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Getting Life Insurance While Pregnant
Securing life insurance during pregnancy is very common. Don’t delay – the sooner into your pregnancy you apply, the better.
Commonly, your premiums (monthly payment) will not be higher early into your pregnancy.
As a side note, life insurance exams (paramedical) do not conduct pregnancy tests. The medical examiner will ask if you are pregnant, and of course, you should always answer honestly.
Whether or not you are pregnant doesn’t not affect your life insurance rating. Rather, it is the potential complications arising during pregnancy that could impact life insurance rates.
How does pregnancy affect getting approved for life insurance?
There are a few life insurance companies out there that won’t issue a policy while you’re pregnant, if this is the case, you can either go to a different company, or wait until after the delivery. Most life insurance companies don’t have any issues getting expected mothers approved for life insurance and you actually can get approved as a preferred rating.
This, however, is only the case if you have a normal pregnancy. Luckily, with my wife we didn’t experience many complications in any of her pregnancies, but then again we weren’t applying for life insurance either. Generally speaking it’s easier to get approved in your first two trimesters. Typically nothing happens then in a pregnancy, fingers crossed, and little baby is developing just fine.
Timing is everything
Before you grow too concerned, let’s be clear about something: in most cases, pregnancy won’t drastically impact your ability to get life insurance or your rates. That means you can take a deep breath. Educating yourself about the factors that may impact coverage eligibility and rates is the first step.
But there are factors to consider as you shop life insurance while pregnant, and one of them is timing.
Ideally, you would have applied for life insurance before you got pregnant, but you probably wouldn’t be reading this article if that were the case.
The next best alternative is purchasing life insurance immediately after getting pregnant. In these early stages, the chances for complications are low and the pregnancy weight gain hasn’t yet hit.
What if I have pregnancy complications?
So, what are some complications that could affect my life insurance rating?
Even if you are charged more during pregnancy for health concerns, some coverage is better than none.
Remember, you can always reapply for coverage after your pregnancy if your premiums are elevated.
Your liver is an amazing organ in your body that performs a host of jobs, like removing toxins from your body, storing fuel for future use, and making proteins for your blood.
A liver enzyme test measures the chemicals secreted into the bloodstream by the liver, helping determine the health of your liver and how well it is functioning.
During pregnancy, an uncommon (1 in 1,000) condition called cholestasis can increase liver enzymes.
Life insurance companies consider an AST reading between 10 – 40 units per liter and an ALT reading to be between 7 – 56 units per liter to be within normal ranges.
A important, waxy, fat-like substance found in all cells in your body. Cholesterol levels need to increase during pregnancy for the health of the baby.
However, if they rise too much, chronically elevated cholesterol levels are connected to cardiovascular conditions, including stroke.
Generally, insurance companies are looking for total cholesterol numbers to be under 200.
Essentially, blood pressure is the measurement of the pressure your blood puts against your blood vessel walls each time your heart contracts.
Elevated blood pressure is a common issue, affecting tens of millions of people.
During the second half of your pregnancy, high blood pressure is called, gestational hypertension, and can cause complications such as preeclampsia, fetal growth restriction, and preterm birth. Again, insurance companies are concerned with your test results, not if you’re pregnant or not.
Usually, your blood pressure reading should be no higher than 140/90, without medication, for the lowest possible rates.
Pregnant women who have never had diabetes before, but have elevated blood sugar levels during pregnancy, are diagnosed with gestational diabetes.
If you’re of average risk for the condition, meaning that you have a BMI (body mass index) of below 30, no personal or family history of diabetes, and are younger than 25, your doctor will test you around week 24 of your pregnancy.
Higher risk pregnancies will test earlier.
Life insurance companies assess your current weight to determine your rating (health class that sets your premium rates).
Because a high percentage of moms weigh more post-pregnancy than they did pre-pregnancy, they error on the side of caution and rate you at your present weight, regardless of pregnancy status.
Each life insurance company creates their own health class rating system, however the general weight guideline below will help you understand the maximum weight females can weigh to qualify for a Preferred Plus (lowest premiums) rating
Worth the wait?
If it’s not urgent then it’s often suggested to wait six to eight weeks after baby arrives to then reapply for life insurance.
As long as you can wait, it most cases it could save you thousands of dollars to hold off on applying for life insurance.
If you had any of the conditions noted above hopefully by now they will pass and getting approved as a preferred rating will be a cinch.
How much Life Insurance do you need?
Deciding how much life insurance you need is one of the biggest questions that applicants ask when looking for a policy.
Because you’re about to go through an amazing life change, having enough life insurance is extremely important.
There are several things to consider before you decide how much you need.
Life insurance and Pregnancy
Life insurance is one of the most vital purchases you can make for the future of you and your family, which is about to get larger.
During pregnancy is when a lot of people start thinking about getting a life insurance plan, and you shouldn’t have to wait to get the coverage that you and your loved ones want.
While every situation is different, in most cases, your pregnancy isn’t going to impact your life insurance application. You can’t put a price tag on the peace of mind that having life insurance will bring to you and your loved ones.
How Much Coverage Should You Get?
One thing is clear: after the baby arrives, your household expenses will increase. Day-care, diapers, formula, and doctor’s appointments: babies aren’t cheap!
If something were to happen to you as the mother, you want to ensure that your life insurance coverage is sufficient enough to help your spouse or partner in covering the expenses.
How much life insurance coverage you purchase while pregnant can depend on a variety of factors.
Will you be staying home to care for the baby? If so, this may reduce day-care costs but it will also reduce household income.
Who would take care of the baby if something happened to both you and your spouse/partner? And how much is their coverage? This will impact your own insurance coverage needs to ensure that the new caretaker has ample income for the child’s needs.
What Should You Do if You’re Denied Coverage of Life Insurance While Pregnant?
If you’re denied life insurance while pregnant, don’t despair. Instead, keep applying elsewhere. Getting quotes online is easy and free, and it’s very likely that you’ll find a life insurance company willing to extend you coverage while pregnant.
But if you are denied, consider speaking with your life insurance company. It isn’t the end of the world if you choose to wait to get life insurance until after the birth of your baby.
A Final Word
Though it shouldn’t be difficult for most expecting mothers to obtain life insurance while pregnant, the reality is that many families do experience difficulties with getting approved or securing affordable, reasonable rates.
If you aren’t already covered when you get pregnant, try to apply for coverage as soon as possible.
If your insurance company requires a medical exam, go in ASAP: the longer you wait, the more likely your blood pressure, cholesterol, etc. will be at levels that your insurance company may consider worrisome.
Call us today for help with navigating the many options of life insurance while pregnant.
This is one more choice you don’t need to make it alone, and we’re here to help!