The Comprehensive Guide to Getting Life Insurance While Pregnant
How Pregnancy Affects Your Premium
It’s typically easier and more affordable to get life insurance during your first or second trimester of pregnancy. As you progress further, securing a policy can get more challenging, particularly if you develop pregnancy-related conditions like high blood pressure and gestational diabetes. Even so, getting life insurance in your third trimester is still possible.
Having a record of regular doctor visits and cholesterol tests from before or early in your pregnancy can work in your favor. Life insurance companies will examine these medical records to determine your risk level. If your cholesterol levels are elevated due to pregnancy, providing documentation can help you secure a better rate.
Each insurance company has its own set of guidelines, but many are willing to offer affordable rates if your pregnancy is progressing normally and you’re carrying only one child. To qualify for a “Preferred” risk category, you’ll generally need to meet certain criteria:
Current age under 40
Not considered a high-risk pregnancy
No history of pregnancy complications
No history of medical problems that require on-going monitoring or treatment
Normal pregnancy weight gain as assessed by your physician
Normal height/weight, blood pressure, and lab results
However, if your pregnancy is considered high-risk or you’re experiencing complications, insurers may defer issuing a policy until after you’ve given birth.
Navigating Insurance Carriers
Life insurance policies for pregnant women can vary significantly from one insurance company to another. For instance, some insurers may base your premium on your weight before you became pregnant, while others might use your current weight, which could be much higher due to pregnancy.
To ensure you get the best rate, work with an independent broker, like Quotacy. A broker can shop your case to find the best carrier for your circumstances.
Learn more about the top-rated life insurance companies Quotacy works with.
Life Insurance and Pregnancy: A Real-Life Case Study
Jennifer, a Quotacy customer, 29 years old, sought a term life insurance policy during her third trimester. Initially, she chose a company that offered her the third-best risk class. However, her broker advised her to switch to a different insurer, one known for using pre-pregnancy weight for assessments. Following this advice, Jennifer received a better risk classification and saved $331 annually.
Reassessing Your Policy After Pregnancy
If you get a policy while pregnant and face higher premiums, you have the option to re-apply later, typically 1-2 years after activation. You won’t usually need to fill out a new application but will have to undergo another medical exam. This could lead to better rates if your weight, cholesterol, and blood pressure have returned to normal post-pregnancy.
You can also choose to apply for a new policy altogether, although this would require completing a new application and medical exam. Waiting at least six weeks post-delivery is advised, as insurers look out for postpartum depression.
