Common Questions That Expecting Moms Have About Life Insurance

Thinking of life insurance is the smartest thing to do as an expectant mother. Too many times, we take insurance too lightly. Let’s take a look at some common questions that expecting mothers have about life insurance.

Question 1: What Life Insurance Policy Should I Sign up for?

Most expectant mothers seek the best life insurance available for new parents. They are always torn between either term life insurance or permanent life insurance. In reality, the former looks less costly at the beginning, while the latter is highly-priced because of its extensive coverage. Quit worrying about what type of policy to choose. More importantly, you should consider how much death benefit you will need to secure your family financially. The best thing to do is to combine a term and permanent policy. The term policy provides coverage while your kids are at home, while the permanent policy serves you for a lifetime.

Question 2: Does Being a Working or Stay-at-home Mom Make a Difference?

Yes and no. One of the reasons families do not choose the permanent policy is because it may be expensive for a family that is not making lots of money. Both working and stay-at-home moms are important to a family. While the former contributes to the income, the latter does things that are invaluable for the family. If the family earns enough to pay for premiums regardless of whether the mom stays at home or works, then the type of policy you choose doesn’t matter. If the reverse is the case, the income lost when a mom stops working must be factored into life insurance coverage.

Question 3: Will My Employer’s Life Insurance for Staff Be Enough for Me?

Usually, your employer’s life insurance policy for you is rated at twice your salary. However, this wouldn’t extend over the entire lifetime of your family. Even worse, if your job gets terminated, you lose your life insurance coverage. The bottom line is your employer’s life insurance can’t be enough for you. You’re better off having your personal life insurance policy.

Question 4: Does My Pregnancy Make Getting Life Insurance Easier?

No, it doesn’t. Insurance providers are always trying to evaluate risk and charge for premiums based on the risks they have assessed. Sadly, a pregnant woman does not make assessing the risks easier. The only way it would be easy for you is when you’re in the early stage of your pregnancy, and you have relevant hospital reports that show no complications. You’re better off buying an insurance policy when you plan to start a family.

Question 5: How Much Would Life Insurance Cost Me?

On average, you can expect to spend $250,000 for 20 years, valued at $13 per month. This is just an estimate. Your age and health status can increase the cost of your life insurance significantly. You can also choose a joint life insurance policy with your spouse.

Contact us at VGW Insurance in Texas to get all of the answers you need. We look forward to helping you with all your coverage needs.