Motherhood is one of the most loving experiences in everyone’s life. Planning for a child is one of the critical decisions for couples though it brings joy in every couple's life. The joy of bringing a newborn into the world comes with so many medical costs whether it is a normal delivery or C-section.
In 2017, about 2,95,000 women died during and following pregnancy and childbirth. While as per data from 2015-17 in India 122 maternal deaths per 1 lakh births.
Many of all these lives could have been saved if these mothers had the financial assistance to manage the cost of giving births. Every couple plans to have a child but very few of them think of maternity insurance that cannot only save them from being financially stressful but also help them to save the lives of their children and mother.
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What is Maternity Insurance?
Maternity insurance covers expenses related to childbirth and pregnancy at the time of maternity. Usually, maternal insurance comes as an add-on benefit with the standard health insurance policy. Most maternal insurance covers up to two pregnancies and covers 30 days of pre-hospitalization & 60 days of post-hospitalization expenses.
Let's have a look into the reasons before deciding if you need to buy maternal insurance.
Maternity insurance covers expenses related to normal as well as C-section delivery. So, whatever procedure is necessary can be chosen without stressing about finance. Almost everyone prefers private hospitals for such medical attention, but private health care is expensive. Usually, the insurance also covers the expenses for 30 days of pre-hospitalization & 60 days of post-hospitalization expenses, medicines, surgeon's cost, doctor's consultation, and nursing.
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Coverup expenses from day one
Standard health insurance covers the expenses of a newborn once the baby is 90 days old. Whereas, maternity insurance covers the expense of the newborn from day one. Such flexibility assures the best health care to both mother and the newborn without any financial stress. Few maternity insurances also include vaccination charges for newborn rights.
Prepare for complications
Giving birth also includes a few complexities like premature birth, and that might need special medical attention and treatment. Such special treatment can cost up to ₹10,000 per day. Maternity insurance could provide relief from financial stress as most of such expenses are covered by the insurance. Insurance allows you to enjoy the feeling of parenthood without having to worry about finances.
Maternity insurance can be a great choice if you want to be stress-free at the time of entering parenthood while ensuring the best health care for newborns and mothers. Maternity insurance is not just a step of your financial planning, it signifies your family planning smartly.
Anushka Trivedi is a freelance financial content writer. She can be reached at anushkatrivedi.com