An Introduction on Maternity Insurance in Singapore
In Singapore, maternity insurance is a niche field among insurance products. My clients and friends usually have little idea about it. They only come to consult me when the fact of pregnancy is on the table. In this article, I will have an introduction on maternity insurance in Singapore. If you are looking for relevant information, you will quickly grasp the key points here.
Photo by Suhyeon Choi on Unsplash
Point 1: The Expenses on Giving Birth
In Singapore, maternity insurance usually doesn’t cover the expenses on giving birth. While some luxury employee benefit packages or personal health insurance packages may cover such expenses, the cost of these packages are more or less the same as the expenses on giving birth. As a result, giving birth is generally self-funded by the parents-to-be.
Point 2: Protection on Complications
One of the key benefits provided by maternity insurance in Singapore is the coverage on complications. Common benefits are as follows:
1. Pregnancy complications benefit for mother. This benefit pays out a lump sum when the mother is diagnosed with one of the designated pregnancy complications. The designated pregnancy complications include: Abruptio Placentae, Amniotic Fluid Embolism, Fatty Liver of Pregnancy, Miscarriage due to Accident, etc.
2. Daily hospitalisation cash benefit for mother. This benefit pays out daily cash allowance when the mother is hospitalised due to the complications covered by Point 1 and other designated events. Other designated events include: Post-natal Anaemia, Complications of Lactational Mastitis, Surgical Site Infection following Caesarean Section, etc.
3. Congenital illnesses benefit for child. This benefit pays out a lump sum when the baby is diagnosed with one of the designated congenital illnesses. The designated congenital illnesses include: Down’s Syndrome, Cleft Palate or Cleft Lip, Atrial Septal Defect, Congenital Blindness, etc.
4. Daily hospitalisation cash benefit for child. This benefit pays out daily cash allowance when the baby is hospitalised due to one of the designated illnesses. The designated illnesses include: admission into ICU or HDU, Avian Influenza A (H7N9) and (H5N1), Dengue Haemorrhagic Fever, Hand, Foot and Mouth Disease, incubation for more than three consecutive days immediately following birth, etc.
5. Early delivery by Caesarean Section benefit for mother. This benefit pays out a lump sum when the mother has undergone a delivery at less than 36 weeks of gestation by Caesarean Section. The procedure must be deemed medically necessary as certified by the treating doctor.
Point 3: The Right to Be Insured when the Child Is Born
The other key benefit provided by maternity insurance in Singapore is to guarantee the right for the child to be insured when it is born.
Under common scenarios, if a child is born with congenital illnesses, insurance companies will postpone the child’s insurance application till certain age (usually 6 years old). Such situation brings lots of troubles and mental burdens for the new parents. Because the child will not be insured for any illnesses or accidents for several years.
To address this concern before the child is born, maternity insurance in Singapore guarantees that the child can be insured by critical illness insurance or even hospitalisation and surgical insurance after it is born. Although the congenital illnesses diagnosed before the issuance of the insurance will still be excluded, at least other unrelated conditions will be covered. This benefit is an assurance for the parents-to-be, and is more and more valued by people nowadays.
Above are the three key points to understand maternity insurance in Singapore. They are simple and easy to remember. If you have any relevant questions, welcome contacting me directly for a discussion.