Technically, maternity insurance only covers pregnant women who have not yet given birth. So if you are already pregnant, you would not be eligible to purchase maternity insurance.
In Singapore, it is not possible to buy insurance once you are already pregnant. This is because insurance companies consider pregnancy to be a pre-existing medical condition. As a result, they are not required to provide coverage for maternity care. However, there are some alternatives that expectant mothers can explore. For example, Medisave can be used to help cover the cost of delivery. In addition, most employers in Singapore provide some form of maternity leave, which can help offset the financial burden of taking time off work during pregnancy.
Ultimately, every expectant mother’s situation is different, and it is important to explore all of the options available in order to find the best solution for your individual needs.
Maternity Insurance for pregnant women: Should you consider buying it?
There’s no one-size-fits-all answer to this question, as the necessity and value of this insurance vary from person to person.
While many health insurance plans offer some coverage for pregnancy and childbirth, the costs associated with these services can still be high. Maternity insurance can help offset some of these costs, making it easier to afford the care you need during and after your pregnancy. Additionally, some such insurance plans offer additional benefits like fertility treatments and well-woman care, which may not be covered by your regular health insurance plan.
Different types of maternity insurance
There are a few different such insurance plans available in Singapore, but some of the top ones include the GREAT Maternity Care, the NTUC Income Maternity Plan, and the AXA Mandatorily Convertible Insurance.
For example, the Prudential Maternity Plan offers coverage for both inpatient and outpatient care, while the NTUC Income Maternity Plan offers a higher coverage limit for hospital. Meanwhile, the AXA Mandatorily Convertible Insurance plan gives you the option to convert your policy into a permanent life insurance policy once your child is born.
How to know whether you need maternity insurance or not?
With the baby insurance, when you purchase maternity protection there are interesting points before really making a buy. Here we have discussed every such thing.
Can you bear the cost of medical bills?
It’s important to consider whether you can afford potential medical bills before buying maternity insurance. Maternity insurance is designed to help you pay for medical costs associated with childbirth, but it doesn’t cover all costs. So, it’s important to make sure you have enough savings to cover the costs that your insurance policy doesn’t cover.
In addition, it’s important to remember that not all pregnancies are complication-free. So, even if you have maternity insurance, there’s a chance that you could still end up owing a lot of money for medical expenses related to childbirth. So, it’s important to factor in the potential cost of pregnancy-related medical bills when deciding whether or not to buy maternity insurance.
Can you bear the number of premiums?
There are a few important reasons to consider whether you can afford a premium for maternity insurance before you buy it. One reason is that such insurance policies often have high premiums, and many people cannot afford to pay for them. In addition, most maternity policies do not cover the full cost of pregnancy and childbirth. This means that if you have a policy and need to use it, you may end up paying a lot of money out-of-pocket.
Another reason to consider whether you can afford a policy’s premium is that some policies only cover pregnancies that occur within a certain time frame or during specific years.
What are you normally stressed over?
Since the primary concern of insurance is to get yourself extra inner harmony, conclude what you are generally stressed over and gauge the possible expenses of treatment for the condition or occasion against the expense of the maternity plan charge to check whether everything will work out for the best to take up.
Certain plans have extraordinary features that might take care of your particular requirements. A few plans likewise give a payout to short term phototherapy treatment for serious neonatal jaundice, or for mental well-being care for the mum.
Other unique features incorporate inclusion for formative delays of the child or passing of the mother or child because of clinical carelessness. One more highlight note is that maternity plans are either independent plans or packaged with other insurance items, for example, life insurance.
Aviva, Great Eastern and Manulife offer the choice to buy specific designs for the child in something like 90 days of birth without the requirement for a clinical claim.