Last Updated on by Tree of Wealth
Preparing for your baby’s arrival is one of the most exciting times in life. Pregnancy insurance provides coverage for congenital child conditions and pregnancy complications. This is why it is crucial to understand the essential details about an insurance policy before purchasing the plan.
ReadyMummy is a 3-year insurance plan that covers expectant mothers from an early 13 weeks of pregnancy and the coverage takes place until the policy ends (3 years).
ReadyMummy takes coverage of both your physical and mental wellbeing. Statistics indicate that depression affects an approximate of 10 to 15 percent of women after pregnancy. In this case, Manulife’s maternity plan is striving to provide a more holistic protection for the mother and baby before and after birth.
Key Features and Benefits of ReadyMummy Insurance Plan
- Daily Hospital Care Benefit – ReadyMummy pays 1% of the insured sum each day should mother/child requires hospital stay, for a maximum of 30 days.
- Outpatient Phototherapy Treatment Benefit – 1% of the sum assured will be paid out per day of rental for the phototherapy machine for a maximum of 10 days.
- Pregnancy Complications (Mother) – Covers against 14 pregnancy complications and pays out 100% of sum assured. Including miscarriage due to accident.
- Congenital Illness Coverage (Child) – Protects newborns against 24 congenital illnesses and pays out 100% of sum assured.
- Psychotherapy Treatment – covers mother at 10% of sum assured, should mummy de diagnosed with Generalized Anxiety Disorder (GAD) or Major Depressive Disorder (MDD) and on medication prescribed and undergoing psychotherapy treatment for at least 6 months.
- Flexible selection of insured sum – You are free to pick on the insured amount that you want you to get for maternity coverage.
- Covers for In Vitro Fertilisation (IVF), Intrauterine Insemination (IUI) and Intracervical Insemination (ICI), albeit with loading.
- Option to Purchase additional Whole Life plan (Manulife’s LifeReady Plus up to $200, 000 of sum assured including multiplier) and able to attach Critical Illness rider or Early Stage Critical Illness rider, within 6 months of child’s birth without medical underwriting.
How It Works
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What We Like About The Plan
- Comprehensive Stand-alone Maternity plan
- Good pregnancy complications and congenital illnesses coverage starting at an early 13th week of pregnancy.
- Option to purchase one of the most competitive Whole Life plan in the market (read our LifeReady Plus Review)
You may be interested: Best Whole Life Plans Singapore 2021 – The Ultimate Guide
ReadyMummy Insurance claim process
- Once you fill-up the claim form provided by the hospitals, submit it to the hospital
- The claim form will be sent to the insurer along with the doctor’s reports by the hospital authorities
- The claim experts of the company will raise queries that the hospital or you, will have to answer. Once the approval of the claim has gone through, the company will make direct payments to the hospital. The payments will be consistent with the eligible insured sum.
Like all Maternity plans, other important factors to consider:
- The benefits of pregnancy complications and congenital illness benefits are payable once.
- The benefits of hospitalization for both mother and child takes place up to 30 days accordingly.
With the high costs that may arise during pregnancy, planning for a newborn should be put into consideration. While there are so many Maternity plans in the market, understanding the details of the insurance product can be crucial.
The Manulife ReadyMummy is a comprehensive stand-alone maternity insurance plan. While similar to other maternity plans, the standout feature for Manulife’s is that they cover mothers for Psychotherapy Treatment. We hope this article has provided value in your choosing of maternity plan for your upcoming little one! All Maternity Plans have their pros and cons and we strongly recommend that you consider your options wisely.
To do that, let our experienced advisors help you find the most suitable plan!
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