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Baby Insurance Policy Question & Answers

2014 March 11
by Sarah Fields

Donald asks…

When a woman has a newborn baby is it automatically under the mothers insurance while in the hospital?

Or do I need to get the baby it’s own insurance policy before it’s born? Meaning if the baby needs newborn care or tests will my insurance pay for it?

Sarah Fields answers:

Technically the baby won’t have insurance until you give them babies info. However, as long as you notify them in a timely manner (30-60 days depending on the company) the insurance will be retroactive and s/he will be covered from birth.

Paul asks…

How old do babies have to be to be covered by life insurance policies?

Gerber’s life insurance policy says 14 days old. Are there other insurance companies with different ages?

Sarah Fields answers:

Gerber is the most widely known child life insurance there is. You can’t start the purchase PROCEDURE until the child is born, and you have a birth date. And the actual procedure, normally takes four to eight weeks.

I don’t know of any insurance company that can get a baby insured sooner.

Sandy asks…

What are the best life insurance for my baby? How do I get started?

I am a single mom and I want to put up money for my baby‘s future. I have seen a lot of highly commercialized insurance policy but I doubt them. I am also thinking of just opening a separate bank account. I try my best not to spend the money I set aside for her but when times are tough, I usually end up using it. I also want to know how to get started. Thanks! I will really appreciate your help.

Sarah Fields answers:

Putting up money for baby’s future, is SAVINGS. Life insurance, is for FUNERAL planning. They are COMPLETELY different things. Life insurance is a CRAPPY savings tool.

The best LIFE insurance, would be a rider on YOUR life insurance policy – it will cost maybe $1 a month. The best SAVINGS, would probably depend on how MUCH money you want to put away for her, per month – maybe a mutual fund, maybe that savings account.

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