Congratulations! You are now in your second trimester! Words cannot explain how excited you are to become a parent. However, you can also feel the added financial responsibilities slowly creeping up on you as the weeks go by.
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What Is Maternity Insurance?
Maternity insurance is additional insurance that mothers are eligible for during 13 to 36 weeks of pregnancy. Also known as prenatal and pregnancy insurance, it protects against unforeseen pregnancy complications. On top of that, maternity insurance in Singapore also covers your precious newborn child.
Why Having Maternity Insurance is a Must?
Maternity insurance ensures peace of mind for expectant mothers, providing comprehensive coverage for various aspects of maternity care. Here are key advantages:
1. Financial Coverage
Covers medical expenses related to prenatal care, delivery, hospitalization, and postnatal care, easing the financial burden.
2. Protection against Complications
Includes coverage for pregnancy complications and unexpected medical conditions, offering support during challenging situations.
3. Neonatal Care
Addresses neonatal intensive care unit (NICU) charges, ensuring coverage for necessary medical care for the newborn.
4. Postnatal Support
Provides coverage for postnatal care and hospitalization, allowing mothers to focus on recovery without worrying about expenses.
5. Newborn Baby Coverage
Includes benefits such as vaccinations, medical check-ups, and necessary medical treatments for the newborn.
6. Additional Benefits
Some plans offer optional add-ons like coverage for traditional Chinese medicine (TCM) treatments or lactation consultations.
7. Peace of Mind
Ensures expectant parents have peace of mind, knowing they have financial protection during this significant life event.
Best Maternity Insurance Singapore Has To Offer
How to get maternity insurance? It’s so easy! Feel free to check out different companies’ offers and contact their representative when you’ve chosen which maternity insurance is the best for you.
1. AXA Maternity Insurance Review
Most all-round comprehensive maternity insurance plan
Need the most comprehensive coverage out there? AXA Maternity Insurance EmpoweredMum is your go-to. It covers a wide range of pregnancy complications and congenital illnesses, plus it offers a first-in-market early delivery by caesarean section benefit and free first-year hospital coverage for your newborn.
C-Section
An unplanned C-section can be costly, but AXA Maternity Insurance EmpoweredMum has you covered. If you need a C-section before 36 weeks of pregnancy, they’ll pay 15% of your sum assured. This means you can focus on healing and bonding with your baby without worrying about the bills.
Pregnancy is conceived through assisted reproductive technologies
Good news for parents who conceived their child through assisted reproductive technologies (ART)!
AXA Maternity Insurance EmpoweredMum doesn’t charge any extra premiums for ART pregnancies. They offer the most coverage for pregnancy problems and birth defects, and they also cover your baby’s hospital stays for the first year for free.
This means you can focus on your new arrival without worrying about the financial burden of medical bills.
You can purchase AXA Maternity Insurance EmpoweredMum through AXA HappyMummy (covering mother and child only) or AXA Maternity Insurance HappyFamily (covering the whole family).
Key policy highlights:
- First-in-market early delivery by caesarean section benefit. 15% of sum assured for c-section deliveries before 36 weeks of gestation.
- Broadest coverage of complications. 15 pregnancy complications and 26 congenital illnesses.
- Free first year hospital coverage (AXA Shield Plan B) for your newborn child without the need for medical underwriting. This first-in-market offering ensures a hassle-free application and provides you with peace of mind knowing your child’s hospitalization coverage is taken care of shortly after birth.
- Transferable protection for your child under AXA Maternity Insurance HappyMummy, a two-plan bundle comprising AXA EmpoweredMum and AXA Flexi Protector or AXA Life Treasure (II). Within 60 days from your child’s birth, you have the flexibility of transferring the cover of your AXA Flexi Protector or AXA Life Treasure plan and its applicable riders to your newborn child without medical underwriting.
2. Manulife ReadyMummy Review
Best standalone maternity insurance plan
Looking for a standalone plan that won’t break the bank? Manulife ReadyMummy is your best bet. It offers solid coverage for pregnancy complications and congenital illnesses, and it even covers ICI/IVF/IUI pregnancies for an extra premium.
Key policy highlights:
- Broadest coverage for standalone plans. Currently covers the most number of pregnancy complications and congenital illnesses amongst standalone policies on our list.
- Covers ICI/IVF/IUI pregnancies (at additional premiums). ICI/IVF/IUI pregnancies come with increased risk of pregnancy complications. Manulife ReadyMummy offers mothers the options of covering the additional risk with additional premiums.
- Psychotherapy treatment coverage. 10% of sum assured for psychotherapy treatments due to postpartum depression.
3. Income Maternity 360 Review
Best for C/B2/B2+ wards
On a tight budget but still want decent coverage? Income Maternity 360 is your friend. It’s one of the affordable choices that still covers a good number of pregnancy problems and birth defects.
Key policy highlights:
- Reasonable coverage. Although not the most comprehensive, it still covers the major pregnancy complications and congenital illness.
- Cheapest standalone policy. Cheapest premiums for a standalone pregnancy insurance policy in Singapore.
4. AIA Maternity Insurance Review
Best for rewards
All about those sweet rewards? AIA Maternity Insurance – Mum2Baby is your jam. It offers comprehensive coverage, lifelong protection for your child, and a chance to earn rewards through their AIA Vitality program.
Key policy highlights:
- One of the broadest coverage for complications. Coverage for 14 pregnancy complications and 25 congenital illnesses.
- Lifelong protection for your child. Ability to transfer base ILP or whole life plan to child within 60 days of birth without underwriting.
5. Aviva Maternity Insurance Review
Best for IVF pregnancies
Undergoing IVF? Aviva Maternity Insurance – MyMaternityPlan is your haven. It provides broad coverage for congenital illnesses, covers multiple children in a policy, and even includes stem cell therapy and developmental delay coverage.
Key policy highlights:
- Broad coverage for congenital illness. Although there is a narrow coverage for pregnancy complications, Aviva Maternity Insurance offers one of the broadest coverage for congenital illness.
- Covers multiple children in a policy. Perfect for mothers undergoing IVF with increased risks of multiple births.
6. Great Eastern Flexi Maternity Cover Review
Other notable mentions
Worried about additional hospital stays due to complications? Great Eastern Flexi Maternity Cover has your back. It offers hospitalization coverage for pregnancy complications or congenital illnesses, and you have the option to buy a lifelong plan without underwriting.
Key policy highlights:
- Hospitalization coverage. $200 per day as hospitalization benefit due to pregnancy complications or congenital illnesses.
- Option to buy a lifelong plan without underwriting. Purchase a whole life plan, endownment plan or ILP plan without the need for underwriting within 90 days of birth.
Maternity Insurance in Singapore Comparison
Mummies, we have compiled a summary of the benefits from the major maternity insurances in Singapore, and we hope that this helps you find the perfect insurance plan.
Updated in 2022
What Does Maternity Insurance Usually Cover
Maternity insurance plays a vital role in providing financial protection during pregnancy and childbirth. In Singapore, expectant mothers have access to various maternity insurance plans, covering:
- Prenatal medical expenses
- Delivery and hospitalization costs
- Complications during pregnancy and childbirth
- Neonatal Intensive Care Unit (NICU) charges
- Postnatal care and hospitalization
- Newborn baby coverage
- Vaccinations for newborns
- Pregnancy complications after delivery
- Emergency overseas medical expenses
- Optional add-ons: Traditional Chinese Medicine (TCM) or lactation consultation
Maternity insurance pays out a lump sum, depending on the complication faced or the length of hospitalization.
Cost Comparison for Different Wards:
|
Ward |
Normal |
C-section |
C-section with Complications |
|
Private |
9,913 |
14,982 |
17,558 |
|
Ward A |
5,588 |
9,865 |
11,055 |
|
Ward B1 |
4,146 |
8,245 |
8,749 |
|
Ward B2+ |
3,026 |
5,552 |
6,219 |
|
Ward B2 |
1,880 |
3,503 |
3,736 |
|
Ward C |
1,507 |
2,864 |
3,175 |
Source: Ministry of Health: Historical transacted bill information for July 2018 – June 2019 [xls]
As of 1 April 2019, 24 pregnancy complications are covered under MediShield Life. Although this helps to defray the cost in the event of complications, MediShield Life coverage is only sufficient if you are delivering in a C/B2/B2+ ward.
Mothers delivering in a B1/A1/Private hospital are unsubsidized and will have to face the bulk of the costs of complications.
Take note mothers! If you have recently upgraded to an integrated shield plan (ISP), there is a 10 months waiting period for pregnancy complications.
This means that you will only be eligible to claim under your ISP if 10 months have passed between signing up for the ISP and your pregnancy.
On top of that, ISPs will only cover the mother and certain pregnancy complications. So make sure you check with your financial adviser on your coverage.
How to Choose the Best Maternity Insurance Singapore Has to Offer
Choosing the right maternity insurance involves considering various factors:
Breadth of Coverage: Select a plan that matches your risk level and covers complications relevant to your medical history or age.
Sum Assured: Make sure that the sum assured adequately covers expected costs, especially if delivering in higher-tier wards.
Pregnancies from Assisted Reproductive Technologies: Check if the plan covers pregnancies conceived through assisted reproductive technologies, and if additional premiums apply.
Additional Benefits: Compare additional perks offered by each plan, such as coverage transfer, automatic inclusions, and other unique benefits.
Budget: Stay within your budget to avoid financial strain.
Exclusions: Thoroughly understand the exclusions list, seeking clarification from your doctor or financial adviser if needed.
How to Claim Maternity Insurance in Singapore
Understanding the claim process is essential for maximizing maternity insurance benefits:
Understand Your Policy: Familiarize yourself with coverage details, specific requirements, and limitations.
Notify the Insurance Provider: Inform your provider about your pregnancy promptly and follow their instructions for necessary documentation.
Gather Required Documents: Compile all necessary documents, including medical reports, invoices, and receipts.
Submit the Claim Form: Complete the claim form accurately and attach supporting documents.
Follow Timelines: Adhere to claim submission timelines to prevent rejections.
Keep Copies: Make copies of all submitted documents for your records.
Seek Assistance: Reach out to your provider’s customer service or claims department for guidance if needed.
With this comprehensive guide, you are equipped to make an informed decision about the best maternity insurance for your needs. Explore the detailed comparison table for more options, and contact your chosen provider for updates on plans and coverage.
Prepare for Parenthood With Greater Financial Ease
Expecting a bundle of joy? Ensure smart financial planning with Lendela’s free, handy loan calculator. Discover your loan affordability and effectively manage large expenses over time, ensuring peace of mind as you prepare for the journey of parenthood.
Contact your selected company to inquire about updates on maternity insurance plans and coverage.
ALSO READ:
Maternity Leave in Singapore: Insider Secrets, Tips, and Insights for Expecting Moms
What You Need To Know About Protecting Your Child With Maternity Insurance in Singapore