Skip to content

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’ve recently had your first baby or your fourth, here are a few important things you should consider.

1. Keep your communication lines open

Good communication is an essential part of any healthy relationship, especially if you’re expanding your family. Make the time to chat with your partner about your expectations, fears, priorities and hopes – now and as your family grows.

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 now that the baby is here?
  • If you have other 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. Listen to your body

A lot can happen to you – both physically and emotionally – in the days and weeks following the birth of your child. You’ll probably find that there’s an endless stream of visitors who can’t wait to see you and your new addition, which can be exciting and exhausting in equal measures. Don’t be afraid to limit visiting hours or to avoid having anyone over for a while so that you can rest up.

A six-week postpartum check-up is a good opportunity for you to chat through any health issues or concerns you might have, but that doesn’t mean you can’t reach out to a medical professional if you’d like to speak to someone in the weeks before or after that appointment.

A few things you might want to discuss include:

  • Any physical discomfort or pain you’re experiencing
  • How you’re feeling emotionally after the arrival of your baby
  • Any questions you have about life postpartum. There’s no such thing as a dumb question – your doctor has likely heard it all before.

3. Protect your most important asset

If you’re planning on having another baby in 2020 or even 2021, 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’ve just had 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.

See all articles

Articles you might also like

Do I need life insurance in my 20s and 30s?

Life insurance isn't just for the elderly anymore

How much does it cost to raise a child in Australia?

There’s no denying it: becoming a parent changes everything

Getting married? Here are 3 things to consider

Here are a few conversations to have before tying the knot

Buying a house? Here are 4 things to consider

Financial decisions don’t get much bigger than this

Do I need life insurance in my 20s and 30s?

Life insurance isn't just for the elderly anymore

How much does it cost to raise a child in Australia?

There’s no denying it: becoming a parent changes everything

Getting married? Here are 3 things to consider

Here are a few conversations to have before tying the knot

Buying a house? Here are 4 things to consider

Financial decisions don’t get much bigger than this