Author: Dot Piper

If you’re planning a pregnancy or are newly pregnant, may we congratulate you? Naturally, your mind may be filled with all manner of things, from your first scan-date to how to choose a suitable, up-to date name without upsetting the excited grandparents-to-be. Dare we ask, have you thought about insurance?

If you choose to take out life insurance, then without a doubt, the right time is before you become pregnant. Once into the pregnancy it may become very much more difficult to be accepted by insurers. Particularly with a first pregnancy, you never know what complications might arise. Whilst the vast majority of pregnancies proceed without any complications whatsoever, some conditions can crop up, such as gestational diabetes or high blood pressure, which insurers would consider as a greater risk. If cover is offered once one of these problems is diagnosed, the premium could be raised by up to 50%. If this happens it may be a good idea to accept the increased cost and change to a more economical policy when the baby is a few months old.

There are some cases where women have applied for cover after experiencing problems, only to be told that the will only be accepted after the child is born and everything is fine. One insurer told us that as lifestyles change and women are starting their families after they have reached their mid-thirties it is increasingly likely that they will delay cover until after the birth.

In the case of a single parent, you are going to have a tiny individual totally dependant on you. In the event of your death, it is doubly important that provision has been made for the care of that child, both personally and financially.

For two-parent families, whilst the pressure is less, it still makes sound sense to cover for the financial implications of bringing up a family single-handed. There is a case for arranging separate life cover and the cost of two single policies would be only minimally more expensive. As an example:

· Level term assurance, over 25 years, for a couple aged around 30, would cost around £16 per month for £150,000 worth of cover. The policy would pay out on the death of the first partner.
· The male partner taking out the policy over the same term would pay £10 per month and the female partner would pay £8.
· These figures assuming that both are non-smokers.

That’s a cost of £2 per month more, but both partners are covered. There’s also a lot more flexibility in arranging single life policies in that if one of the couple earns considerably more than the other they are able to arrange insurance for a higher sum, in order to maintain the standard of living of the family, should the worst happen.

It’s a sensible step to arrange your insurance prior to your first pregnancy for another reason too. Should you be diagnosed with a condition which would upset your insurers, you’d be covered for subsequent pregnancies as your insurance is for life.

So, log on to the internet and see what the brokers can offer you. You’ll only have one lot of form-filling to do and they’ll come up with a range of deals to suit your circumstances. The internet discount may come in useful too. Now, having got that out of the way, which website offers advice on naming the baby?

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