IVF Insurance | Future Family - Get Your Money Back

Easing the Financial Strain of IVF with Innovative Insurance

For many years, couples pursuing in vitro fertilization (IVF) have faced substantial financial burdens, often spending tens of thousands of dollars without a guaranteed outcome.

This process is not only emotionally challenging but can also create significant financial hardship for those involved.

Future Family's New IVF Insurance Product

San Francisco-based startup, Future Family, is introducing a novel IVF insurance product in the United States designed to alleviate some of these financial pressures.

Developed with backing from Munich Re Ventures – the venture capital division of global reinsurer Munich Re – this offering functions as a money-back guarantee for individuals undergoing IVF treatment.

Claire Tomkins, CEO and co-founder, draws a parallel between this insurance and travel insurance.

Prior to initiating an IVF cycle, couples remit a 20% premium.

Should they not achieve a successful pregnancy after two cycles, or experience a loss within two weeks of birth, they are eligible to submit a claim for reimbursement.

Understanding the Costs and Coverage

The expense of two IVF cycles can vary based on location, potentially reaching $40,000.

Future Family’s new product, Orange Shield, provides coverage at an average cost of $3,000 upfront, followed by monthly payments of $999 for five months.

If treatment is unsuccessful after two attempts, families are entitled to a refund as per the terms of their IVF insurance policy.

Orange Shield is currently accessible through participating clinics across the nation.

Payment options include monthly installments or a single lump-sum payment.

The policy encompasses all expenses related to IVF, up to a chosen coverage limit, with a maximum benefit of $50,000.

All qualifying treatment costs are included within the coverage.

A Goal of Accessible Family Building

“Our primary objective is to facilitate the creation of more families by making IVF more attainable, affordable, and less stressful,” stated Tomkins, who is herself a mother of three children conceived through IVF.

“IVF insurance operates similarly to other insurance types – akin to auto insurance, where you secure coverage with the hope of not needing to utilize it.”

Eligibility Requirements

Eligibility is determined by a variety of underwriting criteria, encompassing factors like age and medical background.

Currently, patients aged 38 or older intending to use their own eggs are ineligible for coverage.

However, individuals aged 38 and above can qualify if utilizing donor eggs.

Additional eligibility considerations include lifestyle choices such as tobacco use, the source of eggs/sperm, and a patient’s infertility history.

Since its establishment in 2016, Future Family reports having assisted over 10,000 families in navigating the IVF process.

They offer a range of services, including fertility financing for IVF and egg freezing, as well as personalized coaching.

The company also states it has distributed $200 million in credit.

Funding and Investment

Throughout its history, Future Family – a Startup Battlefield participant – has raised $150 million in funding, including a $100 million credit facility secured in 2018.

Investors include Munich Re Ventures, TriVentures, MS&AD Ventures, ORIX, Aspect Ventures, Mindset Ventures, at.inc/, and OurCrowd.

Their most recent funding round was a $25 million Series B announced in April 2022.