If it is that time in your life when you are thinking about starting a family one day soon, it’s important to make sure that you have an existing maternity plan in place. If you are thinking about having kids, now is the time to review what cover you have that includes those benefits.
What benefits fall under maternity?
Not all medical schemes have a maternity benefit, so it’s best to speak to your advisor to find out what you need to do to get that cover. Most benefits include antenatal consultations, ultrasound scans, blood tests and in some cases antenatal classes. When you are planning, you need to be aware of how many consultations you can have in a year and also what benefits your baby will have once he or she is born.
Considering a Gap Cover benefit
Gap cover is the short-term cover that pays out the difference between what a specialist will charge and what your medical aid covers for in-hospital procedures. Obstetricians and other specialists charge in excess of medical aid tariffs and the difference is usually something that you would have to cover yourself.
There are gap providers that offer levels of cover but you have to bear in mind that a gap cover provider will usually apply for maternity waiting period of between 10 – 12 months. Also, you won’t be able to take out a gap cover policy if you are not with a medical aid scheme. You need to be mindful of waiting periods imposed both with medical aid and gap cover plans.
Whether you have had kids already or not, babies can be expensive, so save where you can (do not consider cancelling your medical aid) – look at starting a baby budget with peace of mind that you will be able to afford what you need when your bundle of joy arrives.
Having kids is a major life changing event so speak to an intermediary when you plan to start your family, during and even after the baby arrives. You may want to consider updating your will and amending your life cover and saving for your kids education.
Medical Gap Cover Questions & Queries
If you do have a medical aid plan or get one, it is important to also consider Gap Cover as an additional health insurance product.