{"id":1320,"date":"2023-05-29T16:10:01","date_gmt":"2023-05-29T08:10:01","guid":{"rendered":"https:\/\/sg-financialadvice.com\/UnderstandingCareshieldLife\/?p=1320"},"modified":"2023-05-29T17:19:15","modified_gmt":"2023-05-29T09:19:15","slug":"choosing-the-best-maternity-insurance-plan","status":"publish","type":"post","link":"https:\/\/sg-financialadvice.com\/UnderstandingCareshieldLife\/choosing-the-best-maternity-insurance-plan\/","title":{"rendered":"Choosing The Best Maternity Insurance Plan"},"content":{"rendered":"\t\t
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There is a lot to plan for throughout pregnancy, from scheduling doctor’s visits to getting yourself and the baby ready for the arrival.<\/span><\/p>

One of the things you need to do is to make sure you have maternity insurance. This article will explain what it is, what kinds of coverages it usually includes, and what to watch out for.<\/span><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t

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What is Maternity Insurance?<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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Maternity insurance, often known as pregnancy insurance, is a policy that helps pay for medical care and other costs if a pregnant woman or her unborn child experiences problems during pregnancy, labor, or delivery. In a nutshell, maternity insurance gives you financial peace of mind by paying out a lump sum in the event of an unexpected emergency during the pregnancy process. This also comes with other advantages, which will be discussed later on.<\/span><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t

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What should be covered by maternity care insurance?<\/span><\/h3>

While there may be some variations among insurance providers, all good maternity policies should include certain basics.\u00a0<\/span><\/p>

How Does Pregnancy Insurance Work?<\/span><\/h3>

Maternity insurance is a type of single-premium insurance that protects both the mother and the unborn child in the event of unforeseen pregnancy difficulties. If an insured event occurs, the policy will normally make a lump sum payment to the policyholder. This helps families cope with the escalating medical bills that come with having to face complications with a baby.<\/span><\/p>

Women can begin choosing for maternity health insurance as early as 13 weeks of their pregnancies. If you know the benefits of maternity insurance, getting it as soon as possible will provide you the longest period of coverage for the lowest cost.<\/span><\/p>

When Should You Get Maternity Insurance?<\/span><\/h3>

It’s worth noting that maternity insurance is one of the few policies available that provides coverage for two people under a single plan. These two individuals involved are the mother and the child (or children, in the case of multiple pregnancies).<\/span><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t

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Coverage for Moms<\/span><\/h3>

A wide variety of pregnancy-related problems would be covered for mothers. Some of these problems that can be covered include: abruptio placentae (premature placenta rupture from the uterus), amniotic fluid embolism, fatty liver of pregnancy, postpartum hemorrhage necessitating hysterectomy, preeclampsia, eclampsia, and stillbirth.<\/span><\/p>

Most of these are medical terms, which means that unless you are a doctor, you probably won’t be familiarized with them. However, these are risks associated with pregnancy and would be covered by a maternity insurance plan. It’s important to read the fine print of any maternity insurance policy you’re considering before purchasing to learn about their specific coverage limits.<\/span><\/p>

As an example, if the mother experiences troubles throughout her pregnancy, she may be eligible for hospital care benefits, which would pay her a set amount per day of hospitalization, as well as death and total and permanent disability payments.<\/span><\/p>

Coverage for child<\/span><\/h3>

When an ailment is present at birth, it is said to be congenital. Some infants do experience them, and the causes remain unknown. Some examples are birth defects including cleft lip and palate, club foot, Down syndrome, and spina bifida. Research suggests that insurance companies in Singapore cover between 17 and 26 distinct forms of congenital disease. Again, it’s important to read the fine print of any maternity insurance policies you’re considering purchasing so you can be sure your child is covered for any necessary congenital disorders.<\/span><\/p>

When any of the aforementioned problems or illnesses are detected during pregnancy, either the mother or the kid will get a lump sum payment.<\/span><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t

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What are the stand alone maternity insurance plans available in Singapore?<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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There are currently a few insurance providers in Singapore that offer policies that specifically cover pregnancy and childbirth.<\/span><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t

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Maternity 360<\/h3>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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The Maternity 360 plan from NTUC Income protects expecting moms from 10 different medical issues and their children from 23 different congenital diseases. Both the mother and the newborn are eligible for hospital benefits.<\/span><\/p>

For instance, a pregnant woman aged 30 will pay a single premium of $390.55 for a sum assured of $5,000.<\/span><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t

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Great Eastern Maternity Insurance <\/h3>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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Prudential provides a 4-year term plan for pregnant women and their child for a single premium. There are four different coverage amounts (called “sum assured”) from which one can pick from. Such are coverage for hospitalization, mental health care, treatment for gestational diabetes mellitus, and including up to 25 different birth defects.<\/span><\/p>

In vitro fertilization and other forms of assisted reproduction are included as well.<\/span><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t

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PRUMum<\/h3>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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The GREAT Maternity Cover has two tiers of protection: basic and comprehensive. The sum assured for Essential is $5,000, while for Enhanced it’s $10,000.<\/span><\/p>

Complications during pregnancy will result in a single payout from the insurer. Congenital diseases are also covered once for payment. The policy would pay out the sum assured twice if there are difficulties during pregnancy and congenital illnesses.<\/span><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t

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Aia Mum2Baby<\/h3>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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AIA Mum2Baby includes investment linked plans. This also comes with\u00a0 total and permanent disability and death and benefits. You can expect to receive daily financial benefits for as long as the mother is admitted in the hospital\u00a0 due to difficulties during pregnancy. Alternatively, a lump sum payment may be made in the event of a serious hospitalization, such as an ICU stay.<\/span><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t

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Insurable Pregnancy Complications and\u00a0<\/span><\/span><\/h2>

Congenital Malformations<\/span><\/h3>

This is another important form of protection that would pay you a lump sum if your child were diagnosed with a serious illness. It’s important to investigate this point because the number of issues covered differs from product to product.\u00a0<\/span><\/p>

Medical Malpractice<\/span><\/h3>

Negligence during childbirth is now a covered peril. Medical malpractice occurs when a doctor or other medical professional fails to use their best judgment and causes a birthing mother or their baby to suffer harm. Furthermore, inadequate care causes maternal or infant damage, which might be fatal during this time.<\/span><\/p>

Medical malpractice during childbirth typically takes the form of one or more of the following: (1) failing to detect fetal distress or properly monitor the baby’s heartbeat; (2) failing to prevent or treat severe tearing or bleeding in the mother; (3) failing to perform a medically necessary C-section (cesarean section); (4) pulling or twisting too hard on the baby as they exit the birth canal; and (5) failing to perform a medically necessary cesarean section.<\/span><\/p>

These are all examples of medical malpractice that can have serious consequences for both the mother and the child. The medical benefit would kick in and a lump amount would be granted if it could be proven that medical negligence during childbirth caused the death of the mother or the child.<\/span><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t

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Get protected as soon as possible<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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Pregnancy is quite dangerous, especially in the first trimester. For this reason, you can start the application process as early as week 13 of your pregnancy, during your second trimester.<\/span><\/p>

Getting one ahead of time can help protect you from any unforeseen difficulties. The inability to obtain maternity coverage will be impacted by even a minor problem, such as gestational diabetes. Furthermore, you should apply for health insurance while you and your unborn child are both in good health.<\/span><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"

There is a lot to plan for throughout pregnancy, from scheduling doctor’s visits to getting yourself and the baby ready for the arrival. One of the things you need to do is to make sure you have maternity insurance. This article will explain what it is, what kinds of coverages it usually includes, and what […]<\/p>\n","protected":false},"author":1,"featured_media":1328,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"nf_dc_page":"","_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[27],"tags":[30],"class_list":["post-1320","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-insurance","tag-protection"],"aioseo_notices":[],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/sg-financialadvice.com\/UnderstandingCareshieldLife\/wp-content\/uploads\/2023\/05\/The-Importance-of-Planning-Ahead-for-a-Severe-Disability-and-How-It-Pays-1.png?fit=1507%2C969&ssl=1","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/sg-financialadvice.com\/UnderstandingCareshieldLife\/wp-json\/wp\/v2\/posts\/1320","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/sg-financialadvice.com\/UnderstandingCareshieldLife\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/sg-financialadvice.com\/UnderstandingCareshieldLife\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/sg-financialadvice.com\/UnderstandingCareshieldLife\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/sg-financialadvice.com\/UnderstandingCareshieldLife\/wp-json\/wp\/v2\/comments?post=1320"}],"version-history":[{"count":4,"href":"https:\/\/sg-financialadvice.com\/UnderstandingCareshieldLife\/wp-json\/wp\/v2\/posts\/1320\/revisions"}],"predecessor-version":[{"id":1333,"href":"https:\/\/sg-financialadvice.com\/UnderstandingCareshieldLife\/wp-json\/wp\/v2\/posts\/1320\/revisions\/1333"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/sg-financialadvice.com\/UnderstandingCareshieldLife\/wp-json\/wp\/v2\/media\/1328"}],"wp:attachment":[{"href":"https:\/\/sg-financialadvice.com\/UnderstandingCareshieldLife\/wp-json\/wp\/v2\/media?parent=1320"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/sg-financialadvice.com\/UnderstandingCareshieldLife\/wp-json\/wp\/v2\/categories?post=1320"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/sg-financialadvice.com\/UnderstandingCareshieldLife\/wp-json\/wp\/v2\/tags?post=1320"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}