Top 5 Best Maternity Benefit Insurance Policies in India
Shraddha Shitut
Last Updated: 21st July 2017 - 03:30 am
Maternity is a very beautiful and happy feeling for any individual. For most middle class families it becomes difficult to meet up the expenses, pre and post hospitalization which in turn leads to higher costs. It’s not necessary that all the companies will be providing you Maternity benefit. However, few companies offer some health plans with coverage of maternity insurance as add on by paying extra premium. Nowadays, the cost of delivery in a decent hospital in any metro cities will cost you between Rs. 50,000 till Rs. 2 lacs.
Why you need Maternity Health Insurance?
As a responsible parent, you should be well prepared for the pregnancy related cost and delivery of the baby. As the medical cost is increasing day by day, one has to be prepared for all expected and unexpected expenses. And that is the reason why should get cover for Maternity Health Insurance.
Let us know, Top 5 best maternity benefit insurance policies
1) Religare Joy Health Insurance Plan
There are 2 variants in the policy
-
Joy Today
-
Joy Tomorrow
| Entry age | Minimum: 18 years for adults; baby covered from Day 1 Maximum: 65 years | ||||||
|---|---|---|---|---|---|---|---|
| Waiting Period |
| ||||||
| Maternity expenses cover | For both plans, maternity expenses covers pre & post natal expenses.
| ||||||
| Hospitalization expenses | Pre hospitalization expenses - 30 days Post hospitalization expenses - 60 days |
For more details about this plan, please refer to Religare Joy Maternity Cover
Recommendation: This plan may give you the lowest waiting period. Lets say, if your age is between 18-45 years and you are choosing for Joy today 3 lakhs sum insured, your average premium for 3 years will be approximate to Rs. 56,748/-. If you choose Joy Tomorrow, your approximate premium for 1 year will be Rs. 20,393/-. So, if you require lowest waiting period plan exclusively for Maternity then this plan might be good for you.
2) Cigna TTK Pro health Plus Plan
| Entry age | Minimum: 18 years for adults; 91 days for child Maximum: No limit |
|---|---|
| Maternity expenses cover | Normal Delivery: Rs. 15,000/- Cesarean Delivery: Rs. 25,000/- |
| Waiting Period | 48 months is Waiting period. By paying extra premium, one can reduce this waiting period to 24 months. |
| New born baby vaccination cover | All vaccination expenses of new born baby covered till 1 year. |
For more details about this plan, please refer to Cigna TTK Prohealth Plus
Recommendation: This is a dual benefit plan which not only covers maternity but also other health related ailments. Lets say, if you ae opting a policy for 7.5 lakhs sum insured for yourself and for your wife aged, 27 and 25 years respectively., then the average premium will be approximate to Rs. 11,416/-. Here, you have an option to avail an add on cover to reduce the waiting period by paying an extra premium of Rs. 7,618/-,
3) Apollo Munich Easy Health Insurance
There are 2 variants in the policy
-
Apollo Munich Easy Health Exclusive
-
Apollo Munich Easy Health Premium
| Entry age | Minimum: 5 years Maximum: 65 years | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| Maternity expenses cover | For both the variants,
| |||||||||
| Waiting Period |
| |||||||||
For more details about this plan, please refer to,
Apollo Munich Easy Health Exclusive Plan
Apollo Munich Easy Health Premium Plan
Recommendation: This is a dual benefit plan which not only covers maternity but also other health related ailments. If you opt for higher sum insured plan, your waiting period will reduce. Lets say, if you are opting a policy for 7.5 lakhs sum insured for yourself and for your wife aged, 27 and 25 years respectively, then the average premium will be approximate to Rs. 14,189/-
4) Star Health Wedding Gift Insurance Policy
| Entry age | Minimum: 18 years Maximum: 40 years Renewal up to 45 years of age | ||||||
|---|---|---|---|---|---|---|---|
| Maternity expenses cover | For both the variants,
| ||||||
| Waiting Period | 36 Months | ||||||
5) Max Bhupa Heartbeat Family Floater Plan
There are 3 variants in the policy
-
Silver Plan
-
Gold Plan
-
Platinum Plan
| Entry age | Minimum: No age limit Maximum: No age limit | ||||||
|---|---|---|---|---|---|---|---|
| Maternity expenses cover | For all the 3 variants, sum insured available from 5 lacs to 50 lacs and maternity cover starts from Rs. 40,000/- till Rs. 1,00,000/-
| ||||||
| Waiting Period | 2 years |
Recommendation: This is a dual benefit plan which not only covers maternity but also other health related ailments. Lets say, if you are opting a policy for 5 lakhs sum insured for yourself and for your wife aged, 27 and 25 years respectively, then the average premium will be approximate to Rs. 21,494/-. Compared to other health insurance plans above, this plan has a waiting period for 2 years.
Conclusion
There is such a huge rise in maternity expenses these years, that the couple have to opt for Maternity Insurance Policy. Normally, any insurance company do not consider you to be eligible for purchasing the policy, if you are already pregnant. For the working women, who are already covered under the group insurance, do not think much about it, but the non-working women should actually opt for this Maternity Insurance immediately after marriage to take care of the long waiting period.
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