Being pregnant is an exciting and busy time, but it also comes with its fair share of worries. You’re probably thinking about how to give your growing family the best start in life, including financial security.
If you’re wondering whether you can get life insurance while pregnant or how it might work, you’re not alone. Here’s everything you need to know to make the right decision for your family.
Compare Life Insurance quotes online...
Can I apply for life insurance while pregnant?
Even when you're pregnant, you can still apply for life insurance just as you would at any other time. You'll still be asked the same questions you normally would.
An insurer can't deny you for cover based on being pregnant alone. Instead, they will look at potential risks such as your age, health, smoker status and any underlying health conditions you may have.
Why take out life insurance?
Bringing a child into the world can suddenly spark changes in many aspects of your life, including your financial responsibilities. A family life insurance plan could provide a whole host of benefits for your family and/or loved ones, like:
Helping to provide financial security for your family
Help covering living expenses and essential needs
Help paying off outstanding debts, such as mortgages, loans, or credit card debt
Help supporting your children’s education costs
Help covering your funeral costs
Leaving a legacy for your family
Giving peace of mind
The last thing any parent wants is to leave their children without the necessary support should something happen to them unexpectedly. Buying life insurance may provide support for your children after you're gone, and plan for the future ahead.
Do I need to tell my insurer that I'm pregnant?
If you already own life insurance you are not obligated to inform your insurer of your pregnancy.
However, if you're pregnant when applying, you must tell them along with any medical conditions you have. Failing to disclose health information can lead to complications, such as claims being denied later on or your policy being deemed void.
When you're pregnant, the insurer might consider other factors as part of their assessment, such as:
Your overall health during the pregnancy
Any pregnancy-related complications
Interested in speaking to an adviser?
Does pregnancy affect life insurance premiums?
If you already have life cover, your premiums won't be affected if you become pregnant. However, if you're applying whilst pregnant, your potential premiums may be affected if you have certain risk factors.
For example, your insurer may charge higher premiums if you suffer from complications due to being pregnant, such as:
High blood pressure
Gestational diabetes
Anaemia
Each of these factors can indicate a higher risk to insurers, which may result in increased premiums or adjusted policy terms. On the positive side, many healthy pregnancies do not significantly impact premiums, especially if there are no complications.
If you smoked or used any other nicotine products within 12 months of applying, you could also pay more for premiums. Even if you're pregnant you'll still be classified as a smoker for underwriting purposes.
Generally, you should use information such as your weight, smoker status, alcohol consumption, and occupation pre-pregnancy. In most cases, your insurer will want to know your overall health and lifestyle habits before your pregnancy as they are only temporary.
Do I need to update my life insurance when I have a baby?
It's best to review your life insurance policy after any life-changing events including pregnancy. You may decide that you want to have more cover as your responsibilities as a parent grow.
If you have a term life insurance, you may wish to extend the policy term to provide extra security for your children. Or you may wish to switch to a whole life policy which can provide lifelong protection.
You can also add your child - before or after their birth - as a beneficiary. This means they'll be entitled to receive financial support in the event of your passing.
Can I also get critical illness cover if I'm pregnant?
Critical illness cover can be a useful add-on to your life policy paying out if you suddenly suffer from a serious illness or condition. If you own cover prior to a pregnancy, your cover won't be affected, it could also cover pregnancy complications.
However, if you're pregnant at the time you apply, some insurers may put your application on hold until you have given birth. In the insurers eyes, pregnancy is considered a significant factor that could affect your health, which in turn influences the risk assessment.
Where to get advice
If you're unsure how pregnancy may affect your current cover or ability to take out life insurance Cavendish Online can help. Our team of friendly advisers can provide personalised guidance tailored to your situation.
We understand that discussing finances during such a significant time can feel overwhelming, so our advisers are here to simplify the process for you.
Whether it's explaining your options for new life insurance, reviewing existing policies, or suggesting additional cover, our priority is to ensure you feel comfortable and informed every step of the way.
To speak to our advised team, please call
01392 436193
(Monday to Friday, 9am - 5.30pm)
