IAI Maternity Plan

[somarco]

I got something in the mail a few weeks ago and finally got around to looking at it yesterday. Seems they have a stand alone maternity plan that has a $5,000 benefit for $100 per month and a 10 month waiting period.

So what's the catch?

The plan is through IAI, a marketing firm that means nothing to me.

The details in the brochure are sketchy. They appear toward the back of something they call Benefits Plus.

I am going to call them this week, but wondered if anyone had exposure to this agency and their products.

Highlights:

10 month waiting period

10 months before conception or delivery?

$5,000 benefit for 2 day hospital stay (normal delivery)

Any benefit for C-section or complications?

In most cases there is no out of pocket to doctor or hospital.

Well that's an agressive statement. Wonder if the carrier approved that language?

My guess would be no.

My first blush opinion is this is hocus pocus but I am willing to consider they may have channeled Houdini to make such a plan possible.

 

[STIBROKER]

First question....who's the insurance company.....

 

[TXINSURANCE]

Not one mention of this product on their website.

It doesn't pass the smell test.

At $100/mo that is $1200/year in premiums. If it "really" paid out a $5000 scheduled benefit the average policy holder would have to NOT get pregnant in 4 years of premiums ($4800).

More than likely it is some chopped up hospital indemnity supplement with a 10 month wait on maternity. The truth lies in the details and who the underwriter is.

Most of these hospital indemnity supplements drop the maternity or go under once agents start loading a bunch of soon to be pregnant on the plan.

$100/mo and 10 month wait - that alone puts you dead in the water since half the people calling about maternity are broke or already pregnant (though they won't admit it).

 

[somarco]

That is one of the questions on my list.

None is listed in their brochure.

 

[somarco]

Joe -

You have to register and login to get the information.

I was able to login yesterday and download some stuff. Today I get nowhere.

I agree that something doesn't seem right. Figured it was worth a call just to see what they are up to.