Insurer to underwrite up to $50,000 in early-life coverage for
prospective parents
JACKSONVILLE, Fla.--(BUSINESS WIRE)--
Fortegra
Financial Corporation (“Fortegra”), a leading international
specialty insurer and subsidiary of Tiptree Inc. (“Tiptree”), today
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,” said LifeSpring CEO Jason Muesee. “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.
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 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.
For more information including frequently asked questions, visit www.lifespringins.com.
To learn more about Fortegra products and services, visit fortegra.com.
About Fortegra
Fortegra
Financial Corporation (a Tiptree Inc. company) and its
subsidiaries comprise a single-source insurance services provider that
offers a range of consumer protection options including warranty
solutions, credit insurance, and specialty underwriting programs.
Delivering multifaceted coverage with an unmatched service experience
for domestic and international partners and their customers, Fortegra
solves immediate, everyday needs, empowering consumers to worry less and
Experience More.
About LifeSpring
LifeSpring
Insurance Services is dedicated to changing the way the costs
of infertility treatments are insured. We hope for a future where every
child can pursue having his or her own biological child when ready to
become parents. Through an innovative early-life approach, we can help
couples facing infertility overcome the financial challenges of
expensive out-of-pocket treatments to realize their dream of family.
View source version on businesswire.com: https://www.businesswire.com/news/home/20190606005120/en/
Media Contact:
Emily Cress
BLASTmedia for Fortegra
(317)
806-1900 ext. 137
emily_cress@blastmedia.com
Source: Fortegra Financial Corporation