5 Important Things To Know About Maternity Cover For Mothers To Be

Outlook Money

What Is Maternity Cover?

Maternity insurance is a specialised cover that includes expenses related to childbirth, including associated complications, prenatal and postnatal care, infertility treatments, legal support, and vaccination cover for the newborn, along with wellness features for expecting mothers.

maternity Cover in Insurance

Importance

Having an individual maternity cover ensures financial continuity, especially if you switch jobs or exit your group health insurance plan.

Waiting Period

Maternity insurance policies typically have a long waiting period of nine months to three years, making them unsuitable for expectant parents who cannot afford ongoing pregnancies.

Time Limit

Sub-Limits Can Limit Your Coverage

It’s not just about getting covered; it’s about how much the insurer will pay. Sub-limits, where insurance caps the amount reimbursed for certain treatments, are common in maternity policies.

Bundled Maternity Cover

Bundled maternity cover policies provide better value, offering lower premiums and risk pooling compared to standalone add-ons, thus resulting in a more balanced pricing approach.

GST On Apartment Maintenance: Here's What Residents Need To Know

Read More