The Quebec Parental Insurance Plan (QPIP) exists since 2006. This system covers almost all workers in Quebec, but does not include the student population. Knowing they are in the childbearing age, it might be interesting to evaluate about the possibility of extending the current system of parental insurance for graduate students. Using data from a survey of the graduate students population, this paper proposes a probabilistic and a statistical approaches to predict the number of births from parents that are in completing graduate studies. Using the modeling of the birth rate, we will evaluate the cost of the introduction of parental insurance for graduate students in Quebec. Under certain assumptions, we are able to calculate a cost of insurance of about 6.57$ million for this plan. Knowing that many group insurance plans increase the QPIP benefits for their employees, we believe that the proposed model could also be used to predict the costs of such insurance coverage.