Enhanced life insurance service for HIV sufferers

Friday, July 16, 2010

Life insurance policies for people diagnosed with HIV are being enhanced, in line with greatly improved survival rates for the disease. Insurance companies are realising that being diagnosed with HIV no longer has the negative outlook which it once had, and modifying their life insurance policies accordingly.

Enhancements in HIV treatment and antiretroviral medication are reassuring life insurance companies that people with HIV present viable policy holder status. Attitudes are now changing towards HIV, and this is being reflected in the insurance industry. Pulse Insurance, the firm known for offering cover to people who cannot be accepted with other companies, is launching ‘Harbour’, a product specifically for people diagnosed with HIV.

The Prudential are now broadening the terms of its PruProtect life insurance cover, in order to accept people with the virus through more accurate criteria. Their policy offers £250,000 of cover over a maximum period of ten years. However, unlike the Pulse product, PruProtect ask for an in-depth medical report as one of the conditions of being accepted for their insurance.

Policies for people with the HIV virus will be subject to a number of conditions such as age restrictions and medical criteria ascertained through medical histories. However, the recent shift in attitude will be welcomed by people looking to support their families without undergoing lengthy medical enquiries.

A spokesperson from Terrence Higgins Trust, who support people with HIV and AIDS within the UK, says the charity welcomes the prospect of people with the virus finally getting access to good life insurance policies and proper levels of cover. They issued the following statement: "In the past, people with HIV have been seriously disadvantaged financially, so anything that can support their access to core financial products such as life insurance and mortgages will help."