Life Insurance: Before or After Baby?
Many people get life insurance after one of life’s big milestones:
Buying a house
Loss of a loved one
The birth of a baby
And while you can get life insurance after your baby is born or even while the baby is in utero (depending on the provider), the best practice is to go ahead and get life insurance before you begin having children, before they’re even a twinkle in their mother’s eye.
A reason to go ahead and get life insurance before a new addition to the family?
Pregnancies can cause complications for the mother – for both her own health and the initial medical exam for a policy. Red flags for insurance providers include:
Preeclampsia (occurs in 5-10% of all pregnancies)
Gestational Diabetes Mellitus (affects 9.2% of women)
High cholesterol (rises during pregnancy and breastfeeding)
A C-section (accounts for 32% of all deliveries)
Also, the advantage of youth is a great reason to go ahead and get life insurance – for both the mother and father.
The younger and healthier you are, the easier it is for you to get life insurance with lower premiums. It’s a great way to prepare for a baby: establishing a policy that will keep them shielded from the financial burden of an unexpected and traumatic life event.
Whether you’re a new parent or beginning to consider an addition to your family, contact me today, and we can discuss your options for opening a policy with enough coverage for a soon-to-be-growing family or updating your current one to include your new family member as a beneficiary.
Sources: National Institute of Health: “How many women are affected by or at risk of preeclampsia?.” 1.31.2017
American Diabetes Association: “What is Gestational Diabetes?” 11.21.2016
Made for Mums: “Cholesterol levels in pregnancy and feeding.”
CDC: “Births - Method of Delivery.” 3.17.2017