There is no doubt that twins cause a serious impact on finances. I think most people automatically think about double the diapers, two strollers and two car seats. . .not to mention feeding and clothing two (or more) little bundles of joy! On top of that, many mothers of multiples take longer leave to accommodate twins in the NICU, and some families (like ours) find that going back to work in any type of capacity simply isn’t feasible. If mom does go back to work and there isn’t an adult to stay home with the babies, add child care costs in there as well. (I can assure you that child care costs for twins is prohibitive.)
However, in the UK you can purchase insurance in case you birth twins or more! You as the couple, pay a monthly premium and in the case that you have more than one baby at a time, the insurance policy pays you a lump sum to help with purchasing twice as many of those necessities.
How Practical Is Insurance for Twins?
Multiple births are definitely on the rise. For someone like me, who conceived twins naturally, I would never have considered purchasing insurance in case I happened to have twins. On the other hand, for couples who are more at risk of conceiving multiples, who are undergoing fertility treatments or who are older–insurance that pays off in a lump sum might not be such a bad idea.
No Option for Twinsurance in America
Insurance for twins is not an option in America. However, I would highly suggest to anyone who is at an increased risk of having multiples to put money aside especially to take care of needs that are unique to having a set of twins. The benefit to doing this, as opposed to taking out an insurance policy is that if you don’t have twins, you haven’t lost money. Of course the benefit to taking out insurance, if it is an option, is that the pay out could potentially be more than you were able to save to begin with.
If you live in the UK and had the option did you take it and purchase a twinsurance policy?
Valorie Delp shares recipes and kitchen tips in the food blog, solves breastfeeding problems, shares parenting tips, and current research in the baby blog, and insight, resources and ideas as a regular guest blogger in the homeschooling blog. To read more articles by Valorie Delp, click here.
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