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Discover How Singapore Maternity Insurance Can Safeguard Your Future: Essential FAQs Answered
Jan 17
2 min read
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What is Singapore maternity insurance? Maternity insurance is a single-premium insurance policy designed to provide coverage for pregnancy-related complications and congenital illnesses in newborns. It offers a lump sum payout or daily hospital allowance to help offset additional medical costs.
When should I buy maternity insurance? It's advisable to purchase maternity insurance as early as the 13th week of pregnancy, when the pregnancy is more stable. However, you can buy it up until the 35th to 40th week.
What does maternity insurance cover? Maternity insurance typically covers pre-natal and post-natal consultations, pregnancy complications, childbirth complications, and congenital illnesses in newborns. Coverage may include hospital care benefits, doctor consultations, and diagnostic tests.
Is maternity insurance necessary? While not essential, maternity insurance can help reduce financial burdens associated with pregnancy complications and congenital illnesses. It complements regular medical insurance and provides additional financial support.
How much does maternity insurance cost? The cost of maternity insurance can range from S$300 to S$1,600, depending on the coverage offered and the age of the mother. Premiums are generally lower for younger mothers.
Are there any exclusions or limitations? Maternity insurance typically does not cover the cost of delivery or hospitalization bills. It's important to review the policy details to understand the specific exclusions and limitations.
Can I purchase maternity insurance after giving birth? Most insurers require you to purchase maternity insurance before giving birth. However, some policies may offer coverage for future pregnancies if you already have a policy in place.
What is the waiting period for maternity insurance? Unlike regular health insurance, maternity insurance usually does not have a waiting period. Coverage begins immediately after the policy is purchased.