Pregnancy Insurance: What You Should Know, and What You Can’t Afford to Miss
If you are expecting a baby, congratulations. You are going through one of the most exciting times of life. Unfortunately, pregnancy is also a time when many realizations might come that otherwise would have never occurred to you. For example, until now you have probably never considered the fact for the next 18 or so years, you will be almost totally responsible for the growth, development, and care of another human being's life. Not only that, but this responsibility begins even before you leave the hospital with your new bundle of joy.
Many people don’t consider that a vaginal birth without complications can cost between $1,000 and $10,000. If you have a planned or emergency C-section, the cost can be almost double the cost. Fortunately, there is pregnancy insurance, otherwise called maternity insurance, which can offset those costs.
What is Maternity Insurance?
If you are a woman of childbearing age, it is a good idea to carry maternity insurance. In many cases, pregnancy is either not covered or is not included in standard medical insurance since it might be considered a preexisting condition.
Some insurance companies offer maternity insurance, but even in cases where they do, they have their limits. The primary purpose of maternity insurance in Singapore is to cover complications and congenital illness of the newborn.