The question comes up with some frequency. Someone is pregnant and it suddenly dawns on them that life insurance is a good idea because there’s going to be this little “insurable interest” (industry term) running around before long. Can I get life insurance while I’m pregnant?
As with all underwriting, you will find different answers from different companies. And they all said, “that’s why we like independent insurance agents“!!! Sorry, I was dreaming there for a few seconds.
The majority of insurance companies fall into one slot. They will accept applications for insurance during the first or second trimester. Most will add a caveat that you can’t have had any problematic pregnancies in the past. This is probably good for most women because they haven’t yet reached the full impact of pregnancy on their weight. Yes, they will still weigh you. And no, most of them aren’t that interested in your pre-pregnancy weight unless you have a track record of pregnancies to prove that you bounce back to the original you when the tike arrives.
There are companies that will insure during the third trimester (that sounds redundant, but I don’t think it is). At that point you need to present yourself with no complications to date and no history of complications. There is the weight thing, but you can get the insurance and make sure you are with a company that will give you a reconsideration to a lower rate after the first year. One year of slightly higher rates isn’t too tough to swallow if you know you will be rewarded with lower rates when you are back to your normal weight.
There are also some real stick in the mud companies that simply will not offer insurance if you are pregnant.
One exception to any of the above that I haven’t run into, but I am willing to shoot an opinion from the hip on. I suspect that women having babies at medically higher risk ages would be asked to wait until the baby is born. I don’t know for sure where that would start, but I am guessing certainly by the mid 40’s. I know the underwriters would “postpone” that woman just recently that set the new record for the oldest new mother. I think she was 63 or something.
Bottom line. Pregnancy is not a show stopper when it comes to life insurance. Is it a good time to buy it? I think if I knew I had an “insurable interest” on the way that was one of the most important in my life, it would be the best time to buy.
This post is somewhat dated. Life insurance underwriting is changing and evolving continually. For more updated information check out some of the key word links. If you have a specific question or topic you need information for do a search. If you don’t find the answers you need contact me and we’ll make sure you get the information that is important to you.