Best Life Insurance for an Unborn Baby in 2024 (10 Standout Companies)

When choosing the best plan, it’s important to consider affordability, coverage, and financial strength. These three providers stand out for their reliable policies, ensuring peace of mind for expectant parents.

Our Top 10 Company Picks: Best Life Insurance for an Unborn Baby

State Farm and Mutual of Omaha also offer solid options, providing families with flexible plans and comprehensive protection. When choosing coverage, these three companies provide the best combination of price, quality, and peace of mind for your growing family. Enter your ZIP code above in our free tool to start seeing quotes today.

Wondering how life insurance works for a newborn? Newborn life insurance works the same as any other life insurance policy, though most are sold as permanent plans. Usually, companies limit how much coverage you can purchase as well. Many parents and guardians choose to purchase life insurance for their children, but expecting parents will have to wait. Unfortunately, you cannot buy life insurance for an unborn baby.

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#1 – AARP: Top Overall Pick

Pros

• Affordable Rates: AARP offers the best life insurance for an unborn baby starting at just $33 per month, making it an ideal choice for budget-conscious families.
• Top-Rated Coverage: With an A++ rating, AARP ensures reliable and trusted policies to protect your growing family.
• Whole Life Options: Their whole life policies provide lifetime coverage and build cash value, perfect for long-term planning.

Cons

• Limited Policy Types: AARP focuses mainly on whole life policies, which may not suit families seeking term options for the best life insurance for an unborn baby.
• Age Restrictions: AARP policies may have stricter age limits compared to other providers, limiting options for newborns. Explore our guide, “AARP Life Insurance Company Review” For further details.

#2 – State Farm: Best for Child Riders

Pros

• Customizable Plans: State Farm lets you add child riders, so you can easily adjust your plan to fit your family’s needs and ensure your unborn baby has the right coverage.
• Affordable Rates: With prices starting at $30 a month, State Farm provides great coverage options that won’t break the bank, making it easier to protect your family.
• Great Customer Service: Known for being helpful and responsive, State Farm’s team is there to guide you and make sure you find the best life insurance for your baby.

Cons

• Limited Discounts: Bundling policies can save money, but State Farm’s discounts aren’t as big as some competitors, which might be a drawback for some families.
• Higher Costs for Add-Ons: Adding extra features like child riders can increase your premium, making it less budget-friendly for families needing more coverage. Take a look at our guide, “State Farm Life Insurance Review” to learn more.

#3 – Mutual of Omaha: Best for Term Options

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Pros

• Flexible Term Options: Mutual of Omaha life insurance guide has a term life insurance that grows with your family and adapts as your needs change, making it a great pick for the best life insurance for an unborn baby.
• Affordable Rates: Starting at just $32 a month, their plans offer solid coverage for your baby without breaking the bank.
• Trusted Reputation: With an A+ financial rating, Mutual of Omaha is a reliable and trusted choice for your family’s future.

Cons

• No Whole Life Policies: They only offer term life insurance, so families wanting lifelong coverage with cash value will need other options.
• Limited Customization: Their plans have fewer options for add-ons or tailoring, which might not suit everyone’s needs.

#4 – MassMutual: Best for Cash Value

#5 – Prudential: Best for Flexible Policies

Pros

• Flexible Policies: Prudential life insurance guide makes it easy to customize the best life insurance for an unborn baby, offering options that fit your family’s needs now and in the future.
• Trusted Reputation: With an A+ rating, Prudential gives you reliable coverage you can count on to protect your family.
• Affordable Rates: Plans start at just $28 per month, making it simple to get the coverage you need without overspending.

Cons

• Limited Cash Value Growth: Prudential’s policies may not build as much cash value over time as some competitors.
• Fewer Whole Life Options: If you’re looking for lifelong coverage with cash value, you might need to consider other providers.

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#6 – Northwestern Mutual: Best for Permanent Coverage

Pros

• Lifetime Coverage: Northwestern Mutual offers lifetime coverage for your baby, providing long-term security for your family.
• Strong Financial Rating: With an A++ rating, you can trust that your policy is in good hands. Take a peek at our guide, “Northwestern Mutual Life Insurance Guide” to find out more.
• Cash Value Growth: Their policies build cash value, starting at $34 a month, which could help with things like education in the future.

Cons

• Higher Premiums: Permanent life insurance can be more expensive than term life, which might be a concern for those on a tight budget.
• Limited Short-Term Options: If you need a temporary or flexible policy, you might want to look at other providers since Northwestern Mutual mainly offers permanent coverage.

#7 – AIG: Budget- Best for Budget-Friendly

Pros

• Affordable Rates: AIG offers life insurance for an unborn baby starting at just $31 per month, making it an affordable choice for families.
• Flexible Plans: Their term life insurance plans are adjustable, so you can change coverage as your family’s needs grow.
• Easy Application: The application process is simple and stress-free, so you can get coverage quickly. Take a tour of our guide, “AIG Life Insurance Review” To get more details.
  

Cons

• Lower Financial Strength: AIG has a decent A rating, but it’s not as strong as some other companies, which might make some families hesitant about long-term reliability.
• Limited Whole Life Options: AIG focuses on term life insurance, so it’s not the best option if you’re looking for lifetime coverage that builds cash value.

#8 – Transamerica: Best for Simple Coverage

Pros

• Simple Plans: Transamerica offers clear, straightforward policies, ideal for families seeking the best life insurance for an unborn baby.
• Trusted Provider: With an A+ rating, your family’s coverage is backed by a secure and reliable company.
• Affordable Rates: Starting at $29 per month, their plans deliver solid protection at a budget-friendly price.

Cons

• Limited Customization: Fewer options for riders or add-ons make policies less flexible. Check out this helpful guide, “Transamerica Life Insurance Company Review” To explore further.
• No Cash Value Growth: Policies don’t build cash value, so they may not suit families seeking an investment option.

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#9 – Banner Life: Best for Term Insurance

Pros

• Term Insurance Expert: Banner Life focuses on flexible term policies, making it ideal for the best life insurance for an unborn baby.
• Affordable Rates: Starting at $27 a month, it’s a budget-friendly option for solid family protection. Navigate with our guide, “Banner Life Insurance Company Review” To expand your knowledge.
• Trusted Company: With an A+ rating, Banner Life provides reliable, stable coverage you can count on.

Cons

• No Whole Life Insurance: Banner Life doesn’t offer lifetime coverage or policies that build cash value, so it may not suit families wanting long-term benefits.
• Limited Customization: While policies are simple and straightforward, there are fewer riders or add-ons to tailor coverage to your family’s unique needs.

#10 – Guardian Life: Best for Cash Growth

Pros

• Cash Value Growth: Guardian Life’s whole life policies build cash value over time, providing long-term benefits for families with an unborn baby.
• Strong Rating: With an A+ financial rating, Guardian Life is a trusted, stable provider you can rely on. Find the ultimate tips in our guide, “Types of Life Insurance” For an enhanced understanding.
• Affordable: Coverage starts at just $36/month, offering great value for the protection and growth it provides.

Cons

• Too Many Options: The wide range of policies can be overwhelming, especially for first-time buyers unsure of what’s best for them.
• Limited Term Options: Guardian Life mainly offers whole life insurance, with fewer flexible term options for those seeking short-term coverage.

Can you buy life insurance for an unborn baby?

Technically, life insurance prevents a dependent from suffering financially if a breadwinner passes away. However, unborn babies do not have dependents or an income, making the coverage unnecessary.

Unborn Baby Life Insurance Monthly Rates by Provider & Coverage Level

Although life insurance for unborn children exists in other parts of the world, known as prenatal coverage, American providers do not offer this policy.

Life Insurance Discounts From the Top Providers for Unborn Baby

Fortunately, stillbirth rates in America declined dramatically since the 1940s, according to the Centers for Disease Control and Prevention (CDC).

While you may hope to protect your family from loss before or during delivery, you won’t find any American provider willing to underwrite affordable life insurance for an unborn baby.

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What life insurance policies should new parents consider?

Expecting parents should invest in their own life insurance coverage to best protect their children.

However, life insurance for pregnant women can be tricky to secure if you’re beyond your first trimester. 

Another option is to wait and purchase baby life insurance for your newborn. Many companies accept applications as early as 14 days. But some financial experts warn that life insurance for babies is not always the best investment.

That said, if you can afford the premiums and it brings you peace of mind, it’s worth attaining coverage after giving birth.

Below, compare the average monthly rates for life insurance for babies and children from various providers:

• Foresters Life Insurance Company: $15.18
• Gerber Life Insurance Company: $24.70
• Globe Life Insurance Company: $10.09
• Mutual of Omaha Life Insurance Company: $14.70
• Physicians Mutual Life Insurance Company: $5.49
• Transamerica Life Insurance Company: $21.40

Keep in mind that each company sells different levels of coverage for different ages. For example, Gerber writes policies with up to $50,000 worth of coverage. However, Globe Life policies only reach $30,000. Regardless, none of the providers sell policies for unborn children.

The best Life Insurance for an Unborn Baby is Available After Birth

Ultimately, you cannot purchase life insurance for your baby before they’re born. Instead, invest in your own coverage to protect your future child. Or secure a policy for your newborn after welcoming them to the world.

Case Studies: Finding the Best Life Insurance for an Unborn Baby

Finding affordable life insurance can be tricky if you chew tobacco, but some companies offer great options. Let’s look at three quick stories of people who saw the right policies for them.

• Case Study #1 – Starting with Their Own Coverage: Emma and David thought about getting life insurance for their newborn but realized it was smarter to secure their own first. This gave them peace of mind and more time to pick the right plan for their baby.
• Case Study #2 – Planning for the Future: Sara and Michael wanted to plan ahead and ensure their baby’s future was financially secure. After researching their options, they decided on a whole life insurance policy, which not only locked in affordable rates but also built cash value over time.
• Case Study #3—Finding Affordable Coverage: Jessica and Tom carefully compared several life insurance providers before deciding on AARP for its competitive $27 rates and dependable coverage. They appreciated how AARP’s policies offered excellent value without compromising on benefits, making it an ideal choice for their growing family.

These stories show how a little planning can help you find the right life insurance to protect your family’s future. You can Enter your ZIP code below to compare rates from the top providers near you.

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