Over the past year I have been contacted on several occasions by people with the same issue; they, or their partner, are pregnant and they need to get pregnancy insurance in place. Unfortunately the answer is always the same. You have left it too late and no insurer is going to cover you now that you are pregnant. Why? You may ask. The answer is simple. An insurer is not going to expose themselves to risk when they know there is a 100% chance that a claim will be made.
As much as i would love to be able to advise on instant maternity coverage policies, its crucial you plan ahead if you are planning on becoming pregnant. Most providers place a waiting period on maternity benefits. This can range from 10 months to 1 year. You will be unable to claim any maternity benefits until the waiting period is over, therefore early planning is required if you want to have maternity insurance in place.
It’s also worthwhile to examine the maternity benefits on offer to assess if they are what you need, as they differ on a provider to provider basis. Some provide a lump sum benefit which covers the birth and some provide cover for complications. Some do not even cover maternity at all. In my opinion having cover for complications should be a key consideration. The cost of an uncomplicated birth can be calculated by simply calling a hospital and getting a round abouts quote. There are also the costs associated with antenatal check ups and vaccinations after the child is born. All in all if you have an uncomplicated birth then costs will likely be predictable.
The costs of potential complications are the big unknown, and an unknown which can run into millions of THB. Complications can involve children being born with birth defects and then needing treatment. Premature birth is also a complication which can prove expensive if the child needs to be cared for in an ICU. There is no way of predicting the costs of complications which is why insuring against the eventuality of them happening is always a prudent step.
If you are planning on starting a family, or growing your current one, please contact us and we can work with you to make sure you’re covered cost effectively during a time which can be stressful. We have numerous options available, including ones which cover both the birth and complications in full.