From day one coverage to transferrable waiting period — here's how maternity health insurance is evolving

The newly-introduced maternity insurance plans are reshaping the way individuals approach family planning and financial security. Traditionally, maternity coverage came with substantial waiting periods, often spanning across two years.

However, with the advent of innovative insurance schemes, these barriers are rapidly diminishing.

The latest offerings in maternity insurance not only slash the waiting period to nine months but also introduce a revolutionary concept — the transferability of waiting periods to spouses.

This means that individuals who have fulfilled their waiting period can pass on this benefit to their partners, allowing for immediate coverage from day one of maternity insurance inclusion.

Siddharth Singhal, Business Head, Health Insurance at Policybazaar.com, pointed out that while conventional coverage was limited to childbirth expenses, the new-age plans provide comprehensive coverage encompassing prenatal and postnatal consultations, assisted reproductive treatments, infertility procedures, surrogacy arrangements, adoption expenses, and even vaccination costs for newborns.

One of the key features of these revamped plans is their adaptability to the evolving dynamics of modern relationships.

For first-time health insurance buyers, the reduced waiting period for maternity benefits offers a practical solution.

Moreover, individuals planning to marry soon can leverage these plans to streamline their future family planning endeavours.

Singhal also highlighted the long-term benefits of early investment in these insurance plans.

With a progressive increase in maternity coverage for every claim-free year, individuals stand to accumulate a substantial sum insured over time.