Question: I’m pregnant and thinking about applying for life insurance. My agent tells me to hold off my application until after labor. Am I being discriminated against because I am pregnant?
Answer: While many life insurance companies officially claim to be open to pregnant applicants, consumers report their own difficulties online. Insurance related websites cite the unique medical risks attributable to pregnancy, as justification for denying applications like yours.
Gestational diabetes, for example affects less than 10% of pregnant women. In most cases, it disappears after delivery. However, this is the top reason for a company to deny an application or to charge higher premiums to pregnant women. So, what are your options?
- If you are still in your 1st trimester, try applying with another life insurance company. You may get approved, but expect higher premiums. Make sure the company will allow you to re-apply after delivery. Most companies allow a 1-2 year window for re-examination and adjustment to your premium, due to a change in medical conditions.
- Wait until the baby comes. Allow 6 months to pass, to get past the highest post-partum depression risk period. Shed any lingering baby weight, too. These are two often cited reasons for high post-labor premium increases.