover the cost of hospitalization, ambulance services, and costs of medical officers including anesthetist, pediatrician, gynecologist, and others.
Apart from this, there are some plans which cover pre-hospitalization charges up to a period of 30 days before the delivery and post-hospitalization charges of up to 60 days after the delivery. The insurance coverage can also include the vaccination of the infants if they are detected to have any congenital disorders.
Waiting Period
Just like other insurance plans, maternity plans also have a waiting period which can range from 36-72 months depending on the plan being chosen. In other words, once a maternity cover has been availed, you need to complete the waiting period before becoming a period in order to avail the benefits of the policy. It is thus recommended that you purchase a policy in advance so that you are able to utilize its benefits to the fullest when needed.
Once the baby gets delivered, there are further tests and vaccinations involved. In short, the entire process costs a significant amount of money. This is why a number of insurance providers have today come up with a number of maternity insurance plans to ensure the well-being of both the mother and the baby.
In short, a maternity cover provides a lot of benefits. If you are planning to opt for one, here are the top points which you must remember before purchasing -
Coverage
You need to confirm the expenses which are covered in the policy. These days most of these plans cover the cost of hospitalization, ambulance services, and costs of medical officers including anesthetist, pediatrician, gynecologist, and others.
Apart from this, there are some plans which cover pre-hospitalization charges up to a period of 30 days before the delivery and post-hospitalization charges of up to 60 days after the delivery. The insurance coverage can also include the vaccination of the infants if they are detected to have any congenital disorders.
Waiting Period
Just like other insurance plans, maternity plans also have a waiting period which can range from 36-72 months depending on the plan being chosen. In other words, once a maternity cover has been availed, you need to complete the waiting period before becoming a period in order to avail the benefits of the policy. It is thus recommended that you purchase a policy in advance so that you are able to utilize its benefits to the fullest when needed.
The terms and conditions of the insurance policy vary from one lender to the other. Make sure that you know about them completely before investing.
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