Expecting a baby? Here are the best maternity insurance plans in Singapore
We have an updated list of the best maternity insurance plans in Singapore for 2017 and it includes a brand new policy. Read it here!
Pregnancy can be a truly magical experience. The fact that you’re about to bring a life into this world is exciting, but it could also potentially be a scary prospect.
Do you know what maternity benefits you are entitled to? Read more about your employment rights here.
Complications can arise at any point during a pregnancy, which is why it is imperative to get the best healthcare while you are still carrying your unborn child.
Furthermore, when the time comes to actually deliver the baby, you would also want to ensure that you have the best maternity coverage possible for yourself.
Having a maternity insurance plan would help ease concerns regarding both these points. Here are some maternity insurance plans to consider if you are a mother-to-be.
Pacific Prime Maternity Insurance
The maternity insurance plan by Pacific Prime includes coverage for a standard pregnancy with a routine vaginal delivery in a hospital without any particular complications, irrespective of whether epidural was used or otherwise.
The policyholder can also opt for pre and post-natal coverage, which includes doctor consultation fees, ultrasound scan costs and tests which are deemed medically necessary.
Underwriting of the maternity policy may also include covering medically-necessary C-sections, new-born underwriting, pregnancy-related complications and congenital disorders too. More information can be found on the maternity insurance plan here.
AXA Mum’s Advantage
This insurance plan by AXA has two offerings – medical protection and financial investment. Protection towards an expectant mother can start as early as 16 weeks into a pregnancy.
There are two term options, one runs for 3 years (Mum’s Advantage) while the other for 6 years (Mum’s Advantage Plus).
The MumCare segment of the insurance plan aims to sooth potential treatment costs from pregnancy complications.
The child is also guaranteed protection against 18 types of congenital illnesses. Both the mother and the child will be able to enjoy hospital care benefits.
Some of the complications that are covered include Uterine Rupture, Spina Bifida, Congenital Deafness and Abruptio Placentae.
The INSPIRE FlexiProtector or INSPIRE FlexiSaver section of the insurance enables the parent to provide his child with a savings plan for its future. The investment is conducted through a variety of funds.
OCBC MaxMaternity Care
This maternity insurance plan is available exclusively to OCBC customers who are mothers in the weeks 13-40 in pregnancy, and aged between 17 years to 44 years. The plan protects the mother from 8 kinds of pregnancy complications. The child is also covered for 18 congenital diseases.
MaxMaternity Care by OCBC is available in two packages:
The Basic Plan
Under this package, the mother is covered for 8 types of pregnancy complications with a one-time payout of S$5,000. The hospital care benefit runs at S$100 per day. If death or total permanent disablement occurs due to complications during pregnancy, the Company would provide a one-time payout of S$5,000.
The child is offered the same hospital care benefit sum of S$100 daily. Should the child be diagnosed with any of the 18 types of congenital illnesses, OCBC would provide a one-time payout of S$5000. The same sum applies if the baby were to suffer death due to congenital illnesses.
The basic plan can be purchased at a one-time premium sum that ranges from S$443 to S$767. This is dependent on the mother’s age as of her next birthday.
The Enhanced Plan
This maternity insurance package offers a one-time payout of S$10,000 should the mother suffer from any of the 8 types of pregnancy complications, of in the event of death or total permanent disablement due to pregnancy complications. The mother is also accorded a daily hospital care benefit of S$200.
As for the child, the hospital care benefit is also covered for S$200 per day. In the event the baby were to suffer from any of the 18 types of congenital illnesses, there would be a one-time payout of S$10,000. The same sum also applies in the event of death to the child due to congenital illnesses.
The MaxMaternity Care also accords complimentary Zika virus infection coverage to the pregnant mother and the newborn which is based on the type of plan purchased.
AIA Family First Baby
AIA’s maternity plan is the first in Singapore to cover conception through in-vitro fertilization (IVF). The insurance package consists of prenatal insurance and a savings plan.
Coverage can begin from as early as 18 weeks, and it can be transferred to the child after birth so that the baby has guaranteed coverage from the get go.
Mothers are covered for 8 pregnancy-related complications, hospital care and death. The newborn is covered against 18 congenital illnesses, admission into Intensive Care Unit (ICU) or High Dependency Unit (HCU), incubation and hospitalisation due to Hand, Foot and Mouth (HFM) disease.
Should you go for the add-on incentive, the baby will be able to enjoy lifelong coverage from birth up to the age of a 100 years. The mother can purchase a similar coverage for herself once the existing policy has been transferred without the need for medical check-ups to continue receiving life protection.
More details on the Family First Baby plan are available here.
Prudential’s PruFirst Gift
PRUFirst Gift consists of PRUmum2be and PRUlink enhanced protector, an investment-linked plan. Its key benefits include coverage for the mother during pregnancy. This includes pregnancy complications, Total and Permanent Disability, Terminal Illness and Death (until the policy’s 3rd year).
The newborn is covered from birth with inclusions for congenital illnesses and hospital care benefits for up to 2 years of age. The PRUlink enhanced protector investment plan can be easily transferred to the child without the need for additional medical underwriting.
A parent can also opt to supplement the child’s protection by adding up more benefits to gain a more comprehensive package. A discount of 20% comes to play if supplementary benefits are added into the insurance plan in the first year.
The PRUfirst Gift plan is available in three bundle options.
The Sum Assured under the PRUmum2be plan is fixed at S$5,000 across all three PRUFirst Gift packages, while the Sum Assured for the PRUlink enhanced protector investment plan increases in increments of S$100,000 (S$100,000 for PRUfirst Gift 1, S$200,000 for PRUfirst Gift 2 and S$300,000 for PRUfirst Gift 3).
Find out more details on the maternity plan by Prudential here.
Looking for our updated list for 2017? Click here!
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