Why should you consider maternity insurance before starting a family? Here are 5 key reasons

livemint.com:

The increasing expenses associated with childbirth in India are fueling a greater interest inhealth insurance policies that include maternity coverage. It is essential to explore the real-life challenges of starting a family, emphasising the necessity for thorough preparation. Maternity insurance emerges as a cornerstone in this readiness, offering essential support for the well-being and financial stability of both mothers-to-be and their babies.

Insurers are also adapting to the evolving needs of women, which encompass education, career progression, and delaying childbirth. This shift is leading to the introduction of multiple maternity plans with broader coverage. Many leading insurers have decreased the waiting period for maternity coverage from 2-3 years to 9-12 months, enabling quicker access to financial assistance during pregnancy.

Also Read: Not child's play: Why maternity insurance is booming and how to choose the right plan — all your queries answered

While insurers are providing several options, consumers should also understand the value of buying maternity cover before starting a family.

Reduce the financial burden of parenthood: The decision to start a family is undoubtedly one of life's most significant milestones, it is also accompanied by substantial financial considerations. From prenatal care to childbirth and post-delivery support, the costs can quickly accumulate. Without proper insurance coverage, these expenses can place a significant strain on a family's finances, potentially leading to long-term repercussions.

Reducing the waiting period burden: Maternity health insurance plans typically include a waiting period that policyholders must complete before they can utilise the full benefits of the