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Three Reasons To Have Life Insurance Before Your First Child Is Born

There are many things to consider before having your first baby. One of them is insurance.

If you don’t have a life insurance policy but plan to have a baby in the next year or the following years, this is a good time to consider life insurance.

As quoted from Business Insider, here are reasons to have life insurance early.

The possibility of low rates

The way insurance works is that the younger and healthier you are, the cheaper the rate will be.

In general, everyone’s health will decrease with age. The longer you wait to make an insurance policy, the greater the fees will be charged.

If you are already pregnant and you are the backbone of the family, it is still possible to have life insurance now. Although it is better you undergo a medical examination before or after pregnancy.

One partner lives at home

If you decide one does not work or does not have a fixed salary, it’s time to get life insurance.

Start by choosing the sum insured for one year, two years or more from your income.

The amount of coverage does not have to be perfect forever, but you are better than having no insurance at all.

Prepare for emergency planning

Most parents choose to leave a legacy for their children or partners. But for those who are still young, to make formal insurance is usually not included as a top priority.

Though it must be remembered if life insurance can act as a substitute for previous years, or without limits if you have a permanent policy.

Because anyone who is referred to as a beneficiary in an insurance will get all the benefits such as death, and also free of income tax.