Top 5 Maternity Health Insurance Plans in India in 2024
Maternity Coverage in Health insurance, is it right to take policy or not….It seems like a straightforward question, but technically it is very complex, to take it or not.
There are many plans of Maternity coverage available in India, but should everyone take it, if it should be taken, who should take it and who should not, here we discuss the principle of some basic health insurance.
It does not work on the principle of Maternity Health Insurance, suppose 1000 couples get married and how many of them have a child, but it is sure that 990 will be there, then the insurance company will have to give a claim to 990 policyholders and only 10 policyholders will be born. Its revenue is money, which does not follow the principle of insurance. Then in such a situation, the health insurance company provides Maternity Plans like a Rider in which Waiting Periods, Limits, and Sublimits are imposed.
If you calculate the premium then you will get to know how much the claim liability is in case of maternity, which is more money than what the insurance company is already paying. There are many terms & conditions for the claim.
We can take the example of a young newly married couple for premium calculation and fact-checking, taking an average age of 27 years.
Now, let us understand the top 5 maternity plans, and then we will know who should take maternity plans and who should not:-
- Activ FIT Preferred Plan from Aditya Birla Health Insurance
- Joy Today & Tommorw from Care Health Insurance
- Health Aspire from Niva Bupa
- Health Super Saver from Future Generally General Insurance
- Comprehensive Plan from Star Health
Activ FIT Preferred Plan from Aditya Birla Health Insurance– This is an indemnity health insurance of Aditya Birla Health in which maternity cover is also given along with indemnity health insurance, in the preferred variant of this plan, which cover is also available based on the family floater. Now let us take the example of a 27-year-old newly married couple with a maternity rider with a base cover of Rs 10 lakh, with a waiting period of 36 months, in Normal Delivery of baby Maternity Limit is Rs. 40000 and for C-Section Rs. 60000, please refer below chart for money fact check.
| Members Age | 1st-year Premium | 2nd Year Premium | 3rd years Premium | 4th years premium | Total Premium to Cover maternity | Normal Delivery Benefit | Total Premium to C Section Delivery |
| Male 27 years & Female 25 Years | 17201 | 17494 | 17785 | 18076 | 70556 | 40000 | 60000 |
Joy Today & Tomorrow from Care Health Insurance – Now we talk about Care’s Maternity Health insurance, Joy Today and Joy Tomorrow, which have a waiting period of 9 months and 24 months respectively and, taking the example of base health insurance Rs 5 lakh, which covers maternity benefits up to Rs 50000.
| Members Age | 3 years premium together | Delivery Benefit |
| Male 27 years & Female 25 Years | 82452 | 50000 |
Health Aspire from Niva Bupa– Niva Bupa’s Aspire, also offers in-build maternity cover along with an indemnity comprehensive cover, Which includes NORMAL/C-SECTION, IVF, SURROGACY, ADOPTION, PRENATAL CHECKUPS & VACCINATION along with the 20 Lakh comprehensive health insurance coverage. If you have paid a 3-year premium exclusively, you can utilize your 3-year Maternity Limit after a 9-month waiting period.
| Members Age | 3 years premium together | Delivery Benefit, each year 20K Limits |
| Male 27 years & Female 25 Years | 77000 | 60000 |
Health Super Saver from Future Generally General Insurance– This plan of Future Generally provides comprehensive health insurance along with maternity benefits, up to a comprehensive sum insured of Rs. 10 lakhs, after 9 months of waiting, a coverage of Rs. 10000 for normal delivery and Rs. 200000 for C-Section delivery.
| Members Age | 3 years premium together | Delivery Benefit |
| Male 27 years & Female 25 Years | Rs. 54000 | Normal – Rs.100000 and C-Section Rs.200000 |
Comprehensive Plan from Star Health– his indemnity health insurance plan from Star Health also offers maternity cover, as per this chart along with an illustration. There are 24-month waiting period to avail maternity benefits.
| Base Sum Insured | Normal Delivery | C Section | New Born Baby Cover |
| 5 Lakh | Rs.15000 | Rs.20000 | Rs.100000 |
| 7.5 Lakh | Rs.25000 | Rs.40000 | Rs.100000 |
| 10 Lakh to 25 lakh | Rs.30000 | Rs.50000 | Rs.100000 |
| 50 Lakh to 1 Cr | Rs.50000 | Rs.100000 | Rs.200000 |
| Members Age | 10 Lakh Base Cover | Total Premium after waiting period Over | Normal Deilivery | Normal Delivery |
| Male 27 & Female 25 Years | Rs.18361 | Rs.55082 | Rs.30000 | Rs.50000 |
These are the top 5 health insurance plans that, along with affordable coverage, also offer maternity benefits with some waiting periods and limits.
But here are 5 cons with maternity policies…which you should always keep in mind before you buy such plans:-
- The insurance company keeps a higher premium for the maternity benefits it provides because it does not work on the health insurance pool principles
- There are limits and sub-limits in maternity benefits.
- Maternity policies provide benefits only for the first and second children.
- The insurance company charges an extra premium in place of maternity benefits and this “extra premium” is applicable forever, as long as you continue with the policy.
- If any insured person port their plan in this plans, time-bound waiver will not be available, insured person will have to wait for maternity coverage as fresh policy
All the information in this article is taken from various sources, Illustrations shown in this article, are subject to vary due to the enhancement of premiums, plan conditions etc.
