iCrowd Newswire
16 Mar 2023, 21:32 GMT+10
As exciting as a pregnancy can be, it definitely comes with a lot of questions. From a financial perspective, one of those might be whether you'll qualify for life insurance if you apply while you're pregnant. If you're currently in this situation, here's what you need to know about life insurance and pregnancy.
The short answer is yes. Most pregnant applicants should still be able to qualify for a great term life insurance policy. However, as with all changes in your medical condition, your eligibility will depend on various important factors that could change the outcome.
Some aspects of pregnancy may cause some applicants to be charged higher premiums or possibly be denied altogether. Here are a few important ones to consider.
The number of months you've been pregnant will be a significant consideration to the life insurance company. Generally speaking, those in the first or second trimester will experience fewer challenges than those in their third.
Life insurance is based on a large variety of personal attributes. Like it or not, a person's weight is part of this equation because research has demonstrated that people who are overweight are more likely to develop a disease such as diabetes or heart disease that could shorten their life expectancy.
Biologically, a woman's body size will grow considerably during pregnancy. Even though this is only temporary, the insurance company will still calculate the premiums based on the weight listed at the time of application. The insurance company may perceive this as an increased risk.
In some extreme cases, pregnant women can develop high-risk factors such as diabetes or high blood pressure. Again, even though these conditions may only be temporary and eventually return to normal after the pregnancy, they still could be viewed as negative risk factors and impact the applicant's chances of qualifying for coverage.
For these reasons, many experts often recommend waiting until you've delivered your baby to apply for life insurance. This lets your health return to normal, putting you in the best possible position to get a policy at a reasonable rate.
If you are approved for the life insurance policy during pregnancy, most will allow you to retake your medical exam one to two years later. If the new results are more favorable, they may reduce your premiums.
If you need life insurance immediately or have been turned down for any of the reasons mentioned above, you still have options. One of them is to consider purchasing guaranteed issue life insurance. This policy doesn't require any medical exams or health screenings.
You'll receive automatic coverage as long as you can pay the premiums. However, bear in mind that the cost of a policy without a medical exam will be much higher than traditional term life insurance.
While it's possible to qualify for life insurance while pregnant, there may still be some challenges. The life insurance company will consider factors such as the stage of pregnancy, your weight, and any newly developed medical risks.
For these reasons, it's recommended that most people who are several months into their pregnancy wait until after birth to apply. Don't forget that even if you are denied coverage, you could always opt for a policy that doesn't require medical screening, such as guaranteed issue life insurance.
Source:
See Campaign: https://www.iquanti.com
Name: Keyonda GoosbyEmail: [email protected]Job Title: PR Specialist
Tags:IPS, Google News, ReleaseLive, Go Media, CE, PR-Wirein, Reportedtimes, iCN Internal Distribution, Extended Distribution, EnglishGet a daily dose of New York Telegraph news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to New York Telegraph.
More InformationREDMOND, Washington: Artificial intelligence is transforming Microsoft's bottom line. The company saved over US$500 million last year...
WASHINGTON, D.C.: A federal rule designed to make it easier for Americans to cancel subscriptions has been blocked by a U.S. appeals...
BASTROP, Texas: In a surprising turn at Elon Musk's X platform, CEO Linda Yaccarino announced she is stepping down, just months after...
NEW YORK CITY, New York: Former British prime minister Rishi Sunak will return to Goldman Sachs in an advisory role, the Wall Street...
LONDON, U.K.: Physically backed gold exchange-traded funds recorded their most significant semi-annual inflow since the first half...
AMSTERDAM, Netherlands: Some 32 percent of global semiconductor production could face climate change-related copper supply disruptions...
NEW YORK CITY, New York: Former British prime minister Rishi Sunak will return to Goldman Sachs in an advisory role, the Wall Street...
WASHINGTON, D.C.: Travelers at U.S. airports will no longer need to remove their shoes during security screenings, Department of Homeland...
NEW YORK CITY, New York: Financial markets kicked off the week on a cautious note as President Donald Trump rolled out a fresh round...
(Photo credit: Aaron Doster-Imagn Images) Cody Bellinger spent the past two years rejuvenating his career with the Chicago Cubs....
Dallas [US], July 12 (ANI): Kieron Pollard may be a batting coach for Mumbai Indians (MI) in the Indian Premier League (IPL), a fitting...
(Photo credit: Wendell Cruz-Imagn Images) Cody Bellinger hit three homers for the first time in his career and drove in six runs,...