Should I name my children as my beneficiaries?

If your children are minors, it’s generally not advisable to name them as direct beneficiaries. Insurers won’t issue funds directly to a minor, so the death benefit would go through probate court, where a custodian would be appointed to manage the funds. This process can lead to delays and legal fees and may mean that someone else will be making decisions on how the funds are used. Instead, consider setting up a trust or naming a trusted adult as the custodian. Consulting with an estate planning attorney can help ensure your children’s inheritance is protected without unnecessary hurdles.

How do I get the lowest life insurance rates if I’m pregnant?

To secure the most affordable rates, it’s wise to apply for life insurance either before pregnancy or as early as possible during your pregnancy. The further along you are, the more likely it is that pregnancy-related factors like weight gain, blood pressure changes and other temporary health metrics may influence your premiums. Life insurance premiums can vary widely by insurer, so comparing quotes from several providers is a key step. Some insurers may consider your pre-pregnancy health more heavily, which could work in your favor. Remember, you can always reevaluate your policy later to seek better rates.

Is term life insurance or permanent life insurance for pregnancy the best choice for me?

The best type of life insurance for you depends on your life insurance goals. Term life insurance typically has lower premiums, and you can tailor a policy to last just as long as you anticipate having dependents at home. Permanent life insurance, though often more expensive, won’t expire as long as you pay your premiums and offers a cash value that you could borrow against after a few years if needed. This type of policy will also only require one medical exam and not need periodic renewal. If you’re worried about the cost of life insurance, you may consider a term policy – but if your monthly budget is less constrained, a permanent policy may offer more long-term benefits.

Does pregnancy weight gain affect life insurance costs?

Weight gain due to pregnancy may or may not affect your life insurance costs. Along with factors such as blood pressure, age and cholesterol, companies use weight to determine life insurance premiums since obesity may lead to certain health issues. If you’re applying for a life insurance policy while pregnant, the company may use your pre-pregnancy weight, your current weight or may simply determine whether or not you’ve exhibited healthy weight gain during the pregnancy. If your life insurance company plans to use your pregnancy weight to determine your premium, it will likely be cheapest to seek life insurance during your first trimester, when weight gain is minimal.

Can you get life insurance on an unborn child?

Technically, life insurance isn’t available for an unborn child. However, you can add a child rider to your policy, which typically starts coverage for your child at 15 days old. Child riders are generally affordable and can be added to your policy while pregnant or even beforehand if you’re planning a family. This rider provides a modest death benefit to help cover funeral expenses, should the unthinkable happen, and can cover all current and future children without the need for multiple policies.

Life insurance while pregnant

Written by

Ashlyn Brooks,

Edited by

Natasha Cornelius, CLU

Published on November 25, 2024 | 5 min read

Bankrate is always editorially independent. To help readers understand how insurance affects their finances, we have licensed insurance professionals on staff who have spent a combined 47 years in the auto, home and life insurance industries. While we adhere to strict , this post may contain references to products from our partners. Here's an explanation of . Our content is backed by Coverage.com, LLC, a licensed entity (NPN: 19966249). For more information, please see our . Our is to ensure everything we publish is objective, accurate and trustworthy.

digitalskillet/Getty Images: Illustration by Issiah Davis/Bankrate

Pregnant black parent with black child feeling baby kick

Key takeaways

Both parents, including stay-at-home parents, should consider life insurance coverage when expecting.
Life insurance applications are generally accepted during pregnancy, though some health factors can affect rates.
Setting up a trust or guardian arrangement for minor children as beneficiaries can ensure smoother access to funds.
A child rider on your policy can offer coverage for your child soon after birth, adding valuable protection.

Planning for a family brings both excitement and new responsibilities, and life insurance is a big one that often gets overlooked — especially for women. According to the 2024 LIMRA and Life Happens Insurance Barometer Study, only 46 percent of women report having life insurance, compared to 57 percent of men. This 11-point gender gap is the widest it’s ever been in the study’s 14-year history. That disparity leaves many families financially vulnerable should the unexpected happen.

When it comes to pregnancy, the importance of life insurance becomes even more pressing. Whether you’re planning to be the primary earner or a stay-at-home parent (yes, stay-at-home parents have a need for life insurance, too), having a policy in place offers a vital layer of financial security for your family. Here’s what expecting parents should know to help protect their family financially.

Compare life insurance providers quickly and easily

See which provider is right for you.

Age

Please select age

Coverage amount

Please select Coverage amount

Policy type

Please select Policy type

ZIP Code

Your information is secure

Advertising disclosure

This advertisement is powered by Coverage.com, LLC, a licensed insurance producer (NPN: 19966249) and a corporate affiliate of Bankrate. The offers and links that appear on this advertisement are from companies that compensate Coverage.com in different ways. The compensation received and other factors, such as your location, may impact what offers and links appear, and how, where and in what order they appear. While we seek to provide a wide range of offers, we do not include every product or service that may be available. Our goal is to keep information accurate and timely, but some information may not be current. Your actual offer from an advertiser may be different from the offer on this advertisement. All offers are subject to additional terms and conditions.

Insurance disclosure

Coverage.com, LLC is a licensed insurance producer (NPN: 19966249). Coverage.com services are only available in states where it is licensed. Coverage.com may not offer insurance coverage in all states or scenarios. All insurance products are governed by the terms in the applicable insurance policy, and all related decisions (such as approval for coverage, premiums, commissions and fees) and policy obligations are the sole responsibility of the underwriting insurer. The information on this site does not modify any insurance policy terms in any way.

View rate

Why Lemonade? It's a fresh twist on life insurance: easy, accessible and affordable.

See more providers in

Choose from insurers in

Can you get life insurance while pregnant?

Yes, it’s entirely possible to get life insurance while pregnant, but it’s important to understand that pregnancy is often treated as a pre-existing condition by insurers. Just like with other health factors, your pregnancy can influence the approval process, coverage options and even the rates you’re offered.

Underwriters may look at specific health indicators related to pregnancy, such as gestational diabetes, preeclampsia or other pregnancy-related conditions. While a healthy pregnancy may not impact rates much, certain health complications could lead to higher premiums or even postponed approval until after delivery.

Being transparent with your insurer is essential. Disclosing your pregnancy and any related health conditions during the application process not only helps ensure a smooth approval but also safeguards against potential issues down the road, like complications during the policy’s contestability period.

When to apply for life insurance if you’re pregnant

Ideally, the best time to apply for life insurance is before you become pregnant. Insurers typically consider pregnancy a medical condition, which may impact your premium rates. Securing life insurance ahead of time can lock in lower rates, especially if you’re in good health. However, if you’re already pregnant, applying early in your first trimester is typically the best option, as pregnancy-related health factors are usually less likely to affect your application at this stage.

If you encounter any complications, such as gestational diabetes or high blood pressure, your insurer may suggest waiting until after you’ve given birth and your body has had time to recover. However, given the importance of life insurance for parents, it can be wise to accept a policy even if it means higher premiums temporarily. Once you’re past the postpartum period, you may be able to reapply or request a rate review to see if you can qualify for lower rates based on your improved health.

How pregnancy impacts life insurance rates

Pregnancy can affect life insurance rates in different ways, depending on the insurer and your health profile. Common changes during pregnancy — such as elevated blood pressure, higher cholesterol and weight gain — are expected, especially in the later trimesters. However, if you have a history of consistently healthy blood pressure, cholesterol and weight before pregnancy, insurers will typically take that into account, which may help in your underwriting evaluation.

Other factors, however, may increase the risk assessment for insurers. These include age, particularly for those experiencing a “geriatric” pregnancy (typically defined as age 35 or older), previous pregnancy complications or being pregnant with multiples, like twins or triplets. Each of these can add layers of risk, which insurers factor into their premium calculations.

When it comes to weight, insurers vary in their approach. Some assess only your current weight, others look at your pre-pregnancy weight and some take an average of the two. This variability makes it beneficial to shop around and compare options, as some insurers may offer more favorable rates based on how they evaluate your specific situation.

Choosing a beneficiary when you are pregnant

Many parents name their spouse or partner as the beneficiary of their life insurance. If you were to pass away, your spouse or partner may be the most likely person to whom parenting responsibilities — and thus an increased financial strain — will fall. Giving your partner the death benefit of your policy may help ensure that they are able to care for your child without a significant financial burden.

You can also name your child (or children) as your beneficiaries, but naming minor children as your heirs can lead to legal complications. Instead, you can designate a trusted legal guardian who will ensure that your children benefit from your life insurance policy if both you and your partner are gone. As part of their duties, the guardian can oversee the payout from your policy and care for your children until they reach legal age, which is 18 in most states.

For even more control over how the benefits are used, you might consider setting up a trust. A trust can manage the life insurance proceeds for your child’s benefit, allowing you to specify how and when the funds should be accessed. For more information, consider consulting a local estate planning attorney to discuss whether a trust is the right option for your family.

How to customize your insurance coverage if you are pregnant

When choosing life insurance during pregnancy, start by selecting the type of policy that best meets your family’s needs. There are two primary options: term and permanent life insurance. Both can be customized, though they differ in their coverage duration, cost and the additional options available.

Term life insurance

Term life insurance provides coverage for a set period, such as 10, 20 or 30 years, making it a more affordable option. The term length you choose should ideally align with major life goals, like covering expenses until your child reaches adulthood or paying off a mortgage. If you’re planning to stay home with your child, term insurance can help replace lost income or financial contributions during those years. Once the term expires, you may have the option to renew or convert to a permanent policy, though the premiums may increase with age.

Permanent life insurance

Permanent life insurance offers lifelong coverage, lasting as long as you pay the premiums and typically up to a coverage age of 95 to 121. This option may appeal to those looking for a policy that builds cash value — a savings-like component that grows over time and can be accessed for future expenses, like education costs.

Permanent policies come in a few varieties:

Whole life insurance: Provides consistent premiums, guaranteed death benefits and cash value growth at a fixed rate.
Universal life insurance (UL): Offers flexible premiums and death benefits, with cash value that grows based on interest rates or other investments.
Variable life insurance (VL): Allows investment of the cash value in stock and bond subaccounts, offering growth potential but also risk, as cash value can fluctuate with the market.

Each type has distinct benefits and considerations, so it’s wise to review them with an insurance professional to understand how they align with your goals.

Additional customization: Choosing riders

Many life insurance policies allow you to add riders, or policy enhancements, to tailor coverage further. Some riders are included at no extra cost, while others may require an additional premium. Here are a few common riders that might be especially relevant for expectant parents:

Child rider: Provides a small death benefit to help cover funeral costs if your child passes away, offering some financial peace during a difficult time.
Waiver of premium for disability: Waives premium payments if you become disabled and are unable to work, ensuring your coverage continues even if income is temporarily impacted.
Accidental death benefit: Increases the death benefit if you pass away due to an accident, providing extra security.
Critical or chronic illness rider: Allows you to access a portion of your death benefit if diagnosed with a serious illness, which could help cover unexpected medical costs.
Accelerated death benefit: Allows you to access a portion of your death benefit if you’re diagnosed with a terminal illness, helping with medical expenses or other needs.

Frequently asked questions

If your children are minors, it’s generally not advisable to name them as direct beneficiaries. Insurers won’t issue funds directly to a minor, so the death benefit would go through probate court, where a custodian would be appointed to manage the funds. This process can lead to delays and legal fees and may mean that someone else will be making decisions on how the funds are used. Instead, consider setting up a trust or naming a trusted adult as the custodian. Consulting with an estate planning attorney can help ensure your children’s inheritance is protected without unnecessary hurdles.
To secure the most affordable rates, it’s wise to apply for life insurance either before pregnancy or as early as possible during your pregnancy. The further along you are, the more likely it is that pregnancy-related factors like weight gain, blood pressure changes and other temporary health metrics may influence your premiums. Life insurance premiums can vary widely by insurer, so comparing quotes from several providers is a key step. Some insurers may consider your pre-pregnancy health more heavily, which could work in your favor. Remember, you can always reevaluate your policy later to seek better rates.
The best type of life insurance for you depends on your life insurance goals. Term life insurance typically has lower premiums, and you can tailor a policy to last just as long as you anticipate having dependents at home. Permanent life insurance, though often more expensive, won’t expire as long as you pay your premiums and offers a cash value that you could borrow against after a few years if needed. This type of policy will also only require one medical exam and not need periodic renewal. If you’re worried about the cost of life insurance, you may consider a term policy – but if your monthly budget is less constrained, a permanent policy may offer more long-term benefits.
Weight gain due to pregnancy may or may not affect your life insurance costs. Along with factors such as blood pressure, age and cholesterol, companies use weight to determine life insurance premiums since obesity may lead to certain health issues. If you’re applying for a life insurance policy while pregnant, the company may use your pre-pregnancy weight, your current weight or may simply determine whether or not you’ve exhibited healthy weight gain during the pregnancy. If your life insurance company plans to use your pregnancy weight to determine your premium, it will likely be cheapest to seek life insurance during your first trimester, when weight gain is minimal.
Technically, life insurance isn’t available for an unborn child. However, you can add a child rider to your policy, which typically starts coverage for your child at 15 days old. Child riders are generally affordable and can be added to your policy while pregnant or even beforehand if you’re planning a family. This rider provides a modest death benefit to help cover funeral expenses, should the unthinkable happen, and can cover all current and future children without the need for multiple policies.