There are certain life stages during which getting life insurance is essential to your family’s well-being. Having a baby is one of those life-changing and rewarding experiences. Your priorities shift, and one of your greatest concerns is protecting your new little one.
Getting the best life insurance rates possible is one way you can financially protect your growing family. Quotacy is here to help guide you through the process of qualifying for a life insurance plan your family can afford, even after the little one arrives.
Can I get life insurance during my pregnancy?
Yes, most pregnant women can still qualify for life insurance even while pregnant. Quotacy has successfully worked with many pregnant applicants getting them approved for life insurance coverage.
Your best chances of getting life insurance while pregnant is to apply through a broker, like Quotacy. Brokers are not tied to one life insurance company and are able to shop the market.
Here at Quotacy we can take your online application, review it, and advise you on which life insurance company will give you the best options. Banner Life Insurance Company (Legal & General America) is one company in particular that Quotacy works with who is great with pregnant moms-to-be.
Pregnant and looking to buy life insurance? Start the process by getting a free term life insurance quote. Your Quotacy agent will work to get you the best coverage option and keep you updated every step of the way.
Getting the Best Life Insurance Rates During Pregnancy
Applying for life insurance during your first or second trimester is your next best option for life insurance coverage. The further into your term, the harder it may become to get coverage. Conditions that can occur during pregnancy (such as high blood pressure and gestational diabetes) will affect how the life insurance company rates you.
» Learn more: Getting Life Insurance While Pregnant
If you have seen a physician regularly and have pre-pregnancy or at least early-pregnancy cholesterol tests that the life insurance companies can review, this will help determine your rating since your levels may be elevated during pregnancy and while nursing. Some companies are more lenient on cholesterol requirements, but proof that your numbers are high strictly due to pregnancy will be helpful. Your medical records will provide this information.
Many companies are willing to offer affordable life insurance coverage to you if you are carrying a single baby and have no complications. You may even be considered a Preferred risk class if you can meet certain criteria. Although it always depends on the life insurance company, typical Preferred-worthy criteria includes:
- Current age under 40
- Not considered a high-risk pregnancy
- No history of pregnancy complications
- No history of medical problems that require on-going monitoring or treatment
- Normal pregnancy weight gain as assessed by your physician
- Normal height/weight, blood pressure, and lab results
If you have a high risk pregnancy or complications during pregnancy, the life insurance company may post-pone issuing a policy until after delivery.
See what you’d pay for life insurance
Planning Ahead for a Family
We know that you can’t plan for every life event, but purchasing life insurance before starting a family is a good way to save yourself money. While pregnancy is not a barrier to purchasing life insurance, it can still limit your options for getting the best life insurance rates.
Temporary conditions during pregnancy can cause pricing on life insurance to be much higher than pre-pregnancy. Whether you apply before, during, or after pregnancy, we will work with you every step of the way to help you get your growing family protected.
Life Insurance for Both Parents
Now, while this post focuses mainly on mamas, both parents need to have life insurance. You can be incredibly healthy and always wear your seatbelt, but accidents happen. You never know what tomorrow will bring. And parents can’t predict which of them may die first.
The goal of owning life insurance is to protect your children from the loss of financial support that they rely on to have a happy and fulfilled life. In order to do this, both parents need life insurance.
For couples, owning life insurance policies on each other is a simple process. Or you can opt to own your own policy and name your partner the beneficiary.
Life Insurance for Stay-at-Home Parents
You may be thinking “I plan on being a stay-at-home parent so I don’t need life insurance since I won’t be bringing in an income.” This way of thinking is common, but actually life insurance is important for those parents who don’t bring home a paycheck as well.
Don’t Wait to Apply
If purchasing life insurance while pregnant brought higher costs, you can always re-apply later to see if the company will lower your rates. Most insurance companies allow you to re-apply 1-2 years after activating your policy.
Going this route, you would not need to fill out a new application, but most likely will have to undergo another medical exam. To get the best life insurance rates, the new results would ideally show that your weight, cholesterol, and blood pressure levels are now back to normal.
If you do not want to wait one to two years, you can apply for a new policy and cancel your old one. This route would require you to fill out new applications, complete a new medical exam, and have your medical records pulled again.
Waiting until six weeks after the birth is the recommended length of time since postpartum depression is something the insurance companies would watch for.
You never know what life may bring, so we always recommend buying life insurance sooner rather than later.
Peace of Mind
There are so many things that come with a new baby. Deciding on a name, nursery items to buy, sleep schedules, the list goes on. The security and peace of mind that life insurance brings can be one thing to check off the list now.
First start by running term life insurance quotes for an estimated cost. We will help you make sure your growing family is financially protected in case of the premature death of a provider.
While death is not something one enjoys talking about, it is very important to plan for it especially if you have dependents. Consider purchasing life insurance today, it may be the one thing you wish you didn’t put off until tomorrow.
» Calculate: Life insurance needs calculator
Watch the Getting Life Insurance While Pregnant Video
About the writer
Natasha Cornelius, CLU
Senior Editor and Licensed Life Insurance Expert
Natasha Cornelius, CLU, is a writer, editor, and life insurance researcher for Quotacy.com where her goal is to make life insurance more transparent and easier to understand. She has been in the life insurance industry since 2010 and has been writing about life insurance since 2014. Natasha earned her Chartered Life Underwriter designation in 2022. She is also co-host of Quotacy’s YouTube series. Connect with her on LinkedIn.