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Insurance Products Every New Parent Needs

New parents have many tremendous changes coming in their lives. They are about to bring a child into the world and have much to prepare for that day. One thing important not to overlook is insurance. Insurance products every new parent needs are health insurance, life insurance, and disability insurance.

Health Insurance

Health insurance is important for new parents and for the new baby. You should have a health insurance policy when you are pregnant to cover the costs of doctor visits and check-ups. Your health insurance policy will be especially important when it comes time to have the baby because the hospital bills can be expensive. You should also get a policy for your newborn because even without complications it can be expensive. If you already have health insurance, your baby will be covered under you, but will need a policy for them after 30 days. Birth is a qualifying event so you can change your existing policy to add your new child and protect your growing family.

Life Insurance

No matter the parental situation, if one parent stays home or both work, each parent needs a life insurance policy. Both parents provide essential care for your child, so it is important to protect it. Even if you are healthy now, life insurance is good preparation in case something was to happen to one of you. While there are few different kinds, term life insurance is best for young people with better health.

Disability Insurance

This is an important, but often overlooked insurance policy. This can be often overlooked because new parents may feel that they are healthy, so they don’t need it. However, your income is especially important when you are a new parent. Your wages are how you will provide for your child and can be protected with disability insurance. This policy is important because if you get injured or sick and you cannot work, you will still be able to have a portion of your income monthly while you are recovering. Even if you don’t feel you don’t have a dangerous job, you never know when something can happen and should be protected if it does.

Preparation is key for new parents. In addition to all your preparations at home, prepare your insurance policies so your growing family can be protected. Even if you are healthy and don’t expect complications, in the event something happens you will be protected from financial hardship with smart insurance decisions.

Check out this article on the 3 pillars of physical health during pregnancy!

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