Your insurance needs will change if you're expecting the birth of your child. Here's what you need to know.

• Health insurance: Under many health plans, newborns cease to be covered 30 days after birth unless you notify your health insurance company within that 30-day period requesting that your child be added to your coverage. So call the company. And don't wait 30 days. Call immediately. If you're married, you may have a choice between the mother's or father's policy. If you do, compare costs, features, and the freedom to choose doctors.
• Life insurance: This may surprise you, but insuring your child isn't the most important issue. When a child is born, Mom and Dad must buy or significantly raise their life insurance protection to make sure that Junior won't be a "street baby." And don't forget to insure the homemaker if one of you will be staying home. This is also a good time to reassess life insurance beneficiaries and change your contingent beneficiary to "all surviving children" instead of "my brother Ralph."
• Disability insurance: If you've put off buying this coverage, now is a good time to rethink your decision. The loss of a paycheck would be a bigger hardship now that you have a new baby.