Pregnancy is one of the most rewarding periods of a woman’s life. It not only is a biological necessity, but it is also the fulfilment of the process of procreation ordained by nature. The decision to start a family is important in the life of a couple. Pre-Conception planning is a joint exercise that requires considering some vital parameters for the fulfilment of the desire to grow the family. Issues like health and timing are crucial, but the financial impact is equally important in the present scenario. It is in this context that suitable health insurance with maternity coverage becomes critical.
Before we delve into the aspects of the health and time factors for initiation of conception, let us consider the impact of health insurance with maternity coverage on the outcome of the process of conception and childbirth. The primary aspect of health insurance with maternity coverage is that it comes as a rider in a health insurance plan and that not all insurance providers have provisions. Thus it needs some insight into the scheme of health insurance in general and health insurance with maternity coverage in particular.
Factors to consider when choosing a maternity health insurance plan
Medical expenses are part and parcel of an individual’s life. The burgeoning health care expenses and meeting medical emergencies can prove disastrous to many. A suitable health insurance plan is the requisite protection that can save many by extending financial support in accessing medical assistance in case of emergent medical situations. The key factors influencing the purchase of a health insurance plan are:
- Financial Stability: Medical expenses in times of emergency can lead to the financial crisis, especially if you are responsible for the well being of the family. Rather than looking at it as an investment, it is prudent to view it as buying protection from financial ruin in times of unforeseen health crisis in future.
- Cost of Premium: It is determined by the sum assured and the riders opted for. Every individual has unique needs to meet. The type of health insurance plan, the riders like maternity cover, critical illness cover and the scope of cover are all determinants in the quantum of premium. Family Floater health insurance plan is a good option to cover the entire family.
What is covered under maternity insurance?
In the case of parenthood, health insurance with maternity coverage is ideal relief from financial worries as the rider affords key benefits that ease the process of parenthood. Interestingly, maternity coverage goes against the grain of insurance which works on a basic principle of covering an event that is least likely to occur rather than insure an event which is most likely to occur, as in the case of pregnancy. However, insurers still offer this rider for several reasons, the major being a marketing ploy, other than varied features:
- Covers hospitalisation expenses, including the cost of delivery regardless of being normal or caesarian.
- The cover includes pre and postnatal care.
- The newborn baby is also in the ambit of insurance cover.
- Ambulance charges are covered for transporting the would-be mother to the network hospital of choice.
Buying maternity insurance:
Planning for financial cover for starting a family makes sense. But opting for health insurance with maternity coverage requires critical analysis before making an informed choice. Decoding all the features of the rider and the factors to look for becomes crucial for a decent outcome. The intention is to ensure the best medical attention for the spouse and the baby. Let a holistic approach be made for evaluation of the right health insurance with maternity coverage.
- Wait period: Planning for parenthood can be constricted by the waiting period incorporated in such plans. It is wise to look for the lowest factor in this period where some plans offer a waiting period of 9 months, while some may extend up to 36 and 48 months.
- Sub Limits: Most maternity plans limit the expenses to a percentage of the sum assured. As of now, the best sub-limit offered is a maximum of Rs.50000/-.
- Co-pay: it is wise to check for this clause, as you may end up paying a percentage of the total expenses, irrespective of the sub-limit for maternity cover. It can be as high as 20% to 30% in some cases.
- Claim settlement ratio: A consistently high claim settlement ratio of the insurer is the sure sign of their practices and systems. It becomes crucial in meeting the medical expenses even with adequate health insurance coverage.
Effective ways to prepare for pregnancy
Now that one is well equipped with information related to the financial part of starting a family and parenthood; it is necessary to concentrate on the most important part – the conception and confinement. The planning needs to be meticulous for the sheer joy it is meant to bring in the life of couples graduating to parenthood. Let us consider five effective ways to prepare for pregnancies.
1. Health Status: It is of vital importance that the prospective parents are both healthy and are not on any medication. Medicines are best discussed with the physician. Use of contraception methods has to be fully withdrawn to help the onset of pregnancy.
2. Track menstrual cycle: It is the best way to ascertain the fertile window that is most likely to result in pregnancy. Any deviation in the cycle is also an indicator of an underlying disease that may inhibit pregnancy and seeking medical advice would become a necessity.
3. Ingest healthy diet: Adequate nutrition and intake of healthy food are vital to the well being of the prospective mother and the fetus on conception.
4. Shun harmful habits: Of crucial importance to parenthood is to come off habits like smoking and alcohol. It may affect the outcome and result in complicated confinement and childbirth, leave alone a healthy baby.
5. Physical activity: Mild exercises will benefit the parent with seamless confinement and childbirth. Yoga can calm the nerves and help bust stress factors.
Embracing parenthood is a fulfilling event in the life of couples. Planning for pregnancy and rearing the child is an important cog in the wheel of life. The pleasure in this phase of life needs careful active preparation, of which one vital component is catered for by opting for the ideal health insurance plan.