Read this tip to make your life smarter, better, faster and wiser. LifeTips is the place to go when you need to know about Financing In Vitro Fertilization and other Infertility topics.
Since many health insurance plans cover fertility treatment, but not in vitro fertilization (IVF), couples and single women are left to seek alternative financing options, which can include: IVF Insurance, Reduced Rate plans, and Shared Risk® plans.
Another option is personal loan for IVF financing. These loans are available from you Fertility Clinic at a set interest rate, with low monthly payments and no prepayment penalties. Many clinics have programs that allow you to plan your payments according to the procedure you've chosen.
Third party personal loans can also be an alternative option for IVF financing. There are financial service centers who cater only to clients seeking fertility services. These centers specialize in fertility treatment, and your Gynecologist or Fertility Specialist may be able to refer you to a reputable organization for this purpose.
Home refinancing, home equity loans or lines of credit are other types of personal loans that you can obtain to assist in paying for IVF treatment. The interest rates tend to be lower than with other loans, and there is a lower up front cash outlay.
It is best to move forward with any of these personal loan options, with care, ensuring that the debt you incur will be one you can successfully manage, to preserve your credit rating and allow you to cover all of the new costs associated with having a child.