A Comprehensive Guide to Maternity Insurance in Singapore 2024

February 29, 2024

Welcoming a new addition to your family is an exciting journey, and amidst the joy, it’s crucial to consider the potential challenges that may arise during pregnancy. Maternity insurance, tailored for expectant parents in Singapore, offers financial protection in the event of unforeseen complications or congenital conditions affecting the newborn. Here’s a comprehensive guide to help you navigate through the essential aspects of maternity insurance.

Understanding Maternity Insurance:

Maternity insurance in Singapore is designed to provide a lump sum payout or daily hospital allowance if you encounter pregnancy complications or your newborn is diagnosed with congenital illnesses. It does not cover routine delivery or hospitalisation expenses, but it focuses on unexpected situations related to pregnancy and childbirth.

Areas of Coverage:

Maternity insurance covers pregnancy complications, congenital illnesses of the baby, and medical negligence due to childbirth. The specific inclusions may vary based on the plan you choose. Key areas of coverage include psychological consultations, hospital care benefits, protection against gestational diabetes, and coverage for congenital conditions in the baby.

Types of Maternity Insurance Plans:

There are two main types of maternity insurance plans in Singapore:

Standalone Maternity Insurance Plans:

- - Premium is paid once.
  - Coverage includes pregnancy complications, congenital illnesses, and juvenile conditions for a limited time.
  - Premiums are non-refundable, with no payouts if the pregnancy is successful.

Maternity Rider with a Base Plan:

- One-time premium with benefits similar to standalone plans.
- Bought together with a base plan, usually transferable to the newborn.
- Provides lifelong coverage for the child, with premium frequency varying based on preference.

When to Purchase Maternity Insurance:

Expectant mothers between 13 to 36 weeks pregnant can purchase maternity insurance. Regardless of the pregnancy stage, the premium remains the same.

Existing Coverage and the Need for Maternity Insurance:

While MediShield Life provides basic coverage for Singaporeans and Permanent Residents, maternity insurance complements existing plans by offering additional coverage tailored explicitly to pregnancy-related complications, childbirth, and developmental delays in the child.

Choosing the Right Insurance Provider:

Major insurance providers in Singapore, such as AIA, Prudential, Great Eastern, and Manulife, offer maternity insurance plans. The choice depends on personal preferences, and many opt for providers they are familiar with. It’s crucial to select a trustworthy agent to avoid upselling and ensure reliable support during claims.

Introducing PRUMum – A Tailored Maternity Insurance Plan:

PRUMum is a 4-year maternity term plan crafted to meet the needs of expecting mothers. It provides coverage from as early as week 13 of pregnancy and offers four coverage options. Some key features include:

Mental Wellness Care Cover: Covers psychological consultations and postpartum depression diagnosis.
Hospital Care Benefit: Provides daily payouts for hospitalisation against various conditions.
Pregnancy Complications Coverage: Protects against up to 17 pregnancy complications.
Gestational Diabetes (GDM) Protection: Safeguards against GDM and its resulting conditions for up to 10% of the sum assured.

How PRUMum Works:

13 Weeks of Pregnancy: Purchase PRUMum for assurance, covering pregnancy complications, GDM, psychological consultations, and hospital care benefits.
After Birth: Baby receives coverage for hospitalisation and 25 congenital illnesses up to 3 years old. Mother continues to be covered for various conditions for up to 60 days after birth.
Baby Turns 3: Baby’s coverage expires, while the mother continues to be protected against death.
End of 4th Year: PRUMum policy expires, and the baby continues to be protected with PRUShield Plus or Standard.

Important Considerations:

Coverage Extensions: PRUMum offers options for coverage extension, such as Health Cover for Child, allowing hassle-free protection for the baby’s healthcare needs without medical underwriting.
Insurance Provider: Read the product summary, seek advice from a qualified consultant, and choose an insurance provider that aligns with your needs

For more information: https://www.prudential.com.sg/products/life-insurance/maternity-insurance/prumum

As you embark on the beautiful journey to motherhood, understanding the nuances of maternity insurance can provide peace of mind and financial security during this transformative phase of life.