Life Insurance for Expectant Mothers

There are many misconceptions surrounding life insurance applications for pregnant women. While pregnancy, just like many other factors, can play a role in one’s insurability status, expectant mothers are not in any way prohibited from applying for coverage. In fact, one of the best ways you can protect your pregnancy and growing family is with a term or permanent life insurance policy.

Why Buy a Life Insurance Policy During Pregnancy?

Growth in family size automatically increases your financial responsibilities, which calls for an upgrade to your financial protection and personal finance plans via investment tools. Life insurance is one of the best instruments for this purpose.

Being insured, especially as a parent, has numerous benefits that you won’t get from any other financial tool. From childcare and mortgage payments to death benefits, there is a lot you can achieve with life insurance as a family.

Already-Insured Pregnant Moms

For those who already have an existing policy, the pregnancy period is the time to review and adjust an existing life insurance policy to accommodate the addition of a new family member. Whether you are looking into a new policy or reviewing existing coverage, you may need to undergo a medical examination as well as other application processes.

Does Pregnancy Affect Life Insurance Coverage Approval and Premium Rates?

Normally, pregnancy does not directly affect your life insurance rates and insurance providers are always careful to ensure your pregnancy isn’t held against your insurability. During the application process, they do adjust their expectations for expectant mothers, in terms of things such as weight and other typical pregnancy-related issues.

However, just like any other applicant, there are some related or non-related pregnancy factors that may affect your approved coverage amount and/or premium amount. In some situations, you may be advised to wait until after delivery for your life insurance policy application.

What Determines Life Insurance Amount for Expectant Mothers?

Applicants’ chances of morbidity or fatality are crucial in the life insurance industry. Being prone to health complications and death increases the likelihood of a coverage claim occurring within the policy term. The following pregnancy-related factors can expose people to health issues that might affect their policy.

Number of Children Carrying

Mothers carrying a single child will likely pay less in premiums than those with twins and other multiple fetuses. Research shows that over 50% of twins and up to 93% of triplets are born before the 37^th week of the pregnancy, which can greatly increase health risks to both the babies and the mother.

Age

Older pregnant women may be required to pay more in premiums than their younger counterparts. Not only because age plays a large factor in all life insurance policies, but also because of how age affects pregnancy. Expectant mothers older than 35 are often considered to be more susceptible to health complications.

Studies have shown that women aged 35 and above have up to a 30% higher risk of preterm birth. In another related study, researchers found that the risk of miscarriage is around 8.9% in women aged 20 to 24 compared to 74.7% in those 45 and older. Being too young (adolescent pregnancy) also has many health risks.

High-Risk Pregnancy and Complication History

Placenta previa, gestational diabetes, preeclampsia, depression, and other related conditions are considered as high-risk pregnancy factors. Those who below the age of 17 may fall also fall under this category. Additionally, having a history of complications such as preterm or premature labor, pregnancy loss, eclampsia, and other related issues will play a role in your qualification for coverage and premium amount.

Weight Gained

Of course, it is normal to gain weight during pregnancy, but there are safe and expected rates of gain that are healthy for both the mother and the baby. High cholesterol, obesity, and a high body mass index increase the chances of complications with pregnancy or child delivery. This may also affect your rate.

How Expectant Mothers Can Get the Best Life Insurance Quotes

The following tips will help expectant mothers qualify for and get the best rates for their policies:

Buy Early

In the early stages of your pregnancy, you will most likely have fewer health complications. For instance, common health conditions are less obvious during the first or second trimester. Applying earlier will improve the rate and chances of approval.

Work With a Licensed and Trusted Agent

Your life insurance agent will help you get the best rate and make the most of your policy during and after pregnancy. You can leverage their experience and industry expertise to guard against being shortchanged while shopping for the right product. In fact, the 2017 Florida Prohibited Insurance Act and some other states’ insurance laws emphasize this. They compel insurance providers to advise their applicants to consult agents or financial advisors before agreeing to a policy contract.

Avoid Dishonesty or Withholding Information

Don’t hold back or give false information when applying for a policy. If you are later caught to have intentionally deceived your provider, your whole plan may be invalidated and your payout may also be revoked.

Maintain Regular Prenatal Visits

This will improve your health status and reduce the chances of complications and will increase your life insurance coverage approval. Those with poor medical reports resulting from irregular prenatal care will be considered to be of higher health risk.

How LifeQuote Can Help

Here at LifeQuote, we understand the importance of being adequately insured, regardless of one’s health, age, or professional status. We work with the best insurance providers in the country to provide our clients with individualized life insurance policies that perfectly match people’s personal and family needs and preferences. Getting quality and affordable life insurance coverage from us today is as simple as getting a free quote.