Insurance is a pretty complex subject to the layman or woman. Too many terminologies and concepts can confuse the consumers. The numbers of individual insurance holders are relatively few in comparison with the global data. Our citizens have the habit of handling their problems by visiting a local GP, self-medicating, or even brushing it off policy. They seek medical assistance only when things are severe. The Government is encouraging people to invest in an insurance policy to support them on a rainy day. Most corporate companies provide insurance to their employees and family as a part of their welfare program.
Some people also take the responsibility of sorting out this puzzle through private insurance firms. The rest of the population seem to struggle with the sudden and high medical expense. However, studies show that this scenario is consistently changing, especially after the pandemic. People are realising the fragile nature of life and are reconsidering their priorities. With medical inflation, almost every person do need the support of these policies. It might be pretty challenging to handle these high medical bills from their pocket. Though people are gradually beginning to understand the significance of medical insurance, they still struggle to choose the right one. There are different policy types, and finding the right one can be pretty challenging. This article will discuss health insurance with maternity coverage and reasons why you might need it.
Before we venture to the reasons for the need, it is imperative to know about the insurance itself. General health insurance would cover a varied number of ailments. But it is essential to understand that it will not cover everything. Insurance companies do not consider certain conditions within the standard bucket. This could be because they need specialised treatments or care. One of the primary elements that are not covered in the general package is maternity. Consumers can purchase this insurance as an add-on or an individual policy. With nearly 25 million children born every year in our country, health insurance with maternity coverage becomes necessary. People do need this policy more than ever, and here are the reasons.
Medical Inflation
Medical inflation is relatively high on a global level. This means that every treatment is getting more expensive by the day. When we say treatment, it does not just include the surgery or delivery in this case. It also includes diagnostics, pharmaceuticals, hospital stay and other ancillary charges. Therefore, it might be pretty challenging to handle it without proper health insurance with maternity cover.
Financial Stability
Couples beginning their life together might not have much savings. Though there might start right after the wedding, it might not be adequate for the mounting expenses during pregnancy. Health insurance with maternity cover would help them to handle this new responsibility with ease.
Stress-free Pregnancy
Parenthood is one of the joyous occasions for parents. They tend to undergo various transformations during this phase. It is pretty reasonable to worry about this new phase of life. The right health insurance with maternity coverage will help them handle the financial quotient. This will reduce stress considerably.
Waiting Period
Unlike other insurance policies, health insurance with maternity coverage has a long waiting period. Though there might be options with less waiting period, it would have high premiums. This can be avoided by choosing the policy well in advance. This will allow the policy to mature right in time for pregnancy.
Comprehensive Coverage
Women need full-fledged support during pregnancy. Health insurance with maternity coverage can provide them with maximum benefits. Always check for sub-limits and other relevant information while choosing the right policy.
The ideal way to choose a health insurance policy would be to analyse the individual needs. Leading companies such as Care Health Insurance offer customised packages for their customers benefit. Always do research and understand the policy regulation before making a decision.
Source – https://www.unicef.org/india/key-data
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