As your pregnancy begins, purchasing maternity insurance is one of the important things to consider. It helps safeguard both the health and financial needs of the mother and child, particularly if complications arise. To assist you with the first steps into parenthood, here is a helpful guide that covers the following aspects of maternity insurance:
What maternity insurance is
The best time to purchase maternity insurance
Essential components that maternity insurance should cover
Recommendations for the best maternity insurance plans in Singapore.
What is maternity insurance?
It is recommended to purchase maternity insurance as early as possible, but the earliest you can purchase it is typically at the 13th week of your pregnancy. This is because the first trimester is considered the most critical period for the pregnancy, and after the 13th week, the risk of miscarriage decreases significantly. Additionally, purchasing maternity insurance early ensures that any potential complications that may arise during the course of the pregnancy are covered.
Insurers typically have an upper limit for the purchase of maternity insurance, usually around the 35th to 40th week of pregnancy. This is because the closer you are to delivery, the higher the likelihood of complications arising, and insurers may not want to take on that level of risk. Additionally, insurers usually have age restrictions for maternity insurance, with the mother typically required to be between the ages of 18 and 45.
The best time to purchase maternity insurance
It is recommended to purchase maternity insurance as early as possible, but the earliest you can purchase it is typically at the 13th week of your pregnancy. This is because the first trimester is considered the most critical period for the pregnancy, and after the 13th week, the risk of miscarriage decreases significantly. Additionally, purchasing maternity insurance early ensures that any potential complications that may arise during the course of the pregnancy are covered.
Moreover, It's recommended to purchase maternity insurance early because the premiums are the same regardless of whether you apply at the 13-week mark or towards the end of the pregnancy.
Essential components that maternity insurance should cover
When searching for a maternity insurance plan, it's important to note that the specific coverage provided will vary between insurers.
Coverage provided for the mother:
Hospitalisation benefit: a daily cash benefit for each day you are hospitalized due to pregnancy complications
Pregnancy complications: pregnancy-related complications, such as pre-eclampsia and eclampsia
Death or total & permanent disability benefit (TPD): a lump sum payout should death or permanent disability occurs
Some plans may also offer additional benefits for the soon-to-be mother, like mental wellness support and coverage for childbirth medical negligence.
Coverage provided for the baby:
Hospitalisation benefit: Daily cash benefit for each day that the baby is hospitalized because of congenital illnesses
Congenital illnesses (with the number of illnesses covered depending on the plan)
Outpatient phototherapy benefit as a result of severe neonatal jaundice:
Death benefit: Lump sum payout upon death
However, it's important to take note that some plans may not cover pregnancies resulting from In-Vitro Fertilisation (IVF) or other Assisted Conception Procedures.
Additionally, while most plans cover twins, some exclude coverage for mothers expecting more than two fetuses such as triplets or quadruplets, as these pregnancies are considered higher risk. Nonetheless, there are still plans available in the market that provide coverage for such pregnancies.
Your maternity insurance options
For the mother*
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For the child**
**for best viewing experience, click on picture with landscape orientation
Get financial coverage to ease your worries
Ultimately, pregnancy can definitely be a beautiful experience. Maximize your pregnancy journey by eliminating as many stresses as you can. Get Maternity Insurance.
If you are interested in finding out more about the maternity insurance options available for you, contact me at 97901583
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