A pregnancy is one of the most significant life events you can experience.
Pregnancies inspire soon-to-be moms, partners and families to carefully consider their futures. That includes how they'll provide for their new baby. For expecting parents who don't yet have life insurance, being pregnant is a good time to think about it.
Life insurance is insurance you purchase a policy for, that will provide for a beneficiary or beneficiaries if the policyholder passes on. For parents, getting a life insurance policy is a way to ensure their children will be financially secure.
Some life insurance policies require health examinations and/or take into account health status and history. Here are some things pregnant women should know about life insurance when they need a policy.
Can You Get Life Insurance While Pregnant?
In many cases, the answer is yes. If you are early in your pregnancy, and there are no medical complications, you will likely be able to obtain life insurance without an issue. Particularly if you are in your first trimester, you don't have a pre-existing condition that could lead to pregnancy complications, and you don't have a history of complications from previous childbirth, you may be able to get a life insurance policy with relative ease.
Certain circumstances will affect your life insurance rate. For example, if you are healthily pregnant and do not smoke, that may have a more positive impact than if you were pregnant and smoked cigarettes.
If there are medical complications, there may be more difficulty obtaining life insurance. Also, the later you are in your pregnancy, the more likely the outcome will be that your policy will be approved after you give birth. It's best to apply for life insurance as soon as possible so you can secure a policy at the lowest rate.
Should You Still Get Life Insurance If You're Planning to Stay at Home?
If you don't plan on earning an income after the baby is born, you may be wondering about the value of life insurance. Life insurance is still important to have because the work you do as a stay-at-home parent is valuable.
If you pass on, your partner, spouse or other family members may need to pay for childcare, household maintenance and other related duties. Life insurance benefits can provide for this type of situation.
How Will Pregnancy Affect a Medical Examination?
If you're applying for life insurance that requires a medical examination, you may be wondering how the changes to your body may affect your life insurance premiums. The good news is, as long as the changes are considered average and normal for pregnancy, they shouldn't affect how much you pay for life insurance.
For example, if you're pregnant, you're going to gain weight and may have some common differences in test results. These likely won't be an issue in how your exam affects your premium.
If you're pregnant and are experiencing health issues like gestational diabetes or high blood pressure, those factors may be taken into account to determine your premium. Any complications that come up because of pregnancy, or if your doctor has identified your pregnancy as high risk, may affect your premiums.
If you want the lowest premiums possible, it's a good idea to apply for life insurance as soon as possible and to follow all doctor's orders to take care of your health during pregnancy.
Should You Wait to Get Life Insurance Until After the Baby Is Born?
In most cases, the answer to this question is no. That's because, you may experience complications during pregnancy or after labor that will increase your premium price. In some cases, you may be denied for life insurance altogether.
There is also the possibility of something fatal happening during the birth. Mortality related to pregnancy is uncommon. But because you are getting life insurance to protect your family, it's a good idea to make the more cautious choices to ensure you get the coverage you need.
If you do end up with a higher premium than you want while you're pregnant, you may be able to lower your premium in a year or two. If you had complications due to pregnancy that affected your premium, and you normalize your health after giving birth, you may be able to take another medical examination, where your most recent exam determines new premiums.
Having coverage is better than not having coverage. Ask your insurance representative about your options for lowering your premiums in the future.
Can You Hide Your Pregnancy When Applying for Life Insurance?
Honesty is always the best policy when applying for a life insurance policy. If you hide your pregnancy, are approved for life insurance, and then pass on because of something related to your pregnancy, your life insurance benefits may be denied.
This could complicate things for your family and future child. It's always best to be completely transparent when you apply for life insurance.
Have More Questions About Life Insurance When Pregnant?
If you're pregnant now or want to be in the future, consider getting life insurance as a way to protect your future child and family. Talk with an AIG Direct representative for how we can help you secure a life insurance policy. Call 800-294-4544 for a quote today.
