FROM THE LEARNING CENTER

Should Pregnant Women Buy Life Insurance? Eligibility, Premiums, and When to Apply

by Ben Hsieh | October 12, 2021

4 Minute Read

If you’re pregnant, or planning to get pregnant in the near future, there are probably a million things on your mind. In addition to all of the planning for your new baby, you may have an extensive financial to-do list, too.

With a growing family top of mind, it’s no surprise that expecting mothers and new parents research life insurance options — and it’s a common misconception that you can’t ever buy life insurance while pregnant. Not only is it possible, it might be worth looking into.

That’s because, as a general rule when it comes to life insurance, the younger and healthier you are, the less expensive your monthly rate will be. If you’re starting a family in your mid-20s and in good health, you can buy a term life insurance policy and lock in a very low monthly rate for the next 10, 20, or even 30 years. 

Here’s everything you need to know about buying life insurance while pregnant.

Can You Buy Life Insurance While Pregnant?

You may find that some insurance companies won’t issue policies to pregnant women at all, but those are few and far between. Unfortunately, these few examples can sometimes lead to broad (and inaccurate) assumptions about who qualifies — with a result being that some women, especially those who’ve experienced some sort of pregnancy complication like gestational diabetes or pre-eclampsia, delay purchasing life insurance altogether.  

Generally, you are eligible for life insurance through all stages of pregnancy, though some insurance providers will wait until after you’ve given birth to start your policy if you apply after your first trimester. 

The big reason why an agent may ask you to wait until after your baby is born is your medical exam. Certain things might show up as “red flags” in your blood work, but they are actually normal for pregnant women. For example, during your second and third trimester, your cholesterol levels are higher because your baby needs it for healthy brain and limb development — a possible concern for non-pregnant women, but perfectly fine for mothers-to-be. Same thing with your blood pressure; it’s usually lower while pregnant, but that’s expected. And let’s not forget the typical 25-35 pounds of baby weight

Does Buying Life Insurance While Pregnant Mean a Higher Monthly Premium?

Generally speaking, applying for term life insurance while pregnant should not give you a higher monthly rate, though every life insurance company has their own rate factors and underwriting practices.

There are a few things that may lead to higher premiums while pregnant: 

  • Complications with previous pregnancies 
  • Pre-eclampsia
  • Pre-existing conditions that may create a high-risk pregnancy
  • Postpartum depression
  • Weight gain

If you’re generally healthy, your monthly rate should not increase just because you’re pregnant. However, whether or not pregnancy increases life insurance rates is completely dependent on the insurer. 

With that in mind, be sure to look for an insurer that understands these aspects of pregnancy and decides life insurance premium rates accordingly. 

Should You Buy Life Insurance If You Plan To Be A Stay-At-Home Parent?

It’s probably a smart idea for both parents to consider life insurance, whether you work full time, part time, or stay at home. It could be a way to help ensure your growing family remains financially stable in the case of an unexpected death. 

A life insurance payout may cover more than just funeral costs – it could potentially replace monthly income, pay off the mortgage, or provide support for expenses like childcare, housekeeping, college tuition, and more.

If you’re a stay-at-home parent, chances are you play a big role in childcare, extracurricular activities, errands, and keeping the house running smoothly. Life insurance coverage can help ease the burden for your family members in the case of your unexpected death. 

When To Apply For Life Insurance While Pregnant

If you’re able to start looking into life insurance as soon as that pregnancy test shows ‘positive’ (or even pre-pregnancy), it’s probably a good idea to get that ball rolling. You’ve got a lot on your plate, so it’s understandable if applying for life insurance is something that keeps getting kicked to the bottom of your to-do list. Just know that your application can take weeks to process, and the earlier you are in pregnancy, the lower your premiums are likely to be. 

What If You Already Have Life Insurance? 

If you’re already insured, pregnancy might be a good time to reassess your life insurance needs. Make sure your coverage amount still fits the financial needs of your growing family. And don’t forget to revisit your beneficiaries. You might want to make sure your new baby’s legal guardian is named as a beneficiary to help make sure your insurance payout benefits your child. 

Buying Term Life Insurance While Pregnant

With Bestow, you can get an instant life insurance quote, and then fully apply for a term life insurance policy online in just minutes.

There’s no physical medical exam required. Just answer some questions about your lifestyle and health, and get an underwriting decision instantly. Apply in as little as 5 minutes and you could have coverage today, if approved.