Source: Unsplash
Woman shows ultrasound photo
Regardless of whether the pregnancy is planned or unplanned, making sure everything goes well during pregnancy is a priority. Can you get life insurance while pregnant? Here’s what you should know.
By Anya Binx
April 7, 2023, posted at 6:12 p.m. ET
Life is unpredictable, and insurance companies know it. Part of their job is to make sure you’re covered and covered at any event, planned or not. Pregnancy is treated as a delicate phase of life and those who may be pregnant or who are spending time with a pregnant person know this well. There is an initiative to protect parents and child at all costs. Whether a pregnancy is planned or unplanned, making sure everything goes well during pregnancy is always a priority.
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Insurance is almost like a safety net adding a sense of security that is reassuring during pregnancy. Can you get life insurance while pregnant? Here’s what you should know.
Do I have to tell life insurance that I’m pregnant? Source: Getty images
woman with child
While there is information that insurance companies may not need to know, it is important to keep them up to date on any major life updates that may affect your plan. You must tell your insurance company that you are pregnant, as insurance companies will usually check themselves if you have not yet disclosed this information. Pregnancy has a major impact on your overall health and life insurance companies need to be aware of any changes.
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Any pre-existing health condition previously recorded by your life insurance company may be affected throughout the period of your pregnancy, giving you the right to know. You could face life insurance fraud charges if you refuse to share this information with them. Life insurance fraud has the potential to result in your plan being terminated or the beneficiary losing entitlements. In short, yes, you must tell life insurance that you are pregnant.
Can you get life insurance while pregnant? Source: Unsplash
Woman shows ultrasound photo
It is entirely possible for you to take out life insurance when you are pregnant. Insurance companies sometimes give you access to competitive rates, but if you wait until after your pregnancy to get life insurance, you may be eligible for better rates.
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Sometimes eligibility for life insurance depends on the outcome of medical tests during pregnancy. Life insurance companies usually suggest that you name a beneficiary on the plan, which can alleviate financial problems if there are complications at birth or if someone else is raising the child. Insurers write their own policies in case pregnancy can become a new factor affecting life insurance plans, meaning no two companies are alike.
Why should I get life insurance while pregnant?
Why should I get life insurance while pregnant? If you die, the life insurance you took out during pregnancy will help financially for your family who will be directly affected. Life insurance is in place to cover end-of-life costs as much as possible and to supplement loss of income during the bereavement period. Having this life insurance plan handy can help alleviate the stress of making up for financial setbacks during or just after pregnancy.
This form of insurance protects spouses and children from devastating damage. Knowing that pregnancy has no definite way in which it can affect everyone, it’s wise to have some support for the most unpredictable moments. In addition, life insurance can cover some medical expenses, which can be helpful given all the routine hospital and doctor visits.
