Infertility Treatment: Financing Options

Unfortunately, the cost of the treatment is typically not covered by insurance. If you’ve been advised to seek fertilization treatment, it’s time you start considering some available solutions for fertility financing.
One of the easiest methods to finance IVF is taking out a medical loan. There are certain financial companies whose loan services are specifically designed to cater for infertility treatments.
- When securing a medical loan, you must keep in mind certain parameters and compare these between loan services offered by different companies
- These parameters include the annual percentage rate (APR), miscellaneous fees, and repayment policies
- Many loan servicing companies specialize in offering convenient repayment options, low-interest rates, and reduced prepayment fees
- Most of these loans can be approved online. This makes the process quick and convenient
- Approval depends on your past credit score but many companies also tailor the loans to the borrower’s credit history
Medical Credit Cards
A medical credit card is another alternative to financing an IVF treatment.
- A 0% APR credit card allows borrowers complete repayment without accumulating any interest as long as the payment is made within the promotional period that usually lasts one to two years
- With a 0% APR purchase, you can cover a substantial amount of induced costs with easy repayment of the balance interest-fee
- Make all repayments within the specified intro period or else a regular purchase APR will be imposed on the remaining balance
- When opting for a medical credit card, it’s best to look around and compare the interest rates, duration of the 0% APR tenure, and other parameters
HELOCs
This refers to the home equity line of credit, or simply put, home equity loans that you can secure for financing fertility.
The equity that you build on your home can help you secure a loan that acts as a second mortgage. The solution comes with its own set of pros and cons that you must weigh carefully.