Month 3: Bump up your life insurance4 of 11Expecting parents should have life insurance adequate to support their new family member in the event of a tragedy. Taking care of this early in the pregnancy will ensure your family is protected through the sometimes dangerous process of birth, Lane says.Acting early also might save you cash."Some women have health issues later on in the pregnancy dealing with diabetes or other pregnancy-related illnesses, and the insurance companies might want to charge you more premium," says Lane.Both spouses need life insurance, even if one isn't currently working or plans not to return to work. If the stay-at-home parent dies, the other spouse will need additional funds to secure child care, Lane says. Related Articles:7 ways to save on baby costsTalking finances with the kidsFrugal summer fun10 hot toys for under $20Related Links:Can you afford private school?How secure is life insurance?4 ways to trim health costs today10 best work-at-home jobs advertisement
Expecting parents should have life insurance adequate to support their new family member in the event of a tragedy. Taking care of this early in the pregnancy will ensure your family is protected through the sometimes dangerous process of birth, Lane says.
Acting early also might save you cash.
"Some women have health issues later on in the pregnancy dealing with diabetes or other pregnancy-related illnesses, and the insurance companies might want to charge you more premium," says Lane.
Both spouses need life insurance, even if one isn't currently working or plans not to return to work. If the stay-at-home parent dies, the other spouse will need additional funds to secure child care, Lane says.