For decades, couples undergoing in vitro fertilization (IVF) have faced not only emotional but also financial uncertainty, with the cost of two IVF cycles reaching up to $40,000. To alleviate this burden, startup Future Family has launched Orange Shield, an innovative IVF insurance product in the United States. Built in collaboration with global reinsurer MunichRe, Orange Shield offers a money-back guarantee to couples who don't achieve a successful pregnancy after two IVF cycles.

According to CEO and co-founder Claire Tomkins, the new product is designed to work similarly to trip insurance. Couples pay 20% of the insurance upfront, and if they don't have a baby after two cycles or lose the baby within two weeks of birth, they can file a claim to be reimbursed. The average cost of protection is $3,000 down and $999/month for five months, with a maximum coverage limit of $50,000.

Orange Shield is available at participating clinics nationwide, with families able to pay via monthly installments or lump sum payments. The policy covers all IVF-related expenses up to the selected coverage limit, including eligible treatment costs. Tomkins, herself a mother to three children born through IVF, emphasized that the goal of Orange Shield is to make IVF more accessible, affordable, and less stressful for couples.

The eligibility criteria for Orange Shield are based on a range of underwriting factors, including age and medical history. Patients aged 38 years or older who plan to use their own eggs are not currently eligible for coverage, although they can qualify if using donor eggs. Other eligibility factors include lifestyle habits, intended egg/sperm sources, and infertility history.

Future Family, founded in 2016, has established itself as a leader in the fertility space, having worked with over 10,000 families to navigate the IVF process. The company offers a range of services, including fertility financing for IVF and egg freezing, as well as one-on-one coaching. It has distributed $200 million in credit and secured $150 million in total funding, including a $100 million credit facility announced in 2018.

The launch of Orange Shield marks a significant development in the IVF industry, which has long been tackled by startups. The fertility space has seen recent activity, with the emergence of new companies like Lushi, which raised $5 million in funding. As the IVF market continues to evolve, Future Family's innovative insurance product is poised to make a meaningful impact on the lives of couples seeking to build their families.

With Orange Shield, Future Family is taking a crucial step towards democratizing access to IVF, making it more affordable and less stressful for couples. As the company continues to grow and expand its services, it will be interesting to see how the IVF industry responds to this new development and how it will shape the future of fertility care.