Maternity Insurance in Singapore | Buying Maternity Insurance Plans

Health Insurance | Insurance

Having your first child is like taking a bungee jump for new parents. You’re happy to start this new chapter in your life, but you’re also terrified that something will go wrong before they’re born! It’s evident that insurance firms understand the difficulties parents face, and if there’s a demand, you can be sure there are plans on the market to meet it. Prenatal insurance policies are designed exclusively for pregnant women and their pregnancy-related issues. In this blog, we tell you about maternity insurance in Singapore. 

You’ve probably heard of prenatal and maternity insurance plans, but are they actually effective in providing comprehensive coverage for you and your child? Let’s get into the specifics.

Maternity Insurance in Singapore 

What exactly is maternity or prenatal insurance?

A prenatal insurance plan is a type of term insurance that offers you financial protection if you experience difficulties throughout your pregnancy. You’re also covered if your child has a congenital condition.
Depending on the coverage you select, hospital care benefits may be included. For example, you may be eligible for a stipend throughout your hospital stay.

Maternity insurance policies, as a result, supplement standard medical insurance plans.

What does maternity insurance protect?

Complications of pregnancy
If a pregnancy issue develops, it will pay a lump sum of money and/or hospital benefits. Various pregnancy problems may be covered depending on the insurer. However, they normally include the following:

• Stillbirth
• Amniotic Fluid Embolism
• Pre-Eclampsia/ Eclampsia
• Fatty Liver of Pregnancy
• Abruptio Placentae
• Disseminated Intravascular Coagulation
• Placenta increta/Percreta
• Postpartum Haemorrhage requiring Hysterectomy

For Your New Born

If your infant is born with any of the usual 18 congenital conditions listed below, you may be eligible for medical reimbursement or lump sum payments.

• Anal Atresia
• Great Vessel Transposition
• Cleft Palate/Cleft Lip/Cleft Tongue
• Truncus Cataract Congenital Cerebral Arteriosclerosis
• Deafness from birth
• ASD (Atrioventricular Septal Defect)
• Clubfoot
• Diaphragmatic Hernia Congenital
• Ventricular Septal Defect (VSD)
• Hip dislocation at birth
• Hydrocephalus in Infancy
• Spina Bifida
• Prematurity Retinopathy
• Tetralogy Fallot Two limbs are missing.
• Down Syndrome

What isn’t covered by maternity insurance?

Recurring pregnancy expenses
If you become pregnant, you will not be compensated for your typical pregnancy expenses. This will only happen if you purchased an international health insurance plan before becoming pregnant. However, these are frequently accompanied by substantially higher premiums.

When should I buy a prenatal insurance policy?

To acquire a prenatal insurance policy, you must be:

Between the legal and potentially childbearing ages (18-45 years old)
For obvious reasons, an expectant mother of at least 16 weeks is required (depending on insurer)

Maternity Insurance in Singapore 

If you don’t have $300-$700 to spare and are already struggling to make ends meet, nothing is ever worth purchasing until you absolutely need it. In that scenario, you do not.

However, if you have a spare budget after deducting all other charges, purchasing this type of protection can be critical if something goes wrong. We’ll return to the insurance rule: you never know what will happen in the future.

If you can afford it, maternity insurance plans are still a terrific way to give yourself that extra security during the unpredictable pregnant period. It’s usually better to be protected so you don’t have to pay exorbitant medical bills if something goes wrong.

Home Loan | Education Loan | Personal Loan | Car Loan | Travel Insurance | Lifestyle | Real Estate | Career