LIFE INSURANCE DURING PREGNANCY
If you are pregnant, wether a married pregnant wife or unmarried pregnant mother - you probably have other things on your mind than thinking about getting a Life Insurance policy.
However, having loving responsibilities means you should still consider looking at the peace of mind Life Insurance or Critical Illness may do to help protect your unborn child, each other, a family if you have one or mortgage.
Often a woman can get life insurance through the end of her 1'st trimester but sometimes after that for some Insurers, there may be a waiting period following her baby's birth.
Do Life Insurance Companies test for Pregnancy ?
Not specifically but they will usually ask if you are pregnant & if there are any associated health complications. If there are, they may delay offering cover until you have given birth.
Life Insurance & Pregnancy Weight / Pre Pregnancy Weight ?
Do Insurers ask what your weight is during pregnancy ...as it will naturally rise from month 1 onwards ? Most Insurers will usually ask what your pre-pregancy weight is was - rather than specifically now during the actual pregnancy. But also if there are any associated health complications if you were overweight before. If there are BMI issues - they may be offering medically rated cover terms....Or could delay cover until you have given birth.
Life Insurance - Pregnancy Complications ?
As Insurance is based upon risk - Insurers will usually ask if you are pregnant & if there are any associated health complications already due to your being pregnant. If there are, they may delay offering cover until you have given birth or if sadly your child is stillborn.
What can problems arise from being Pregnant to make it hard getting Life Insurance ?
Death through pregnancy is quite rare today in the UK but carrying a child means there can be other complications. Conditions such as gestional diabetes, raised blood pressure, heart issues, toxaemia are likely to result in an insurance application being delayed. Many Insurers in 2022 state they are often seeing a new generational wave of high-risk mothers - who are more likely to face complications or women who have IVF and are likely to have multiple births, increasing the risk of severe pre-eclampsia. 2'nd pregnancies where the first has been complex would almost certainly cause insurers to delay cover until after birth.
Can I buy a Life Insurance Policy during Pregnancy for my partner ?
Yes - UK Insurance rules state there must be an insurable interest between a wife or girlfriend & partner to arrange a life insurance policy. You can always arrange a single policy. Also both parties must consent to this arrangement. You don't have to be married to get a life insurance on someone.
Can I get a Life Insurance on my Pregnant Wife/Girlfriend without her knowing ?
No - both parties must consent to this arrangement ie; you cannot just apply on their behalf without their knowledge.
Can I put my Pregnant Girlfriend on my Life Insurance Policy ?
As above - UK Insurance rules state there must be an insurable interest between yourself and girlfriend to add her to your life insurance policy.
Can a Pregnant Girlfriend be my Life Insurance Beneficiary ?
Yes she can - if you wish to. Either your Pregnant Girlfriend can own your life insurance plan directly; classed as life of another [ see comments above re Insurable interest ]. Note hwoever if you split up though this can cause issues with the insurer having to undue this arrangement & may require additional legal costs by you seeking specialist advice. The alternative is to put the policy into trust where your Girlfriend is either one of or the sole beneficiary.
Can your Pregnant Girlfriend be a Trustee on my Life Insurance Policy ?
Yes she can - if you wish to. If you put the policy into trust where your Girlfriend is either one of, or the sole beneficiary. Either she can be sole Trustee or have 2 Trustees ideally. Note again, if you split up though this can cause issues with the insurer having to undue this arrangement & may require additional legal costs by you seeking specialist advice.
Being pregnant as either married couple, in a relationship or common law marriage means you may not appreciate the legal implications for Insurance. Likewise the various challenges that may come looking after loved ones if they are critically ill or die; Let trying to get life insurance hopefully not be another great challenge. Either way please approach us for friendly Professional Help.
LIFE INSURANCE POLICY WHILST PREGNANT - PRODUCTS REVIEW
MORTGAGE PROTECTION - if Pregnant
Designed to cover a repayment mortgage on death or critical illness as it decreases during the plan term.
LIFE INSURANCE - if Pregnant
Offering a family protection lump sum if the policy holder dies or is diagnosed with a terminal illness during the term or whole lifecover. Policies can be made joint or seperate.
FAMILY INCOME BENEFIT INSURANCE - if Pregnant
CRITICAL ILLNESS LIF INSURANCE - when Pregnant
Helps ease financial worries if you are diagnosed with a critical illness as specified by the Insurance Company.
CHILDREN'S CRITICAL ILLNESS COVER
Helps ease financial worries if your child once born is diagnosed with a critical illness as specified by the Insurance Company. You can look to take out this policy whilst pregnant.
INCOME PROTECTION - when Pregnant
Providing security by way of an income if you are off sick or have an accident. Insurers may adjust the terms if you are not working to a houseperson's benefit.