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A Guide to Term Insurance for Pregnant Women

Maternity or pregnancy is an essential aspect of one's life. For embracing parenthood, preparing in advance is essential. Having a child is a moment of great joy for the family but an expensive affair too. It requires strong financial backing to fulfil a growing baby's requirements. From a stay at the hospital to costs of delivery to various medicines and medical tests, well-constructed term insurance for pregnant women will help pay for the various costs associated with pregnancy so that one can enjoy the wonderful moment of life.

What is Term Insurance for Pregnant Women?

Term Insurance for pregnant women is a plan which covers various costs of hospitalization and other expenditures arising due to pregnancy. The plan covers pre and post-hospitalization charges, ambulance costs, delivery costs, which is irrespective of the nature of delivery, pre and post-natal care of newborn baby and provides financial protection in pregnancy. In some plans, there is also coverage available for the newborn baby for a certain amount of time. 

How to Apply for Maternity Term Insurance?

For applying for the Maternity Term Insurance, follow the below steps:

Step 1: Visit the official website of PaisaWiki

Step 2: Fill in your gender, Full name and Mobile Number

Step3: Click on ‘Get Free Quotes’ tab

Step 4: Choose the plan as per your preferences

Step 5: Calculate the premium

Step 6: Upload the necessary documents

Step 7: Click on 'buy policy.'

Once the form is filled up, pay the premium amount using net banking or through debit or credit card

After the payment is made, the policyholder will get intimation of the same through E-mail and SMS. For the offline process, visit the nearest branch of the policy provider.

Features and Benefits of Term Insurance for Pregnant Women

Features of the term insurance plan for pregnant women are as follows:

  • All-round Coverage

    A maternity health insurance plan covers the expenditures for pre and post-hospitalization charges, delivery costs, medicines, consultation fees, ambulance charges, and hospital room rent.

  • Newborn Baby Coverage

    Term insurance plan for pregnant women not only covers pregnancy costs of the mother but also financially secures the newborn baby, in case of critical illnesses.

  • Hospitalization Expenditure

    For pregnancy-related pre and post-hospitalization costs for a specified period is covered in a maternity health insurance plan.

  • Accidental Death Benefit

    Some of the plans also offer Accidental Death Benefit under the plan variation of Protect Plus. Under this, if the insured does not survive until the maturity date of the policy, then 100% of the Assured Sum is paid to the beneficiary or the entitled nominee

  • Cashless Facility

    Term insurance plan for pregnant women provides a cashless facility at a network of around 4000 authorized hospitals across India.

  • Claim Free Bonus

    Discount can be availed on the premium for next year, in case there are no claims raised by the policyholder in a particular policy year.

  • Quick Online Application

    Many maternity term insurance plans offer policyholders the convenience of online application. 

  • Tax Savings

    Tax benefits can be availed according to Section 80D of the Income Tax Act, 1961, on maternity term health insurance plans.

Benefits of the Term Insurance Plans for Pregnant Women?

Here is a rundown to the core benefits of the term insurance plans for pregnant women:

  • Outpatient services and in-patient services are covered in the term insurance maternity plan.
  • Pre and post-natal care for the newborn care provided by maternity plans.

  • Different coverage like:

  • There are discounts offered and reward programs on premium paid
  • Pre & Post Natal Expenditures - Some maternity term insurance plans cover for normal and caesarean delivery with pre and postnatal expenses covered

  • Some policies might cover for post-delivery complications

  • In emergencies, the plan covers for the evacuation of the person insured at foreign locations and in India through air ambulance or flight 

Things to consider before buying Term Insurance for Pregnant Women

Things that need to be considered before buying the term plan are its inclusions and exclusion offered: 

  • Inclusions offered under maternity health insurance plans. It may vary from plan to plan.

  • Covers for delivery expenses that are expenses related to childbirth - normal and caesarean delivery

  • Pre and post-natal expenses

  • The plan covers for newborn baby expenses like vaccinations till the expiry of the policy
  • It covers for expenses on

  • Some insurance providers also cover for international coverage and domiciliary hospitalization 

Exclusions under a maternity health insurance plan which also differs from plan to plan:

  • Expenses on vitamins or supplements which are not recommended by a doctor

  • Diagnostic tests

  • Follow-ups

  • Regular check-ups during the gestation period

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