Hi C, Maternity insurance is a lump sum payout and the payout does not have to go towards hospital bills.. it may go towards supplementing income if you’re unable to work due to a complication. It may also come in useful if it’s the baby that has complications. Baby wouldn’t have had a hospital plan yet. It all boils down to your personal concerns and needs. Hope that helps!
Maternity cover some stuffs that hosp plan don’t. Example : gestational diabetes (pls check criteria to claim), blue light therapy for baby etc. However, I feel that the MOST impt reason to get maternity insurance is to buy the life insurance for the child without underwriting. If you don’t fancy the life insurance for ur child, i feel is not a must have
Thanks for your explanation! It gives me a better idea!
Good to have NOT a must to have, depend on your financial comfort level I didn't get it for my 2nd pregnancy although I'm high risk🤰(above 40 years old)
I see.. I heard the same phrase from an agent too and that was why I was thinking if it is necessary since I am also considered high risk, and if I want to get any covers, I need to pay more than usual (due to loading).
Maternity insurance covers your baby as well and some other conditions that might not need you to be hospitalised!
C