If you’re hearing the patter of tiny feet, insurance probably isn’t the first thing on your mind – but it’s always helpful to know what your options are in terms of cover for your family, during pregnancy and childbirth, and once your baby arrives. If you’re interested in health, obstetrics or life insurance policies, there is plenty of information available online, and it’s good to shop around - you can also take a look at Quashed’s online guides, and article on obstetrics benefits.

If you need expert advice, insurance advisers are trained to provide advice tailored to your particular circumstances. Quashed can put you in touch with an experienced and independent adviser, free of charge, for a no-strings-attached chat. All you need to do is sign up to our free platform to get started!

Health and obstetrics insurance

Pregnancy has often been considered by insurers as an excluded condition in New Zealand, which means expectant mums are unable to claim for pregnancy-related medical care using their general health insurance policy. Part of the rationale behind this is public healthcare in New Zealand is free during pregnancy – and pregnancy is also seen as a voluntary condition, making it slightly different to other health issues.

However today many insurance companies do offer special obstetrics benefits to soon-to-be mums. Accuro, nib, AIA, Southern Cross and Unimed are among insurance providers who provide this form of cover, which covers the cost of specialist assistance, often up to $1000 or $2000 per pregnancy. Insurer Accuro also provides some cover via its SmartCare+ policy if you are diagnosed with fertility issues and need treatment.

We’ve compiled some information on these insurers and what they offer here: be aware that there are often conditions you need to meet to be eligible for this form of cover, such as having pre-existing health insurance with the same provider for a certain period of time.

Travel insurance during pregnancy  

Many travel insurers offer financial cover when you’re pregnant overseas and experience medical problems: but it’s important to be aware of exclusions that apply, for instance if you are over the specified period of weeks (often 20, 24 or 26 weeks), or if you have decided to travel against medical advice. The mother’s health expenses are usually covered, rather than those of the baby: but from 2021, Southern Cross will also cover neo-natal care if you have a premature baby overseas.

Other insurers who provide cover to pregnant travellers include STA Travel, NZ Travel Insurance, State Travel Insurance and TINZ.  If you’re taking out travel insurance while pregnant, it’s always good to take a good look at the fine print of your policy – and to be aware of what your medical needs may be as your pregnancy progresses, and to factor these in when you’re thinking about where to go. If you have a multiple pregnancy (you’re expecting twins or triplets) it’s best to double check the limits on your cover and when you can travel.

After your baby is born 

If you already have your own health insurance sorted out, or you’re considering taking out a health insurance policy, you might also like to consider health insurance for your child, when they’re born. It’s usually possible to add them to either your policy or your partner’s policy straight away – and it’s useful to get them on your policy as soon as you can, while they are still free from any pre-existing health conditions. Southern Cross and AA are examples of two providers who give parents a window of three or four months to their newborn child signed up, to health or private hospital insurance respectively.

 How much you pay to add children to your life insurance policy depends on your provider - some are more family-friendly than others. For example, you might have to pay for two children, and the rest are free.

Trauma (critical illness) insurance  

Trauma insurance, also known as critical illness insurance, covers people for a range of serious medical conditions: for instance cancer, conditions affecting your arteries or heart, and your nervous system (including paralysis). Parents who already have this type of insurance can often add their newborn child into their policy. If you’re looking at trauma insurance, take a look at all the benefits on offer – often there are maternity provisions included in there.

As an example of the type of cover new parents can expect in their trauma insurance policies, insurer AIA offers both a children’s trauma benefit (50% of the sum assured or $50,000 if your child is affected by a specified critical illness) and a newborn children’s benefit, allowing you to receive either 50% of the sum assured or $50,000 if your child is born with a specified congenital condition. This insurer also provides an optional children’s and maternity benefit, including some complications that may arise during pregnancy.

Another option parents have is to take standalone trauma insurance out for their child: some insurers provide this from the age of two or three. Physiotherapy, housing modifications, counselling and support returning to school after experiencing a critical illness are some of the benefits that come with this type of insurance policy. For more information on this form of cover, take a look at our guide.

Life insurance   

Starting a family is the impetus for many people to start looking at life insurance policies, and related forms of insurance such as income protection. If you already have a life insurance policy, having a baby is the perfect time to review it and see if the amount needs to be increased. One common way people work out their life insurance is ten times the salary of the highest earner, until your children leave school. However, if you want to provide for your child for longer, you might like to choose a higher amount. Quashed provides a free calculator to work out the amount of cover you need once you sign up!

It’s also important to note you can make your partner the co-owner of your life insurance policy, but you can’t do the same with a child – so if you want to leave your life insurance pay-out explicitly to your child or children, you may need to have a look at family trust structures (it’s a great idea to have legal advice for this, to ensure you get it right). Another pathway is to keep your will updated, and state exactly where you want your life insurance pay-out to go.

Next steps  

If you decide to take out health insurance with an obstetrics benefit, life insurance or trauma insurance with your child in mind, remember to upload your policies to Quashed! Quashed allows you to see all of your policies in one place. Once you’ve subscribed, check out the Explore feature on our dashboard which allows you to delve deeper into different forms of insurance offered in New Zealand.