Life Insurance & Pregnancy: 7 Tips for Mums-to-be on Finding the Best Life Insurance

February 5, 2015 by Georgina El Morshdy

shutterstock_138522476 (2)As a mum-to-be, I’m quite sure that sorting life cover isn’t top of your priority list.

No doubt, you’re far more concerned about choosing a buggy, buying teeny tiny clothes, or selecting the perfect crib and cot.

As so you should!

After all, when you’re pregnant, preparing for your baby is a special time – especially when it’s your first. From shopping for baby clothes to preparing the nursery, you can feel the excitement build as you await the arrival of your little one.

That said whilst it’s essential to sort out all the bits and bobs you need to welcome baby into the world, organising your finances is important too.

And that’s why I encourage you to add sorting life insurance to your list.

And to help, here are seven top tips to ensure you get a cracking deal:

1. Get insured before baby arrives

You don’t have to wait for your baby to arrive before you take out life insurance. In fact, the sooner you do it, the better. In fact, more and more women are looking at protecting their family before they become a mum. And let’s be honest, when you’re caught up in feeds, endless nappy changes, and lack of sleep, buying life insurance is probably the last thing on your mind!

In addition, if you’re fit and healthy right now, you can get cover with far fewer complications. That’s because if you do develop common pregnancy-related conditions such as anaemia or a urinary tract infection, according to Endsleigh, “it is standard procedure for a company to postpone the application until after your baby is born just to make sure that the condition doesn’t pose any other complications.”

Sion John (Financial Adviser at Harris John Financial) agrees. He advises:

“There’s no number of weeks before or after pregnancy that life insurance companies won’t consider you for cover. However, as complications such as high blood pressure and anaemia are more likely during the later stages of pregnancy, it may be better to get it in place sooner rather than later. If you leave it too late, complications caused by pregnancy can result in higher premiums or declining of cover until after the birth.

2. Get it FREE!

That’s right! You can get £10,000 of FREE life insurance with AVIVA’s of free parent life cover. There are some restrictions to this benefit. For example:

  • Your baby must be less than a year old when you apply
  • Cover expires on their first birthday
  • You can only apply after the birth of your little one

In addition, there are some medical exemptions – but you can see all the details here.

One important consideration to bear in mind with this offer is that £10,000 is actually not a large amount of cover.

And that’s why my third tip is to

3. Get it right!

You see, the AVIVA cover only lasts until your child’s first birthday. So whilst this offers a small amount of protection, it’s insufficient to give you total peace of mind that your family’s financial future would be secure in the event of your death.

As a result, it’s well worth seeking life cover for a higher amount and for the longer term. And when you see how much this could cost, I think you’ll agree it’s well worth the investment

4. Get it cheap

Did you know that you can get life cover from as little as £5.10 a month? In fact a 30 year old could get £100,000 life cover for this price.

Prices do vary by provider, and your age (along with medical history and other factors) will determine your monthly premium. But take a look at the following price table.

This is for £100,000 of life cover on a fixed term policy for a 30-year-old (comparison correct as of 31st October 2014).

Insurer

Monthly premium

Ageas £5.10
AEGON Scottish Equitable £5.91
Zurich £6.00
AVIVA £6.16
Legal & General £6.49
LV= £6.69
Bright Grey £7.06
PruProtect £8.00

5. Get cover for the kids

Interestingly, when it comes to life insurance you can also insure your children.

PruProtect is a good example of this. That’s because as an optional extra, you can add on serious illness cover for your children. Now I know that no one wants to think about his or her children suffering from a serious illness, but with this additional cover you can get a little extra help. What’s more, the cover is not as expensive as you might think.

Here’s an example for a 30-year-old non-smoker with two children (aged 5 and 8) to give you an idea of potential costs:

  • A £20.13 monthly premium gives you £48,000 of whole of life cover,
  • An additional £1.61 per month offers £10,000 serious Illness cover per child
  • Creating a TOTAL monthly premium of just £21.74 per month

6. Get it with FREE stuff!

If you want to take insurance with PruProtect, simply join the Vitality Plus scheme for an additional £4 a month and you can enjoy a host of additional benefits including free cinema tickets, half-price gym membership and stacks of other goodies. See, life insurance doesn’t have to be all doom and gloom!

Check out these six other reasons why the team at Life Insurance 4 Mums LOVES PruProtect.

7. Get it here!

Insurer Premium
Ageas £2.22
Vitality £2.44
LV+ £2.54
L&G £4.55
HSBC £33.76

It takes around 60 seconds to complete. In turn, you can search the whole market and receive free quotes and expert advice. Simple.
Finally, if you want to get the best deal on your life insurance, let Life Insurance 4 Mums help. Instead of trawling the internet for different prices, simply complete the requirements form and get a quote.

To get started, simply visit Life Insurance 4 Mums.

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1 Comment

  1. Ageas life insurance
    November 27, 2015 at 7:15 am · Reply

    Before signing up for a life insurance policy you’ll need to consider that premiums costs vary from person to person. Health profile plays a big role – premium costs can go up significantly if you smoke.Insurance broker London, Critical Illness Insurance Policy UK, Free Parent Life Cover, Funeral Plans UK, Income protection insurance UK, Life Insurance, Mortgage Cover uk, Insurance Agent, Brightlife cover.

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