Best Life Insurance Company That Offers Insurance While Pregnant in 2021
You can still get life insurance while you're pregnant through your third trimester. Life insurance companies that offer insurance while pregnant can be affordable and provide you and your family with financial protection in case the worst should happen. To get the best rates, shop around for quotes from life insurance companies that offer insurance while pregnant, including State Farm, SBLI, and Fidelity Life.
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UPDATED: Sep 14, 2021
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- Pregnant people can get life insurance while pregnant but pregnancy complications can increase rates
- Pregnant people or individuals trying to get pregnant can shop online to find the best insurance company
- The beneficiary of your life insurance policy should either be your partner or a legal guardian.
If you’re expecting a new member to your family, your head is likely swirling with questions about where to find affordable life insurance companies that offer insurance while pregnant.
You may even find yourself asking, “Do I need to tell life insurance I’m pregnant?” The answer is yes. Honesty is always the best policy when it comes to your life insurance company.
While the best time to get yourself a life insurance policy would be prior to becoming pregnant, you certainly can get affordable life insurance before the baby’s born.
Every mom’s guide to pregnancy life insurance will tell you that weight gain or pregnancy complications can have an effect on your rates, and you’ll find that you can get better life insurance rates from life insurance companies that offer insurance while pregnant by applying for a policy in your first trimester or sooner if you can.
Scroll down to learn how to buy life insurance from life insurance companies that offer insurance while pregnant. Enter your ZIP code above to get free quotes from life insurance companies that offer insurance while pregnant today.
What are the best life insurance companies for pregnant people?
Here you’ll find six of the best life insurance companies for pregnant people:
- Haven Life
- State Farm
- AIG Life
- Fidelity Life
Haven Life is backed by MassMutual and has an A++ rating from A.M. Best. This is a great life insurance company for pregnant people even if the online application process is a bit tedious in comparison to the competition.
The rates offered by Haven Life are nothing to sneeze at either. It’s possible for an applicant with average health to get $250,000 in coverage for about $23 a month.
State Farm is one of the most popular insurance companies in the business with a history of promptly paying out policies and providing a convenient shopping experience. It also has an A++ rating from A.M. Best.
For example, during the application process, you can compare and contrast different policy options to examine how well each one fits your needs.
The life insurance rates on State Farm’s policies can be a bit higher than the competition’s, but $250,000 in coverage can be had for about $22 per month if you are in good health.
For new parents looking to save money without compromising on coverage, AIG Life is a great choice as it tends to offer very economical prices. This company advertises that prospective clients can obtain $250,000 in coverage for only $14 per month, but life insurance quotes will vary from client to client.
AIG Life is a very reputable company with an A rating from A.M. Best, and it allows its clients to apply for quotes via the company website and file claims online in case the worst should happen.
Another excellent life insurance company, Prudential has an A+ financial rating with A.M. Best and offers various riders so its clients can customize their policies.
Prudential’s online application system also lets applicants compare rates for different policy terms. On average, an applicant gets $200,000 in coverage for about $26 per month.
SBLI advertises that applicants can get $250,000 in coverage for as low as $10 per month. With an A rating from A.M. Best, SBLI also offers flexible terms and a range of coverage amounts so you can get just want you need.
Applications for a policy can be filled out online, but you will need to speak to a representative in order to complete your application.
Now if you’re not yet pregnant but are trying to be, you may want to look into getting a policy with Fidelity Life as you can get a guaranteed issue insurance policy by simply filling out your medical history online and not have to bother with a medical exam.
But like SBLI, you won’t be able to finalize your purchase without talking to a representative and filling out a more comprehensive application.
Fidelity Life has an A.M. Best rating of B++ and is a bit more expensive than its competition; applicants could pay about $21 per month for $100,000, but if you are applying for insurance while you’re pregnant you could be looking at very different rates.
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Why does pregnancy affect life insurance rates?
When an insurance company calculates your rates, it takes into account your health risks, estimated lifespan, medical history, age, sex, weight, and hobbies.
Now, if you are pregnant when applying for life insurance, an insurance company will focus on two factors in particular:
- Weight gain
The majority of insurance companies will take your pre-pregnancy weight into account when calculating your rates, but it’s not unheard of for an insurance company to use your current weight.
Some companies will also check in with you to see if you’re putting on “normal” levels of weight during your pregnancy. If you gain more than these set levels, your rates could rise.
If you are applying for life insurance after giving birth, things will proceed a little differently. Most insurance companies will use your weight before you gave birth for the rate calculations if you have an accurate record of your previous weight.
Bearing this in mind, you should also take note that you could face higher life insurance rates if there’s evidence that you’re experiencing complications or are bearing a high-risk pregnancy.
Such factors that could affect your rates would be:
- Gestational diabetes during the current pregnancy or a previous pregnancy
- Complications in a previous pregnancy
- Elevated cholesterol levels
- Postpartum depression
- Pregnancy at 45 years old or more
When you’re looking for the right life insurance company, life insurance companies that offer insurance while pregnant will have their own nuances that impact your rates. You should always get at least three quotes when shopping online for a life insurance policy.
How can I lower my life insurance rates for pregnant people?
If you’re pregnant, you can get life insurance, and you would be wise to do so. About 700 people die every year in the United States alone as a result of pregnancy or complications during delivery.
However, you can get cheaper life insurance quotes from life insurance companies that offer insurance while pregnant if:
- You’re in your first trimester
- You haven’t experienced any complications with the pregnancy
- You don’t have any pre-existing conditions
- You didn’t have complications with an early childbirth
On the other hand, if you were to apply for a life insurance policy in your second or third trimester, the insurance company could postpone the finalization of your policy until after your baby is born.
While you do have a chance of getting your postponed policy approved, you will still have to go through childbirth without any coverage. If you can’t afford to wait for coverage, then it’s imperative that you stay away from life insurance companies that don’t offer insurance while pregnant.
Shop around for a life insurance company that offers insurance while pregnant and compare quotes from each to find the best policy for your needs.
Can I name my baby as my life insurance beneficiary?
While you certainly can name your brand new family member as the beneficiary on your life insurance policy, it’s not advisable.
If a minor receives a death benefit, the funds are assigned to a trust that a court-appointed guardian is responsible for.
Such a process can bring on legal fees and even tie up the funds, but there is a better way to make sure that your death benefit provides financial protection for your child.
The beneficiary of your life insurance policy should either be your partner or a legal guardian. This lets a responsible adult have immediate access to your death benefit so the money can be put to good use right away.
You always have the option of creating a trust which is managed by a custodian until your child comes of age. If you’re not sure which is the best plan for you, you can always consult a lawyer or a financial planner to help you.
How to Find Life Insurance Companies That Offer Insurance While Pregnant
The best time to get yourself a life insurance policy would be prior to becoming pregnant, but you can still get life insurance while you’re pregnant. You can even get life insurance in the third trimester.
If you do, be aware that weight gain or pregnancy complications can negatively affect your rates once your first trimester has passed.
You can get life insurance quotes from life insurance companies that offer insurance while pregnant like State Farm, SBLI, and Fidelity Life in addition to others right away. Enter your ZIP code below to get free quotes from life insurance companies that offer insurance while pregnant near you.