It was not long ago that life insurance for HIV patients was considered impossible. From the discovery of the virus in the early 1980s and through the early 1990s HIV was considered uncontrollable and the results were certain death. However, since the early 1990s there have been numerous drugs and treatments that have managed to stop the virus in its tracks. While there is no cure, there are people leading happy, normal lives which have led to more life insurance for HIV positive people.
Have 2 Minutes in Hand? We Offer Affordable Life Insurance Quotes in 3 Simple Steps.
Around 37 million people worldwide are living with HIV in which 2.6 million are under 15 years old. In 2014, 1.2 million people died being affected by this virus. Approximately, 70% of HIV positive people live in Sub-Saharan Africa.
1.2+ million people living with HIV in the USA. Approximately 658,507 people in the USA died after being infected by HIV till 2012.
The Basics of HIV:
Acquired Immune Deficiency Syndrome (AIDS) robs the body of the ability to defend itself from infections and creates a condition that leads to death in almost all people infected. HIV is the precursor for developing AIDS and the risk factors are very dire. Without proper treatment, HIV will develop into AIDS and the health complications are such that illness and death are virtually assured. To be more vulnerable to disease and infection means that even the common cold may have serious debilitating effects as the body’s defenses have been removed.
Fortunately, thanks to a series of drug combinations that keeps the virus in check, people with HIV lead normal lives and operate mostly under normal risk factors which means that they may live as long as anyone else. However, this all depends on taking the medications on a regular basis. However the number of new HIV cases has dropped precipitously since the late 1980s which means that getting life insurance with HIV is now possible.
If you currently have life insurance that was obtained before becoming HIV positive, then it is imperative that you do not let the policy lapse as getting a new one with similar premiums and terms will be virtually impossible.
Getting Life Insurance for HIV:
For those who have tested positive for HIV, you can still get life insurance albeit at a higher premium rate than for those of similar ages, background and medical history apart from being HIV positive. Because your health is at higher risk, HIV life insurance will be more expensive depending on a number of factors. However, not telling the insurance company that you have HIV will do little good as their standard medical examination will reveal if you have the disease and the result will usually be an automatic rejection.
Although people afflicted with HIV are leading more normal lives, it is still difficult to get life insurance as only a select number of companies offer such policies. It must be noted most companies do offer life insurance for HIV infected people in the form of guaranteed life insurance. This type of policy has no medical exam or health questions, so you cannot be turned down. However, it must be noted that this type of insurance is very expensive, offers limited benefits and may not be the best for your particular needs.
The Three Basic Types of HIV Life Insurance Policies:
Group Employment: Many employers offer group policies that will cover your condition, so you may want to check out what your employer has to offer. Plus, if you are looking to be hired by a company, ask about their group life insurance policies to see which benefits package best suits your needs.
High Risk Insurance Companies: There are certain companies that specialize in delivering high risk insurance packages which include life insurance for HIV positive patients. An independent insurance agent is often a good place to start as they have access to several such companies that provide policies for your particular needs.
Critical Illness Insurance: Similar to high risk insurance companies, these are insurance firms that offer policies to those who have critical illnesses. Some of these insurers may require a medical exam while others do not.
How to Choose the HIV Life Insurance?
The first fact that you will need to face when you get life insurance with HIV is expecting to pay from three to five times the amount as a person of similar age, background and medical history as you. While you may be able to find certain discounts or ways to lower the premium, it will still be considerably higher than that of a non-HIV infected person.
So in that light, choosing the best life insurance with HIV coverage starts by comparing the different policies which are available from different insurance companies. This will narrow the field considerably as most insurance companies do not have policies for those who are infected with HIV with the exception of guaranteed life coverage.
So, you may want to start with your own insurance company to see what they offer first as you might be able to bundle it with your auto or home insurance and save a little money. Barring that, if you have an independent agent they can find the lowest priced, best coverage HIV life insurance on the market. You can also search the internet for various companies that offer this type of coverage.
You don’t need to look any further as you can find affordable life insurance quotes for HIV patients here from Secure Senior Life Insurance.
Once you narrow the search to just a few companies, then you can look over their policies to see if any discounts may apply. You should leave no stone unturned in your search for finding any way to lower the premiums for the life insurance you want. Finally, you may discover that guaranteed life insurance is your best move and with no health questions or medical exam it will certainly be the least invasive to your privacy. Here are some reliable and reputed companies who write policies for guaranteed issue life insurance.
In the end, you can choose between the companies and policies provided to see which one is the best for your needs. Life insurance for HIV is not only possible, in many cases it is affordable and provides the basic coverage you need to ensure burial expenses and even covering family finances during this very difficult time in their lives.