We should start off by saying, Congrats! Whether you’re planning on getting pregnant or you’re adding to your family – this is a wonderful time to enjoy.
It’s almost as enjoyable as reading about insurance!
Probably not (unless you’re getting hit with morning sickness), but you’re here asking, “Can you get life insurance while pregnant?”
Can I get life insurance while pregnant?
The quick and easy answer is…Yes! The long answer is…Your approval and price will depend on a variety things.
Don’t worry! We’re going to explain what those things are and answer all your questions. By the end of this article, you’ll be prepared, confident and ready to apply for coverage.
Getting coverage while pregnant is an easy purchase and can be quite affordable. The key is using an experienced life insurance agent who can guide your through the entire process – especially with health issues.
Don’t Wait to Apply
We hate to sound pushy. In fact it’s one of our calling cards. We never use pushy tactics but when it comes to being pregnant – sometimes it’s better to put in your application sooner than later.
Here’s the deal.
When applying for life insurance during a pregnancy, WHEN you actually apply is a huge factor.
In other words, it’s better to apply during your 1st or 2nd trimester of your pregnancy as they are “less risky” in the eyes of the insurer.
buying life insurance while pregnant
Applying and getting insurance while pregnant is the same as almost any situation. It doesn’t matter if your health is perfect or you have some health conditions – your agent will help you from start to finish.
The key is using an independent broker. Here’s why…
An independent broker, or insurance agent has access to multiple companies. Some agents only use 1 company. That means your choices are limited to 1 company and that’s definitely not good.
At LIB…(here comes our shameless self-promotion, but it’s great information. I promise!)
…we use only the best life insurance companies. We also provide you a fast and easy online application. It allows us to review your case and make the best recommendation based on your specific situation.
For example, Prudential might be the best for your friend that’s pregnant, but Banner is the best for you. The best company depends on the specific details of each individual.
>>Important: Underwriting rules are different from every company. That’s why some companies are better than others depending on the specific health details of the case.
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How to get the best life insurance rate when pregnant
Affordable insurance is easy when you’re pregnant without any risks or complications. Many companies will even approve you at Preferred rates just as long as you meet their guidelines.
>>Remember – Every company will look at your situation differently.
That may sound complicated, but it’s actually a good thing – if you want the best deal. Certain companies take on certain risks more than others. That’s why your agent is super important in finding the carrier that’s best for you.
How to get Preferred rates when pregnant
You can usually qualify for preferred rates with the following details:
- You’re under the age of 40
- Your health is normal
- Your BMI or Height/Weight Ratio is normal
- Your pregnancy weight gain is normal
- You haven’t been diagnosed with a high risk pregnancy
- You have had no complications with your pregnancy
Pregnancy Complications Can Be Complicating
Sometimes pregnancies become complicated. There are many things that can happen to the mother or fetus throughout the pregnancy.
Depending on the specific risk, it can make getting insurance a bit more difficult.
Now these risks don’t have to be life threatening. Companies look at certain risks before they approve and price your policy. In other words, you can get approved, but it may cost you more than if you didn’t have the risk.
Top 10 Pregnancy Life Insurance Risks
Here are some of the most common high risk and pregnancy situations that may affect your approval and premium rating.
- Gestational Diabetes
- Preeclampsia
- Previous pregnancy with twins or triplets?
- Maternal age (Extremely young or old)?
- Weight (Under or Overweight)?
- Tobacco Use
- Alcohol Use
- Drug Use
- Abnormalities of fetus or uterus
- Extreme fetal size
Do you even need life insurance?
Probably!
Do you plan to be a Stay At Home mom? What about working part time? Do you have to be the breadwinner to buy coverage?
Moms play a huge role in every household. It doesn’t matter if you’re home full-time or part time. Every contribution you make to your family can have a price. In fact, some have reported that Stay-At-Home Moms should earn over $100,000.
Think of all your responsibilities. Now think about how your family would function if you happened to die. Would your spouse have to pay for things like:
- Daycare
- Before/After School Care
- Housekeeping
- Transportation
- Tutoring
You could probably take an hour listing all of your current and future responsibilities.
Protecting Your Family
We understand that preparing for every event is difficult, but buying insurance now is a smart way to save yourself some money. Now that you know that your pregnancy is not a huge hurdle for buying your policy, it may still be an issue for finding the best rate.
Certain conditions and temporary risks during pregnancy can make the cost of your policy to go up (compared to what you’d pay before your pregnancy).
If your overall health is good, you can apply for your policy right now. You can even choose a no medical exam policy where you just answer some health questions. It can shave off weeks compared to a medical exam policy. Awesome!
Just know that no matter if you want to apply now, before, or after you’re pregnant, we’ll help you every step of the way.
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