Ask the Expert Series: Post 2020 Budget

Hi Almeida Maternity Insurance is a type of insurance policy that covers unexpected complications arising from pregnancy, which could affect either mother or child. The main purpose of the plan is to cover for pregnancy complications and congenital illness for the new born baby. The policy provides a one-time pay out to help offset the additional medical cost, which may be incurred, due to such complications. A maternity policy can exist as a one time standalone cover or a transferrable cover: To first cover the pregnant mum and the unborn child while pregnant and upon birth can be transferrable to the newborn without/with minimum underwriting requirements. I personally believe that it is a good to have these policies for expecting mothers as they tend to provide comprehensive pregnancy complications and congenital conditions compared to the normal plans which might cover them. Moreover, I had plans to purchase an education plan for my newborn upon birth. Hence, I had opted for