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IVF insurance startup Future Family promises a baby or your money back
For decades, couples going through in vitro fertilization (IVF) have had to spend tens of thousands of dollars on the procedures with no guarantee of success. It’s not only an emotionally draining process but also financially exhausting as well. Startup Future Family aims to ease some of that burden by offering a new IVF insurance product in the United States.
Built in collaboration with one of its investors, global reinsurer MunichRe, this new offering essentially provides a money-back guarantee for those undergoing IVF treatment. CEO and co-founder Claire Tomkins likens it to trip insurance. A couple pays 20% upfront before starting an IVF cycle. If they don’t have a baby after two cycles or lose the baby within two weeks of birth, they can file a claim to be reimbursed.
The cost of two IVF cycles can reach $40,000, depending on location. With Orange Shield, Future Family’s new product, the average cost of protection is $3,000 upfront and $999/month for five months. If treatment doesn’t succeed after two rounds, families can get a refund under their IVF insurance policy.
Orange Shield is available at participating clinics nationwide. Families can pay either via monthly installments or lump sum.
Source: techcrunch.com
