Insurance policies for fertility treatments

Abstract

In Kenya there are over 3 million people who suffer from infertility. According to the Nairobi IVF fertility center, fertility treatments can range anywhere from Ksh 10,000 to Ksh 480,000 per cycle. This is expensive for the average Kenyan and as a result it denies deserving couples the opportunity to bear a child. Various studies have also shown that infertility also affects the mental health of many couples with one study even claiming that infertility has the same psychological effects with cancer patients. Insurance companies however have the ability to assist these couples in offsetting some of the costs of seeking treatments for infertility treatments. This study therefore focuses on pricing an insurance policy for fertility treatments. When pricing the policy, the method used involved calculating the standard risk premium followed by getting the office premium. This study goes on to find the premium based on various demographic factors that may affect infertility such as age, education, occupation and marital status