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Bringing a child can be a wonderful and life-changing experience for any couple, but it requires preparation. It is not easy to manage the high medical costs associated with pregnancy, childbirth and newborn care. Therefore, financial planning is crucial to avoid feeling overwhelmed and vulnerable. Being financially covered for this big event of life is essential. Maternity insurance can make the journey of parenthood smoother, without any financial burdens. However, prior planning and consideration of waiting periods are required to get the maximum benefit.
What if you are already pregnant? Can you get maternity insurance when already pregnant? Keep reading to find out.
How Does Maternity Insurance Work?
The costs of maternity-related medical care can get relatively high depending on the case and any complications. A regular health insurance plan may not cover maternity expenses. Hence, specialised maternity insurance plans are available as stand-alone insurance plans or as riders that you can add to your existing coverage. If you already have a health insurance plan, check if your insurer provides a maternity add-on benefit. You can include a maternity add-on while renewing your existing health insurance policy, or buy a stand-alone maternity insurance plan that fits your needs.
Here are some common elements of maternity insurance that you should know before investing. Understand all the aspects well before buying maternity insurance.
A. Age limit
Most maternity insurance plans have an entry age limit of up to 45 years, depending on the insurer and plan type. However, the Care Joy Today maternity insurance plan offers a maximum entry age limit of 65 years.
B. Number of Pregnancies Covered
Maternity insurance plans typically cover up to two deliveries, as long as the sum insured has yet to be fully used.
C. Insurance Coverage
Maternity insurance coverage includes hospitalisation costs, pre- and postnatal care, pregnancy-related diagnostic tests, newborn care, including congenital disabilities or any other complications up to 90 days after the child is born, and delivery charges for normal and medically necessary C-section delivery, as per the policy's terms and conditions.
D. Waiting Period
Nine months to 2 years is applicable before you can claim maternity benefits. Hence it is advisable to buy maternity insurance before you start planning a family so that your waiting period is over by the time you have a baby.
E. Pre-existing Conditions
Pre-existing conditions are covered under maternity insurance only after a waiting period defined in the policy.
F. Sublimits and Exclusions
Check sub-limits and exclusions to better understand your health insurance coverage if already pregnant. Review your policy terms and conditions and check the sub-limits for maternity benefits. Always select a plan with higher limits.
Can You Get Maternity Insurance If Already Pregnant?
Maternity insurance comes with waiting periods and you have to wait till the waiting period is over to claim maternity benefits because pregnancy is considered a pre-existing condition by insurers. These waiting periods range from 9 months to 2 years depending on the policy you take. So, if you are already pregnant, you must wait a minimum period of 9 months. Hence, it is not possible to get comprehensive maternity coverage once you are pregnant. However, you can get hospital coverage when already pregnant if you have a health insurance plan.
When Should You Buy Maternity Insurance?
The decision to buy a maternity cover depends on your life stage. Considering the rising costs of medical care, it is necessary to buy maternity health insurance early in life. Young couples who eventually start a family should purchase comprehensive maternity insurance as early as possible and not wait to start planning because health insurance may not cover any maternity benefits if they are already pregnant. Here are situations when buying a maternity insurance plan is recommended:
- Newly married couples should start planning for their future, and maternity insurance should be a part of the planning
- Couples below 40 years of age without children, should consider buying maternity insurance
- Women who are planning to have a second baby should buy a plan without delay
- Couples who are planning to get married within 2 to 3 years should consider buying a maternity insurance
- Working professionals who are planning to have kids at a later stage, should consider buying a maternity insurance plan immediately. This can help you avoid the waiting period when you need to avail the benefits during pregnancy.
Enjoy the Journey of Parenthood With Care Joy
Maternity insurance not only takes care of the maternity expenses but also takes away the stress so you can enjoy and cherish the joyous journey of parenthood. It keeps you financially secure and protects against any complications during parenthood.
Care Joy is a maternity plan offered by Care Health Insurance that offers a wide range of benefits, including delivery charges, hospital stays, and newborn baby coverage. It covers any hospitalisation during the policy tenure. The plan comes in two variants, Today and Tomorrow, with a lifelong renewability feature. So, if you have still not purchased maternity insurance, why wait to buy it when you are already pregnant? Explore the value-added services offered by Care Health Insurance to make the right decision at the right time.
Disclaimers: All plan features, benefits, coverage, and claims underwriting are subject to policy terms and conditions. Kindly refer to the brochure, sales prospectus, and policy documents carefully.
