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Question:
Hi, I am currently expecting and deliver in April 2011. I would like to ask whether it is late to buy maternity insurance.
Answer:
Pacific Prime is able to provide comprehensive international health insurance policies with maternity benefits. Maternity Health Insurance Plans which we can provide are typically guaranteed renewable, internationally portable, and will afford you comprehensive coverage for a routine delivery in addition to high levels of protection should there be a complication with the pregnancy.
When considering the purchase of an international maternity health insurance policy it is important to be aware that most insurance companies will place a waiting period on the maternity benefit. This essentially means that you will be unable to claim for any maternity treatment, including delivery, which has been received prior to the completion of the waiting period.
The length of the waiting period associated with a plan’s maternity benefit will vary between insurance companies. However, the typical length of the waiting period will usually be between 10 – 12 months from the start of the plan. This means that to receive coverage under your international health insurance plan’s maternity benefit you will typically need to have purchased the policy at least 10 months prior to giving birth to your child in order for the delivery to be covered under the plan. As such, it is advisable to consider purchasing a comprehensive maternity health insurance policy well in advance of starting a family.
However, in some cases it may be possible to protect your new born child even though the delivery is not covered under the policy. This is possible due to the “New Born Child” benefit which many maternity health insurance policies will provide as part of the maternity coverage. While a “New Born Child” benefit will also typically be attached to a waiting period, the waiting period is usually much shorter than that associated with the maternity coverage; in some cases this can be as short as 6 months from the start of the plan.
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A “New Born Child” benefit will ensure that your child has quality medical protection from birth, and will normally be offered in one of two ways; the child can either be born into the plan, or may receive a “free benefit” under the policy.
If you elect for your child to receive a “free benefit” then they will receive medical care up to a predetermined time, or financial, limit. Once the limit of care on the policy has been reached you must submit an application to the insurance company in order for the child to receive continuing health insurance coverage – which will be treated as a new application by the insurer and underwritten accordingly.
If you elect to have your child born into the existing plan then the child will be covered from birth, no matter what the state of their health. Simply inform your policy provider that you have given birth, and add your new born child to the policy. It is important to note that while this option will give your child continuing coverage from birth, adding a child to the policy will increase you annual premium, and as such it is advisable that you contact an expert consultant to find the option which best fits your needs.
For more information about the comprehensive international maternity health insurance policies which we can provide, to learn more about the various new born child coverage options we can offer, or to receive a free quote, please contact one of our dedicated advisors today.
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