Mutual Fund Application Forms Download Any Applications
Invest in Tax Saving Mutual Funds Invest Online
Infrastructure Bond Application Forms Download Applications

Monday, May 19, 2014

Maternity Insurance Cover

Download Tax Saving Mutual Fund Application Forms

Invest In Tax Saving Mutual Funds Online

Buy Gold Mutual Funds

Leave a missed Call on

94 8300 8300

 

Many insurance companies are offering maternity covers as part of their regular health policies these days. Earlier, maternity benefits were extended only as a part of employers' corporate health insurance policies. However, companies like ICICI Lombard, Max Bupa and Apollo Munich have started offering this cover, with sub-limits ranging from ` . 15,000-50,000. However, these products are costly and have a long waiting period of up to six years. Does it make sense to buy them?

 

Individuals can buy maternity cover if their employer's insurance doesn't cover it.
Even self-employed should consider buying it. However, they should evaluate whether the cost and waiting period after which such a cover is available, are reasonable.


What Does it Cover?


Maternity cover takes care of expenses related to delivery (normal and caesarean section) or the lawful medical termination of pregnancy during the policy period. However, there could be conditions limiting the number of deliveries or terminations, either during the lifetime of the insured person or the policy period.


Pre-and post-natal expenses per delivery or termination are also covered. Depending on the insurer and the product variant, WHO-approved vaccinations and medical treatment for the new born till 90 days or the next renewal will also be paid for. If your policy entitles you to daily cash hand-outs, you can use it to take care of your sundry expenses too.  If the insured person chooses the room type wisely, an additional sum as daily hospital cash can be used for other related expenses like medicines.

 

A rise in maternity claims points to the relevance of the policy . We have noted an almost 50% increase in claims related to maternity in the last year. Coverage for maternity related expenses is gaining importance with increase in medical costs as well as maternal age and greater incidence of lifestyle diseases that may lead to complications at the time of pregnancy

 

The policy is worth its premium because "it not just takes care of the hospitalisation costs, but also the insured's pre and postnatal expenses. The company's claim figures indicate a sharp increase in maternity claims in 2013. While delivery-related claims went up by 36.52% from 2012, claims paid out for treatment of complications in new born babies shot up by nearly 46%.


Read the Fine Print "Generally, maternity covers are restricted to maximum 10% of the overall sum insured and the cover is available only in the third year of continuous coverage. Waiting periods extend to over two years. The insured should evaluate whether the premium is worth the benefit of taking this cover

For further information contact Prajna Capital on 94 8300 8300 by leaving a missed call

Leave a missed Call on 94 8300 8300

Leave your comment with mail ID and we will answer them

OR

You can write back to us at

PrajnaCapital [at] Gmail [dot] Com

---------------------------------------------

Invest Mutual Funds Online

Invest Any Mutual Fund Online

Download Mutual Fund Application Forms from all AMCs

Download Mutual Any Fund Application Forms

---------------------------------------------

Best Performing Mutual Funds

    1. Largecap Funds Invest Online
      1. DSP BlackRock Top 100 Fund
      2. ICICI Prudential Focused Blue Chip Fund
      3. Franklin India Bluechip
      4. ICICI Prudential Top 100 Fund

B. Large and Midcap Funds Invest Online

      1. ICICI Prudential Dynamic Plan
      2. HDFC Top 200 Fund
      3. UTI Dividend Yield Fund
      4. Birla Sun Life Front Line Equity Fund
      5. Franklin India Prima

C. Mid and SmallCap Funds Invest Online

      1. Reliance Equity Opportunities Fund
      2. DSP BlackRock Small & Midcap Fund
      3. Sundaram Select Midcap
      4. IDFC Premier Equity Fund
      5. Birla Sun Life Dividend Yield Plus
      6. SBI Emerging Businesses Fund
      7. HDFC Mid-Cap Opportunities Fund
      8. ICICI Prudential Discovery Fund

D. Small and MicroCap Funds Invest Online

      1. DSP BlackRock MicroCap Fund

2.Franklin India Smaller Companies

E. Sector Funds Invest Online

      1. Reliance Banking Fund
      2. Reliance Banking Fund
      3. ICICI Prudential Banking and Financial Services Fund

F. Tax Saver Mutual Funds Invest Online

1. ICICI Prudential Tax Plan

2. HDFC Taxsaver

      1. DSP BlackRock Tax Saver Fund
      2. Reliance Tax Saver (ELSS) Fund

G. Gold Mutual Funds Invest Online

      1. Relaince Gold Savings Fund
      2. ICICI Prudential Regular Gold Savings Fund
      3. HDFC Gold Fund
      4. Birla Sun Life Gold

H. International funds Invest Online

1. Birla Sun Life International Equity Plan A

2. DSP BlackRock US Flexible Equity

3. FT India Feeder Franklin US Opportunities

4. ICICI Prudential US Bluechip Equity

5. Motilal Oswal MOSt Shares NASDAQ-100 ETF

No comments:

Post a Comment

Mutual Fund Application Forms Download Any Applications
Invest in Tax Saving Mutual Funds Invest Online
Infrastructure Bond Application Forms Download Applications

Popular Posts