HIV+ Life Insurance Finally Gets Fair Shake!

To give you an idea just how sick I was of the way the life insurance industry has treated even the best of the best when it comes to managing their HIV, I and a group of life insurance professionals with my experience or longer in impaired risk life insurance were in the beginning stages of starting a new life insurance company. This company would only serve HIV+ clients. Although we knew that at some point the industry would have to admit that their fear and their exorbitant rates didn’t match up with the truth of well controlled HIV mortality risk, we had been waiting 5 years and, well, it had reached our definition of absurdity.

So here we are building a gun so that we can finally pull the trigger on fair underwriting and fair rates for HIV positive business and individual life insurance and bam, two days ago a monster of a company does exactly what we’ve been battling for the last five years. A little history and then the great news. Over the last five years there have been six life insurance companies who have stuck their precious toes in the water and claimed that they were willing the underwrite and approve life insurance for HIV+ individuals. Unknown to the market they were speaking to was that the life insurance companies themselves were taking on no risk at all. They were set up to let reinsurance companies (the big bucks behind the big bucks) carry all of the risk. In doing so they were at the mercy of the reinsurance company pricing which was absurdly high and out of line with the risk. Four of those companies dabbled and were out within months. One actually never accepted any applications. The two still in the market are Prudential and John Hancock and they are underwriting and pricing as if the HIV+ clients were on life support.

Then comes a well known, huge, well respected company and they jump into the market with a cannonball off the high dive. None of this toe dipping stuff. The first difference and I can’t begin to emphasize how huge this is, this company is going to retain all of the risk on the HIV policies, not using reinsurance at all. That means they believe they are completely safe in what they are doing. Second, where Pru and Hancock will only go up to $2 million, the new kid on the block is offering up to $10 million of term or permanent insurance. Companies don’t offer to retain all of the risk on $10 million of life insurance unless they know they are on solid ground. Third, they are offering their life insurance to HIV+ clients at pricing that is half or less than what is being charged by Pru and Hancock.

This new offering comes with very candid and fair underwriting guidelines.

  1. Self disclosed diagnosis (you will not be considered if HIV+ is not admitted at the time of application)
  2. At least two consecutive years of compliance with ART (antiretroviral treatment)
  3. You are seen and blood testing is done by an infectious disease doctor at least every six months
  4. Viral load is undetectable since starting on ART, but at least the last two years
  5. CD4 of 500 or more for the past two years and never  below 350 since diagnosis
  6. No history of hepatitis and current Hep B&C negative testing
  7. No viral resistance to treatment
  8. No history of substance abuse and absolutely no IV drug use history
  9. No history of other ratable health issues such as CAD, diabetes, cancer or protein in the urine. Minor health issues such as cholesterol or blood pressure treatment are OK
  10. No significant psychiatric history. Mild and minor mood disorders considered on a case by case basis
  11. Not currently underweight or losing weight. Normal protein levels
  12. No AIDS defining illness
  13. No smokers

Our analysis shows that somewhere around 400,000 to 500,000 people should qualify based on the criteria. The minimum amount of term insurance is $500,000 and the minimum amount of permanent insurance is $50,000. While less than half the price of the competition, a 45 year old male could expect to pay $2795 a year for $500,000 of 20 year term, a 50 year old female $3045 for the same and a 55 year old male $2631 for a $50,000 universal life policy guaranteed to age 120.

This is FINALLY a reasonable opportunity for HIV+ life insurance. If you believe you might qualify and want more information, call or email us directly. We can help.


About the Author

Every year millions are needlessly declined for life insurance or approved and paying far more than they need to. For 14 years, I have specialized in turning those situations around and finding the right life insurance solution at affordable rates. I give every client the personal attention they deserve.

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