Skip to main content

Standalone health insurers make it easy for would-be mothers

WHAT could be the best gift for a newly married woman on the 100th anniversary of international women's day? How about a health insurance plan that covers pregnancy! Given the sharp rise in the cost of maternity care, any woman would be thrilled with a gift that can ensure her good care at the most precious moment of her life. The problem is, the choices for you are few and far between.

While India's health insurance market has expanded pretty fast over the past few years, offering people an effective tool to reduce the financial burden in healthcare, pregnancy related expenses have remained excluded from insurance coverage of most health plans.

General insurance companies say pregnancy is not an illness and, hence, it should not qualify for insurance cover.

The entry of standalone health insurers has changed the scenario a bit. All three standalone health insurance companies -Star Health and Allied Insurance, Apollo Munich Health Insurance and Max Bupa Health Insurance -have come out with plans that cover hospitalisation expenses related to pregnancy.

Star Health started operations in May, 2006 as India's first standalone health insurer. Apollo Munich entered the market as Apollo DKV in December 2007, while Max Bupa came into being in April 2010.

Among them, Max Bupa offers a wide range of sum assured options to choose from. It does not differentiate between expenses incurred in a normal delivery and a caesarean delivery.

Among general insurance companies, ICICI Lombard covers maternity expenses, but it's limited to OPD charges only. Maternity benefits are also available with most group health insurance policies.

With medical costs galloping ahead of inflation, having sufficient health in surance is a must for everyone. We strongly suggest family floater plans for maternity as well as other benefits.

While buying a health insurance plan, it is important to check out the number of years one would need to wait before you become eligible to claim maternity benefits. Max Bupa's health plans require a subscriber to wait for two years, whereas it is three years in case of Star Health Wedding Gift Plan and four years in case of Apollo Mu nich Easy Health Family Floater. All these plans cover pregnancy. "Maternity is one of the most important milestones in every family's life. For couples planning to start families, there is an immediacy to the decision, especially in India.


Four years is too long to wait when you have decided to start a family. Therefore, we offer a comprehensive family cover where maternity is covered with a waiting peri od of only two years.

As a part of the plan, Max Bupa also provides cover for the newborn immediately after birth, which gets activated automatically. This is a first in Indian health insurance market. The health cover continues for the first year of the child and even provides for vaccinations.

Star Health too extends a similar cover for the baby at no additional cost. Apollo Munich charges a nominal amount to include the new member. This is important considering that the child may require medical attention right after birth. The automatic activation of the health cover may come handy in such a situation.

Our maternity cover offers total solutions and the newborn is covered right from birth, even for any congenital abnormality.

Criteria for claiming maternity expenses are the same as any other health plan. Hospitals that are empanelled with the insurance company provide cashless claims while in case of a non-empanelled hospital, you will need to claim reimbursement with necessary papers.

Popular posts from this blog

Am you Required to E-file Tax Return?

Download Tax Saving Mutual Fund Application Forms Invest In Tax Saving Mutual Funds Online Buy Gold Mutual Funds Leave a missed Call on 94 8300 8300   Am I Required to 'E-file' My Return? Yes, under the law you are required to e-file your return if your income for the year is Rs. 500,000 or more. Even if you are not required to e-file your return, it is advisable to do so for the following benefits: i) E-filing is environment friendly. ii) E-filing ensures certain validations before the return is filed. Therefore, e-returns are more accurate than the paper returns. iii) E-returns are processed faster than the paper returns. iv) E-filing can be done from the comfort of home/office and you do not have to stand in queue to e-file. v) E-returns can be accessed anytime from the tax department's e-filing portal. For further information contact Prajna Capit...

National Savings Certificate

National Savings Certificate Here's everything you need to know about the 5-year savings scheme offered by the Government This is a 5-year small savings scheme of the government. From 1 July 2016, a National Savings Certificate (NSC) can be held in the electronic mode too. Physical pre-printed NSC certificates have been discontinued and replaced with Public Provident Fund-like passbooks. What's on offer The minimum amount you can invest in them is Rs100 and there is no upper limit. Under this scheme, all deposits up to Rs1.5 lakh qualify for deduction under section 80C of the Income-tax Act, 1961. The interest earned is taxable. You can invest in multiples of Rs 100. These certificates can be owned individually, jointly and also on behalf of minors. The interest rates for all small savings schemes are released on a quarterly basis. The effective rate for NSC from 1 October to 31 December is 8%. The interest is calculated on an annual compounding basis and is given along w...

Mutual Fund Review: HDFC Index Sensex Plus

  In terms of size, HDFC Index Sensex Plus may be one of the smallest offerings from the HDFC stable. But that has not dampened its show, which has beaten the Sensex by a mile in overall returns   HDFC Index Sensex Plus is a passively managed diversified equity scheme with Sensex as its benchmark index. The fund also invests a small proportion of its equity portfolio in non-Sensex scrips. The scheme cannot boast of an impressive size and is one of the smallest in the HDFC basket with assets under management (AUM) of less than 60 crore. PERFORMANCE: Being passively managed and portfolio aligned to that of the benchmark, the performance of the index fund is expected to follow that of the benchmark and in this respect, it has not disappointed investors. Since its launch in July 2002, the fund has outperformed Sensex in overall returns by good margins.    While every 1,000 invested in HDFC Index Sensex Plus in July 2002 is worth 6,130 now, a similar amount invested in Sensex then wo...

Different types of Mutual Funds

You may not be comfortable investing in the stock market. It might not seem like your cup of tea. But you can start by investing in Mutual Funds. Many first-time investors invest in Mutual Funds. This is because they do not know how to invest in individual securities. Basic information on Mutual Funds People invest their money in stocks, bonds, and other securities through Mutual Funds. Each Fund has different schemes with specific objectives. Professional Fund Managers look after these schemes. Your Fund Manager could help you invest in a scheme that suits your financial goal. Functioning of Mutual Funds You could make money through Mutual Funds in different ways. A single Mutual Fund could hold many different stocks, bonds, and debentures. This minimizes the risk by spreading out your investment. You could earn dividends from stocks and interest from bonds. You could also earn capital by selling securities when their price increases. Usually, you could choose to sell your share any t...

IDFC - Long term infrastructure bonds - Tranche 2

IDFC - Long term infrastructure bonds What are infrastructure bonds? In 2010, the government introduced a new section 80CCF under the Income Tax Act, 1961 (" Income Tax Act ") to provide for income tax deductions for subscription to long-term infrastructure bonds and pursuant to that the Central Board of Direct Taxes passed Notification No. 48/2010/F.No.149/84/2010-SO(TPL) dated July 9, 2010. These long term infrastructure bonds offer an additional window of tax deduction of investments up to Rs. 20,000 for the financial year 2010-11. This deduction is over and above the Rs 1 lakh deduction available under sections 80C, 80CCC and 80CCD read with section 80CCE of the Income Tax Act. Infrastructure bonds help in intermediating the retail investor's savings into infrastructure sector directly. Long term infrastructure Bonds by IDFC IDFC issued an earlier tranche of these long term infrastructure bonds on November 12, 2010. This is the second public issue of long-te...
Related Posts Plugin for WordPress, Blogger...
Invest in Tax Saving Mutual Funds Download Any Applications
Transact Mutual Funds Online Invest Online
Buy Gold Mutual Funds Invest Now