Skip to main content

Maternity Insurance

Buy Gold Mutual Funds

Invest Mutual Funds Online

Download Mutual Fund Application Forms

Call 0 94 8300 8300 (India)

With the average maternity age on the rise, most consumers are opting for individual covers. General insurers say there has been a sharp rise in demand for such covers in the last six-nine months.

 

More people are buying individual covers because the average maternity age has increased to 32-33 from 27-28 years. As a result, pregnancy related complications have increased.

 

However, individual policies may not be the only solution for people seeking this cover. Group health policies being offered by companies also cover maternity-related issues. And, there are several advantages.

 

For one, the waiting period is much lower, at 9-12 months. For other insurance plans, the waiting period is much higher. Apollo Munich's policies require a waiting period of six years, Max Bupa has a waiting for two years and for Oriental Insurance's policy it is 12 months. Besides, there is a mandatory waiting period of 30 days applicable to all policies.

 

Then, follow prices or premiums. Most players bundle maternity cover with a health plan for individual policies. These include Apollo Munich, Max Bupa and Oriental Health Insurance. Only Star Health provides maternity cover on a standalone basis.

 

Most maternity covers, which come as part-bundled policies, provide limited cover of ~1 lakh or less. Max Bupa's Heartbeat Gold Policy provides a sum assured of ~10 lakh, but the maternity cover is only ~50,000. The premium of the policy is ~19,042. A Star Health standalone policy would cost you an annual premium of ~18,550 for ~3 lakh cover and ~19,335 for ~5 lakh. On the other hand, under employee group policies, one will be able to get refunds for most expenses by paying a small premium.

 

In the case of individual policies, there are other surprises as well. Though claims cannot be denied if once the cover has been bought, there might be situations in case of late pregnancy (35 years and above) where the insurer refuses to pay.

 

Max Bupa Health Insurance cover complications arising out of (delayed) pregnancy, provided it warrants 24 hours of hospitalisation. But if such complication requires the patient to deliver a child, normally or through Cesarean then, such hospitalisation is not covered. Maternity benefits might also be declined in situations like stress due to hyperemesis gravidarum (excessive vomiting) in the first trimester, which is more likely for an elderly pregnancy. Pregnancy-induced hypertension or those who already have hypertension or diabetes may also be denied maternity benefits.

 

In the later case, increasing age may aggravate hypertension or problems related to diabetes during pregnancy. There are several other situations like this where an individual policy may fail to deliver.

However, many cover miscarriages, but only if it happens in the first trimester.

 

Given the costs and complications that women with late pregnancy are likely to face, it makes sense to be covered under the group health plans for maternity-related benefits. However, if you are not working in a company, set aside a corpus that you can dip into for expenses. 

Happy Investing!!

 

We can help. Call 0 94 8300 8300 (India)

 

Leave your comment with mail ID and we will answer them

                        OR

You can write back to us at prajnacapital [at] gmail [dot] com

---------------------------------------------

Invest Mutual Funds Online

Transact Mutual Fund Online

Download Mutual Fund Application Forms from all AMCs

Download Mutual Fund Application Forms

Best Performing Mutual Funds

    1. Largecap Funds        Invest Online
      1. DSP BlackRock Top 100 Fund
      2. ICICI Prudential Focused Blue Chip Fund
      3. Birla Sun Life Front Line Equity Fund
    2. Large and Midcap Funds     Invest Online
      1. ICICI Prudential Dynamic Plan
      2. HDFC Top 200 Fund
      3. UTI Dividend Yield Fund
    1. Mid and SmallCap Funds    Invest Online
      1. Reliance Equity Opportunities Fund
      2. DSP BlackRock Small & Midcap Fund
      3. Sundaram Select Midcap
      4. IDFC Premier Equity Fund
    1. Small and MicroCap Funds             Invest Online
      1. DSP BlackRock MicroCap Fund
    1. Sector Funds              Invest Online
      1. Reliance Banking Fund
      2. Reliance Banking Fund
    1. Gold Mutual Funds             Invest Online
      1. Relaince Gold Savings Fund
      2. ICICI Prudential Regular Gold Savings Fund
      3. HDFC Gold Fund

Popular posts from this blog

Group Health Insurance

Buy Group Health Insurance Online   For Human Resources, the biggest challenge today is to decide whether medical benefits should be offered to employees or not, what type of plans should be offered, what will be the cost and how will the cost be split between employees and employer. Well, most of these are subjective and would depend on a lot of factors including company size, average employee salary, etc. However, this article will give you a fair idea on how you should go about deciding these factors: 1. Why offer group health insurance benefit to employees : Studies have proved that retention rates among employers offering GHI are much higher than the ones who are not offering. Moreover, the cost of providing this benefit as a percentage of salary is very low as compared to the perceived value. As an example, say if average salary of an employee in your organization is 4 LPA. If you decide to offer a health insurance benefit to him for a Sum insured of ...
Read more

ICICI Prudential Dynamic Plan Invest Online

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   ICICI Prudential Dynamic Plan             Invest Online This fund does remarkably well during falling markets, but fails to show the same prowess during a rising market. The fund sticks to its mandate to adapt to the dynamic nature of the market by shuttling between debt and equity. It takes aggressive asset calls in equity when the market surges by investing in quality mid-cap stocks. At the same time, it adopts a defensive strategy by investing in debt and cash when markets get overvalued, making it a good long-term choice.     For further information contact Prajna Capital on 94 8300 8300 by leaving a missed call     Leave a missed Call on 94 8300 8300   Leave your comment with mail ID and we will ...
Read more

Commercial Paper (CP)

Invest Mutual Funds Online Download Mutual Fund Application Forms Commercial Paper (CP): These are issued by corporate entities in denominations of Rs.2.5mn and usually have a maturity of 90 days. CPs can also be issued for maturity periods of 180 and one year but the most active market is for 90 day CPs.   Two key regulations govern the issuance of CPs-firstly, CPs have to be compulsorily rated by a recognized credit rating agency and only those companies can issue CPs which have a short term rating of at least P1. Secondly, funds raised through CPs do not represent fresh borrowings for the corporate issuer but merely substitute a part of the banking limits available to it. Hence, a company issues CPs almost always to save on interest costs ie it will issue CPs only when the environment is such that CP issuance will be at rates lower than the rate at which it borrows money from its banking consortium. ----------------------...
Read more

Lump Sum or SIP?

Invest Mutual Fund Online     You have a lump sum in hand and you wish to invest in equity funds. However, you have heard a lot of talk about investing in equity funds through Systematic Investment Plans (SIPs) because they help average costs, ensure you do not ill-time the market, and help you invest in small sums, besides giving you many other advantages. So, should you invest the money you have in hand in one go, or let it remain in your bank account and then do an SIP? There is no harm in investing a lump sum amount. For all you know, compounding, over the long term, could work better with lump sum. However, make sure you fulfill all of these three criteria if you want to invest in one go. Else, SIP is the way to go. #1: You invest for the long term According to past data, ideally, if you have a time frame of 12 years or more, you can consider lump sum investing (provided you satisfy the other two conditions that follow). So, what is the sanctity behind 12 years? Is it because only...
Read more

Why credit history is critical?

Will you need a loan to buy a car or a house? Do you know why some people get their loans sanctioned quickly without any hassle, whereas others find that their approval is delayed or their application is rejected? If you want a loan, you will need to work to build a solid credit history because this can have a bearing on the ease with which you get loans. Read on to learn more about what is a credit history and how to build a good credit score. What is a credit history? Your credit history is a way of tracking your credit behaviour and habits — basically it shows how disciplined and regular you are when it comes to repaying your dues on loans that you have taken. It will show a complete record of your past borrowing and repayment record including details about any late payments or if you have defaulted on a loan. This track record is readily accessible to lenders and is used by them to when reviewing your loan application. Borrowers who have historically had a bad record of managing...
Read more
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