Life insurance coverage is important for pregnant women. However, if this is the first time you are going to buy life insurance, you may have certain questions you would like to clarify.
Here are some common questions that expecting moms may have about life insurance:
1. Which Is Better: Term Insurance or Permanent?
For those who don’t have enough disposable income, term insurance is the better option, as it costs less than a permanent one. However, permanent coverage offers more security and has a cash accumulation feature.
2. Would It Make a Difference If You Are a Stay-at-Home Mom Vs. a Working Mom?
A working mom has a steady source of income and contributes to the family. While a stay-at-home mom does not have any income, so it can be expensive to provide coverage for whatever she does, including child care to home care. You need to choose a life insurance policy depending on what you can afford.
3. Is My Employer’s Insurance Enough?
Companies generally offer a broad enough coverage, but you lose the policy when you leave the job. It’s best to take a separate life insurance policy.
4. Are There Any Medical Complications That Can Affect My Insurance?
If you are in the early stage of your pregnancy, you will have minimal complications. If you try to purchase coverage in your second or third trimester, most agencies will wait until your child is born before issuing life insurance. Insurers will also go through your medical reports, cholesterol tests, and other relevant documents to get an idea of your health.
5. What’s the Average Cost of a Life Insurance Policy?
The cost depends on many factors, including your health, age, and the number of pregnancies. Some insurance agencies may give a better deal if you opt for combined insurance.
Talk to your insurance agency to get the right life insurance that meets your needs and budget. For assistance with all your coverage needs and questions, contact the experts at John E. Peakes Insurance Agency in Lancaster, CA, today. We ensure life insurance for pregnant women is smoothly handled.