New baby: the insurance moves that actually matter

A baby is the single biggest jump in most families' life-insurance need — and a good moment to fix the gaps you've been ignoring.

• Add life insurance for both parents, including a stay-at-home parent (replacing childcare and household work is a real cost). Size it with the Life Insurance Needs tool; term usually fits.
• Check disability coverage — your income now supports a dependant. Run the Disability Gap tool and mind the any-occupation and taxability traps.
• Name and update beneficiaries and, crucially, name a trustee for minor children — don't leave a payout to fall into a child's lap at 18 via the courts.
• Update your will and guardianship alongside the insurance — they work together.
• Skip the baby-targeted junk: child life insurance is rarely a priority over insuring the earners; buy it, if at all, only after the parents are properly covered.