Can Pregnant Women Buy Life Insurance?
As a rule, simply being pregnant does not preclude you from buying a new life insurance policy. In fact, many carriers will have no problem issuing coverage to a pregnant applicant.
However, it’s important to note that each company evaluates applicants’ situations on a case-by-case basis. Depending on your personal circumstances, health history, existing pregnancy complications, and the carrier you choose, applying for coverage while pregnant may look a little different.
There also might be a little extra work required on your end, especially if you want to lock in the best rate possible.
Do I Have to Tell My Insurance Company That I’m Pregnant?
Any time you’re applying for life insurance coverage, you should be fully transparent about any and all conditions related to your physical and mental health. This means that regardless of where you are in your pregnancy, you should absolutely tell your new insurance company that you are expecting.
Typically, life insurance companies do not test for pregnancy in paramedical exams. However, if you fail to disclose this information and something were to happen to you during childbirth or in the first two years of your policy, the carrier could deny your loved ones’ claim for benefits.
In the end, honesty is always the best (and safest) move.
Are Premiums Higher if You’re Pregnant?
Your life insurance premiums will not be higher because of a pregnancy. There are some instances where your pregnancy could indirectly impact your cost for coverage, however. These include:
- BMI/Weight — Your height and weight (including your BMI, or body mass index) are factors that get considered when determining the rates of your new policy. If you have gained pregnancy-related weight, this could shift your BMI and potentially increase rates. Many carriers will account for pregnancy-related weight gain, assuming it falls within normal and healthy limits. Other carriers may allow you to request a new physical exam after your baby is born.
- Medical conditions — If you are experiencing certain medical conditions directly related to or stemming from your pregnancy — such as preeclampsia, gestational diabetes, anemia, and more — these can affect the life insurance-buying process. In some cases, your carrier may choose to postpone your application until a few weeks after your baby is born, to allow for things to resolve.
- A high-risk pregnancy — If your physician has deemed your pregnancy high-risk, your approval will likely be postponed until after your baby is born. This will usually depend on your doctor’s concerns, any conditions present, and what risk the pregnancy poses to you and/or your unborn child.
In some cases, it may make sense to table your insurance-buying efforts until after your baby is born, to ensure that you’re able to buy the best — and most affordable — coverage for your loved ones.
Should I Buy Life Insurance Before, During, or After Pregnancy?
Ideally, it’s better to buy life insurance coverage as early as possible. This helps ensure that your family is protected if something unexpectedly happens to you. Also, the younger and in better health you are, the less you can expect to pay for coverage. Buying as early as possible reduces the impact that your age has on your premiums, as well as the potential for a medical condition to appear.
With that said: the best time to buy life insurance is before you even get pregnant, especially if you are already planning to have children in the future. This allows you to lock in lower rates and rest easy during your pregnancy, knowing that your partner and child(ren) are protected if anything happens to you.
If you are already pregnant, though, the idea still applies: buying sooner in your pregnancy is usually better than waiting until later. In many cases, you can purchase life insurance coverage while expecting, especially if you are in good health and have a low-risk pregnancy.
Some applicants may want to wait until after their baby is born to buy a new policy; this is especially true for expectant mothers who have been diagnosed with pregnancy-related conditions or have high-risk concerns. If that’s the case for you, be sure to resume your application as soon as your baby has arrived and your body has recovered. You may even want to add a child rider to your new policy once your little one is born, if available!
Interested in buying life insurance coverage, even while pregnant? LeapLife can help you find the right coverage through one of our trusted, A (or higher) rated life insurance partners, with the limits and riders that best suit you. Life insurance coverage is available in all 50 states and it only takes minutes to apply online!