“Real” Life Insurance Policies for HIV+ Individuals

Currently I have three top carriers that will consider applicants with a well-controlled HIV+ diagnosis.   I’d anticipate that by the end of 2016 there will be half a dozen or more.  Six months ago the number was zero.  For people and families living with this health status, this is incredibly exciting news.

For decades the HIV+ population was effectively shut out of the United States life insurance market.  The only option was a small guaranteed issue burial policy with a two-year waiting period; the same kind of coverage used as a last resort for terminal illnesses or active cancer cases.

These new policy offerings are regular fully-underwritten term and permanent policies with face amounts typically from $100,000 to $1,000,000 or more.  The pricing is at a rate above standard (e.g. above what a healthy person would pay) but is similar to what someone with other “ratable” health conditions might pay.

Is it worth it?  That’s a question each individual or family has to answer for themselves. For many, including the families I’ve worked with, it has represented a solid value and has given them an opportunity to protect against the loss of a loved one that before wasn’t possible.

The criteria for eligibility varies but generally speaking, the individual must:

·         Otherwise be healthy (qualify for coverage at standard or better rates).

·         Disclose the HIV diagnosis in the application

·         Be seeing a doctor on a regular (~ every 6 months) basis that has monitored viral loads

·         Be using a HAART treatment (“drug cocktail”)

·         Be age 35+ (there is a 30+ carrier)

·         Have been diagnosed 3+ years ago and condition is well-controlled

Again the above are general guidelines (and may not be an exhaustive list).  Not everyone will qualify.  Other than the HIV you must be a good health risk.   This is not an offer of insurance.  Only a life insurance carrier can offer insurance.

The process is basically the same as other fully-underwritten life policies with an application followed by an exam; however, in all cases medical records will be ordered.  This means the process will likely take a month or more from application to issue.

If you know someone that might benefit from this (or at least knowing about life insurance as an option), please share! I’d be happy to have a confidential phone conversation (404-521-8134).  I’m licensed to market these products in approx. 1/3rd of the US and if I’m not in your state I can provide a referral.  The application can be completed by phone and signed via email; no need to meet face to face.