The Truths About HIV Life Insurance

HIV/AIDS is a global epidemic affecting more than 36.7 million people around the world, according to UNAIDS. Of this figure, only 60% of people living with HIV know whether they are HIV positive or not. Such individuals are in a better position to get the right antiretroviral regimen and live a normal life.

If you have been diagnosed with HIV and you are planning to get HIV life insurance coverage to protect your loved ones when you are no more, below are the truths about HIV life insurance. 

  • Getting HIV life insurance is a breeze if you are HIV positive. But you will pay more premiums compared to someone who is healthy and without such health condition.
  • The amount of coverage you will get is limited compared to what you will get in traditional life insurance policies. In fact, the most popular option you will get are group life insurance from your employer, voluntary life insurance from your employer, and guaranteed issue life insurance.
  • If you cannot afford the no-medical exam plan which is faster but more expensive, life insurance underwriters will want you to take a medical exam.
  • During the underwriting process, you will be asked questions such as your date of diagnosis, your CD4 count, your viral load, your history of hepatitis B or C, your current medication, and your other health conditions.
  • The more critical your HIV is, the higher your premiums.
  • No two life insurance companies provide the same quotes for HIV life insurance. But you can get a fair deal if you use the service of a trustworthy, independent life insurance broker.
  • It is pertinent that you tell life insurance companies the truth about your HIV status so that your beneficiary can get your death benefits and so that your policy will not be terminated.