JACKSONVILLE, Florida – Fortegra Financial Corporation, an international specialty insurer and subsidiary of Tiptree Inc., has announces a new partnership with LifeSpring, an organization focused on making fertility treatment affordable.
Fortegra will underwrite the product, currently available to Texas residents with a planned expansion to other states later this year.
“Infertility profoundly changes your life. It can impact your marriage, career, friendships, personality, and financial security. As an industry, we have struggled to find the best way to provide coverage and keep it affordable,” LifeSpring CEO Jason Muesee said in a news release.
“LifeSpring is dedicated to changing the way infertility is insured by offering an affordable resource for those who may be faced with infertility. Our team, with the help of Fortegra, can now turn peoples’ dreams of future family into reality,” Muesee said.
The news release said that according to the U.S. Centers for Disease Control and Prevention National Survey of Family Growth, one-in-eight American couples experience infertility issues. Couples between the ages of 29-33 only have a 20-25% chance of conceiving in any given month. With these numbers in mind, LifeSpring’s coverage aims to combat the financial burden presented by infertility for couples attempting to conceive.
“The average out-of-pocket cost for IVF (in vitro fertilization) is around $10-15,000 per cycle – a huge financial burden,” said Fortegra Executive Vice President and CMO Scott McLaren. “We’re proud to underwrite such a unique offering that can help mitigate the cost of treatment and allow prospective parents to realize their dream of having a family.”
LifeSpring’s unique program provides early-life coverage for children available for purchase through the age of 13.
This one-of-a-kind policy insures covered individuals well in advance of a potential infertility diagnosis, and can be purchased by parents, grandparents, or other benevolent individuals. Should a couple with at least one policyholder experience trouble conceiving between the ages of 18 and 35, LifeSpring would provide up to $50,000 of coverage for medication, doctor visits, in vitro fertilization (IVF), and other related treatments with no deductibles or co-insurance. Once coverage begins, the beneficiary couple is given 12 months to resolve any treatments made and approved prior to reaching the age of 36.
– Business News Wire