9 Things about maternity insurance that every expecting mum needs to know
Pregnancy is a time of excitement and sometimes uncertainty. Insurance for pregnant mums can be a soothing balm to ease away those little worries. Here, we provide answers to some frequently asked questions about maternity insurance, and how to go about getting it.
When couples take the plunge and decide to become parents, they embark on a brand new chapter of their lives that is exciting, yet full of unknown challenges. While it is difficult to foresee all the bumps on your way from pregnancy to being new parents, one way of sailing through this enchanting journey with more ease is to create a strong financial backup. A good way of doing this is to get insurance for expecting mothers.
Here’s what you should know about maternity insurance for expecting mothers
1. Why should I get insurance when I’m expecting?
Mum, we should like to tell you that once your little angel is born, your life will get busy in a beautifully chaotic way! This is why you should prepare as much as possible for these new-mum responsibilities while you are pregnant and have the time to do so.
At the same time, you should also take steps to look after yourself and your developing baby during these nine months. This is why early pregnancy (while you still have lots of energy!) is a good time to attend to important matters, such as getting your maternity insurance sorted. Insurance for expecting mums will protect you should the need arise during pregnancy. You can thus invest your hard-earned money in your baby’s future, knowing that you are covered during pregnancy.
2. What should I look for when buying a maternity insurance?
Insurance for expecting mothers is meant to provide essential protection to both mummy and baby. So, it should ideally cover as many pregnancy complications and infant medical conditions as possible. When you choose an insurance package that has these features, you get much needed peace of mind that your little one will be well looked after, should the need arise, during pregnancy, and after birth.
Some important factors to consider when choosing a good maternity insurance are:
- Protection for mum: The insurance for expecting mothers must cover major pregnancy complications, and hospitalisation to give complete protection to the expecting mother.
- Protection for baby right from birth: It must also cover congenital illnesses that your baby may face at birth.
- Guaranteed coverage: An insurance for expecting mothers plan should ideally give your little one a head-start and guaranteed protection later on in life too. Check if the plan you’re considering allows you to transfer cover to your little one without needing a medical checkup or health declaration. The reason is that such requirements could result in birth conditions being excluded from your child’s coverage.
3. How soon should I get insured once I know I’m pregnant?
A plan that commences as early as possible into your pregnancy is advisable so that you have reassurance right from the start. This is also important if you are a slightly older mum, in keeping with the rising age of mothers in Singapore.
Being an older mum has lots of great benefits. At the same time, the likelihood of health complications during pregnancy could be higher too. That’s why getting yourself a good maternity insurance early on is advised. By doing this, peace of mind is guaranteed that you will have access to funds for the best treatment for you or your baby, if needed.
4. What does it not cover?
There are some conditions that may not be covered by your insurance provider. Examples include:
- Pre-existing conditions, illnesses or diseases
- Use of non-prescribed drugs, liquor etc.
- Pregnancies with triplets or more
5. If I conceived via IVF, can I still buy insurance?
Babies conceived through artificial fertilization methods such as IVF (in vitro fertilization), IUI (intrauterine insemination), ICI (intracervical insemination) and ICS (intracytoplasmic sperm injection) are covered under some maternal insurance plans. In the last few years, the number of couples considering IVF and other ARTs (assisted reproductive technologies) for conceiving has been on the rise.
A report states that in 2012, the number of assisted reproduction cycles conducted in Singapore was less than 5000. In 2013 the number went up to 5519 and in 2015 the number had crossed the 6000 mark and reached 6044 assisted reproduction cycles.
The good news is that AIA (the first insurer to cover IVF pregnancies) has now enhanced coverage, with new AIA Mum2Baby by covering for ICI, IUI and ICSI pregnancies which are prone to higher risks.
6. If I’m expecting twins, can I get insured?
Generally, one insurance plan will cover for only one of the babies. In the event of twins, you should check with your insurer if the option is available to buy a second plan to cover the twin.
7. How long will my baby be covered by insurance after birth?
To avoid any gap in the cover, ensure that your plan gives continued coverage to your baby even after birth.
8. What if my baby is born premature or is unwell upon being born?
It’s true that maternity insurance offers you peace of mind in general during your pregnancy, even if there are no bumps along the way. However, pregnancy and birth issues like premature birth, cannot be predicted – which is why insurance is important.
A good insurance package for mums such as AIA Mum2Baby will even protect your tiny preemie, helping you focus on getting your little one nice and strong and able to leave the hospital soon. Also, it’s the only insurer that does not impose birth weight restriction for premature babies admitted to the neonatal intensive care unit (NICU).
9. If I’m a foreigner, can I still buy pregnancy insurance?
Yes, as a foreigner it is possible for you to buy maternity insurance in Singapore. But there are certain additional requirements to fulfill like demonstrating your intention to give birth in Singapore.
One of the best maternal insurance plans for pregnant mums in Singapore is AIA Mum2Baby.
It is made up of two components:
- The AIA Baby Protector provides essential cover for you and your baby from as early as 13 weeks of pregnancy up to 3 years.
It includes 10 pregnancy complications, 23 congenital complications, daily hospital care benefit for both and death cover for mum. It provides one of the highest covers for you and your little one.
- The AIA Pro Lifetime Protector (APLP) helps you start saving for your baby’s future. If you transfer APLP to newborn within 60 days of birth, your baby will enjoy guaranteed coverage with no health questions asked.
APLP comes with riders that allow you to customise protection for your baby, based on your needs and budget. Here are some of the key ones:
- AIA Double Critical Cover: It provides Singapore’s highest early critical illness coverage of S$350,000. Plus, it is the first rider to provide multi-stage coverage of up to 200% that policyholders can claim against multiple times.
- AIA Child Critical Cover: The first and only in Singapore to cover all three of the following developmental conditions: Autism, Dyslexia and Attention Deficit Hyperactivity Disorder (ADHD). This rider provides coverage for a child’s treatment across an extensive list of 25 child medical conditions until the age of 21. It can also be converted into a lifelong plan, providing the child guaranteed coverage through adulthood.
- Premium Waiver Rider: Under this, your child remains protected, as the remaining premiums will be covered by AIA in the event something untoward happens to the parent.
Mums-to-be, remember that in spite of the little worries that crop up with pregnancy, it is also one of the most beautiful experiences in your life. Let AIA Mum2Baby help you focus on that beauty by easing away your anxieties.
Sign-up for AIA Mum2Baby before 30 April 2018 to enjoy 10% savings on your first-year premium! Terms and conditions apply.