5 Common Mistakes to Avoid When Buying a Maternity Insurance Policy

How to choose a health insurance plan for pregnancy is one of the trickiest questions to answer. Regardless, choosing the right maternity plan is crucial for the safety of the expecting mother and child. 

Many parents, especially first-timers, make mistakes while choosing pregnancy insurance, which causes them trouble during the claim process. We will explain all the common mistakes to avoid while getting insured to ensure that you choose the best maternity health insurance policy. 

What is a Maternity Cover Insurance Plan?

A maternity health insurance plan provides financial support up to a certain extent for childbearing expenses. The coverage is not limited to pregnancy expenses; it also covers the early stages of the child’s life. 

5 Common Mistakes to Avoid When Buying Maternity Coverage

1. Ignoring Maternity Insurance Waiting Period

Maternity insurance comes with a pre-specified waiting period. It is a period after buying an insurance policy during which you cannot make any claims. This waiting period can vary from nine months to six years, depending on the provider. Thus, make sure to buy your maternity insurance well in advance; it can save you from last-minute inconvenience or claim rejection. 

2. Getting a Low-Cost Insurance Plan 

Always make sure to buy adequate coverage insurance plans; buying low-cost insurance means low coverage. Pregnancy is as much an occasion of joy, but it sometimes brings complications during delivery or after birth. To tackle these issues, you might have to undergo certain medical procedures. 

These procedures can be costly, and your low-cost maternity insurance might not be able to provide the right financial support. Thus, it is crucial to invest in high-coverage maternity health insurance policies. 

3. Not Checking Existing Health Insurance Plan

When you are wondering how to choose insurance when pregnant, make sure to check your existing plan for maternity coverage. Several plans do not offer maternity coverage in their base plans, but they do have rider coverage with an extra premium payment. 

If your health insurance plan does not cover maternity expenses, make sure to choose a suitable maternity rider to get the required coverage during pregnancy and childbirth. 

4. Not Checking Infant Cover

Several maternity coverage plans overlook the coverage for your newborn. But you should look for plans that have coverage for newborns along with you. Make sure to confirm the same with the insurer or read the policy documents for newborn coverage, either in the base plan or as a rider. 

5. Not Paying Attention to Maternity Plan Sub-limits

Not checking the sub-limit of maternity coverage is another mistake that you must avoid while buying a policy. A sub-limit refers to a fixed amount your insurer will pay towards a particular condition. Note that this amount is fixed, even if your overall policy limit is higher. 

This fixed limit can be a certain amount or percentage of the sum insured value. The sub-limit affects the premium price; the lower the sub-limit, the lower the premium price will be, and vice versa. 

However, it should be noted that with a lower sub-limit, you will have to pay the exceeding maternity expenses yourself. That is why the best health insurance plan for you will be one with a higher sub-limit or one without a sub-limit so that you do not have to worry about finances during pregnancy. 

When Should You Buy Maternity Coverage?

Healthcare services are getting more and more expensive with rising inflation rates. As a family planner, you should be aware that these maternity services are going to get expensive after a few years. Thus, it is important to buy a maternity coverage insurance plan as soon as possible. 

Moreover, there is a waiting period of 9 months to 6 years. Thus, make sure to buy maternity coverage beforehand so that you do not have to wait for coverage during childbirth. 

Summing Up

Childbirth is a beautiful and lifetime experience, but the procedure can also cost you a lot. Thus, buying a maternity cover insurance plan becomes a necessity to not only provide you with financial support but also protect you during a sensitive period. 

For example, with the TATA AIG maternity cover, you also get a newborn cover so that you and your baby stay safe during pregnancy and after childbirth. So, choose the right provider and buy maternity insurance today.