Future Family: The IVF Insurance Startup Guaranteeing Your Baby or a Full Refund!
In vitro fertilization (IVF) has long been a challenging journey for couples, both emotionally and financially. For many, the costs can soar into the tens of thousands of dollars without any guarantee of success. To address these concerns, the San Francisco startup Future Family has introduced a revolutionary IVF insurance product designed to alleviate some of the financial burdens associated with IVF treatments.
Introducing Future Family’s IVF Insurance
Backed by Munich Re Ventures, the new insurance offering from Future Family provides a unique money-back guarantee for couples undergoing IVF. CEO and co-founder Claire Tomkins explains that this product functions similarly to trip insurance, giving families peace of mind throughout the IVF process.
How the IVF Insurance Works
With the Future Family IVF insurance, couples pay an upfront fee of 20% of the treatment cost before initiating their IVF cycle. If they do not achieve a successful pregnancy after two cycles, or if they experience a loss within two weeks of birth, they can submit a claim for reimbursement.
- Cost of two IVF cycles: Up to $40,000
- Average insurance cost: $3,000 upfront plus $999/month for five months
- Maximum coverage limit: $50,000
The policy covers all related IVF expenses, allowing families to choose between monthly installments or a lump sum payment. Orange Shield, as the product is named, is available at participating clinics across the nation.
Goals and Eligibility Criteria
Future Family’s mission is clear: to support families in their quest for parenthood by making IVF more accessible and less stressful. Tomkins, who herself is a mother of three through IVF, emphasized that the insurance functions like other types of coverage, such as auto insurance.
Eligibility for this IVF insurance is determined by various underwriting factors, including:
- Age and medical history
- Use of donor eggs (patients 38 and older can qualify)
- Lifestyle habits (e.g., tobacco use)
- Infertility history
Future Family’s Impact on IVF Accessibility
Since its launch in 2016, Future Family has positively impacted over 10,000 families by offering various services, including fertility financing and one-on-one coaching. The company has also distributed an impressive $200 million in credit to support families during their IVF journey.
To date, Future Family has raised a total of $150 million in funding, with notable investors such as Munich Re Ventures and TriVentures. Their latest funding round included a $25 million Series B announced in April 2022.
Emerging Trends in Fertility Solutions
As the IVF landscape continues to evolve, startups like Future Family and new entrants like Lushi, which recently raised $5 million, are paving the way for innovative solutions in fertility wellness.
For more information on fertility financing and support options, visit our dedicated IVF resources page.
