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Employer health cover not enough for maternity needs, says expert
Young couples planning a family should not rely solely on employer group health cover for maternity expenses, according to Sarbvir Singh, joint group chief executive of PB Fintech. Group policies are tied…
Young couples planning a family should not rely solely on employer group health cover for maternity expenses, according to Sarbvir Singh, joint group chief executive of PB Fintech. Group policies are tied to employment and benefits can change if an individual switches jobs, making a separate individual health plan essential for continuity.
Singh told Mint that maternity insurance has become more practical in recent years. Plans now offer maternity cover with waiting periods as short as three months, down from the traditional two to four years. Maternity benefits typically range from Rs 50,000 to Rs 2 lakh depending on the plan, and cover normal and C-section deliveries, pre- and post-natal care, and newborn cover from day one.
Singh advised couples to look beyond waiting periods and check the maternity benefit limit. He recommended a comprehensive family floater of at least Rs 50 lakh cover, supplemented by a super top-up, to protect against both childbirth and future healthcare costs.
Indian Opinion Analysis
The shift to shorter waiting periods of three months reflects a broader trend in India's health insurance market, where insurers have been introducing more flexible products after the Insurance Regulatory and Development Authority of India (IRDAI) nudged them toward customer-friendly features. For a couple in their early 30s, the immediate gap is the employer cover's job-lock: switching companies can reset maternity benefits or eliminate them entirely. A personal policy locks in coverage regardless of employment changes. The real next step for the reader is to compare the waiting periods and sub-limits across insurers, since even a three-month wait still requires planning before conception. The IRDAI's 2024 master circular on health insurance standardises some features, but payout caps remain at the insurer's discretion.
For the 31-year-old, the practical target is to buy a policy at least three months before trying to conceive, check the sub-limit for delivery (usually Rs 50,000 to Rs 2 lakh per pregnancy), and ensure the newborn is covered from day one for vaccinations and congenital conditions.
Source: livemint.com
This brief was synthesised by AI from the source linked above.
