Lloyd’s continues to meet demands for multiple birth cover
16 July 2008
As movie superstars Brad Pitt and Angelina Jolie celebrate the birth of their twins in a French hospital, the interest in multiple birth insurance continues to increase.
The publicity surrounding one of the most famous couples on the planet has continued to intensify. The birth of son Knox Leon and daughter Vivienne Marcheline has driven the celebrity media to offer $10m for the first pictures of the parents and babies.
While Pitt and Jolie will have little trouble financing the additional costs which come with multiple births, for many parents the fear that they could hear the patter of more than two tiny feet has them looking to insure against the extra expense.
Lloyd’s coverholder Marcus Hearn Underwriting has been offering multiple birth cover for over a decade and as assistant director Dean Atkin confirmed, in recent years there has been a greater call for the product.
“The recent trend is for couples to have babies later in life and when parents reach their mid thirties the chance of multiple births increase a great deal,” he explains.
The policy can be taken out by parents up until the 14th week of the pregnancy or prior to their first ultrasound scan.
“Different health authorities and trusts will offer a scan to parents between 15 and 20 weeks so 14 weeks is a sensible period to enact the policy,” adds Atkin. “The costs involved with raising a child are significant so the policy is there to provide additional funding if you suddenly find you have to buy two or more of everything.”
Couples can choose a policy which will pay out anything between a minimum of £1,000 and a maximum of £5,000.
The cover is not available to couples who have undergone IVF treatment where routinely a number of fertilised eggs are implanted.
The policy is underwritten by Sagicor in the Lloyd’s market and Atkin adds: “We have been providing multiple birth cover for many years and it is becoming more popular because of both the cost and the medical evidence that multiple births become more prevalent in older parents.”
Last updated on 16 Jul 2008
