Yes, you can get life insurance while pregnant. However, you need to know that it depends on the results of a life insurance medical exam. You need to make sure that you inform the healthcare professional conducting the insurance exam about your pregnancy.
Always keep in mind that the life insurance medical exam will likely include blood or urine tests but won’t include a pregnancy test. So, it is advisable that you mention it upfront.
Why is it important to inform them upfront? If you don’t inform them about pregnancy and something happens during childbirth or within the policy’s contestability period, your partner’s claim could be denied. Even after this specific, any false information on your insurance application could be seen as fraud and even lead to denied claims or legal issues.
Will Pregnancy Increase My Life Insurance Premiums?
As long as your body changes are normal for pregnancy and you apply early, your premiums might not go up with some insurance companies. Expect weight gain and other changes. And if you don’t have pre-existing conditions or difficult pregnancies history, your rates may be the same as what they’d be if you weren’t pregnant.
However, you need to know that every insurer has its own rules for pregnant applicants. It is advisable that you ask your agent about any potential impacts on your rates. Generally, it is a very good idea to apply as soon as you know you’re pregnant or, even better, when you’re planning your family and before getting pregnant.
When to Apply for Life Insurance If You’re Pregnant
According to research, the ideal time to apply for life insurance is before you get pregnant. As this can help you secure lower rates. Pregnancy is seen as a medical condition, and it may increase premiums and rates.
However, if you’re already pregnant, the first trimester is the next best time to apply since complications are less likely and weight gain won’t be much.
If you experience complications like gestational diabetes, high blood pressure, or pre-eclampsia, it might be better to wait until after giving birth to apply. You need to allow your body to return to normal.
Additionally, many insurance providers may consider past pregnancy complications and your age. So, if you’ve had issues before, waiting 6 to 12 months after your child is born might be a perfect idea.
How to Customize Your Insurance Coverage If You Are Pregnant
If you’re pregnant, it is advisable that you customize your life insurance policy by adding riders or endorsements. Different companies offer various plans and options, but some are particularly made for expecting parents.
A child rider helps to offer a small death benefit to cover burial costs if the child dies at birth or shortly after. With the help of this rider, financial worries can be eased during a devastating loss.
A disability income rider can also offer protection if you become permanently disabled and can’t work, but you still need income to care for your children. You need to keep in mind that this rider doesn’t cover short-term disabilities.
More Options
Another option to look at is a spousal rider or a separate policy for your partner in order to add extra protection in case of disability or death. For additional security, you should consider purchasing a joint life insurance policy with your partner.
This joint policy leaves a benefit for your child if something happens to both of you. This can help in supporting a surviving spouse in caring for your child if one of you dies.
Frequently Asked Questions
Will my pregnancy affect my life insurance application?
Generally speaking, being pregnant is not a reason for your application to be denied. However, many insurers may consider any pregnancy-related medical problems when reviewing your application.
Are there any specific types of life insurance I can get while pregnant?
Typically, you can apply for term life or whole life insurance. However, keep in mind that some may have certain guidelines and requirements.
Will my premiums be higher because I am pregnant?
Pregnancy alone may not lead to high premiums. But any complications or medical issues may lead to very high premiums.
What type of insurance can I get while pregnant?
Some of the policies for pregnant women include life insurance, health insurance, travel insurance, and critical illness insurance.
Can I change insurance plans while pregnant?
Yes, you can. However, you need to be aware of exclusions or waiting periods.
