For many women, the need to purchase life insurance truly manifests itself whenever she first learns of her pending arrival. This is especially true if she makes significant financial contributions to her family.
Buying life insurance while pregnant requires some prior planning, as many of the questions on an application can be difficult to answer under this circumstance.
One of the biggest concerns many life insurance companies have is whether or not a person smokes. Since many women quit smoking once they conceive, this does not necessarily mean it is okay to indicate they are non-smokers. Most companies consider people to be smokers until they have went a full year without using tobacco products. This means that if a woman smoked just before becoming pregnant, she must usually answer “yes” to questions relating to her smoking habits.
A woman naturally gains weight during her pregnancy, and these extra pounds do not indicate an underlying health problem. To avoid being discriminated against for gaining weight while pregnant, most companies allow pregnant applicants to write down how much they weighed before they were expecting a child. This is sometimes difficult to assess if a woman does not weigh herself often, so many times an educated guess is acceptable in this instance.
Many policy applications want to know how many drinks an individual normally partakes of. This number could also vary while a woman is pregnant since most abstain from alcohol during this period. As a result, some companies will vary the questionnaire so that applicants must disclose the amount of alcohol they have used over a five-year time period as well as having them state the amount they are currently partaking of.
Blood Pressure and Diabetes
Some women experience high blood pressure or signs of diabetes only while they are pregnant. These conditions normally go away once the baby is delivered. Even so, when filling out an application for life insurance, an expectant mother must be truthful in answering any questions about her pregnancy-related health problems. Some companies make exceptions for those who did not have these health problems before conceiving, so it’s best for a woman to shop around if she finds herself in one of the above categories.
Women who are having complications with their pregnancy may find that premiums to be unusually high. This can also be the case if a mother has previously had complications with her pregnancy or delivery to include a premature or stillborn infant. Since premiums are often assessed at the time the policy is put into place, it may be best to wait until after the child is delivered to buy life insurance if this is the case.
One thing many expectant mothers do not realize when it comes to life insurance and pregnancy is that some companies will raise rates immediately after the child is delivered. This is often done to cover risks associated with postnatal depression and are assessed automatically even if the mother does not suffer excessively from this condition. Pregnant women should ask their agents about any clauses related to postnatal depression so they are not caught off-guard by sudden rate increases after delivery.
Married couples can normally take advantage of a joint life insurance policy even while the wife is pregnant. A joint life insurance policy pays out a specified amount to the surviving spouse upon the death of the other party. When purchasing joint life insurance, the risk factors of the husband and wife are normally considered together. This may allow a woman who has health issues due to her pregnancy to take advantage of her husband’s good health in order to get a better overall rate.
The amount of a policy can largely depend on the amount a woman earns before she becomes pregnant. Most financial planners recommend buying a policy that is worth approximately 10 times her annual wage. This is true even if the mother plans to stay home or work only part time after she delivers. In the event she is already a stay-at-home mother, the recommended amount of coverage is usually between £250,000 and £300,000.
Life insurance can protect loved ones against an unexpected tragedy. No event seems to make this fact more of a reality than anticipating the birth of a child. If possible, mothers should try to purchase life insurance before becoming pregnant as age and overall good health generally mean lower premiums. Should a pregnant mother need coverage, comparing uk life insurance quotes is the best way to choose affordable coverage.