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Best Maternity Insurance Plans in India

Health insurance with maternity cover and childcare benefits provide for the expenses incurred before, after, and during the delivery process of a child.

Expecting parents are often bombarded with expenses related to pregnancy and childbirth. If there is no backup plan to cover financial responsibility, one could end up draining a lot of savings or may leave with no savings for the future. Here comes maternity insurance as a boon to provide a financial shield in the time of need.

What is the Maternity Insurance Plan?

An appropriate maternity health cover or insurance should be enough to pay out the entire expenses incurred during the pregnancy. A maternity plan should provide:

  • Financial aid to pay off the delivery charges such as room rental, ambulance charges, surgery charges, etc. even if it’s a caesarean operation as opposed to a normal delivery
  • Emergency care should also be covered for the mother and the child
  • Other hospitalization charges are also covered
  • Tax saving benefits and cashless payment facility is also provided to the expecting couple

Best Maternity Insurance Plans in India

Now, that the importance of having an adequate health cover with maternity benefits is evident, all available options out there should be analysed for buying the best:

Bajaj Allianz Health Guard Gold Plan with Family Floater Cover

The total sum offered under this plan ranges from Rs 1.5 lakh to 50 lakh and a portion of this can be used as maternity coverage as per specified.

Bharti AXA Smart Super Health Cover

The policy offers maternity benefits with 9 months waiting period. The policy benefits can be availed up to 2 deliveries which is available only with a 3-year policy. Newborn babies can be covered for the first 90 days. The policy sum insured ranges from Rs 5 lakh to 1 Crore.

Chola MS Privilege Healthline Insurance

After 3 continuous renewals, the policy covers maternity benefits up to Rs 1 lakh per delivery. The coverage can be availed for 2 deliveries, where newborn baby coverage is also offered up to the floater sum insured.

Digit Health Plan with Maternity cover

Under its group and regular health cover, the insurer provides maternity coverage. While it is an in-built cover under the group plan, in case of regular health insurance option, the coverage is offered as an add-on with a waiting period of 2 years. The policy covers delivery and pregnancy expenses. Infertility treatments could also be covered along with newborn baby up to the first 90 days.

Edelweiss Gold and Platinum health cover

Both of these plans offer maternity cover after a waiting period of 4 years. The gold plan offers up to Rs 50,000 and platinum offers up to Rs 2 lakh as maternity coverage. NCB benefit up to 50% is to be availed for every claim-free year.

Future Generali Health total Mediclaim cover

This plan offers medical benefits along with maternity cover after a waiting period of 2 years. The policy offers sum insured raging from Rs 1 lakh to 1 Crore. Family discount of 10% is to be availed in case of more than one individual is covered.

HDFC Ergo Health Easy Health Exclusive Plan

Formerly known as Apollo Munich Health Insurance, this policy is offered by HDFC Ergo Health Insurance that covers maternity as in-built cover. However, the newborn cover is to be added as an add-on cover in payment of an additional premium. Some of the key features are:

  • All maternity expenses covered
  • Neonatal expenses up to 3 months of age are covered
  • The upper limit is of Rs 50,000
  • The waiting period is of 4/6 years as per the plan variant
  • Normal and Caesarean deliveries are covered 

ICICI Lombard Complete Health Insurance

Maternity coverage with this plan can be availed as optional cover with an additional benefit. Some of the key features include:

  • Coverage is extended to the new-born for the first 90 days
  • All maternity expenses are included in the plan
  • The maximum amount offered is Rs 25,000 and 15,000 for cesarean and normal deliveries respectively
  • The waiting period is of 3 years
  • The maternity benefit is extended up to 2 deliveries 

Kotak Mahindra Premier Cover

This is a health plan with added maternity benefits, which requires the insured to take a combination of maternity, newborn baby cover and vaccination cover altogether. Up to 2 deliveries are covered in this plan, with pre- and post-delivery benefits and childcare. Vaccination charges are also covered for the first two years.

Max Bupa Heartbeat Family

This policy offers maternity benefit under its two variants namely Gold and Platinum. Under Gold Variant up to Rs 1,00,000 coverage is offered, while under the Platinum variant, Rs 2,00,000 as maternity benefit is offered. Some of the key features are:

  • Maternity and childcare benefits including first-year vaccinations
  • New-born is insured from birth
  • There are refill benefits offered if the sum assured is used up completely or partially
  • The waiting period is of 2 years 
  • No additional premium is required to cover a newborn baby from Day 1

ManipalCigna ProHealth Plus

Maternity, childcare expenses with vaccinations are covered under this plan. After four years of waiting period, the maternity benefits can be utilised.

New India Assurance Mediclaim plan

It is an all-inclusive health plan with maternity benefits included in plans with at least Rs 5 lakh as the sum assured. But the waiting period is of 3 years. Where newborn baby cover is in-built, maternity cover is to be availed as optional cover.

National Insurance Parivar Plus Mediclaim plan

Maternity cover is provided along with the health cover. Rs 3000 and 5000 are given for normal and caesarean delivery, respectively. The policy offers higher sum insured up to Rs 50 lakh, under which maternity expenses are too covered along with newborn cover. The policy provides expenses incurred in treating infertility, vaccination charges for newborn and children etc.

Oriental Insurance – Happy Family Floater cover

Happy Family Floater Plan by Oriental Insurance offers maternity coverage an inbuilt feature to this policy. The policy also provides newborn baby cover.

SBI Arogya Premier Plan

This plan is available as a health cover that has added maternity benefits after a waiting period of 9 months. It can also cover the expenses incurred from alternative medicine treatments. The policy is loaded with features like 10% no claim bonus, extensive SI options, no pre-policy medical check-up to the age 55 years etc. with these; the policy can be a good health coverage option along with a maternity benefit.

Royal Sundaram Total Health Plus

When it comes to offering maternity insurance, Royal Sundaram has covered this benefit under its Master Product-Health Total Plus. It is a complete health insurance package, where maternity benefit is offered as in-built cover.

Some of the key features are:

  • 5 % no claim bonus on renewal
  • Coverage for 2 deliveries
  • The waiting period is of 3 years
  • Under Gold Plus variant Rs 30,000 is offered as maternity benefit
  • Platinum Plus variant offers Rs 50000 as maternity benefit

Tata AIG Medicare Premier

To avail for the term 1, 2 and 3 years, the policy offers maternity coverage up to a maximum of Rs 50,000. In case of the birth of a girl child, Rs 60,000 is ensure as maternity benefit. Some of the policy benefits include ambulance cover, cashless services at more than 4000 network hospitals, lifelong renewability, global cover etc.

Universal Sompo Complete Health Care Insurance

It is a comprehensive medical cover that covers dependent children as well under the same family plan. It also denotes a fraction of the sum assured that can be utilised as maternity and childcare cover. Under its maternity and newborn benefit cover the policy includes medical expenses associated with a normal pregnancy and child birth. It offers coverage for normal delivery, complicated delivery and caesarean expenses while hospitalised.

Features and Benefits of the Maternity Insurance Plan

Maternity coverage is beneficial for an expecting mother and her family. The striking features and benefits of this plan are:

The inclusions provided in the plan could be different from provider to provider, but generally, the following are covered:

  • Coverage for the new-born in case of critical illnesses and other disorders
  • Neonatal vaccination may be covered
  • Ambulance charges can be covered
  • Outpatient and inpatient services are covered in certain plans
  • Coverage for hospitalization expenses
    • Pre- and post- hospitalization expenses are covered from 30 days before the delivery and 60 days after delivery
    • Includes charges incurred from room rental and nursing, and other expenses
  • Delivery expenses from R. 25,000 up to 1 lakh can be covered by some plans
  • Pre- and post-delivery expenses, but usually depends on the delivery condition (caesarean or normal birth)
  • Cover for emergency situations might be up to Rs 50,000 (can cover the cost of an air ambulance or flight)
  • The premium for health insurance policies with maternity benefits might be higher due to an almost perfect claim ratio, thus causing a risk to the insurer
  • Insurers have a waiting period for at least 9 months to 3 or 6 years after which the coverage for maternity expenses is offered
  • Insurers offer the facility for going cashless at their network hospitals across the country
  • The premium for the next year is discounted if no claims had been made in the past
  • Tax can be saved under Section 80D of the IT Act, 1961
  • The total sum offered can be selected by the insured individual, however, going for a bigger pay-out might equate to paying out a higher premium each year

Disclaimer: *Paisawiki does not endorse, rate or recommend any particular insurer or insurance product offered by an insurer.

How to Buy Maternity Insurance Plan?

Buying the right health cover is a tough task for anyone, and even more so when people have to look for the appropriate maternity and childcare plan. Comparing plans provided by various insurance providers should be the only way to buy the best insurance plan pregnancy.

Most insurers have their comprehensive health care plans with maternity benefits or just pure maternity plans available on their online portals that can be analysed by the buyer. It is also available as an add-on product with individual or family floater health insurance plans.

Any married woman between the ages of 18 to 45 years is eligible to apply for the plan, and a child between the ages of 1 day to 24 years can utilise the benefits offered by a childcare plan.

Documents Required to Buy Maternity Insurance

Like any other health insurance plan requires, the buying process of Maternity Insurance requires the documents such as ID, age, and address proofs, medical check-ups for assessing the risk profile and photographs to be submitted without fail.

How to Compare Maternity Insurance Plans?

Healthcare in India is getting expensive with time, which makes the expenses associated with childbirth a big concern for expecting parents.

Many expecting mothers these days opt for a cesarean operation, or due to unforeseen complications, the cost of a hospital stay could be a burden. Above all, these expenses might not be covered by a normal health plan.

An individual Mediclaim/health plan might not even offer maternity or childcare benefits, or the sum assured might not be enough, even if it provides the required coverage.

Coverage under the group health plan provided by the employer could have an upper limit on the sum assured that might be insufficient for covering all expenses incurred. 

For living out the best moments of any parent’s life stress-free, a maternity plan should be bought after a thorough comparison. One can opt for online comparison options, which can be done within a few minutes.

Things to Consider While Buying the Maternity Insurance Plans 

There are certain aspects that a prospective buyer should look out for when buying a maternity cover, such as:

  • If there is a comprehensive cover being provided by the employer with added maternity benefits, then that policy should be opted for.
  • If the sum assured for the employer’s policy is not going to be enough, then a standalone maternity plan should be bought by the employee.
  • Maternity cover shouldn’t be the only type of health cover one should invest in. Buying all-inclusive health insurance with maternity cover seems beneficial in the long run.
  • The policyholder can’t avail of the maternity benefits right away due to a waiting period. Hence it is advisable to get the cover in advance and not when someone is expecting a child.
  • In India, the plan can be purchased by a married woman before she reaches 45 years of age. Hence, it is impractical for those planning a late pregnancy. Also, once this age is reached, the insurer may deny a pay out to the expecting mother. 

FAQs

Written By: Paisawiki - Updated: 30 June 2020

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