What is Maternity Insurance?
Maternity insurance in Singapore provides coverage for specific complications arising during pregnancy and childbirth, as well as congenital conditions in newborns. It acts as supplementary insurance, complementing basic government provisions like MediShield Life and MediSave.
When Should You Purchase Maternity Insurance?
It’s recommended to purchase maternity insurance between 13 to 36 weeks of pregnancy. Buying early ensures quicker coverage for potential complications.
Types of Maternity Insurance
- Standalone Policies: Provide short-term maternity-specific coverage.
- Bundled Policies: Attached to life or investment-linked policies, offering long-term benefits and transferable options to newborns.
Comparison of Maternity Insurance Plans
| Insurer & Plan | Type | Pregnancy Complications | Congenital Coverage | Special Benefits |
| Great Eastern – GREAT Maternity Care 2 | Standalone | 18 types | 26 types | Hospital cash, psychological support, GIB option |
| Singlife – MyMaternityPlan | Standalone (tied) | 10 types | 23 types | Phototherapy, stem-cell banking, IVF coverage |
| Manulife – ReadyMummy | Standalone | 14 types | 24 types | Psychotherapy, IVF coverage |
| NTUC Income – Maternity 360 | Standalone | 10 types | 23 types | Daily hospital cash benefit, budget-friendly |
| AIA – Mum2Baby Protect | Bundled | Wide range, includes pregnancy & early CI coverage | Covers multiple congenital illnesses | Guaranteed transfer to child’s life or CI plans, no underwriting |
| HSBC Life – HappyMummy | Bundled | Wide coverage of pregnancy complications | Enhanced CI coverage for newborns | Automatic transfer of coverage to child, strong newborn CI plan |
Key Considerations for Choosing a Plan
- Coverage for Pregnancy Complications: Plans vary significantly from covering 10 to 18 specific complications.
- Congenital Conditions Coverage: Evaluate based on comprehensive newborn congenital condition coverage.
- Special Benefits: Check for benefits like daily hospital cash, IVF support, psychological services, stem-cell banking, and phototherapy.
- Flexibility: Consider if the policy allows guaranteed issuance or transferability to your newborn without additional underwriting.
Complementary Government Provisions
- MediShield Life: Provides basic coverage for maternity-related complications.
- MediSave Maternity Package: Allows withdrawal for hospital bills and prenatal expenses.
- MediSave Grant for Newborns: Offers $4,000 to offset immediate newborn expenses.
Tips and Common Pitfalls
- Purchase Early: Buying between 13-20 weeks maximizes coverage potential.
- Check Waiting Periods: Typically 12-24 months for certain congenital and pregnancy complications.
- Coordinate Coverage: Ensure your maternity plan complements government benefits to avoid overlaps.
Final Thoughts
Selecting maternity insurance should reflect your individual priorities—whether comprehensive coverage for complications, congenital conditions, fertility support, or guaranteed policy transfers to your newborn. Understanding the strengths and limitations of each plan ensures informed and beneficial decision-making for your growing family.
Talk to me to discuss how we can tailor a maternity insurance plan that suits your unique needs and goals.
Enjoy a FREE mobile child vaccination service when you consult with me on your maternity insurance planning. Book your session today!
