The world’s first newborn twin medical insurance has been launched. It targets people who are not eligible for the U.S national insurance.
Newborn twins medical insurance policy, from New Life Agency, is the first insurance of its type in the world. This global insurance covers the risk of premature birth and medical complications than can come from a multiple birth.
“There has been a definite need for twins coverage in the marketplace as more and more global parents choose twin births as a means to expand their families,” said Gary Hickox, CEO of New Life Agency, in a statement. “We listened to the marketplace and have developed a specific insurance targeted to meeting the needs of those parents and their babies worldwide.”
The plan provides coverage for twins born to people who don’t qualify for U.S. based health insurance as non-residents. The $50,000 premium buys $1 million worth of coverage, with a $50,000 deductible. The deductible is fully refundable once all deductible claims are paid for the twins medical expenses.
With the number of twin births in the United States doubling in the last 30 years, this insurance appears to have come at a good time for the market. This surge in multiple births is attributed to the rise in the use of fertility treatment. In 2009, 1 in 30 infants was born a twin, according to data from the Centre for Disease Control and Prevention.
New Life Agency specializes in assisted reproduction insurance. One of the benefits of their plan is parents-to-be can opt for single birth insurance, but switch to multiple birth coverage if they find they are expecting twins.
“Twin births are riskier than single births,” Joyce Martin, a CDC epidemiologist told Reuters. “Infants born in twin deliveries are at greater risk of poor outcome,” she said.
“They are born smaller, they are born earlier. They are more likely not to survive the first year. Most twins do fine, but they are at higher risk.”