Having a family often means thinking about how life’s experiences will affect the children. This includes the possibility of a parent dying. With a cheap life insurance policy in place, the mortgage may be paid, the children’s education may be ensured and they may continue to live in the lifestyle that they are accustomed to.
Purchasing a Policy When Pregnant
Many men and women do not think about purchasing a cheap life insurance policy until they are pregnant or have had their first child. While often the father is covered, it is important to purchase a policy for the mother as well. This insures that if the mother should die or fall ill, there will be enough money available for the father to pay for the expenses that will be faced. The cost of supporting their family may include child care expenses, living expenses, meals, education and more.
Dealing with Pregnancy Complications
When planning a family, it is important to consider life insurance before becoming pregnant. Due to the high risks involved with pregnancy, many insurance companies will not issue a policy during a pregnancy or the premium rates may be much higher. Many companies maintain this policy until the baby is at least three months old. This is due to the possibility of high blood pressure, stroke or death that can be incurred during pregnancy. In addition, there are many medical conditions that may be exaggerated during pregnancy.
The Cost of Pregnancy and Life Insurance
Most people in their child-baring years can get cheap life insurance policies with term life insurance. However, for pregnant women, these insurance premium rates may be 50% higher. This is due to the possibility of pregnancy related complications. Any medically recorded complications will also increase the insurance premium rates. It is still important to be honest on a life insurance application though. Inaccuracies can result in a voided life insurance policy.
Subsequent Pregnancies and Life Insurance
Any medical conditions that were experienced during a previous pregnancy will also be looked at unfavorably by life insurance company underwriters. Even gestational diabetes or postpartum depression can wreak havoc on a potential life insurance application. While there are no statistics on postpartum depression suicides, insurers are wary about the possibility and inclined not to provide cheap life insurance coverage for those with this in their medical history.
High Risk Pregnancies and Life Insurance
With modern technological advances like IVF treatments and ultrasound equipment, women are also beginning to get pregnant later in life. This can create a higher risk pregnancy. High blood pressure, multiple births and undue strain on an older woman’s body may create potentially fatal complications. This can cause higher insurance premium rates for pregnant women.
The best solution is to get a cheap life insurance policy in place prior to becoming pregnant. However, even pregnant women can find the right cheap life insurance policy with us. It easy to find the right life insurance policy for you with our easy online quotation service,