Baby on the way? This insurance can help

Debra and Dai encourage soon-to-be-parents to consider extra insurance as part of their nesting checklist.


Insurance typically isn’t the first thing that comes to mind when thinking about starting a family, let alone pregnancy or maternity cover. But, like most insurance policies, pregnancy insurance could save you money and give you piece of mind in case something happens to you during your pregnancy or even after you’ve given birth.


Being mothers ourselves, we have experienced both the joys of pregnancy and the excitement of becoming first-time parents. But it can also be an emotional rollercoaster for the mother as our bodies adapt to all the myriad of changes.


During this exciting time in your life, you may not be thinking about what challenges could lay ahead but let’s be honest we can never be too prepared and in this day in age, it pays to be.


So what is pregnancy insurance?


In most cases, New Zealand’s public health system is well equipped to deal with pregnancy and it’s unlikely you will need additional assistance if you have a normal pregnancy. However, in some circumstances, you or your baby may experience health challenges along the way and this is where pregnancy or maternity cover can assist. 


As an example of a scary unforeseen event that could happen, what would you do if your new born was diagnosed with cancer or has a major health issue that requires full time care? What would happen to your income? Would your spouse be able to take care of you and your baby and look after your household expenses? These are all things we don’t want to think about, but, tragically, these situations do occasionally occur. Thankfully there are additional insurance options available to assist you through it or just give you peace of mind.


There are a number of insurance companies who offer additional pregnancy or maternity benefits that will cover certain medical bills due to pregnancy complications. And, if your child becomes critically ill, some insurers will also pay you or a family member to take time off work to care for your sick child.


When these sorts of events occur, the last thing you want to deal with is financial stress. Knowing what is out there and making a plan to get appropriate insurance for you and your family could be just the sort of peace of mind you need before tackling this new chapter of life.


If you would like more information, please contact our office and we will be happy to discuss the options with you.


Debra Halton is a Registered Financial Advisers with Velocity Financial. No investment decision should be taken based on the information in this blog alone. A disclosure statement is available free of charge upon request.