What Is Maternity Insurance & Why You Should Consider Getting It

The lowdown on whether you should get maternity insurance if you are pregnant or planning to become pregnant. 

As an expectant mother, you may be considering whether maternity insurance is necessary. After all, there are already numerous costs involved in childbirth. However, maternity insurance could possibly help you to have a more pleasant pregnancy by protecting you against unforeseen circumstances. 

In this article, we’ll explain what maternity insurance covers, and why it might be worth getting. 

What is maternity insurance?  

Maternity insurance is also known as pregnancy insurance or prenatal insurance. It is a type of insurance that helps cover the costs of unexpected complications during pregnancy or delivery. 

You can buy it as an add-on to your existing health insurance policy or as a standalone policy. Some maternity insurance policies have a waiting period of 10 to 12 months, so it can be a good idea to buy the policy even before getting pregnant, if you’re planning to start a family soon. 

Maternity insurance can cover the following situations: 

• Prenatal care, and hospitalisation and delivery costs in the event of complications
• Early delivery by caesarean
• Premature baby, or if baby is diagnosed with congenital illnesses 
• Child’s developmental delay 
• Miscarriage or termination of pregnancy due to complications

Indemnity plans compensate you for a portion of your medical expenses up to a certain limit. Managed-care plans provide coverage for a set list of services at a predetermined price.

How to get maternity insurance in Singapore

There are many different ways to get maternity insurance in Singapore. You should compare the various policies available and see which one best suits your needs.

A popular maternity insurance policies is the Income Maternity 360.  This policy provides comprehensive coverage for prenatal care, delivery and newborn infant care should there be complications or a need for early delivery. It provides benefits for both the mothers and babies, and cover specific conditions that either might be diagnosed with.  

This policy is an excellent choice for expectant mothers in Singapore.

Benefits of maternity insurance

There are many benefits of having maternity insurance, such as those below: 

Covers premature births and caesareans 

• Premature birth

The average term pregnancy lasts 40 weeks. For some women, the delivery comes sooner than expected – even as early as 28 or 32 weeks into their term. 

These babies are considered ‘premature’.The first few days after birth can be difficult because there isn’t enough time spent in the womb, where important development occurs. 

There are many reasons why a mother might give birth prematurely. Some of these include: 

• Infections such as urinary tract and amniotic membrane infections, which can be caused by bacteria or virus 
• Poor nutrition before pregnancy (a lack of essential vitamins)  
• One study shows that women who smoke have double the odds of an early delivery when compared to non-smokers
• Increased blood pressure among older women who have diabetes

Premature birth is a gamble with the health of your baby. The neonatal Intensive Care Unit can be essential in ensuring that babies develop well and their early life is not compromised. Hence it’s important that your maternity insurance policy covers the possibility of premature births and the care needed. 

• C-sections

Caesareans (or C-sections) can arise from the following reasons: 

• Due to a high-risk cardiac arrest, the woman is unable to physically go through delivery
• Other issues which make it impossible to deliver her child naturally
• A baby's safety would be jeopardised by passing through the vaginal area (e.g., if the mother has a contagious condition)
• Complications during birth, such as problems with the umbilical cord

C-sections are costly. Fortunately, most maternity plans help to subsidise medically necessary caesareans.  

Access the best possible medical care

If you have a good insurance policy, you can choose the doctor or hospital you want without worrying about the cost. This is especially important in Singapore, where there are many excellent but pricey hospitals and clinics to choose from.

Coverage for your newborn at birth and after birth  

Maternity insurance can help cover newborn care costs, including conditions that are diagnosed soon after birth. 

Things to consider when choosing a maternity insurance policy

There are a few things to consider when choosing a maternity insurance policy: 

• The most important thing is to make sure that the policy covers complications at all stages of pregnancy and birth, including prenatal care, delivery, and newborn infant care. You should also compare the different policies available and see which one best suits your needs and budget.
• Whether you want insurance for your newborn baby, and till what age: Some policies provide insurance for your baby from birth until they turn one year old. Others offer insurance for a more extended period. Be sure to choose a policy that provides the coverage you need!

How much maternity insurance costs in Singapore

The cost of maternity insurance in Singapore varies depending on the policy you choose. However, you can expect to pay around S$300–S$400 per year for a basic policy.

If you want a more comprehensive policy, you can expect to pay around S$500–S$600 per year. Of course, the best way to find out how much maternity insurance costs is to compare the different policies available. 

Be sure to ask your insurance company for a list of all the services covered by the policy, as well as the cost of each service. This will help you make an informed decision about which policy is best for you.

How to claim your maternity insurance benefits in Singapore?

If you need to make a claim, contact your insurance company, and they will guide you through the process. Be sure to have all the necessary documents ready, such as your policy number, medical bills, and other relevant documentation. 

The claims process can vary depending on the insurance company, so be sure to ask about the specific requirements before you begin. 

Having insurance for pregnancy gives you peace of mind regarding any unforeseen medical complications. So be sure to seek out the plan that will protect against everything you’re concerned about.

Similar to the protection that maternity insurance provides during pregnancy, CareShield Life can assist you with the costs of long-term care due to a disability. Upgrade your CareShield Life coverage with these best supplement plans. 

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