Bank Baby's Cord Blood for Future Insurance?

iamyour on 13/06/2017 - 15:27
Last edited 13/06/2017 - 15:51 by 1 other user

Exciting things is going to happen. New born baby will say Hello for the first time in couple of months.
I and Mrs considering to bank baby's cord blood for future insurance.
Today, Mrs receive an email from Cyrosite with a subject of "Our End of Financial Year gift to you!!" (which make Mrs excited to use Cyrosite ).

Below is the content of the email:
Our EOFY gift to you!
Thank you for considering to bank your baby's cord blood with Cryosite.
As an End of Financial Year special we are giving you a 7 years free upgrade when you enrol for any of our 25 years storage plans*.
Simply enter code: UPGRADEBK when you enrol

Here is the Cyrosit plan that we are interested in ( which is stated in the email attachment ):
Cord Blood and Tissue 25 years Storage Prepaid Plan
$5600 for 25 years storage fee + $250 enrolment fee ( before discount ).
Note: There is no words in any of the attachment or "Our End of Financial Year gift to you!!" email mentioning there will be $330 collector fee.

The question I have is:
Is it a good idea to bank baby's cord blood and tissue for future insurance? (I read in somewhere that most hospital did not like to accept private banking cord blood or tissue. I also read in somewhere saying that Cyrosite will decide if they will release the tissue depending the situation. If they think it is not right, they will refuse to release the cord blood or tissue even though we request for it)

Thanks again for the time reading my dilemma as well as for all the comments.

Poll Options expired

  • 0
    Yes, it is a good idea to bank baby's cord blood and tissue for future insurance.
  • 24
    No, it is a waste of money
Health & Beauty

Comments

  • holdenmg on 13/06/2017 - 15:53

    Congrats :+)

    Parents pay to store their babies' cord blood, but few ever use it
    http://www.smh.com.au/technology/technology-news/parents-pay…

    In Victoria?
    Check out:
    Becoming a Cord Blood Donor
    "If you wish to donate Cord Blood
    Your participation is completely voluntary. There is no
    expense to you, nor will you be paid for participating."
    https://www.fightcancer.org.au/static/uploads/files/bmdi-cbb…

    • iamyour on 14/06/2017 - 08:55
      +1

      Thank You :)

      I have been introduce this cord tissue banking from a close friend.
      I will discuss this with Mrs regarding this donating "Cord Blood Donor" since I did not know it is exist in the beginning.

  • BensonP on 13/06/2017 - 15:54
    +3

    Can I ask why? Seems a rediculously high cost, just to have your own stem cells/blood given back to you in the off chance you need it?

    Have you considered donating it to a public bank? Or stem cell research? If, God forbid, your child does need a stem cell transplant, what's wrong with someone else's?

    Does you family have a history of Leukaemia or other blood/bone diseases?

    • iamyour on 14/06/2017 - 09:02

      They said it is insurance for the kids.

      I have no idea about public bank for this cord tissue. I only know donating blood which i and mrs did every three months. I should talk to mrs regarding this and she might go on-board with it.

      I don't think we have history of leukaemia or blood deseases. But mrs family side do have bone diseases such as osteoporosis, Vitamin D deficiency, etc.

  • [Deactivated] on 13/06/2017 - 16:03
    +1

    Is it a good idea to bank baby's cord blood and tissue for future insurance?

    There's lots of risks of the company going out of business … http://www.stemlife.com.au/

    Wait until the big pharma companies are in the game or even the Australian Red Cross blood bank or until you can buy a personal freezer with backup powersupply on aliexpress/ebay.

    • iamyour on 14/06/2017 - 09:06

      That is also the reason why i consider cyrosite rather than cell care. Cyrosite have their ASX which I feel that it is better. I am not sure if I am right or wrong as I do not have much experience or knowledge about it.

      • [Deactivated] on 14/06/2017 - 09:15

        I wouldn't put too much weight on the ASX listing. The market cap is only $8.4m and their stock price is down like 60% since 2013.

        • iamyour on 14/06/2017 - 09:30

          Yeah I saw that one as well.. I thought it is normal due to our bad economy.

  • Master Bates on 13/06/2017 - 17:47

    OP please turn on your PM, thanks!

    • iamyour on 14/06/2017 - 09:02

      Done :)

  • Oofy Doofy on 13/06/2017 - 22:23

    It's not that it's a waste of money, it's that it's too hard to find a place/hospital that'll organise to get the cord blood, and there's not enough competition amongst these businesses in order for it to be cost effective.

    Which makes donation the best overall option ATM.

    I got the run around in 08 and couldn't find anybody to help get it organised.

    • iamyour on 14/06/2017 - 09:10

      Friends have done that twice with cell care when she have a labor in Frances Perry House. Mrs also register at Frances Perry House. That's why i convince that organize to get the cord blood should not be complicated.

      Yeah, I am considering the donation things.. but I do need to discuss this with Mrs :)

  • rumpanda on 14/06/2017 - 14:25

    Hi alphadelta,

    Congratulations :) I'm due in September.

    I looked into this for myself but you cannot do delayed cord clamping and harvest the cord blood, its either one or the other.

    If you decide not to bank have a look at delayed cord clamping because it has benefits to the baby's health immediately.

    • iamyour on 15/06/2017 - 12:11

      Congrats to you as well :)

      Yeah, I am still deciding which path that i need to take..

Login or Join to leave a comment
Login Join