Maternity Insurance - Do I Need It?

Being new parents, the entire journey of moving into the next stage of life known as ‘parenthood’ can be filled with questions, fears and doubts. You find yourself wondering about the what-ifs, questioning what you should do should something happen to yourself or your (now still unborn) baby and suddenly having fears about all the money needed for medical emergencies.

You must have now heard about maternity insurance plans but what exactly are they good for during rainy weather? We’ll let you in on the details in this quick read!

What is a Maternity Insurance?

As a term insurance, maternity plans provides pregnant mom with a financial cushion in the event they suffer any complications during their pregnancy. You will also be covered if your baby suffers from a congenital disorder. Depending on your chosen policy, hospital care benefits and hospital stays may also be included.

And that is how maternity insurances complement regular medical insurance plans.

What are the coverages under Maternity Insurance?

*differs for every insurer

For mothers, a lump sum payout and/or hospital benefits will be given if a pregnancy complication occurs. Depending on the insurer, different pregnancy complications may be covered but they typically include these:

  1. Stillbirth

  2. Pre-Eclampsia/Eclampsia

  3. Abruptio Placentae

  4. Placenta Increta/Percreta

  5. Amniotic Fluid Embolism

  6. Fatty Liver During Pregnancy

  7. Disseminated Intravascular Coagulation

  8. Postpartum Haemorrhage which requires Hysterectomy

As for newborns, medical reimbursement or lump sums will be paid if your baby is born with any of the following standard 18 congenital illnesses:

  1. Anal Atresia

  2. Congenital Cataract

  3. Congenital Deafness

  4. Congenital Diaphragmatic Hernia

  5. Infantile Hydrocephalus

  6. Tetralogy Fallot

  7. Transposition of Great Vessel

  8. Truncus Arterioses

  9. Atrial Septal Defect

  10. Ventricular Septal Defect

  11. Spina Bifida

  12. Absence of two limbs

  13. Cleft Palate/Cleft Lip

  14. Cerebral Palsy

  15. Clubfoot

  16. Congenital dislocation of the hip

  17. Retinopathy of Prematurity

  18. Down’s Syndrome

When should I purchase Maternity Insurance?

To purchase a prenatal insurance plan, you’ll need to be:

1. Between the legal and possible ages of childbearing (18-45 years old)

2. An expectant mother of a minimum of 16 weeks

Maternity insurance plans are still a great idea to give yourself additional security during the unpredictable pregnancy period if you can afford them. Like what people always say, it’s better to be covered now and not worry about high medical costs later in the future.

For an easier and more comprehensive view of the maternity plan benefits offered by 7 insurance companies in Singapore, be sure to download it for free here!


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