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Expanding your family? Here are 4 things to consider

4 minute read
A pregnant woman surrounded by her family

If you’ve had a baby, then you know picking out a name, painting the nursery and packing the hospital bag is only just the beginning. When it comes to your finances, your health and your relationship, things will never quite be the same ever again.

So, whether you’re thinking about having your first baby or your fourth, here are a few important things you should consider before your bundle of joy comes along.

1. Keep your communication lines open

Good communication is an essential part of any healthy relationship, especially if you’re looking to expand your family. Before you start trying to conceive, make the time to chat with your partner about your expectations, fears, priorities and hopes.

You can’t read your partner’s mind, so by setting aside the time to talk to them openly and honestly, you’ll be able to ensure you’re both on the same page.

A few questions to get you started include:

  • Are there any changes to your lifestyle you’ll need to make before the baby comes along?
  • If you have children already, how will another baby change your family dynamic?
  • How will you divide the baby-related responsibilities? Who will stay at home to look after the baby and who will go to work? How do you feel about childcare?
  • How will you discipline your child? What’s acceptable and what’s not?
  • Will you send your child to a public or private school?
An expecting couple looking at information on a phone

2. Talk to your doctor

You don’t have to be actively trying to conceive to talk to your doctor about getting pregnant. While it’s obviously not mandatory, a preconception check-up is a great opportunity to ask a trusted health professional any questions you might have and get advice on how to give your baby the healthiest start possible.

Here are a few things you might want to jot down before your appointment:

  • A list of any medications you or your partner are taking, whether they’re prescriptions or over-the-counter supplements
  • Your health history, particularly if any health problems run in your or your partner’s family
  • Your immunisation history
  • Any questions you want to ask, even if they’re embarrassing or trivial. Your doctor has definitely heard them all before!

3. Protect your most important asset

If you’re planning on having a baby in 2019 or even 2020, the time to start thinking about pregnancy cover is now.

If you choose a cover which includes pregnancy and birth-related services, a 12-month waiting period will apply if you’re new to nib or have just changed to that cover. That means you’ll need to be on a health cover that includes pregnancy at least three months before you start trying to fall pregnant.

If you’re not sure if you currently have the appropriate level of cover, or if you want to find out more about our pregnancy and birth-related cover options, contact us today.

4. Prepare for the unexpected

When you’re preparing to have a baby, the last thing you want to think about is what would happen if you or your spouse were to be diagnosed with a terminal illness or pass away. But, the reality is that you’re now sharing your life, your assets and your debt with your family, and it’s important to ensure you’re all protected from the unexpected.

By preparing for the unthinkable with the right insurance cover, you’ll have peace of mind knowing that no matter what happens, the life you’ve worked hard to build for you and your family will be financially protected.

Don’t leave your lifestyle to chance; find out how easy it can be to safeguard your loved ones and protect yourself from the uncertainties of the future with nib Life Insurance and Income Protection*. Get a free quote today to see how affordable getting covered can be.

*This information is for Australian residents only and may be subject to change.

Any advice is general in nature only and does not take into account your financial situation, personal objectives or needs, so before acting on it, you should consider its appropriateness for you, having regard to those factors. Before making any decision to acquire or to continue to hold nib Life Insurance or Income Protection, you should read the Combined Product Disclosure Statement (PDS) and Financial Services Guide (FSG) .

TAL Life Limited ABN 70 050 109 450 AFSL 237848 is the issuer of the life insurance benefits, and St Andrew's Insurance (Australia) Pty Ltd ABN 89 075 044 656 AFSL 239649 is the issuer of the Involuntary Unemployment Cover available as part of nib Income Protection. nib health care services pty ltd (nib) ABN 91 003 037 625 is an authorised representative (AR Number 321683) of TAL Direct Pty Limited ABN 39 084 666 017 AFSL 243260, which promotes these products. nib does not guarantee or accept any liability under nib life insurance products or income protection products.

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