Waiting Period in Maternity Insurance

What is Waiting Period?

Securing your financial future is perhaps the most crucial commitment you need to make when starting a family. Every expecting mother deserves special care, and having a good maternity insurance plan is the first step. The waiting period is a vital factor to consider in every health insurance policy. A waiting period in health insurance is defined as the time that must pass before one can avail of the full benefits of the coverage. However, maternity insurance for already pregnant Indian women is not available because most insurance companies consider it a pre-existing disease. How Does Waiting Period in Maternity Insurance Work?

If you want to make the best out of maternity insurance, you should get 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, 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?

Waiting for what you and your baby deserve is worth it. As maternity insurance plans with no waiting period is not an option, understand the importance of a waiting period in pregnancy insurance. Check below how the waiting period in maternity insurance is helpful:

• Couples planning to get married soon but want to enter into parenthood after a year can buy it. They can easily wait and get ample time to enjoy their newly married life without worrying about rising pregnancy expenses.
• It is also helpful to the newly wedded couples focusing on their careers and wants to give some quality time to nurture their marriage. They can get it and plan a baby once they make up their minds without getting into financial burden due to skyrocketing delivery costs.
• Parents who want to give their child a sibling to bond with next year can get this policy. They will get enough time to prepare themselves for those sleepless nights again until the waiting period gets over. After that, they can plan to bring their second bundle of joy stress-free

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 9400+ 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 Pregnancy Health Insurance

As health insurance for pregnancy with no waiting period is not an option. It is wise to understand the different types of waiting periods in the policy. 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. It is a precautionary measure that ensures that buyers do not misuse the policy. Although illnesses are subject to waiting periods, any accident or mishap is almost always covered if the patient has been hospitalized for 24 hours.
• 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 almost immediately covered after the purchase. Reading the fine print and knowing the waiting periods for various illnesses is an essential to choosing the right policy.

Does Waiting Period Differ Basis on Insurance Policy?

While looking for maternity insurance, already pregnant Indian women in India may find it difficult to get coverage with no waiting period, as many companies do not offer this option. It is considered as a pre-existing condition and beyond coverage. So, it means maternity insurance plans do come with a waiting period. Thus, health insurance with maternity coverage having no waiting period is a myth. However, the duration of the waiting period differs basis on:

• The standard initial waiting period tends to be around 30 days, and for a pre-existing condition, the waiting period extends up to 48 months as per the plan.
• A group health plan is an insurance policy that has no waiting period. However, it has its limitations, so one should consider having a separate health cover.

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.