Affordable Life Insurance for an Unborn Baby

Many parents and guardians choose to purchase life insurance for their children, but expecting parents will have to wait. Unfortunately, you cannot buy life insurance for an unborn baby. However, you can purchase coverage soon after their birth.

Wondering how life insurance works for a newborn? Newborn life insurance works the same as any other life insurance policy, though most are sold as permanent plans. Usually, companies limit how much coverage you can purchase as well.

Read on to learn why you can’t purchase unborn life insurance and when you can start to buy coverage for a new baby. Then, compare quotes with as many companies as possible to find the best rates for life insurance for a baby.

Can you buy life insurance for an unborn baby?

Technically, life insurance prevents a dependent from suffering financially if a breadwinner passes away. However, unborn babies do not have dependents or an income, making the coverage unnecessary.

Although life insurance for unborn children exists in other parts of the world, known as prenatal coverage, American providers do not offer this policy.

Fortunately, stillbirth rates in America declined dramatically since the 1940s, according to the Centers for Disease Control and Prevention (CDC).

While you may hope to protect your family from loss before or during delivery, you won’t find any American provider willing to underwrite affordable life insurance for an unborn baby.

What life insurance policies should new parents consider?

Expecting parents should invest in their own life insurance coverage to best protect their children.

However, life insurance for pregnant women can be tricky to secure if you’re beyond your first trimester. 

Another option is to wait and purchase baby life insurance for your newborn. Many companies accept applications as early as 14 days.

But some financial experts warn that life insurance for babies is not always the best investment.

That said, if you can afford the premiums and it brings you peace of mind, it’s worth attaining coverage after giving birth.

Below, compare the average monthly rates for life insurance for babies and children from various providers:

• Foresters Life Insurance Company: $15.18
• Gerber Life Insurance Company: $24.70
• Globe Life Insurance Company: $10.09
• Mutual of Omaha Life Insurance Company: $14.70
• Physicians Mutual Life Insurance Company: $5.49
• Transamerica Life Insurance Company: $21.40

Keep in mind that each company sells different levels of coverage for different ages.

For example, Gerber writes policies with up to $50,000 worth of coverage. However, Globe Life policies only reach $30,000.

Regardless, none of the providers sell policies for unborn children.

Case Studies: Affordable Life Insurance for an Unborn Baby

Case Study 1: Seeking Coverage for an Unborn Child

Emily and James, an expectant couple, were eager to secure life insurance coverage for their unborn baby to ensure financial protection from potential risks during pregnancy. However, after researching available options, they discovered that life insurance for unborn babies is not offered in the United States.

Realizing that the coverage is unnecessary for an unborn child without dependents or income, they decided to focus on obtaining comprehensive life insurance for themselves to safeguard their family’s future.

Case Study 2: Evaluating Baby Life Insurance After Birth

Upon the birth of their newborn, Emma and David considered purchasing life insurance for their baby to secure additional protection for the family. They learned that baby life insurance policies become available as early as 14 days after birth.

While considering the costs and benefits, they consulted financial experts who advised them to prioritize obtaining life insurance coverage for themselves before considering coverage for their newborn. Weighing the pros and cons, Emma and David decided to focus on their own life insurance needs for now.

Case Study 3: Balancing Peace of Mind and Affordability

Sophia and Michael, new parents, were intrigued by the idea of acquiring life insurance for their newborn child to ensure security in the face of uncertainties. They found that the average cost of baby life insurance is around $15 per month, making it an affordable option for additional peace of mind.

Despite the affordability, they were cautious about the necessity of coverage for a baby without dependents or income. After carefully evaluating their financial situation, they opted to prioritize their own life insurance coverage and create a savings plan for their child’s future needs.

The best Life Insurance for an Unborn Baby is Available After Birth

Ultimately, you cannot purchase life insurance for your baby before they’re born.

Instead, invest in your own coverage to protect your future child. Or secure a policy for your newborn after welcoming them to the world.

You won’t find life insurance rates for an unborn baby, but you can secure a policy for yourself by entering your ZIP code into our free quote tool below.