An insurance plan may have a lot of benefits, however, while choosing the right one you may get confused. The market of maternity policy in India is huge and diverse and a lot of players to choose from, hence, the question is which policy and insurance provider should you choose? 

Understanding the benefits that you need to look for in a maternity policy in India will help you select a suitable plan:

Restoration Benefit 

Investing in insurance may seem risky and consumers might have a sceptical notion regarding the schemes. Therefore, we recommend you go for a maternity policy in India that will provide you with restoration benefits. In case the policy is exhausted in one policy year the money invested will return automatically, which decreases the risk of investing in the plan. 

Value-Added Services

Value addition is the provision for offering better service with added benefits, as a result, you should opt for maternity plans that provide you free health check-ups and exemptions from pre-entrance health check-ups under a certain age limit. Such plans vary from one service provider to another; however, there is also provision for a 10% increase in the value of the money invested each year in case there is no claim for the previous policy year. 

Multiple Coverage

Maternity policy in India has a huge range, which enables the consumers to choose from different sources with user-friendly features. You can choose policies that offer two deliveries and lawful termination of plans if you do not want to continue with the plans. 

Know Your Sub-Limits

Maternity payout is usually limited and the coverage under a health plan is at times not adequate, therefore, we recommend you to be aware of the sub-limits when choosing a maternity policy in India. This is because it may not be sufficient for covering the medical expenses borne while delivering the baby, especially if you have planned it for a few years later. The medical inflation will have a considerable impact on your health plan’s coverage amount. 

Premium Rates of Maternity Policy in India

Most of the premium rates are high in the case of maternity policies, which are also influenced by the age and health condition of the parents. On that account, it is better to research and compare different firms and the rates to ensure a nominal amount for your maternity plan, which is not too tight on your budget. 

Scope of Coverage

You can expect coverage of different expenses under a maternity policy in India. A consumer can avail reimbursement of expenses while hospitalised or take advantage of the cashless claim facility. Some of the schemes also cover the cost post-hospitalisation, however, this includes certain criteria. Yet, a promising policy will offer the minimum benefits of pre and postnatal under a specified timeframe or policy period, additional costs related to transportation, nursing and medicine.

Key factors You Should Know

Purchasing a maternity policy in India is easy and consumers can avail the same at any given point of time. However, while buying a policy, it is always important to consult an insurance professional as you may get advice to identify the best-suited plan as per your needs and interest. Moreover, do not rush and take timely decisions to choose plans so that you do not encounter any discrepancies, which may disrupt your financial plans.

A plan with multiple benefits is always a good deal and reputable insurers like Care Insurance can be the right choice to seek a maternity policy in India. Maternity policy is essential in the current decade as rise in health service costs may incur heavy expenses, therefore, while planning for a family, always choose the right plan, which can provide long-term benefit and proper value proposition for the funds you have invested.

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