Life insurance during pregnancy
Pregnancy is a life-changing experience. Your priorities change, with the health and financial wellbeing of your growing family to think about.
It’s no surprise then, that many parents consider taking out life insurance during pregnancy.
Here are the answers to questions you may have on life insurance and pregnancy.
Pregnancy is a life-changing experience. Your priorities change, with the health and financial wellbeing of your growing family to think about.
It’s no surprise then, that many parents consider taking out life insurance during pregnancy.
Here are the answers to questions you may have on life insurance and pregnancy.
Can I still qualify for life insurance during pregnancy?
When you start a family, you should revisit your financial protection policies as soon as possible. You can still qualify for life insurance during pregnancy. Applying for a life insurance policy when you’re pregnant is just the same as at any other time. You’ll still be asked the same questions.
If you already have a life insurance policy, you might want to consider increasing the pay-out amounts, to cover the future needs of your growing family.
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If you don’t already have life insurance, the start of your pregnancy could be a good time to take out a policy.
Figures from the Childhood Bereavement Network estimate that, sadly, a parent dies every 22 minutes in the UK, leaving dependent children. In other words, 111 children lose their mother or father every day. Having life insurance means your kids are financially cared for if you pass away. Many people take out life insurance designed to pay off their mortgage debt if they die, but if you increase the sum insured to more than you owe on the property, you can add enough cash to keep food on the table as well as a roof over your family’s head.
Just be aware that, if you have any pregnancy-related medical problems, some insurance providers might put the policy application on hold, until after the birth of your baby.
Common medical conditions during pregnancy can include:
- anaemia
- high blood pressure
- gestational diabetes
Do I have to tell my insurance provider I’m pregnant?
Yes, you must tell your insurance provider that you’re pregnant.
Full disclosure and transparency are essential. If you fail to tell your insurance provider about your condition, it could invalidate your policy if you need to make a claim.
What type of questions will my insurance provider ask?
As with all life insurance applications, it’s most likely an insurance provider will ask you questions about your general health, including lifestyle habits.
It’s important you answer honestly and give an accurate account of your health history.
Weight
You’re going to gain weight as your pregnancy progresses. Insurance providers understand this, and in most cases, they’ll ask for your pre-pregnancy weight.
Smoking
If you smoked before you became pregnant, and have recently given up, you still need to tell your insurance provider.
In most cases, you’ll need to have been smoke-free for at least a year before you can declare yourself as a non-smoker. This includes e-cigarettes and other nicotine replacement products.
Alcohol consumption
Most women avoid alcohol during pregnancy. However, you’ll still be asked questions about your alcohol consumption and whether it’s changed over the last five years.
This is because insurance providers want a clear understanding of your typical lifestyle habits.
Will my life insurance premiums cost more?
Your life insurance premiums won’t necessarily cost more. If you have a trouble-free pregnancy, you may find that the cost of your premium remains the same.
If you develop a pregnancy-related medical condition, gestational diabetes for example, your insurance provider might add a temporary increase to your premium until your health is back to normal.
How easy is it to get a life insurance quote?
Getting a life insurance quote during pregnancy is just as easy as at any other time. You’ll also be able to read the terms and conditions of each policy, so you can find out exactly what limits and exclusions there are. Get a quote today.
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