We’ve been relatively quiet for the last month or so as we let the search engines digest all that was fed in concerning the good news about new life insurance approval opportunities for those who are HIV positive and and are keeping the situation well controlled. There was one change since we first broke the news, that being that term life insurance for HIV was removed from the available products.
Having sucked it up and gotten over that, this opportunity for clients who are HIV positive is so awesome and so clearly better than anything offered before that we won’t quit hammering away at it. A few clients were turned off by the inability to get term life insurance for the obvious reason of lower cost, but other clients are plowing ahead finding that the rates offered for guaranteed no lapse universal life insurance is substantially lower than their only option in the past, guaranteed issue whole life insurance.
We have especially seen an 0f interest in the professional world, from HIV life insurance for athletes and physicians, to attorneys, CEO’s and elected officials. In the past the stigma of only being able to purchase small amounts of guaranteed issue graded benefit life insurance kept many from participating. With the availability of $1 million of life insurance with no graded benefit and immediate coverage those who have held back are now interested in finally being able to step out and get what they need for their families and businesses. Traditional life insurance for HIV positive is definitely here to stay.
Not unlike the breakthroughs we’ve seen in mood disorder life insurance, especially with bipolar disorder, while there is a much broader need, it is generally the higher net worth and professional crowd that lead the charge. They’ve seen the need for a long time and have continually run into brick walls in their attempts to meet that need. HIV life insurance is no different. Anyone with HIV who has tried to purchase life insurance in the past has been told they will be declined for everything except, as the name implies, guaranteed issue life insurance.
Happy New Year 2014 everyone. 2013 saw some major earthquakes and movement in impaired risk life insurance underwriting and we expect more of the same in the coming year. If you have questions or haven’t received what you consider a reasonable rate for your well controlled impairment, call or email us. We can help.
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