There are some insurance companies that thankfully provide couples with the benefit of insurance cover for fertility treatments. Among some of the upcoming options here include the Bharatiya Mahila Bank (BMB), which has associated itself with general insurance major, New India Assurance. The idea is to help couples who are unable to conceive through natural means and save on costs. In fact, it is currently offering this benefit to women customers across different categories of insurance, which includes treatment of infertility and maternity. 3 different kinds of schemes are being launched here and women can choose from the same.
History of IVF and Insurance
The trend of IVF or In Vitro Fertilization began booming during the millennial period when surrogacy was commercialized. From that time on, there has been a huge demand for IVF treatment. In comparison to other countries, India still had lower costs, with rates being as low as 1/3rd of foreign companies offering the same treatment. An IVF treatment in INR is 2,50,000 in the U.S. it comes to about $10,000 in the US.
Understanding this market, insurance companies like Bhartiya Mahila Bank (BMB) and New India Assurance jointly launched insurance for infertility treatment. This would be provided in spite of the financial status of an individual. It comes under the BMB Nirbhaya that offers coverage for infertility and maternity too. Sum Assured ranges from INR 1,00,000 to INR 5,00,000. The insurance cover includes IVF, maternity, health problems, hospitlalization, check ups at gynecologist, etc.
If you are considering on getting married, planning a baby or in general getting insurance coverage, opting for a comprehensive plan like the above makes sense. Doing so will not only provide you with IVF coverage, but reduce the trauma of added financial stress along with other hassles.