Waiting Period in Maternity Insurance

What is a Maternity Insurance Waiting Period?

A maternity insurance waiting period is the preset time the policyholder should serve before accessing maternity benefits under a health insurance plan. The maternity insurance waiting period guarantees insurers oversee risk effectively while supporting policyholders in planning pregnancies. This period may differ across insurance companies, ranging from nine months to four years. During this tenure, the policyholder cannot access any maternity-related benefits under the plan.

How Does Waiting Period in Maternity Insurance Work?

If you want to make the best out of your maternity insurance, you must plan to buy it in advance. The maternity insurance waiting period ranges from 9 to 24 months, depending on the plan. It means you can claim the policy only once the waiting period ends. None of the claims is admissible during the waiting period. So, for instance, if you want to plan a family next year, get pregnancy insurance in advance to reap its benefits.

Why is Waiting Period in Pregnancy Insurance Helpful?

The maternity insurance waiting period enables insurance service providers to handle risks and provide extensive benefits to policyholders. It stimulates policyholders to plan their pregnancies and protect coverage early, guaranteeing economic readiness and reducing overhead costs.

• Financial Planning: The waiting period encourages people to buy maternity insurance in advance, assisting them prepare economically for forthcoming maternity costs.
• Helps manage insurer risks: It enables insurers to address risks by lowering instant claims, confirming the policy remains endurable and valuable for all policyholders.
• Promotes comprehensive coverage: Policies with waiting periods usually provide wider benefits, such as delivery, prenatal, newborn, etc., that ensure full support during the maternity period.
• Prevents immediate coverage abuse: The waiting period prevents mishandling the policy by people who aim for coverage only for existing or coming pregnancies.
• Boosts reasonable premiums: By addressing risks, insurance service providers can strengthen reasonable premiums for maternity insurance, making it available to more individuals.

Is there a Maternity Insurance Plans with No Waiting Period?

Parenthood has many responsibilities, including financial planning, which is crucial at this stage. To access the best medical care, one should opt for adequate maternity cover, considering the high cost of maternity insurance without waiting period in India. Opting for a health policy will ensure a safe pregnancy by covering a range of expenses such as delivery costs, pre and post-hospitalization medical costs, ambulance charges, and the newborn cover. Unfortunately, most insurance companies offer maternity insurance coverage with no waiting period. Usually, the waiting period ranges from nine months to two years for maternity insurance. Hence, it is crucial to strike a balance between your budget and the maximum period you can wait before it becomes necessary to claim the insured amount for pregnancy-related expenses.

In India, it is not possible to get pregnancy health insurance with no waiting period. Hence, it means that planning much ahead for pregnancy is hugely beneficial and necessary when signing up for a maternity policy.

Maternity Health Insurance by Care

Choose ‘Joy’, a maternity-based health policy by Care Health Insurance that will give you the right start to the journey of parenthood. It will provide you with financial protection against the rise in medical expenses during this phase of life. Besides providing comprehensive coverage for hospitalisation, prenatal and postnatal care, day care treatments, and ambulance cover, the plan also covers newborn baby till 90 days from birth. A maternity insurance with 9 month waiting period ‘Joy’ today is an advantage. So, you can avail of coverage for various maternity-related expenses immediately.

Moreover, with a cashless hospitalisation facility at 11400+ network hospitals, you can access medical care without worrying about paying hospital bills. We will settle your expenses directly with the hospital. Experience a hassle-free claims procedure with lowest waiting period for maternity insurance. Further, stay worry-free about renewals by opting for a multi-year policy.

Types of Waiting Periods in Maternity Health Insurance

There are mainly four major types of waiting periods:

• Maternity waiting period: Health insurance policies often provide basic coverage for the delivery, and certain policies go the extra mile to cover additional hospital costs. The common theme, however, is the waiting period, which varies based on policy. It is also essential to remember that it is difficult to get pregnancy health insurance with no waiting period. Thus, in all cases, it is always advisable to get maternity insurance, in advance while planning a family.
• Initial waiting period: The initial waiting period defines the number of days an individual must wait after buying the policy to become eligible to claim the insured amount. Generally, any illness contracted within the first 30 days from the day the insurance cover begins is not covered, except for accidental claims.
• Pre-existing condition waiting period: Generally, there is a clause for any pre-existing condition that the insured may have, for which the coverage can be limited or excluded for a particular period. Typically, the waiting period is up to 48 months in such cases.
• Ailment specific waiting period: Every insurance policy has a list of specified diseases that will not be covered during the first 24 months from the start of the policy. There might also be ailments that are aEvery insurance policy has a list of specified diseases that will not be covered during the first 24 months from the start of the policy. There might also be ailments that are almost immediately covered after the purchase. Reading the fine print and knowing the waiting periods for various illnesses is essential to choosing the right policy.

Does Maternity Insurance with No Waiting Period Exist?

The answer is no. There is no insurance company offering maternity insurance with no waiting period in India. Most insurers provide a waiting period of nine months to four years. Hence, couples who are planning to begin a family in the future must buy maternity insurance policies early so that they can serve the waiting period accordingly.

How to Choose the Best Maternity Insurance?

Choosing the best maternity insurance waiting period depends on timely planning and certain factors:

• Short waiting period:If you are pregnant and planning to buy maternity insurance, choose plans with minimal waiting time.
• Comprehensive coverage: Before purchasing the policy, ensure it offers exhaustive coverage like prenatal, delivery, and newborn care.
• Affordable premiums: Choose a policy that offers reasonable premiums with the offered benefits.
• Early investment: If you plan to purchase maternity insurance, early investment is a better option to overcome waiting period restrictions.
• Compare plans: Before purchasing maternity insurance, explore the market and compare plans offered by various insurance companies.

There is no maternity insurance coverage with no waiting period in India. Typically, the waiting period ranges from 9 months to 24 months.

Can Waiting Period Be Reduced?

Pregnancy is a crucial phase in a woman’s life; prior planning is the best way to start healthy motherhood. Since finding pregnancy health insurance with no waiting period policy may not be possible, it is necessary to plan much ahead as there is a waiting period clause.

Yes, the waiting period for pre-existing diseases can be cut short by paying a higher premium. In your individual health insurance or family floater plan. However, it is better to invest early to avoid any hassle when it comes to maternity policies.

Since getting maternity insurance for already pregnant Indian women is difficult, early financial planning is the only way to prevent any financial crisis during parenthood. It is a crucial step everyone should take for their family’s well-being. The maternity health insurance without waiting period will give the insured quality maternity care with benefits like cashless hospitalisation, newborn baby cover, and Section 80D tax benefits.

^^Number of Cashless Healthcare Providers till 25th March 2023.