{"id":5414,"date":"2021-01-13T10:00:45","date_gmt":"2021-01-13T15:00:45","guid":{"rendered":"https:\/\/termlite.ca\/?p=5414"},"modified":"2025-11-20T02:20:59","modified_gmt":"2025-11-20T07:20:59","slug":"all-you-need-to-know-about-applying-for-life-insurance-while-pregnant","status":"publish","type":"post","link":"https:\/\/cms2.dmatrixsoft.com\/termlite\/all-you-need-to-know-about-applying-for-life-insurance-while-pregnant\/","title":{"rendered":"All you need to know about applying for life insurance while pregnant"},"content":{"rendered":"<p>While pregnant, you will get lots of advice about how to operate with no sleep and deal with your baby\u2019s recurrent crying. But you will likely not hear much about life insurance\u2026 and that is why we are here to help you!<\/p>\n<p>Welcoming a new human being into this world isn\u2019t easy. While it is synonymous with happiness, love, and a new sense of purpose, <strong>it also represents a huge challenge<\/strong>, especially for first-time parents.<br \/>\nIf that is your case, you know exactly what we are talking about: sleepless nights, constant worry, and fear of not providing all the security and opportunities the little one deserves.<\/p>\n<p>While life insurance won\u2019t magically make you fearless (or, for the matter, sleep better at night), it will surely present you with some peace of mind. How? By ensuring that your little one <b>will always be financially safe<\/b>, no matter what life throws at you or your family.<\/p>\n<p>If you are not exactly sure how this all works and how you can apply for life insurance while pregnant, keep reading this article! We will give you<strong> all the relevant information to guide you in this important decision.<\/strong><\/p>\n<h2>What is life insurance?<\/h2>\n<p>Let\u2019s start with the basics.<\/p>\n<p>Life insurance is a financial product that, in exchange for a monthly premium, pays a death benefit if the person insured passes away. Your beneficiary (or beneficiaries) can <b>use the benefit money for whatever purpose they choose.<\/b><\/p>\n<p>There are currently two main types of life insurance in Canada: term life insurance and permanent life insurance. The first <b>provides coverage for a specific period<\/b>, known as a <i>term<\/i>. Lengths of 5, 10, 20 or 30\u00a0 years are the most common and popular ones, depending on each individual\u2019s need. By paying a monthly premium to the insurance company, you and your loved ones will have protection for the policy\u2019s entire duration.<\/p>\n<p>On the other hand, a permanent life plan, as the name suggests, <b>protects you throughout your entire life.<\/b> Depending on the policy, it can even allow you to build cash value over time.<\/p>\n<h2>How does life insurance benefit a growing family?<\/h2>\n<p>Applying for a life insurance policy is one of the best ways to <b>protect your growing family's finances.<\/b> From kindergarten to college, you want to ensure your baby has the best in life - even if something unexpected happens to you. Guaranteeing that isn't easy, especially considering that your family would lose your income.<\/p>\n<p>However, if you have a life insurance policy, <strong>everything's different.<\/strong><\/p>\n<p>As we already explained, a life insurance policy pays the beneficiary (or beneficiaries) a lump sum payment if something happens to the insured person. <b>This money can be for all sorts of things<\/b>: cover college expenses, pay off old debts, a mortgage, car loans, and so on.<\/p>\n<p><b>As for the beneficiary, it can be whoever you decide<\/b>: your husband, wife, mother, best friend, or even your child. Just keep in mind that if the beneficiary you name is under the legal age when you die, you will need to set up a trust and designate a trustee or administrator. This person can hold the proceeds of the death benefit on behalf of the minor until he reached adulthood.<\/p>\n<p>To assess whether a policy is right for you and your growing family, you must consider four essential factors: <b>debts, income, mortgage, and education (known as the DIME formula).<\/b> Considering these elements and your household's current situation (and future plans) can give you many clues about the perfect policy for you.<\/p>\n<h2>Do both parents need insurance?<\/h2>\n<p><b>The short answer is <\/b><b><i>yes<\/i><\/b><b>.<\/b> Although people tend to assume that only the family's breadwinner needs life insurance, the truth is that both parents can benefit from it.<br \/>\nTo begin with, the term<i> breadwinner <\/i>isn\u2019t as common today. In most Canadian homes, both parents are working professionals, contributing to the family's financial sustainability. Further than that, if you consider how much it costs to raise a child in Canada, having <strong>a back-up plan that includes both parents can mean a great deal.<\/strong><\/p>\n<p>According to <a href=\"https:\/\/www.canadianliving.com\/life-and-relationships\/money-and-career\/article\/how-much-does-it-cost-to-raise-kids-in-canada\">Canadian Living<\/a>, the average cost of <b>raising a child to age 18 is a whopping $243,660.<\/b> As such, even a stay-at-home parent who doesn't have an income but provides services such as childcare should have coverage.<\/p>\n<p>Just think about it: if something happens to you or your partner and both are covered, the other won't need to<b> dip into savings or even go into debt<\/b> to maintain the family's standard of living. And we are not only talking about day-to-day living expenses. When there is a baby on the way, you have to consider other costs such as diapers, food, formula, clothes, and other larger bills like childcare, health insurance, or school tuition.<\/p>\n<h2>Can you apply for life insurance while pregnant?<\/h2>\n<p>Of course! Getting a life insurance policy during pregnancy is quite normal in Canada. However, here is something you should keep in mind: it is advisable that you <b>do so during your first or second trimester.<\/b> This is because the further into your term, the harder it might become to get coverage.<\/p>\n<p>If you suffer from pregnancy complications (such as gestational diabetes), life insurance companies might present you with higher premiums <b>or even deny you coverage altogether<\/b>.<\/p>\n<p>But here is our tip: even if you are charged more during pregnancy for health concerns, <strong>having some coverage in place is better than none.<\/strong> Life is unpredictable, so it is better to be prepared, even if the circumstances are not ideal. After your pregnancy, if your premiums are too elevated, you can always reapply for coverage.<\/p>\n<h2>Will pregnancy affect your medical exams?<\/h2>\n<p>If you are applying for life insurance while pregnant with a company that requires medical exams, it <b>can affect your results and, as such, your eligibility<\/b>.<\/p>\n<p>Like we have already stated, gestational diabetes is common in many pregnant women, just like increased cholesterol or elevated liver enzymes. These conditions <b>can significantly affect your rates<\/b>, especially if you are older than 40 years old, carry more than one baby, or have a high-risk pregnancy. In fact, you can even see your application denied for these reasons.<\/p>\n<p>As a side note, life insurance exams <b>do not conduct pregnancy tests.<\/b> The medical examiner will ask if you are pregnant, and of course, you should always answer honestly to avoid future problems.<\/p>\n<p>If you are worried about your chances of getting life insurance while pregnant, you can consider applying for a no medical policy. As the name indicates, no medical life insurance is a type of life insurance policy that you can purchase <b>without having to undergo a medical examination.<\/b> These plans are easier and less time-consuming to get, but, many times, they are also more pricey.<\/p>\n<h2>Is it better to get insurance after the baby is born?<\/h2>\n<p>Getting insured <i>before<\/i> you even get pregnant is probably the smartest choice. After the baby is born, your eligibility for affordable coverage greatly <b>depends on how healthy you are<\/b>.<\/p>\n<p>Like many Canadian mothers, you may experience complications during pregnancy or after labour that<b> fall on the list of \u201cpre-existing conditions.<\/b>\u201d Considering that most companies ask you to undergo medical exams and health questionnaires to be eligible for their plans, these conditions can elevate your rates or even make it hard for you to get insured.<\/p>\n<h2>Is it ok to lie about your pregnancy when applying for an insurance policy?<\/h2>\n<p>Even if you apply online and without undergoing any medical exams, <b>you should never lie on your application.<\/b> Not about your smoking habits, age, health status or even pregnancy. Applying for life insurance while pregnant might be tough and get you higher rates, but it is never a good idea to lie on your application.<\/p>\n<p>Many people are motivated to lie about certain facts in their application in hopes of paying a lower premium or getting a less expensive policy. However, <b>lying on an application is considered fraud<\/b>, which can result in the cancellation of your plan or even in a denied claim. Honesty is always the best policy!<\/p>\n<h2>Term life insurance: a great option for young families<\/h2>\n<p>If you are a young adult about to start a family, a renewable term life policy might be<b> the perfect choice for your immediate needs.<\/b> With these policies, younger people can acquire substantial face amounts of coverage at a relatively low immediate cost, which is a great advantage for those starting a family.<\/p>\n<p>When there is a baby on the way, most parents decide to buy a term life policy covering the child until at least 18 years of age. This means that <b>a 20-year-old policy would be the most common choice<\/b>. However, if you plan on having more children in the near future or even invest in a house or a new business, it might make sense to go for a longer-term.<\/p>\n<p>Once again, the decision is very personal. Each family is different and has different needs, and that is why <b>you must assess your situation carefully before committing<\/b> to a product.<\/p>\n<p>Yet, it is important to keep in mind that term life policies <b>are usually renewable and even convertible to whole life plans<\/b>. Suppose you decide that you need more coverage or even a different type of plan at the end of your term. In that case, most insurance companies will allow you to do so, sometimes even without medical exams.<\/p>\n<h2>How TermLite can help your family<\/h2>\n<p>Thanks to our many years of experience in the life insurance business, we have developed the policies young Canadian families seek. Our term life plans are straightforward, easy to obtain, and affordable. So regardless of being pregnant, you can get the<b> insurance plan you need quickly and stress-free<\/b>. We don't require medical exams, face-to-face meetings, or endless and tedious paperwork. You just need to be a Canadian resident between the ages of 18 to 70. And that is all!<\/p>\n<p>If you wish to <b>receive a free quote from us<\/b> for your ideal term life insurance plan, you simply need to complete <a href=\"https:\/\/termlite.ca\/get-a-quote\/\">this quick form<\/a>. We would be happy to be part of this new journey in your life!<\/p>\n<p>&nbsp;<\/p>\n<p style=\"text-align: right;\">Written by Raquel Dias<\/p>\n","protected":false},"excerpt":{"rendered":"<p>While pregnant, you will get lots of advice about how to operate with no sleep and deal with your baby\u2019s [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":5465,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[126,117,134],"tags":[127,120,137,135],"class_list":["post-5414","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-family-life","category-life-insurance","category-lifestyle","tag-family-life","tag-life-insurance","tag-pregnancy","tag-tips"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v25.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Applying For Life Insurance While Pregnant - Termlite Blog<\/title>\n<meta name=\"description\" content=\"Wondering if you can apply for life insurance while pregnant? 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