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5 mistakes to avoid while buying a maternity insurance policy

Team AckoJan 17, 2024

In the initial stages of childbearing and rearing, healthcare expenses are inevitable. Possessing maternity insurance may help you manage these costs. If you are unfamiliar with maternity insurance, don't worry. In this article, we will be discussing 5 mistakes to avoid while buying a maternity insurance policy.




What is a maternity insurance policy?

A maternity insurance policy grants financial support up to an extent towards childbearing expenses. This coverage is usually not only limited to just pregnancy expenses, but also extends up to the early stages of the child’s life.

Types of maternity insurance

Usually, maternity insurance can be bought as an additional coverage on top of a health insurance policy. Also, some group health insurance policies offered by companies to their employees cover maternity-related costs. However, the coverage is only up to a specified limit. Thus, it is better to buy an individual plan apart from the insurance offered by your company.

5 mistakes to avoid while buying maternity insurance

Below are some common mistakes to avoid while choosing a maternity insurance plan.

1. Waiting until pregnancy to buy maternity insurance

You may be wondering what is the need to buy maternity insurance if you are not expecting pregnancy any time soon. Well, usually, you may have to serve a waiting period of 9 months to 6 years before availing of coverage for maternity-related expenses. 

Meaning you cannot raise claims for pregnancy-related costs during this time. Thus, it is not wise to wait until the last minute to buy maternity insurance. Try buying it well ahead to avoid being stuck in the waiting period.

Learn more about waiting period for health insurance.

2. Not purchasing a maternity rider

Not all health insurance policies cover maternity-related expenses under the base plan. So, if your health insurance plan doesn't cover maternity-related costs, you can opt for maternity cover as a rider for a little extra premium. Hence, it is important to first check if your health insurance covers maternity expenses and then choose to buy a rider accordingly. You can find the inclusions of a health plan by reading through its policy wordings.

3. Buying a low-cost plan

We all love to save our hard-earned money. But, choosing a low-cost maternity cover will only decrease the scope of coverage you receive under the plan. The cost of the plan is usually proportional to the extent of coverage. Meaning, that the lower the price you pay, the lower the sum insured and the resulting coverage.

The costs associated with maternity are unpredictable. In the unfortunate event of complications during pregnancy or delivery, you may require specialised procedures. These may be expensive, but crucial. That is why we recommend that you choose a plan that has a reasonable sum insured, according to your budget and requirements.

4. Not checking if the plan covers your infant

While looking for maternity insurance, you may overlook coverage for your baby. It is important to make sure that your baby also receives coverage under the plan, not just you. Because not all insurance plans offer a newborn baby cover. So, you have to check with the insurer or read the policy wordings of a plan to find out if this is an inclusion.

5. Being unaware of your maternity plan’s sub-limit

Sub-limit usually refers to a fixed monetary limit you will be subject to while availing a claim for a particular condition. This fixed limit may be a specified amount or a percentage of the sum insured. Usually, lower the sub-limit, lower the premium charged and vice versa. 

However, if you choose a plan with a low sublimit, you will have to pay for most of the expenses from your pocket. That is why it is better to choose a maternity insurance plan with a high or no sublimit. That way, you don’t need to worry about managing funds during pregnancy.

When to buy a maternity insurance policy?

Due to inflation, the price of healthcare has increased and unfortunately, may only continue to increase with time. This includes maternity-related costs. That is why, if you are a woman, it is paramount to buy maternity insurance as soon as possible. That way, you can enjoy the birth of your child without worrying about high healthcare expenses. You can leave that responsibility to your insurer. 

Also, as previously mentioned, maternity insurance usually comes into effect only after a waiting period of 9 months to 6 years. Thus, leaving it to the last minute will only cause you unnecessary stress at the time of child bearing. Hence, we recommend that you buy it well in advance. That way you don’t have to worry about not receiving coverage due to the waiting period.

In a nutshell

Birthing a child is a beautiful experience for parents. However, the costs associated with maternity can heap up. Thus, if you don’t plan your finances in advance, it can turn out to be a financial burden for you. That is why we recommend that you proactively buy maternity insurance. That way, you can enjoy every moment of welcoming your child into this world without worrying about funds.

Frequently asked questions

The following are some questions that may help you understand maternity insurance better.

What is the premium payable for maternity insurance?


The premium charged for maternity insurance is usually on the higher side. The reason is that pregnancy is a common claim and is claimed more often than not. This is contrary to usual insurance, where claims may or may not be raised for a condition. Also, availing maternity treatments are expensive. Nonetheless, you can find a cost-effective plan by comparing plans online.

Is it true that pregnancy is considered a pre-existing condition under maternity insurance?


Yes, if you buy maternity insurance during pregnancy, it will be treated as a pre-existing condition. Pre-existing conditions are usually subject to a waiting period of 2 to 4 years. Consequently, you may not be able to raise claims for maternity-related expenses during that pregnancy.

How to raise a claim under maternity insurance?


You can raise a claim under maternity insurance either by Cashless Claim Process or Reimbursement Claim Process. Under the Cashless Claim Process, you can receive treatment from a network hospital and your insurer will settle the bills directly with the hospital, you just have to pay the applicable deductibles. Alternatively, you can choose an accessible hospital, pay the bill and get the bill reimbursed by your insurer. Coverage for both processes will be as per the policy wordings.

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Disclaimer: The content on this page is generic and shared only for informational and explanatory purposes. It is based on industry experience and several secondary sources on the internet; and is subject to changes. Please go through the applicable policy wordings for updated ACKO-centric content and before making any insurance-related decisions.

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