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Does health insurance provide maternity benefits?

Monday, November 08, 2010
By Manoj Aswani


Are there any special features in health insurance plans for elderly people we should look for? Which are the general insurance companies that have health plans for senior citizens?
Vaibhav Pawar, Dadar
A common feature of the Senior Citizen health insurance policy is "co-payment". It basically means that the customer (Insured) has to bear a certain percentage of the claims amount along with the insurance company. Please do check the percentage of co-payment in the policy thoroughly.
Also note, if there is an existing illness or disease, then the insurance company would not cover the same from the 1st time you avail the policy. Only if you renew the policy with them between 3 - 4 years, will they start covering the risk. These are few health insurance policies known to us, which are designed keeping Senior citizens in mind.
1. Star Health Senior Citizen Red Carpet
2. Bajaj Allianz Silver Health
3. Oriental Senior Citizen
4. United India Senior Citizens
5. Tata AIG Maharaksha
I have a group health insurance, but I am not sure if it provides maternity benefits. Please suggest any policies / companies that offer maternity benefits in health insurance?
Sushma Shah, Bhandup
For maternity insurance, the policy holder has to plan well in advance. The company usually has a clause whereby the maternity benefits are provided only if the policy holder has been availing health insurance from the same insurer from the last 2 to 3 years and continuously renewing the same without a break. Few of the companies which offer maternity insurance are:
  1. Apollo Munich Health Insurance (earlier Apollo DKV) has a few policies which provide Normal Delivery cover of Rs. 15,000 and Caesarean Delivery cover of Rs. 25,000
  2. Oriental Universal Health Insurance which provides a Normal Delivery cover of Rs. 2,500 and Caesarean Delivery cover of Rs. 5,000
  3. Max Bupa Health Insurance
Apollo Munich and Max Bupa are exclusive health insurance companies and both carry a strong background in the health care industry, namely Apollo Hospitals and Max Hospitals. Hence they keep a lot of health benefits in mind, while designing their health insurance policy. There may be other companies who provide similar maternity benefits. You may want to check the same with your existing insurance company if you have a health insurance policy in force.
Is an annuity or pension insurance a good idea and which are the different options under annuity?
Ramesh More, Vikhroli
Yes, annuity plan is a really good option to save money for retirement days and it forms a good portion of one’s investment portfolio. In certain policies, even after the pensioner’s or the recipient’s death, the pension or annuity is paid to the spouse or nominee. The reason for buying an annuity is to safeguard against the risk of living too long and provide money in the form of pension. The options under annuity are:
  1. Life Annuity – continues till the annuitant is alive
  2. Joint Life Annuity – payable to annuitant as long as he is alive and then to his spouse as long as the spouse is alive
  3. Annuity Certain – here the annuity is paid for a fixed number of years, like 5, 10, 15, 20 or 25 years as chosen by the annuitant
  4. Joint Life Certain Annuity - paid for a certain number of years and then till the death of the annuitant or spouse
  5. Annuity with return of purchase price on death – here the annuity is paid to the annuitant till he/she is alive and on death of the annuitant the purchase price of the annuity is paid to the nominee.
  6. Increasing Annuity – as the name suggests, it will keep increasing at regular intervals 
(The author is Vice President at www.MyInsuranceClub.com," target="_blank">http://www.myinsuranceclub.com/">www.MyInsuranceClub.com, insurance comparison website in India. You may write to him at )



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