Pregnant woman holding a paper heart with the Ladder logo

Pregnant and Applying for Life Insurance? Here’s What You Need to Know

By Christina Baldwin, Underwriter @ Ladder and Teddy Hess, Head of Customer Experience @ Ladder

Preparing for the arrival of a new baby is an exciting time often filled with plenty of questions like: “What color should I paint the nursery?” Or “Do I really need a swing AND a bouncy seat?” While we can’t answer if yellow walls keep babies awake or if swinging helps them sleep, we can answer questions you may have about applying for life insurance while pregnant. Here are some of the most asked questions we get from customers who are expecting:

Can I apply for life insurance while I’m pregnant?

It’s a common misconception that you shouldn’t apply for life insurance when you are pregnant. 

Applying for life insurance before your baby is born and your days get busier is a great idea. 

The application process won’t be different just because you’re pregnant. It can take as few as 5 minutes to ensure your family has the protection they need.

Will my life insurance cost more because I’m pregnant?

We understand your body goes through a lot of changes while you are pregnant. We won’t hold that against you. 

Letting us know you are pregnant helps us price your policy accurately. During the application process we’ll ask for your pre-pregnancy weight and make allowances for weight gained during pregnancy. If an exam or lab tests are needed to complete your application, we’ll adjust our review to accommodate for the changes in blood pressure or lab results that naturally occur during pregnancy. 

If your pregnancy has complications, we’ll do our best to work with you to gather details so we can make a decision on your application.

Do I really need coverage if I don’t earn as much as my partner or if I’m planning to be a stay at home parent?

Just because you may not be the primary earner or do not have personal income doesn’t mean you don’t provide financial value to your family. 

Life insurance gives your family peace of mind. If anything happens to you, they can have financial security knowing day to day activities like childcare, education, and running a household can be maintained. Becoming a parent is priceless, and life insurance can be a gift to your family during difficult times.

Who should I make my beneficiary and should I include my baby?

Choosing a beneficiary is a matter of personal preference. Many people list their spouse or children; others list a family member that would take care of their children or a legal trust.

Generally, life insurance funds will not be paid directly to a minor. If you are choosing a child, it is important to consider selecting a financial custodian as well. If a custodian is not provided, a probate court assigns a financial guardian until the child is of an age where they can receive the funds. 

The beneficiary choice you make during the application process doesn’t have to be the one you stick with. You can update the beneficiary on your account page if your preferences change.

Still have questions?

Figuring out what a crying baby wants can be hard, but at Ladder we can at least make life insurance simple. Try our calculator to figure out how much coverage you need. You can also contact us with any other questions.