Why do you need oocyte life insurance?

The Ministry of Health & Family Welfare has made it mandatory for ART clinics & banks to have an insurance in place for Oocyte Donors.

As per the Assisted Reproductive Technology (Regulation) Act, 2021 Section 22 - (1) b. "An insurance coverage for such amount as may be prescribed for a period of twelve months in favour of the Oocyte donor by the commissioning couple or woman from an insurance company or an agent recognised by the Insurance Regulatory and Development Authority established under the Insurance Regulatory and Development Authority Act, 1999.

"Insurance" refers to an agreement in which a company, individual or commissioning couple commits to providing compensation for specified loss, damage, complications or death of an oocyte donor during the process of oocyte retrieval.

Therefore, the regulations mentioned above mandate that clinics must have both health and life insurance coverage for oocyte donors.

Is there a Life insurance option available in India that covers oocyte donors?

Safetree, a brand of A2V Insurance Brokers Private Limited, has created a specialized health insurance product specifically for Oocyte donors. The product is underwritten by an insurance company that is registered with the Insurance Regulatory and Development Authority of India (IRDAI).

What does it cover?

Death of the Oocyte donor: The policy provides the lump sum / sum assured paid to the Nominee in case of the death of the oocyte donor during the donation process or after.

Beneficiary: The policy typically names a beneficiary, such as the donor's family, who would receive the death benefit in the event of the donor's death.