How important is it for newly expecting parents to evaluate insurance needs?

[macsfins]

It is probably fair to state that the first time parents can often feel overwhelmed with everything they need to consider. Acquiring baby supplies, choosing a baby’s name, making room for the baby, reading baby books and reevaluating finances are just a few of the items in a long checklist of “to dos.” At State Farm, we have found that having a baby is one of those times in a person’s life when personal finances and insurance take on greater meaning -- yet because of all of the excitement and other things to think about, sometimes they don't receive the attention they deserve.

What should newly expected parents ask themselves and consider when reviewing their financial situation? How should insurance be incorporated into the conversation?

(As a reminder, State Farm is gathering insights to help people make better financial decisions. Ultimately, we'll be sharing the best of those insights with everyone.)