How HIV & AIDS Affect Life Insurance

For people diagnosed as being HIV positive or with AIDS, finding reasonable, affordable life insurance can be very challenging. In the past, these conditions could completely prevent someone from obtaining any coverage at all, and at incredibly high prices in rare cases of approval. As with any medical condition, HIV certainly adds some limits in your policy, but a lot has changed in the last few years, and finding a plan that fits your needs is no longer out of the question!

Types Of Insurance Policies

A number of factors will have an effect on your approval for a given plan, such as your age, overall health, and any existing health problems. Based on these things, each company will offer different levels of coverage that range from “sub standard” to “preferred plus” or something similar.

You will usually be given one or more plan choices, each one available for higher cost, or in some cases you will be denied from qualifying at all. HIV, AIDS, and other conditions typically result in higher monthly costs for similar plans when compared with a healthy individual. In some instances costs may be three to five times higher for the same plan.

Getting Approved With HIV

Buying coverage on your own, while possible, can often be the most difficult to get. You may still have other choices when looking for life insurance coverage, even with the HIV virus or other factors. Some types of insurance plans available:

  • Group Life Insurance – Plans that are offered through your employer are often provided at “group” rates to all employees. Check with your HR representative to see if your company includes life insurance coverage.
  • Critical Illness Plans – This is a special type of insurer that offers coverage made for those people who are facing a critical illness. Terms and benefits will vary from company to company, and many will ask you to have a medical exam, but this could provide an effective solution.
  • Guaranteed Issue Insurance – Some policy providers offer “guaranteed acceptance” plans. These usually do not include any medical exam or health questions, and are available to anyone, but have higher premiums and more limited benefits.
  • High Risk Providers – Several companies cater specifically to persons with severe health problems, such as HIV. Like most of the other options, coverage differs slightly from simple life insurance, but may offer benefits that better fit your situation and needs.

The Future Of HIV Life Insurance

Although new cases of HIV and AIDS has declined from the increasing rates of the ‘80’s, the total number of Americans living with HIV is still growing. Between 1 and 2 million Americans are currently infected, with an estimated 18% unaware they are HIV positive. Because of the short history and limited data on the virus, many companies simply do not have the understanding to change their plans.

As treatments and viral suppression care improves, however, we can expect insurance availability will reflect the increasingly positive outlooks. Even without a full cure, life expectancy and quality of life continue improving, reducing the risk to insurers. We hope to see life insurance policies become more and more accessible in the future.

Should I Disclose My HIV Status To Insurers?

As technology and information sharing become more and more advanced, insurance companies have access to our medical history and related data at a higher rate than ever before. Common advice suggests that if you are not asked about specific health concerns, you should not bring them up yourself. This, however, can lead to a gray area in many cases, and could mean that you can’t receive insurance benefits in the future. We recommend that you are honest up-front whenever possible to avoid complications.

Find A Life Insurance Provider Regardless Of Your HIV Status

Term Life Insurance was made to help you find the right coverage at the right price, without endless hours of work and searching. If you are HIV positive, you can still qualify for a plan to protect your loved ones. Getting a quote is simple: start here to begin exploring your life insurance coverage options!