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HIV and Life Insurance

HIV and Life Insurance protection

Over the many years since the discovery of HIV. Many people have made the common misconception that Life Insurance is unavailable. However, this could not be further from the reality.

Following a diagnosis for HIV, many people have reached the conclusion that their Life Insurance policy will now be invalid. While other people who may have applied for Life Cover, decided against a policy because they have deemed it unnecessary to even apply because of their HIV diagnosis.

In today’s guide we take a closer look at some of the circumstances. Where Life Insurance policies can be put in place for HIV patients in the UK. Including why making the conclusions as detailed above is not the best solution.

Today We Look At:

Can I Get Life Insurance If I Am Diagnosed With HIV?

Will My Life Insurance Be Cancelled If I Am Diagnosed As HIV Positive?

Will My Policy Pay-out?

Do Life Insurance Companies Test For HIV?

Can I Get Life Insurance Protection If I Have AIDS?

Compare Different Policies With Life Insurance Cover

HIV and Life Insurance

Can I Get Life Insurance If I Am Diagnosed With HIV?

Yes you can get Life Insurance protection with a HIV diagnosis. Despite what has often been misunderstood, it is possible to get long term protection policy. HIV (human immunodeficiency virus) is currently a disease without an absolute cure unlike many other conditions. However, due to many years of significant advances in medical research. HIV can now be treated in the same way as many other pre-existing conditions which require ongoing medication.

It is important to note that getting a Life Insurance policy for people who have been diagnosed as HIV positive. Is not as easy when compared to people without any medical conditions. This could mean some protection products may only be available as an impaired policy with an increased monthly premium.

During the application process which is exactly the same as many other pre-existing conditions. Including diabetes, heart disease or cancer, an insurer will need to understand condition how it impact your health.

An insurer will ask a few questions which will include:

When were you diagnosed as HIV positive?

What is your current treatment plan?

How well is your immune system functioning, including your CD4 count?

Do you know your current viral load?

Any previous history of hepatitis or drug use?

If you have recently been diagnosed with HIV, it is extremely likely that most insurers will defer any decision on your Life Insurance application for a little while. Some insurers might defer their decision for up to twelve months to see how well you react to your treatment. It is important to understand that an insurer will not collect information about your sexual orientation. Or other irrelevant information as this will not influence their decision.

Depending on the severity of condition or the stage of your illness will determine the type of policy. Amount of cover and length of term you can be offered by an insurer. This will be determined by an insurers internal assessment criteria. Because a diagnosis of HIV will be classed as a pre-existing condition or impairment. Your monthly premium will be slightly higher. However, it is possible for someone with HIV to have the same amount of Life Insurance protection. As someone who does not have any medical conditions.

If you have recently been diagnosed with HIV and unsure where to start in your search for a long term protection policy. It is beneficial to use an FCA regulated broker like Life Insurance Cover. Who can search and compare all of the different insurers for you. Helping you to compare all of the different options available to you and your family.

Will My Life Insurance Be Cancelled If I Am Diagnosed As HIV Positive?

If you are diagnosed with HIV during the term of an existing Life Insurance policy. The first thing to do is check the terms and conditions of your policy to confirm if there are any exclusions for a HIV diagnoses. If you are unable to find any specific exclusions in relation to your medical condition. It will likely to be protected by the existing policy. You are under no obligation to disclose this to your insurer as the terms were set and agreed when you initially purchased your life cover.

It is important to remember that if your current policy provides protection for your condition. Any new polices that you look to purchase will include your diagnosis as a pre-existing condition. Therefore it is important to try and retain your current policy and not miss any payments or cancel it.

Will My Policy Pay-out?

Yes, in its simplest terms, if you were to pass away due to HIV as the cause of death a Life Insurance policy would make a claim payment to your family and loved ones. The only caveat would be if it has been specifically excluded from your policy as detailed with the terms and conditions.  

If you’re chosen profession or work place puts you in a position where there may be an increased risk of exposure to HIV infection. Including medical professionals, armed forces or other emergency services. You may want to review your current Life Insurance protection to make sure that you are protected.

If you would like help in reviewing your current protection policies. Simply get in touch with our specialist team and they will help you make sure that you are protected for the future.

HIV and Life Insurance Cover

Do Life Insurance Companies Test For HIV?

No, not for every application for a Life Insurance policy. Occasionally a new policy application from an insurer will randomly ask for a HIV test to be completed. A Life Insurance company will usually ask for extensive testing to be completed if a person requests a large amounts of cover. Or if any lifestyle choices or medical history declared on the application suggests that a test may be necessary. This can include previous drug use, extensive international travel or ongoing blood related conditions.

All of the costs associated with a HIV test would be paid for by the insurer. If you have declared your diagnosis for HIV, you would not typically be asked to take a further test. Any medical information they will require, will be requested from your GP or specialists.

Can I Get Life Insurance Protection If I Have AIDS?

As with HIV and any other medical condition. If you are diagnosed with AIDS during the term of an ongoing Life Insurance policy. If you are unable to find any valid policy exclusions within your terms and conditions, then your policy will remain valid. A new Life Insurance application would be much more difficult to obtain from UK insurers.

However, there are different options available for people who have been diagnosed with AIDS. One such policy type would be a guaranteed life insurance plan. This is usually referred to as an over 50s plan, insurers do not have any medical underwriting or health questionnaires. This means that if you are unable to get a standard or impaired policy, you can still get Life Cover regardless of whether you suffer from either HIV or AIDS.

Compare Different Policies With Life Insurance Cover

Searching and finding Life Insurance cover can be quite hard to find for many people with ongoing medical conditions. By using our free no obligation quote and search system, Life Insurance Cover can help you find the best policy for you. Our experienced team have many years of specialist knowledge, helping you to compare all of the providers. Finding cost effective protection for the future.