Qualifying for Life Insurance while Pregnant.
Seeing how “major” life changes tend to increase one’s interest in the idea of purchasing a life insurance policy, it really shouldn’t come as too big of a surprise to learn that once someone becomes pregnant, questions like:
- Do we have any life insurance in place?
- If so, how much do we have?
After all, there probably isn’t any greater responsibility a single person can take on than choosing to have a child, which is why we wanted to take a moment and discuss what challenges an individual may face when trying to apply for a traditional life insurance policy while currently pregnant.
Questions that will be addressed within this article will include:
- Can someone still qualify for life insurance while pregnant?
- How will one’s pregnancy affect the application process and/or price?
- Are there certain “strategies” one should use when applying for life insurance when pregnant?
- What can I do to best insure I get the “best” rate for my insurance?
So, without further ado, let’s dive right in.
Can someone still qualify for life insurance while pregnant?
Yes, most pregnant women who would have been able to qualify for a traditional life insurance policy before becoming pregnant can and often will be able to qualify for a traditional life insurance policy while being pregnant. In fact, some may even be able to qualify for a Preferred rate!
The only problem is…
That sometimes, some women may experience certain “complications,” which can potentially affect the outcome of one’s life insurance application or could possibly cause them to be DENIED coverage or have their life insurance application POSTPONED.
How will one’s pregnancy affect the application process and/or price?
Now it’s important to understand that any time we here at IBUSA talk about qualifying for a life insurance policy, we’re ALWAYS talking about trying to qualify for the BEST life insurance policy available!
We’re not all that interested in JUST GETTING someone “insured.” Our goal is to help them find the BEST policy at the best rate. This is why, when someone contacts us who is currently pregnant, the first thing that we want to know…
“Is their pregnancy causing them to experience anything that may prevent them from qualifying for a rate that they would have been able to qualify for before becoming pregnant?”
- How much weight have they gained?
- Have they noticed any changes to their blood pressure levels?
- Have they developed any significant complications due to their pregnancy?
- What trimester are they in?
- Have they been prescribed any new medications since becoming pregnant?
- Have they stopped taking any previous medications since becoming pregnant?
- Have they been diagnosed with any pre-existing medical conditions prior to becoming pregnant?
Then with this information in hand, we’ll generally have a much better idea about what “kind” of insurance you may be able to qualify for (traditional life insurance vs no medical exam life insurance) as well as what kind of “rate” you may be able to qualify for as well.
Are there certain “strategies” one should use when applying for life insurance when pregnant?
Here at IBUSA, there are some “strategies” we’ll commonly try to employ when trying to help a life insurance applicant that is currently pregnant. The first thing that we’re going to want to look at is whether or not we’ll have any No Medical Exam Life Insurance options available.
We can avoid having an examiner meet with you to collect a blood and urine sample. Not that this would necessarily be an issue for someone who is pregnant, but it’s always kind of nice to avoid this added inconvenience (particularly when one is pregnant) if possible. This is especially true if the pricing for a No Medical Exam Life Insurance Policy is comparable to a policy that would require an exam.
We’re going to want to look at what “kind” of rate you’re likely to qualify for while being pregnant.
- Will you be able to qualify for the SAME rate now than you would have been able to qualify for before you became pregnant?
- Has your pregnancy caused you to gain a significant amount of weight?
- Are there “other” complications that may cause you to be approved at a high (more expensive) rate now?
We want to know the answers to these questions because, while our first priority is to get you insured before delivering birth, it isn’t going to make all that much sense to purchase a 30 year term life insurance policy at an INFLATED rate due to your pregnancy.
If you would have been able to qualify for a Preferred rate prior to your pregnancy but can only qualify for a Standard rate now, it may be in your best interest to purchase a 10-year term life insurance policy now, and then “reapply” for coverage after you have given birth. This way you are insured throughout your pregnancy but aren’t paying a higher rate for a 20 or 30-year term, which you would likely drop once you “recover” from you pregnancy and are able to qualify for a better rate.
This bring us to the last topic that we wanted to discuss with you for a moment, which is…
What can I do to best insure I get the “best” rate for my insurance?
Because life insurance companies tend to use a lot of “random” factors in determining who the will and won’t insure, and at what price, we here at IBUSA have found that the “best” way for us to be able to ensure that our clients are able to find the “best” life insurance policy that they can qualify for is to be sure to know our STUFF and offer a TON of options.
By only employing true life insurance professionals who have tons of experience helping folks with all sorts of pre-existing medical conditions (including pregnancies) and then providing them with tons of options to offer their clients, we here at IBUSA truly offer a one stop shop for folks looking to protect their family.
Which is why…
Our advice to anyone looking to purchase a life insurance policy is to be sure that the insurance agent that they choose to work with is truly an expert and that he or she has dozens of options for you to consider, because even if they are the greatest life insurance agent in the world, if they don’t have access to the “best” life insurance policy for you what good is that going to do you?
What are you waiting for? Give us a call today and let us earn the right to protect your family today!