Skip to main content

Maternity Insurance - What you need to know

 

Buy Best Maternity Insurance Policies Online


Motherhood is a priceless gift for every woman. But, giving birth does not just involve costs but it is become costlier in today's world. Delivering a baby can cost you anywhere upwards of Rs 50,000. To avoid burning a hole in your pocket and having a worry-free delivery, opt for maternity insurance.


Why maternity insurance?

As you get busy planning to welcome the newborn, you must also consider the expenses related to delivery. If you have a maternity insurance policy, it is already taken care of. You are financially prepared for unforeseen expenses. Due to the increasing healthcare costs, having maternity insurance protects you against inflation.


What does it include

Maternity insurance covers costs incurred towards hospitalization for childbirth. These costs can be :

a. The cost of hospitalization related to maternity upto 30 days prior and 60 days after the delivery.

b. The cost of normal or caesarian delivery, including premature birth.

c.  The cost of mother care before and after delivery called as pre and post-natal care.

d.Cover for the newborn for a period of 90 days from birth.

e. Costs like ambulance charges, room charges, surgeon's fees, etc.


What are the exclusions?

Certain costs associated with childbirth are excluded from a maternity insurance policy. These are:

a. The cost of medicine and doctor visit for regular checkups.

b.  The cost incurred towards termination of pregnancy within 12 weeks.

c.   Exclusions may vary from insurer to insurer.


Waiting period

When you buy maternity insurance, remember to check the waiting period. It generally ranges from three to four years from the date of purchasing the policy. The benefits of maternity insurance apply only if you get pregnant after a specified waiting period. So, if you are planning to expand your family in a year, maternity insurance will be of no use. This is a major disadvantage. But, there are some insurance plans that have a waiting period as low as nine months.


How to opt for it?

Check with your insurer if you can include maternity cover in your health insurance policy. Nowadays, you can do so by paying an extra premium for your health insurance. If your employer has a group insurance plan, maternity insurance can be included in it. But if you are pregnant while applying, you cannot get maternity insurance as it is considered a pre-existing condition.


Disadvantages

Despite all the benefits, maternity insurance has some cons too. You pay a higher premium unlike other medical problems covered by health insurance. There is cap on the amount receivable under the policy. You may have to shell out the balance from your pocket.


Conclusion

Maternity insurance is a good tool to have a stress-free pregnancy and delivery. It rids you of your financial worries associated with childbirth. You must opt for maternity insurance early on, so to cover for the waiting period and avail of the full benefit.






------------------------------------------
Invest Rs 1,50,000 and Save Tax upto Rs 46,350 under Section 80C. Get Great Returns by Investing in Best Performing ELSS Funds

Top 4 Tax Saver Mutual Funds for 2017

Best 4 ELSS Mutual Funds to invest in India for 2017

1. DSP BlackRock Tax Saver Fund

2. Invesco India Tax Plan

3. Tata India Tax Savings Fund

4. BNP Paribas Long Term Equity Fund



Invest in Best Performing 2017 Tax Saver Mutual Funds Online

Invest Best Tax Saver Mutual Funds Online

Download Top Tax Saver Mutual Funds Application Forms


For further information contact Prajna Capital on 94 8300 8300

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

Leave your comment with mail ID and we will answer them

OR

You can write to us at

PrajnaCapital [at] Gmail [dot] Com

OR

Call us on 94 8300 8300

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

 

Popular posts from this blog

What is Electronic Clearing Service (ECS)?

  As the name suggests, it's an electronic process through which money can be transferred from one bank account to another. According to RBI, this mode is usually used for regular payments and receipts, like distribution of dividend, interest, salary, pension etc. This mode is also used for collection of bills for telephone, electricity, water, various types of taxes, payment of EMIs , investments in mutual funds , payment of insurance premium etc. There are two types of ECS , like most other banking transactions, ECS credit and ECS debit. An ECS credit is used by a bank account holder , usually a large company or an institution for services like payment of dividend, in terest, salary, pension etc. If your mutual fund pays you dividend to your bank account, of all probability it is being paid through ECS credit.ECS debit, on the other hand, is used when a company or an institution is getting money from a large number of people. For example if you are investing in a mutual fund sc...

WEALTH TAX

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 WEALTH TAX   WHAT CONSTITUTES WEALTH? For wealth tax purposes, "wealth" means property , urban land, car, jewellery , yacht, boat, aircraft and cash in hand in excess of Rs 50,000. CAUTION POINT | Do not think you will have an easy escape from wealth tax by transferring your `wealth' without consideration to your spouse or minor child. Such assets will also be considered as your wealth. HOW TO DETERMINE YOUR TAXABLE WEALTH Add the taxable value of the above assets (computed as per the detailed rules for valuation) owned by you as on March 31 (for FY 2014-15, it will be March 31, 2015). In case you sold your car during the year, it will not be taxable wealth. Deduct loans if any obtained by you to acquire any of the taxable assets from the value of gross tax out for at least 300 days in a...

Equity Savings Fund

Invest Equity Savings Fund Online   The best part about these funds is that they are subject to equity fund taxation and at the same time are structured like MIP like funds . This new category, equity savings funds , offer a little of everything. They allocate money to equities & equity related instruments, and fixed income. They aim to generate returns by diversification. Such funds invest in fixed income and arbitrage to protect the investors from short term volatility and equity for capital gains. The best part of these funds is that they are subject to equity fund taxation and at the same time are structured like MIP funds.   MIP funds however are subject to debt fund taxation. Investors Equity savings funds are suitable for the following: First time investors who seek partial exposure to equity with less volatility and greater stability Investors seeking moderate capital appreciation with relatively lower risk Those wh...

8% Government of India Bonds quick guide

For those seeking comfort in safety of returns, the Government of India issued 8% savings bond once again comes to the fore. First launched in 2003, these bonds are issued by the government with a maturity of 6 years. The bonds are available at all times with specified distributors through whom you can apply to invest in them. Here is a quick guide to what the bond offers and its features to ascertain to check for suitability. What are Government of India bonds Government of India bonds are like any other government bonds with specified rate of interest. The rate is fixed at 8% per annum paid half yearly, or you can opt for cumulative payment of interest at the end of the tenure. You can buy these bonds from State Bank of India and its associates, other nationalized banks and some private sector banks such as HDFC Bank Ltd and ICICI Bank Ltd, among others. The bonds can be bought from the offices of Stock Holding Corporation of India as well. They are available in physical form onl...

Tax on Kisan Vikas Patra Returns

  Taxation of Kisan Vikas Patra The interest earned on Kisan Vikas Patra (KVP) doesn't enjoy any tax exemption   The interest earned on Kisan Vikas Patra (KVP) doesn't enjoy any tax exemptions. The interest earned from it is taxed as per the Income Tax slab applicable to the investor on redemption. That means an investor in the highest tax slab will pay 30 per cent tax on the returns from KVP . Also, 10 per cent of the interest earned would be deducted as tax deducted at source (TDS). ----------------------------------------------- Invest Rs 1,50,000 and Save Tax under Section 80C. Get Great Returns by Investing in Best Performing ELSS Mutual Funds Top 10 Tax Saving Mutual Funds to invest in India for 2016 Best 10 ELSS Mutual Funds in india for 2016 1. BNP Paribas Long Term Equity Fund 2. Axis Tax Saver Fund 3. Franklin India TaxShield 4. ICICI Prudential Long Term Equity Fund 5. IDFC Tax Advantage (ELSS) Fund 6. Birla Sun Life Tax Relief 96 7. DSP BlackRock Tax Saver Fu...
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