Maternity cover to get costlier

Maternity covers might see an increase in premium, with theInsurance Regulatory and Development Authority (Irda) advising companies to design comprehensive covers for this purpose. Insurers said if the mandates by the regulator are followed and products launched under those norms, there could a rise in the cost of such covers by 20-25 per cent.

In clarifications issued recently, Irda had said maternity expenses shall include medical treatment expenses traceable to childbirth (including complicated deliveries and caesarean sections) and expenses towards lawful medical termination of pregnancy during the policy period. Pre-natal and post-natal medical expenses for delivery or termination will generally be excluded from maternity expenses, unless insurers make special provisions for it.

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