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Health Insurance with coverage of maternity

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17 Dec, 2022 by  Nitin Lahoti

I've been a HDFC Ergo Optima subscriber for the last 3-4 years. Recently, I realized that my policy does not cover maternity-related expenses, and now I am looking to make a switch/port.


Now, I am looking for a policy that covers all the expenses incurred during the pregnancy period (ideally the entire 9 months of pre-hospitalization expenses, i.e., tests, medicine, etc.) or at least the hospitalization during the delivery.


My policy is due for renewal in February, and I am looking for relevant options. Please suggest.

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Health Insurance
Opinion
Basics of Insurance

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17 Dec, 2022
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Hi Nitin,


Generally Pregnancy is not considered as a medical condition and is not covered in most good health insurance plans


Also, there are plans that give maternity coverage, please connect with an advisor to understand more about it who can assist you with port as well with proper guidance

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17 Dec, 2022
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Hi Nitin,


TLDR: Take a separate maternity plan temporarily for only your spouse while continuing your existing plan.


Explanation:

HDFC Ergo Optima (Restore or Secure) both plans are amongst the best in the industry now. So, I'd suggest you not to port unless you are not satisfied with the plan/company or you are getting much more benefits from another plan other than maternity (and new born). Most of the plans offering maternity are not really the best plans for overall health.


And maternity is generally a 1-3 times event occurring in a span of 1-5 years. So, this is a temporary requirement for which you can always take an additional plan which covers maternity depending on your requirement. And once you have utilized the maternity coverage, you can stop paying for this temporary plan unless required otherwise. And some maternity plans can be taken only for your spouse which will save some premium for you (eg: Star Health Women Care, ICICI Lombard Health Advantedge, etc.).


A quick example:
Considering a couple from (Bengaluru i.e. Zone 2) with husband's age: 32y and wife's age: 30y. Existing HDFC Ergo Optima of 10L costs ₹18,672 without any riders.

Option 1: Porting to Star Health Women Care policy for 1 crore (the SI giving the highest maternity/new born coverage and less waiting period of only 1 year) for the couple would cost: ₹39,949
Total premium for both for SI: 1 crore: ₹39,949

Option 2: Continuing existing Optima Restore plan (or better switch to the new Optima Secure plan): ₹18,672 + Opt a new Star Health Women Care policy for only spouse for 1 crore: ₹26,762.
Total premium for both for SI: 1 crore: ₹45,434

The difference in your total outgo is only an additional ₹5,485 while getting the same maternity coverage while continuing with the industry leading plan for general health.


And because maternity is usually covered only after a certain waiting period, even if you port your HDFC plan, you'd still need to wait until the waiting period gets over.


List of few plans offering maternity are already mentioned here: https://www.beshak.org/forum/post/maternity-plan-from-1st-day/


Thank you

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19 Dec, 2022
Nitin Lahoti
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17 Dec, 2022
CEO, Insurance Samadhan

Dear Nitin

Take the advise of Avinash .

Maternity benefits are limited

1. Sum assured can not be more than Rs 75000

2. Waiting period of 2 year

3. Medical cover for child

I agree with Avinash that u take a seperate plan for spouse .

Best wishes


Shailesh

Insurance Samadhan

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17 Dec, 2022
Shantanu

Hi,


Coincidentally I was looking for insurances with maternity cover in last week.


With least waiting period, I found Care Joy and Star Women (above 15lac) to be good.


Kindly go and compare them yourselves.


Thanks.

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19 Dec, 2022
Nitin Lahoti
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