New Life Insurance: General Assisted Reproduction Insurance

There is now a new life insurance policy that was created for those in the general assisted reproduction field. The policy is intended for persons who will be recipients of assisted reproduction, like surrogates, new families, egg donors, and assisted reproduction professionals. The following information focuses on what this kind of insurance can do for surrogates and the prospective parents.

Considerations for Surrogates and Prospective Parents

Couples who will be having a baby through a surrogate will want to consider getting this kind of insurance. Prospective parents may want to or even be required by state law to pay for a life insurance policy for the surrogate mother that covers her through the pregnancy, delivery, and in some cases, for a specified period of time afterward.

Surrogate accidental death insurance is one example of a life insurance policy for assisted reproduction. It ensures both the prospective parents and the surrogate’s family that in the event of death, there will be monies to cover the loss. Coverage can begin upon approval or with a 6-week ultra-sound. Coverage amounts vary, but it could be $200,000 combined single limit (if purchased in conjunction with medical insurance). There are set or fluctuating premiums and limits, depending on amount of coverage, and whether the applicant is the surrogate or the prospective parents.

Premium and Limit Information

One company, New Life Agency, licensed in more than 40 states and a Lloyd’s of London coverholder and underwriter, has new life insurance for prospective parents that carries a fixed $595 premium (no fluctuating premiums) when the policy is purchased for the surrogate in combination with their Cycle Medical Plan. The surrogate’s beneficiary receives $250,000 in the event of death, with $100,000 designated to the intended parents as the beneficiary.

Surrogate life insurance has fluctuating premiums that are determined by the insurance carrier’s underwriting department and taking into consideration medical and health history, amount of coverage, financial income and other factors. When the policy is issued, the annual premium is due. Payout to the beneficiary of the surrogate is a minimum of $250,000 and a maximum of $1,000,000. Additional beneficiaries such as intended parents are not allowed under New Life Agency's surrogate life insurance in this example.

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