Importance of Maternity and Child Plans

Motherhood is a fulfiling and rewarding journey, but it also comes with its fair share of tasks and responsibilities. Children seek out their moms for every major or minor thing. Right from looking after a scraped knee to preparing a child for an important exam at school, mothers play several roles in the lives of their little ones.

However, women sometimes get caught up in their day-to-day duties and end up ignoring or underestimating the more significant challenges that their tiny tots may face. Securing the future of a child is essential in today’s world, and the mother can do so by investing in maternity and child plans.

Maternity plans and why they are important

The journey to motherhood starts even before the child is born. It is common for mothers to change their diets, lifestyle habits, and pay more attention to their health to ensure that their baby is healthy and happy in the womb. While visiting the doctor regularly and making conscious health choices during pregnancy is essential, women must also consider the need for a good maternity plan.

Many health insurance plans come with additional riders for pregnant women. These maternity plans include benefits like:

  • Medical care for the mother (pre and post-natal)
  • Ambulance costs
  • Hospitalisation expenses at the time of the child’s delivery
  • Limited coverage for the newborn baby for a certain period


For women who already have a health insurance plan, adding a maternity rider can be a great idea. With increasing pollution, contamination in food and water, and deteriorating health statistics around the globe, a maternity plan can give mothers an added edge and peace of mind when it comes to their safety and that of their baby.

In addition to this, the benefits of cashless hospitalisation, especially in case of complicated C-section deliveries can be a respite to parents during chaotic times. Maternity plans also cover post-natal medical care, ensuring that the newborn baby has a financial cushion to fall back on, right from the start.

Child insurance policies and how they are essential

Education plays a pivotal role in the life of an individual and can guarantee them a successful and prosperous future. Investing in a suitable child insurance policy is one of the essential duties of a mother. Higher education in India and around the world is becoming increasingly expensive. Many students are forced to let go of their dreams due to lack of funds. This is where a comprehensive child insurance policy can provide a student with the necessary funds to pursue a course of their choice from top universities, without having to worry about expenses.

Child insurance policies offer the following benefits:

  • Security: These plans safeguard the child even in the absence of the parents. The child can withdraw lump sum funds in the case of a parent’s demise within the policy term.
  • Flexible withdrawal options: The parents can pull out funds during the term of the policy under specific circumstances. This can be helpful to cover varied kinds of expenses like high school fees, college costs, or expenditures related to post-graduate/professional degrees.
  • Waivers: In case of the unfortunate demise of the parents, the child does not have to pay the premium. The insurance company pays the premium and the policy continues just as before.
  • Tax~ concessions: The premium paid towards the policy can be used to avail tax~ benefits under Section 80C of the Income Tax Act, 1961.


Mothers can choose between two types of child plans depending on their needs and interest:

Investment plans

Child Unit-Linked Life Insurance Plans (ULIPs) offer the double benefit of investment and insurance. A portion of the premium is spent towards the child’s education expenses, and the other half is invested in equity and debt.

Savings plans

These plans provide the basic features of insurance and savings. The policy offers a life cover2 or funds for education without the risk of investment and market instability.

To sum it up

Mothers are the first point of contact for a child when they enter the world. This is why it is incredibly crucial for women to plan every aspect of their children's lives. They need to make sure that they provide their children with a financially secure and comfortable life. The future is always uncertain and monetary emergencies can arise out of nowhere.

However, maternity and child insurance plans can offer much-needed relief and support to families in challenging times.

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Tax benefits are subject to conditions under Section 80C, 80CCC, 80D, 10(10A) and 10(10D) of the Income Tax Act, 1961. Tax laws are subject to amendments from time to time.

2Life Cover is the benefit payable on death of the life assured during the policy term.


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