Multiple Births Insurance

Health Insurance for Multiple Births: Coverage for Twins or Triplets

When a couple finds out they're expecting multiples, their emotions can range from happiness to anxiety - or both. Before they begin caring for two, four, or more children, Mom and Dad must examine their insurance policy to assure appropriate coverage for their growing family.

Alicia Crowther and her husband, Anthony, realized they needed to reconsider their insurance coverage soon after giving birth to triplets.

"We got to thinking, 'There is no way one of us could be the sole person responsible for these kids' care," Crowther, who lives in Nevada, said. She claims Anthony's high-risk construction employment prompted them to purchase a life insurance policy.

"When parents of multiples learn about what they're having, they're so overwhelmed that they freeze," says Katheigh Degan, who co-owns a MassMutual office in Kansas City, Missouri, with her twin sister, Raleigh Lang. "It is critical that they break the situation down into manageable chunks and take action."

According to Degan, contrary to popular belief, the quantity of insurance required is not proportional to the number of children, such as double for twins or triple for triplets. For example, she claims that parents of twins need between 25% and 50% more life insurance than parents of a single child.

What Multiple Births Mean for Health Insurance

Insurance premiums are rarely raised just because a pregnant lady discovers she is having more than one child. Parents with multiples, on the other hand, frequently report exasperating encounters with the health insurance claims procedure. Health insurance companies frequently reject claims submitted on the same day by a family with two or more children born on the same day. Routine exams and immunization claims are notoriously tough to handle.

What can you do to avoid this blunder? Inform your insurance company that you are expecting multiples before the infants are born. Of course, you'll want to ensure that your health insurance will cover your newborns whenever they arrive.

"When (my kids) were little, the dentist's office would go crazy," says Moschel Kadokura, a Cupertino, California, mother of triplets. "Every time they went in for a checkup, their dental insurance would reject two of them."

Home Insurance for the Multiple-Birth Family

Consider expanding your coverage for home-based accidents involving guests to your house, suggests Lisa Lobo, vice president of underwriting for The Hartford.

"With extra helpers and visitors, there may be more traffic in and out of your home, and thus an increased potential for trips and falls by people unfamiliar with your home," Lobo explains.

She advises evaluating your current homeowner's policy's liability limit and researching the option of purchasing an umbrella insurance policy that protects against catastrophic lawsuits. Hartford's $1 million umbrella policy would cost around $225 per year.

Also, if expanding your family necessitates a home expansion or other home upgrades, Lobo advises increasing your property's replacement value.

Does More Kids Mean Higher Auto Insurance?

Auto insurance can result in unforeseen costs. Having multiples may necessitate the purchase of a larger vehicle to accommodate the increasing number of passengers and baby car seats. Most insurance policies cover the replacement of car seats, which can result in higher insurance rates for families with multiples, according to Joel Ohman, CEO of CarInsuranceComparison.com.

"Twins or triplets may not directly cause an increase in car insurance premiums, but they may result in a slightly higher rate," he explains.

Many parents are shocked to find how much insurance their 16-year-old drivers require. Now multiply that number by three or more.

When her triplets left for college, Kadokura, a California mother of three, found a way to save money. Because her children did not own or drive automobiles while at school, the family adopted a rigorous driving policy that covered each child for 30 days per year — adequate for when they were at home and driving during school vacations. The benefit of keeping this level of treatment is that when the Kadokura children graduate and require full coverage, they will be eligible for lower costs for continuous care.