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Everything You Need to Know about Maternity Insurance

As an expecting parent, it's natural to be excited about the arrival of your new bundle of joy. However, it's essential to prepare for the unexpected, especially when it comes to the financial costs of pregnancy and childbirth complications, that's where maternity insurance comes in.


In this article, we'll explore why maternity insurance is a must-have for Singaporean parents and everything you need to know about it.


Why Maternity Insurance is Important for Singaporean Parents


Singapore has one of the best healthcare systems in the world, with high-quality medical facilities and skilled healthcare professionals. However, the cost of healthcare in Singapore can be expensive, especially for maternity-related expenses. According to a study by the Ministry of Health, the average cost of giving birth in Singapore ranges from S$3,000 to S$16,000, depending on the type of delivery and the hospital. This is where maternity insurance can help.


Maternity insurance provides coverage for the medical expenses associated with pregnancy, childbirth complications and postnatal care. This coverage includes prenatal consultations, delivery expenses, hospitalization fees, and postnatal care for both the mother and the baby. Having maternity insurance can help alleviate the financial burden of these expenses and provide peace of mind for expecting parents.


What are Maternity Insurance?


Maternity insurance are optional term insurance products that provides coverage for expecting mums and their newborn child. Usually coverage starts from 13 weeks of the pregnancy, up to the 3 years from policy inception. It mainly covers pregnancy/childbirth complications, newborn’s congenital illnesses. Beside the mentioned coverage, most maternity insurance also have hospital care benefit that provides coverage for additional illnesses such as bronchitis, premature birth, uterine rupture and more. Beside the coverage provided, some insurers typically package maternity insurance with a life/savings insurance product. This means that consumers interested in maternity insurance have to be prepared and comfortable with buying a life insurance product as well.

What Does Maternity Insurance Cover in Singapore?


Maternity insurance coverage can vary from plan to plan, but generally, it covers the following:

1. Complications during pregnancy and childbirth: Up to 19 different types of pregnancy and childbirth complications, it varies from insurer to insurer.

Types of Covered Pregnancy Complications

  • Abruptio Placentae

  • Amniotic Fluid Embolism

  • Antepartum and Intrapartum Haemorrhage

  • Breech Delivery

  • Choriocarcinoma and Hydatiform Mole

  • Disseminated Intravascular Coagulation

  • Ectopic Pregnancy

  • Fatty Liver of Pregnancy

  • Gestional Diabetes resulting in Foetal Macrosomia and Neonatal Hypoglycaemia

  • HELLP Syndrome

  • Miscarriage or Termination of Pregnancy due to Life Threatening Condition

  • Placenta Increta/Percreta

  • Placenta Previa

  • Postpartum Haemorrhage requiring Hysterectomy

  • Pre-Eclampsia/Eclampsia

  • Still Birth (after 28 weeks of gestation)

  • Twin-to-Twin Transfusion Syndrome

  • Uterine Rupture

  • Vasa Previa

2. Congenital Illnesses for newborn: Up to 26 different types of congenital Illnesses, varies from insurer to insurer.


Commonly Covered Congenital Illnesses

  • Absence of Two Limbs

  • Albinism

  • Anal Atresia

  • Atrial Septal Defect

  • Biliary Atresia

  • Cerebral Palsy

  • Cleft Palate/ CleftLip

  • Club Foot

  • Coarctation of Aorta

  • Congenital Blindness

  • Congenital Cataract

  • Congenital Deafness

  • Congenital Hypertrophic Pyloric Stenosis

  • Congenital Diaphragmatic Hernia

  • Congenital Abnormalities of Kidney & Urinary Tract

  • Development Dysplasia of the Hip

  • Down's Syndrome

  • Infantile Hydrocephalus

  • Patent Ductus Arteriosus

  • Retinopathy of Prematurity

  • Spina Bifida

  • Tetralogy Fallot

  • Trancheo-Esophageal Fistula / Esophageal Atresia

  • Transposition of Great Vessel

  • Truncus Arteriosus

  • Ventricular Septal Defect

3. Hospital Care Benefit: Received daily cash benefit up to 30 days due to a covered hospitalization event.


Types of Covered Conditions for Mummy’s Hospital Care Benefit

  • Abruptio Placentae

  • Amniotic Fluid Embolism

  • Fatty Liver of Pregnancy

  • Disseminated Intravascular Coagulation

  • HELLP Syndrome

  • Postnatal Anemia

  • Inpatient Psychiatric Treatment

  • Placenta Increta/Percreta

  • Postpartum Hemorrhage

  • Pre-Eclampsia/Eclampsia

  • Puerperal Pyrexia

  • Pulmonary Embolism

  • Repair of 4th Degree Perineal Tear

  • Septic Pelvic Thrombophlebitis

  • Still Birth

  • C-Section Surgical Site Infection

  • Uterine Infection/Transfusion from Retained Placenta

  • Uterine Rupture

Types of Covered Conditions for Newborn Hospital Care Benefit

  • Admission into ICU / HDU

  • Incubation of Newborn (3 day+)

  • Phototherapy

  • Hand, Foot and Mouth Disease

  • Infectious Disease

  • Severe Neonatal Jaundice

Do take note that maternity insurance does not cover for typical pregnancy costs like normal childbirth, prenatal and postnatal checks or vaccinations.


Factors to Consider When Choosing a Maternity Insurance Plan in Singapore


When choosing a maternity insurance plan in Singapore, here are some factors to consider:

  1. Types of Coverage: Make sure to check what the plan covers and the limits of the coverage.

  2. Waiting period: Some maternity insurance plans have a waiting period, which means you can only make claims after a certain period.

  3. Premiums: Consider the premium cost and whether it fits within your budget.

  4. Exclusions and limitations: Make sure to read the fine print and understand any exclusions and limitations of the plan.

Although maternity insurance is not a must-have for Singaporean parents, but it can help alleviate the financial burden of pregnancy and childbirth. With the high cost of healthcare in Singapore, having maternity insurance can provide peace of mind and ensure that you have access to the best medical care for you and your baby. When choosing a maternity insurance plan, make sure to consider the coverage, waiting period, premiums and any exclusions and limitations. With the right maternity insurance plan, you can focus on enjoying the journey of parenthood without worrying about the financial costs.


 

The information provided in this article is for educational and informational purposes only. It should not be construed as financial, legal, or professional advice. Before making any financial decisions, please consult with a licensed professional in your area. The writer and publisher of this article make no representations as to the accuracy or completeness of the information provided, and will not be liable for any errors or omissions in the information nor for the availability of this information. The writer and publisher will not be liable for any losses, injuries, or damages from the display or use of this information.








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