As an important part of fertility support policy， maternity insurance plays an important role in influencing women’s willingness to have another child. In the context of the declining fertility rate in China， based on the data from China Labor Dynamic Survey （CLDS） in 2018，this paper uses Logit and PSM model to empirically test whether maternity insurance has an effect on women’s willingness to have another child since the implementation of the universal two-child policy. The research findings indicate that compared with women without maternity insurance， women with maternity insurance exhibit a 7.7% higher willingness for further reproduction. Maternity insurance has a significant positive effect on increasing the reproductive willingness of women with traditional views on childbirth， women from one-child families， urban women and women with bachelor’s degree or higher. Therefore， this paper suggests that we should expand the coverage of maternity insurance， strengthen the fertility support function of maternity insurance， and strengthen the construction of maternity security system in rural areas.