Expecting a Baby? Your Insurance Checklist

A new baby is both a joyful milestone and a significant increase in long-term financial responsibility — and most maternity-related insurance decisions need to happen well before delivery, since maternity cover almost always has a waiting period.

Before delivery

• Check whether your health policy includes maternity cover, and confirm the waiting period has already been served — most policies require 2-4 years of continuous cover before maternity benefits apply.
• If you don't have maternity cover and are already pregnant, it's typically too late to buy it for this pregnancy — but worth planning ahead for any future pregnancy.
• Understand your policy's newborn cover — many policies automatically cover the baby for a short initial period (e.g. 90 days) before requiring the baby to be added as a separate member.

After the baby arrives

1. Add your baby to your health insurance policy within the insurer's specified window (commonly 90 days) to avoid a gap in cover.
2. Increase your term insurance cover — a child usually increases the income replacement your family would need.
3. Start thinking about a dedicated child education/goal-based savings plan, separate from your pure protection insurance.
4. Update your nominee and will to reflect your child as a beneficiary or dependent, as appropriate.

Frequently asked questions