Should You Buy Pregnancy Insurance? Updated with NEW plans!

Question1: Does a pregnancy insurance cover for my delivery cost.

Answer: Pregnancy / Maternity Plans DOES NOT pay the delivery cost.

It pays a benefit (a.k.a compensation) to you if there is a pregnancy complication.

Your IP plan DOES NOT cover your delivery cost also.

Medisave and usually some cash is needed to pay the delivery cost.

So do save up.

Question2: Will my Integrated shield plan (IP) cover for pregnancy complication.

Answer: Yes BUT ONLY if it is a listed pregnancy complication condition.

For example: Pre-eclampsia (A common enough condition that is covered by ALL IP plans)

This is a serious condition that affects about 5 percent of pregnant women. (source)

Most expectant mothers who get pre-eclampsia will develop mild symptoms near their due date.

The IP covered for the inpatient bill if it is a listed pregnancy complication.

With a pregnancy insurance plan, you can file a claim and get a compensation which is the sum assured benefit.

Maybe this compensation can cover some other unforeseen expenses?

Read Conditions covered by integrated shield plans 

Question3: The sum assured is so small, what's the point?

See it kind of like personal accident coverage.

To protect small potential bills, not $100,000 catastrophic bill.

They are actually quite common.

In 2010, about 9,000 babies were hospitalised for congenital and neonatal conditions in subsidised wards at public hospitals. Even though they were in B2 or C class wards, some 700 had bills that came to more than $5,000. Click to read source.

More importantly, a pregnancy or maternity insurance can secure insurance coverage for your newborn.

Question4: Can I upgrade my integrated shield plan (IP) to cover pregnancy?

If you are already pregnant and you want to upgrade your integrated shield plan, then take note of this.

There is usually a 10-12 month waiting period before the IP covers you for pregnancy complications.

That means, the upgrade will exclude it.

For our private clients, we always advise them not to do any switch on their shield plan providers during pregnancy to avoid these waiting periods imposed.

There are 4 major benefits covered

1) Child congenital illnesses benefit

Pre-natal scans are unable to pick up all conditions fully.

Having said that, there is a range of severity for each of these illnesses.

If you check the wordings of the insurance policy, the conditions for claims are for events that are severe.

I have seen these conditions personally before

A: Club Foot

Policy wordings: Congenital abnormality of the lower extremity .. of the forefoot. The benefit will only be paid if the condition is bilateral. 

If it happens, the maternity insurance will pay out the sum assured benefit.

B: Cerebral Palsy

Policy wordings: A persisting, non-progressive disorder of movement resulting from damage to the brain ... 

The diagnosis must be confirmed by an appropriate medical specialist after birth.

Severe cerebral palsy may be diagnosed soon after birth.

However, the majority is diagnosed in the first two years after birth only.

For those with milder symptoms, a diagnosis may not be rendered until three to five years of age.

Pregnancy insurance covers for child congenital conditions for a few years.

I would also recommend purchasing some Life, TPD and critical illness insurance for your child after birth.

Click here if you want to read more on comparing the best wholelife plans.

2) Hospital cash benefit

There will be a list of covered conditions and for mum which pay daily hospital cash benefit.

An example will be prematurely born infants who need to be incubated for a few weeks.

In addition, phototherapy for severe neonatal jaundice is also important to have as a cover.

The daily hospital cash provides some compensation to cover your cost.

• Note: Each maternity insurance plan has a different definition of it. 
• AIA Mum2Baby link and AXA HappyMummy link provide 2%/day of sum assured.

3) Death coverage for mother or child

There is a small amount but it is usually not the focus for consideration.

Current highest is AXA HappyMummy at $30k sum assured. link

These following plans allow for IUI/IVF pregnancies(subjected to mummy's health status), usually will require an additional form to be filled up by your consulting gynaecologist.

• AIA Mum2Baby link
• AXA HappyMummy link
• Manulife Readymummy link

There may be extra premiums needed (loading to plan).

Do check why AIA Mum2Baby is a candidate to consider in this full article here.