Can I Get Life Insurance While Pregnant?
Welcoming a new baby into your family is one of the most happy, exciting, and let’s face it, stressful times of our lives.
For every moment eagerly spent comparing baby room colors or scrolling through Nameberry, there’s another worried moment about staying healthy while pregnant or obsessively childproofing the house.
As a new parent, you want the best for your baby’s future from the second that test comes back positive. You’re Mama Bear now, and nothing is more important than your child.
But is your new family fully prepared…no matter what?
Do All Moms Need Life Insurance?
In the U.S., there’s a full 10% gap between mothers and fathers purchasing life insurance. Do mothers really think their life has less value in the event of the unexpected?
With about a billion things to do (give or take), before Baby arrives, it’s understandable that the last thing on a new mom’s mind is dealing with life insurance. This is especially true if their significant other already has a policy, or makes a comfortable income on their own.
“My partner is already covered and makes plenty of money. We’re fine, right?”
Absolutely not. Even for stay-at-home-moms, the value mothers bring to the family extends far past the clear emotional, nurturing, and caretaking aspects of parenthood. Think of the carpooling, cooking, housekeeping, organization, and homework helping, and so much more that many mom’s do daily. Who would take care of that if you were gone?
It’s no surprise that, according to Salary.com, stay-at-home-moms would make a salary of $112,962 if they were paid for all the work they accomplished each year. The financial impact of losing any family member is significant.
Life insurance is even more essential if you’re a single parent. Even if you’re fortunate enough to have a solid support system, this typically extends only so far when it comes to financial support for your child’s future. If anything were to happen to you, who would pay for all of your kid’s needs into adulthood, and how would they afford it?
What is Life Insurance?
Life insurance is the safety net that will financially protect your family in case of your death. By paying a monthly premium each month, your loved ones will be guaranteed a specific amount of tax-free money that will be paid out in the event that something happens to you.
Term Life Insurance vs. Whole Life Insurance
Term life insurance is the most common form of life insurance, and a great option for most families. A yearly premium is determined and guaranteed for a specific period, typically between 20–30 years. After that period, you will need to re-apply for a new premium.
Term life insurance is often significantly more affordable than Whole life insurance. Whole life Insurance will lock you into a price and build upon the initial payout amount for life. There’s also more flexibility in how you can use that money. However, the cost can be well over $100 per month.
At JennyLife, we offer term life insurance as a way to decrease the stress surrounding the life insurance decision. With Term Life insurance from us, you’re guaranteed a set dollar amount if something were to happen to you over the term of your policy. It’s that simple.
Can I Get Life Insurance While Pregnant?
Yes! Pregnancy isn’t a disease, and the majority of insurance companies won’t treat it as such. There have been reports of a few outliers that have sparked rumors that pregnancy alone can cause insurance rejections, however this is a rarity.
Many are pleasantly surprised how affordable and easy getting insurance is, even while expecting. A healthy woman under 40 should be able to find great coverage for under $20/month–a small price to pay to ensure your child’s future.
When Should I Get Covered?
Whether you’re already pregnant, or hoping to be, the answer is as soon as possible. Though your actual pregnancy shouldn’t affect premiums, other health issues surrounding it might.
Some common health issues during pregnancy that can affect monthly premiums may include:
· High blood pressure
· Weight gain
· Gestational diabetes
These issues shouldn’t prevent coverage, as they are expected, but can spike that insurance cost, or decrease the possible payout.
Therefore, signing up for coverage as early in your pregnancy as possible is preferable. The chances of issues popping up in your second and third trimester are much more significant than in your first.
However, don’t use the fact that you’re late in your pregnancy, or experiencing pregnancy complications keep you from getting insured. Chances are any rate increases would be minimal, and you can always re-apply for a new policy post-pregnancy.
Also, the closer it gets to your due date, crazier life gets. With baby showers, room decorating, and doctor’s appointments taking up more of your time, it’s important to nail down a great policy when things aren’t so hectic and stressful.
It’ll certainly be easier than after your little one finally arrives. Are you really going to want to compare insurance quotes between those 2am feedings? Give yourself the peace of mind that your family is protected today, so you can focus on the more important things tomorrow.
How Do I Get Life Insurance ASAP?
Is getting pregnant the first time you’ve really considered purchasing a life insurance? You’re not alone. Motherhood truly changes life’s priorities and your drive to protect the one’s you love.
But that doesn’t mean you’ve magically figured everything out! Life insurance is complicated, and you have more important things to do than decipher how it works.
Thankfully, many companies have recognized the need to simplify life insurance. It’s now easier and faster than ever to sign up for a life insurance policy without even needing a doctor’s exam or blood test.
At JennyLife, we’re dedicated to making it ridiculously easy for moms to get incredible, affordable life insurance coverage. Download our user-friendly app on your Apple or Android phone, and get quoted instantly, no appointments required.
No payout in the world will ever replace Mom. However, it only takes a few minutes to give yourself and your loved ones the lifelong peace of mind that they’re protected — for life.