The idea of growing your family seems very exciting, but it also can be daunting, especially if your finances are not managed well. While planning your maternity expenses, you not only need to plan expenses relate to the mother’s treatment but also the newborn baby’s.
In India, a normal delivery, on an average, costs between Rs50,000 and Rs 75,000 while a C-section delivery can cost upward of one lakh rupees. Cost vary according to the hospital you choose. If you are one of those people who are building a corpus to use the money at the time of delivery, paying out of your pocket might not be such a good idea. Instead, the corpus can be used at the time of an emergency. Moreover, with recent changes in lifestyle, there may be complications during pregnancy, making treatment more expensive, this making maternity coverage important.
Maternity cover in health insurance not only pays for the mother’s hospitalisation for delivery but also covers other essential procedures that the mother is required to undergo such as ultrasound scan, blood tests, doctor’s consultations.
Maternity health cover in health insurance also pays for vaccinations of the newborn baby, depending on the product offered by your health insurance provider.
Your maternity cover may not apply from the day of purchase. Some health insurance providers impose a waiting period of two years or more for maternity coverage. Therefore, it is not just important to buy health insurance, it is also important to buy health insurance on time.
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