IVF cost takes a toll on the life of infertile couple. It drains your savings with no guarantee of success. Frustration among couples is common while going through this time consuming procedure. IVF treatment involves several steps along with add-on procedures with an extra cost. Often the need of a baby economically harms you with the treatment that is beyond your budget. Easy finance options may be helpful at this juncture. Several packages are available for this procedure which include various steps in different combinations.
What are IVF packages?
Packages of treatment include IVF cost customized to your need with special discounts. Each step of treatment involves procedures that have a specific price. When you pay for each step separately it costs you more. Combining these treatment procedures into one package can be beneficial for both the patient and the IVF Centre.
Benefits to the patients: The medicines and injections of IVF are costlier when you buy them in retail. When you buy in bulk the injections can be provided as a multi dose vial or preloaded cartridges. It becomes easier for your doctor curtail the stimulation and adjust the dose of injections. Similarly, IVF disposables and media consumption cannot be predicted beforehand. Hence buying in bulk as a package is useful.
Benefits to the IVF centre: IVF centers can buy these drugs and disposables in huge quantities with a very good discount. Hence providing packages is useful for them too.
How to choose an IVF cost package?
Limitations in the success of IVF treatment makes patients rethink spending on this procedure. They need full financial clarifications on this. Hence many IVF centers provide packages for multiple attempts as well. At times patients may need special procedures like PGD, donor egg facilities, embryo freezing etc. These add on procedures can be combined with the IVF package to reduce the cost of IVF treatment.
- Basic package: Usually couples look for a low cost option in IVF and choose the basic package. This is cheaper and suitable for young patients as they may not require any add on procedure.
- Advanced Package: Includes extra procedures with IVF/ ICSI treatment like PGD, hatching, extended embryo freezing etc. It is suitable for patients having multiple problems or previous failed IVF.
- Multiple cycle Package: Many IVF units in India provide a multiple attempt package which includes stimulation drugs for 3-4 cycles and oocyte retrieval. It may or may not include the cost of IVF procedure. It is cost effective as you may need multiple cycles of treatment to attain success.
IVF Cost Credit facilities:
If you are looking for easy payment options to cater the IVF cost then, you have multiple options available. Various financial institutions like banking and nonbanking sectors have come forward to help couples undergoing fertility treatment. There are consumer loan facilities and credit cards available to avail easy finance options. Few loan providers are
HDFC personal loan for IVF
HDFC bank offers special terms for its own customers. Although there is no special feature like IVF loan, HDFC bank provides a personal loan which can be utilized for fertility treatment. They offer fast track loan processing for their own customers with minimal documentation. Customers not having a previous relationship with the bank also can avail this facility. The interest rates are better if you have a good credit score.
ICICI Debit card EMI
ICICI bank also offers health loans in form of personal unsecured credit facilities. This will cover your IVF cost with easy payment options. You can choose the tenure from 12 to 60 months of equated monthly instalments.
Bajaj finserv maternity care
Bajaj finserv provides pre approved health card which helps you in medical emergencies. They also provide no cost EMI if your IVF center has an agreement with them.
Consumer loan facilities with Lets MD gives you an easy financial option. They charge minimal interest and their document processing can be done online.
Although they are new to this field, their process is faster with zero cost EMI.
Special loan from the IVF Center
All these loan facilities will require your documents and will charge interest. You can talk to the fertility center where you are undergoing treatment. Some of the IVF centers like Femelife have their own credit team and loan facilities. These loans will cost you less and does not require extra documents or processing fees.
Criteria for availing IVF credit facilities
- Aged between 21- 50 years
- You should be a resident of India
- Have minimum salary of Rs. 15,000 per month
- Self-employed or salaried professional
- Minimum credit score as required by the Financial Institution
- Identity proof: PAN card/ Aadhar card
- Proof of address like Utility bill, passport, rent agreement or sales deed of house
- Bank statement of past 6 months reflecting salary credit for salaried persons
- Proof of business and IT returns for self employed individuals
IVF success depends on many factors. Age of a couple is an important variable as fertility declines with advancing years. Delaying treatment for gathering funds may compromise the success. It is always advisable to start the treatment as soon as possible with some financial help. IVF package for a single cycle may cost you more as often patients take 2-3 cycles for success. Various fertility options are available which can be customized to your needs. Discuss with your fertility specialist regarding the medical issues. Accordingly you can talk to the financial counsellor for deciding the package and credit facilities.