Private Adoption Insurance

jacksjerseygirl

So I was doing a search for something related on the web when I came across an article that was written back in 1991 by the NY Times.

It was about insurance being offered to adoptive families to help protect them from losing money when a private adoption fails, at the time it protected adoptive families 5,000-20,000 of fees associated with adoption costs with a birth family.

We are with an agency, but a potential twin private adoption has presented itself to us (though it is probably only 15% likely to evolve into anything substantial), and so I was looking to see if there was insurance we could get to help protect us financially with a private adoption.

Here is the link to the NY Times article from 1991 (incase anyone wants to read it): https://query.nytimes.com/gst/fullpage.html?res=9D0CE0D9103CF935A35757C0A967958260&sec=&spon=&pagewanted=all

Aside from this article, I haven't found much about insurance for private adoptive families, anyone know anything?

TTCgradstud

Seriously, what a coincidence, DH and FIL were just sort of joking about this today.  Then DH was trying to figure out if it could really be a possible business plan. 

I know after today I would sign up for it for my next adoption!

jacksjerseygirl

Well there seems to be insurance for everything else, we even had wedding insurance which would pay for all deposits/fees made if the wedding was cancelled for any reason other than us deciding not to marry.

I think we might contact a couple of the insurance co's listed in the article and see if they still do this.

 

BurkeJax

I am very curious about this. Let us know if you find anything out.

Dr.Loretta

I haven't heard anything, and it doesn't look like our insurance co. offers it.

But with the agency we're looking at, the match fee is refundable. So I guess we'd only be out the application and placement fee if something happened.

silliestbunny

I spent some time looking on-line.  It looks like most of the carriers that have offered Adoption Disruption Insurance no longer offer it.

If you find someone that does, please let us know.

Thanks!

jacksjerseygirl

silliestbunny:

I spent some time looking on-line.  It looks like most of the carriers that have offered Adoption Disruption Insurance no longer offer it.

If you find someone that does, please let us know.

Thanks!

 Yep that is what DH and I are finding. He is calling around to a few other insurance companies to find out but we even saw one company say that because of the economy they are no longer offering the insurance - so they must have up until recently?

Anyway, I thought it was interesting and I understand the potential for scams - which is probably one of the biggest reasons to not have it offered.

This is probably just another good reason for us to adopt through our agency and not get involved in private adoptions but ... sighs.