Have a Baby on the Way? Have you Purchased Term Life insurance?

Having a Baby

Life insurance, it’s probably not the first thing you think about when you have a baby on the way. When planning to start a family there are many different areas of preparation you are dealing with. You may be shopping for clothes, furniture and preparing your child’s room and all the other small details that comes with welcoming a child into the world. When it comes to term life insurance policies, many clients I speak with do not have a policy of their own. They do have coverage through their employer but sometimes that is the only coverage they have. Most do not know exactly how much life insurance coverage they have through their employer or maybe have an idea but are not sure. The first thing you want to do is confirm exactly how much life insurance you are covered for by your employer so you know exactly where you stand from a work stand point. Next, you want to understand that in most cases if you leave a company, are laid off or terminated the term life insurance coverage does not go with you.

So, as you start planning for the birth of your child, you also want to start thinking about applying for your own term life insurance policies. By applying for your own, you are setting yourself up for protection over the coming years and won’t have to rely 100% on your employer provided life insurance. In my opinion, with regards to what term length to choose, I would recommend a 20 or 30 year term life insurance policy. A term life insurance policy provides protection while your child is very young, growing up and financially dependent on you. In 20 or 30 years your financial needs will be much different than they are today.


You may have plans for your child to go to college one day. A term life insurance policy on both parents will ensure that if one parent or both passed away, that there is term life insurance money in place to help the family and provide for your child’s future needs, such as helping to pay for college.

About the author: Dan Cody has been in the life insurance business for over 7 years. He loves playing a variety of instruments including the guitar, bass, drums, and piano. He also supports cancer research foundations and volunteers at local pet shelters. Dan enjoys helping customers understand life insurance, so they can find a solid policy that fits their needs. You can reach Dan at 1-800-651-1953 or DCody@Pivot.com.