Definition
Maternity Cover in Health Insurance
Maternity cover is a health-insurance benefit for pregnancy and childbirth expenses, usually subject to a longer waiting period.
Maternity cover reimburses expenses related to pregnancy, delivery (normal and caesarean) and often newborn care, and is offered either as a built-in feature of certain health policies or as an add-on/rider. It typically carries a longer waiting period than ordinary illnesses, so it must be planned well in advance.
Policies often cap the maternity benefit at a sub-limit and may restrict the number of deliveries covered. Many corporate group health plans include maternity benefits with little or no waiting period, which is a valuable perk.
Because of the substantial waiting period, couples planning a family should arrange maternity cover early. Compare the sub-limits, waiting period and newborn-cover terms carefully when choosing a plan.
Related terms
- Waiting PeriodA waiting period is the time after a health policy starts during which claims for specified conditions or treatments are not payable.
- Family Floater Health PolicyA family floater is a single health policy that covers the whole family under one shared sum insured.
- Health InsuranceHealth insurance covers medical and hospitalisation expenses in exchange for an annual premium.
Plain-English explainer from The Dispatch Investors Encyclopedia. General information, not financial advice.