Maternity cover: Policybazaar, Aditya Birla Health Insurance float specialised scheme for expecting moms. Details here

Policybazaar and Aditya Birla Health Insurance have partnered to launch a groundbreaking "Health Booster Maternity Cover Rider" with the industry's shortest waiting period of just three months. This pioneering rider is designed to offer expectant parents a swift and cost-effective maternity insurance solution. By adding this rider to a base health policy, individuals can avail a fixed benefit of Rs 50,000, ensuring comprehensive coverage for all types of deliveries, whether normal or caesarean.

The maternity cover, available for Rs 25,000 (inclusive of GST), is designed to be accessible to a wide range of customers, with an entry age starting at 18 years, the companies said.

Key features

> The Health Booster Maternity plan provides coverage for various delivery methods, including both natural and cesarean births.

> The plan is tailored to meet the needs of a diverse range of customers with a flexible entry age starting at 18 years and above.

> Waiting period: Minimum 3 months

> Comprehensive maternity protection is offered at a cost of Rs 25,000 (inclusive of GST)

> This coverage can only be added to an existing base policy and is not available as a standalone product.

> The plan offers a maternity benefit cover of Rs 50,000, similar to other maternity insurance plans. The premium for the rider is separate and must be paid in addition to the base policy premium.

> For instance, if your health insurance premium is Rs 10,000, you will need to pay an extra Rs 25,000 to include the maternity cover, making the total premium Rs 35,000.

Sarbvir Singh, Joint Group CEO of PB Fintech, said that the demand for maternity insurance is highest among people aged 25-35.

"More than 65% of these customers are already expectant when they start looking for coverage. This plan fills a crucial gap in the market," he said.

Mayank Bathwal, CEO of Aditya Birla Health Insurance, said, "This rider is part of our Health-First model, offering timely protection to young couples and parents-to-be."

He said the plan allows them to focus on their journey to parenthood with peace of mind.