Congratulations – you’re expecting! While you may have a lot of new things to consider, life insurance in Valatie, NY is one of them. To protect your growing family, you may have many questions about life insurance now you’re pregnant. To help you figure out what coverage you need, take a look at the common questions expecting mothers have.
Life Insurance for Expecting Mothers
Do I need permanent or term life insurance?
Term insurance covers you for a set period of time, such as 10 or 20 years, whereas permanent coverage covers you for your whole life. Before deciding on which one is right for you, you should work out how much death benefit your family would need. While term insurance is cheaper, it doesn’t last as long as whole life coverage. If you want to build up a cash value that you can then borrow against, then a whole life insurance policy is the way to go.
I get life insurance through work – Isn’t that enough?
Group life insurance is a great benefit to have, but it’s limited in a number of ways. It often only covers one or two times your salary, when your family may need four or five times your income. Secondly, when you leave that job, you lose that coverage. It’s worth taking out your own insurance policy to remain properly protected.
Are there any restrictions now I’m pregnant?
If it’s early in your pregnancy and there are no medical complications, you should be able to pick up life insurance easily. If you are further along or have some medical issues, you may struggle to secure coverage. If this is the case, the life insurance company may want to wait until after your child is born.
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