Expert Insurance - Maternity Insurance Policy in India
Things to Know About Maternity Insurance Policy in India.
Motherhood is the foremost transformation that a woman goes through. Although you may see a lot to change in your life at this time, becoming a mother is truly a magical journey. Apart from this, motherhood related the fee and liability start from the day you get pregnant and are never-ending. These charges may push you into financial disturbance if you are unready. To avoid this situation, our Expert Insurance team helps to procure financial support with a Maternity Insurance Policy in India. Maternity insurance covers all cost up to a certain pre-defined limitation for your delivery. The premium payable on a Maternity Insurance Policy in India is higher than a regular health plan. The certainty of a claim being filed under the policy is absolute, which is why insurers impose a higher premium on these policies. Before you decide to buy such coverage, it is suggested you do a detailed cost-benefit survey between different plans provides by various insurance providers.
Which is Best Maternity Insurance Policy in India?
As per Expert Insurance, Maternity can be financially demanding for a middle-income family in city areas as both husband and wife work to meet the cost. Owing to high healthcare prices in India, it is every bit beneficial for a married couple to have a mediclaim policy with an add-on Best Maternity Insurance Policy in India. It’s not that simple though, insurance is based on the premise of covering an unanticipated danger, However, Pregnancy is planned and not a probability hence is not covered as a risk per se by insurance companies. There are no plans that uniquely cater to maternity cost however some health plans offer add-on riders to cover maternity prices under Best Maternity Insurance Policy in India. Pregnancy and parenthood are rigid and thrilling, and these plans can offer you some financial support and peace of mind. These plans will pay most of your pregnancy-related costs. But it is best to know what coverage’s are suggested so that you don’t have any surprises.
OUR SALIENT FEATURES
Waiver of Premium- This feature pays the premium of a policy if you become seriously sick or disabled.
Accelerated Benefit-This feature permits you to receive money advances against the benefit of your policy if you are diagnosed with a terminal ill health. Many folks with this profit use the money to assist obtain treatment and alternative expenses after they have solely a brief time to measure.
Guaranteed purchase Possibility- With this feature, you'll be able to purchase coverage at selected future dates or life events while not proving you are in healthiness.
Long-Term Care Riders- Some life merchandise embrace this selection, that permits you to use the profits of your policy to obtain long care in exchange for a reduced life benefit.
Spouse or Kid Term Riders-Life policies with this feature enable you to get term insurance for your relative or dependent kid, up to age twenty six. this selection are often a more cost-effective thanks to purchase coverage if you cannot afford separate policies.
Cash Price Plans- This kind of policy pays out upon your death and additionally accumulates price throughout your lifespan. You'll be able to use the money price as a tax-sheltered investment, as a fund from that you'll be able to borrow and use to pay the policy premiums later.
Mortgage Protection- This feature, usually found on term life policies, pays your mortgage if you die.
Cash Withdrawals and Loans- Several universal and whole life policies enable you to withdraw or borrow cash, victimization the money price of the policy as collateral. Interest rates tend to be comparatively low. You'll be able to additionally use the money price of your life policy to pay your premiums if you wish or need to prevent paying premiums for a amount of your time. You need to pay back the loan or your beneficiaries can receive a reduced benefit.
Survivor Support Services- Some life policies provide services that offer objective monetary and legal help to beneficiaries.
Employee Help Programs- This feature makes resources accessible to you for issues which will have an effect on your personal and business life. Resources are sometimes free and facilitate address problems like misuse, stress, marital status issues, legal considerations and major life events.
Eligibility Criteria (Only Salaried Can Apply)
Proof Of Income
Income Proof:Payslips, Bank Credit, Form 16
ID Proof: Passport/ Voter's ID Card / Driving License / PAN Card / Unique Identification Card / Identity Card issued by Central or State Goverment, Ministers of Statutory Bodies.
Address Proof: Passport / Latest Telephone Bill (Landline) / Latest Electricity Bill / Latest Bank Statement
Application Fee Charges
Fees & Charges are in the line with market norms and as per eligibility of specific cases. The interest rates for finance of auto are based on the following parameters:
- Borrower's profile;
- Geography of residence;
- Insurance amount;
Q1. What is an EMI?
A. EMI stands for "Equated Monthly Installments". The installment comprises of principal and interest component. EMI provides you with ease and benefit of paying back your Insurance amount in over a period of time through fixed monthly payments.
Q2. What is repayment schedule?
A. . Repayment schedule provides the amount of each EMI, due dates and breakup between principal and interest components. It also provides the outstanding principal after realization of each EMI.
Q3. Are there any special schemes available for me?
A. Special schemes are available from time to time. You should get in touch with our representative to get suitable scheme.
Q4. I am an existing customer, can I apply for another Insurance?
A. Yes. However, any approval will be based on your eligibility criteria.
Q5. I have repaid my Insurance successfully. Can I get finance now?
A. Yes. If you have cleared your Insurance without any defaults, you could be eligible for a special scheme.
Q6. How long will it take to get a Insurance?
A. Your Insurance will be processed within 24 to 48 hours depending upon the documents submitted and subsequent verification.