Life insurance for HIV patients - Do such policies exist?

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PostPosted: Sun Jun 07, 2009 12:04 pm   Post subject:   

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Gary, sorry, but I think once again, this isn't going to be an issue to have a thread war.


Razz I haven't had a good thread war in soooooooo long I'm fearful my thread war skills may be eroding! WinkCool



I simply always try to separate sales talk from financial facts.



Now there's nothing wrong with sales talk as long as the financial facts are congruent with the sales talk.


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PostPosted: Mon Jun 08, 2009 10:34 am   Post subject:   

Hello Insurance Expert, if someone is young but HIV positive, would he then qualify for life insurance at standard rate?


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PostPosted: Mon Jun 08, 2009 2:14 pm   Post subject:   

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Hello Insurance Expert, if someone is young but HIV positive, would he then qualify for life insurance at standard rate?







No. The standard life expectancy for a male is roughly age 78. The standard life expectancy of someone with HIV, even if young, is significantly lower (1-5 years?) HIV is an automatic decline with all insurance carriers on underwritten policies.
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PostPosted: Mon Jun 29, 2009 6:45 pm   Post subject: Yes an HIV person can purchase Life Insurance  

I am a registered financial planner, who was asked to set up a life insurance policy for someone with HIV. It took a long time with my team doing research to find a qualified insurance company who accepts HIV prospects.



We did it! If you would like assistance in getting life insurance for someone with HIV my team and I would love to help.



Jeran (Jer-in)

jjeran10[at]gmail.com





E-mail id deactivated for your safety reason


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PostPosted: Mon Jun 29, 2009 6:48 pm   Post subject:   

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I am a registered financial planner, who was asked to set up a life insurance policy for someone with HIV. It took a long time with my team doing research to find a qualified insurance company who accepts HIV prospects.



We did it! If you would like assistance in getting life insurance for someone with HIV my team and I would love to help.



Jeran (Jer-in)

jjeran10[at]gmail.com







Is this a graded benefit plan? There is no way an underwritten life insurance policy would be issued on someone with HIV.[at]
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PostPosted: Tue Jun 30, 2009 1:54 am   Post subject:   

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No. The standard life expectancy for a male is roughly age 78. The standard life expectancy of someone with HIV, even if young, is significantly lower (1-5 years?) HIV is an automatic decline with all insurance carriers on underwritten policies.




Don't confuse being HIV + with having AIDS. The life expectancy for a young person who is HIV+ is actually more than 20 years. In the 90's, the life expectancy for someone with AIDS was less than 5 years. I assume that it is longer now, but I don't know.
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PostPosted: Tue Jun 30, 2009 2:15 am   Post subject:   

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Don't confuse being HIV + with having AIDS. The life expectancy for a young person who is HIV+ is actually more than 20 years. In the 90's, the life expectancy for someone with AIDS was less than 5 years. I assume that it is longer now, but I don't know.




Same principle....the life expectancy is cut dramatically short and the HIV could progress to AIDS at any time. Either way, there's not going to be any underwritten coverage available.

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PostPosted: Tue Jun 30, 2009 10:26 am   Post subject:   

I was commenting strictly about life expectancy. To the best of my knowledge, no company using full underwriting will insure someone with HIV.

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PostPosted: Wed Jul 08, 2009 7:39 pm   Post subject: HIV Thread  

I hear all the hoopla about whether guaranteed life is this or that. All I know is that my younger brother who is 25 is not particularly savvy about this kind of stuff and was recently diagnosed with HIV. I was referred by a close friend who told me about an insurance agent and that she might be able to help. Long and short of it is that he has 10000 whole life policy whereas if he dies in the 1st 2 yrs all the premium are refunded plus 10% and 20% on top in the 2nd year after that he has the full death benefit of the policy. In addition he has 20000 in accidental and it doubles or quadruples depending on the nature of the accident and thats good from day 1. So help me understand, if he dies say in 4 years, knowing that funerals are expensive as hell (trust me I know from experience), where am I or my family supposed to come up with 7-12 thousand dollars on the spot. As long as the money paid in is refunded with way more interest than you would get from sticking it in a bank and then provided you take you meds and follow doctors orders there should be no reason why you shouldnt live two years to receive the full death benefit. Everyone saying save and invest is just plain silly in this economy, just put something in place, would you have the same argument about car insurance or homeowner's insurance? Is you life worth more of a risk than material things? Oh and BTW my brother's coverage costs him less than 60 dollars a month so its not a fortune like previously said...This argument is silly IMHO! Stop scaring folks, HIV is enough to deal with!


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PostPosted: Thu Jul 09, 2009 2:10 am   Post subject:   

Insurance novice, the issue isn't whether he will live for 2 years. If he had AIDS instead of just being HIV+, I would would say buy the coverage.



However, a 25 year old who is HIV+ and takes care of himself can very possibly live another 25 years. If he were to invest this $60/month at 0% interest, it would equal $18,000 instead of $10,000. At 5%, it would equal $35,000. At 10%, it would equal $74,000.



If we just look at the 5% figure, he just needs to live 11 years to have more money for a funeral than he would have by having the life insurance.



The real financial problem in your case, and sorry to be so blunt, is that nobody in your family has figured out how to earn a decent amount of money. Paying for a loved one's funeral should not be a financial issue.



$60/month is a fortune for $10,000 of coverage for a 25 year old.

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PostPosted: Thu Jul 09, 2009 4:30 am   Post subject:   

To put that into perspective, a healthy 25-year-old can get $1,000,000 of coverage guaranteed for 30 years for that same $60/month. That's quite a bit more than $10,000....

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PostPosted: Fri Jul 10, 2009 1:35 pm   Post subject:   

i think yes they will but will bump up the premium...



if you are doing a job, best thing is to take your company insurance... and you will end up paying less premium as most of company insurance enroll you without medical tests



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PostPosted: Fri Jul 10, 2009 2:13 pm   Post subject:   

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i think yes they will but will bump up the premium...




You are thinking wrong.....please don't give out information that is inaccurate. Yes, if there are employer benefits available without underwriting it would be a great deal for him. If not, there isn't a company in the world that will approve an underwritten policy on someone diagnosed with HIV.
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PostPosted: Wed Jul 22, 2009 10:37 pm   Post subject: HIV  

So where does that put a person such as myself who is HIV + and who because of some mutant gene, luckily is healthy and undetectable without the use of meds? I want life insurance, but because of the HIV stigma, even thou I am considered non -reactive/progressive am denied such coverage even thou I am very healthy?


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PostPosted: Wed Jul 22, 2009 10:47 pm   Post subject:   

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So where does that put a person such as myself who is HIV + and who because of some mutant gene, luckily is healthy and undetectable without the use of meds? I want life insurance, but because of the HIV stigma, even thou I am considered non -reactive/progressive am denied such coverage even thou I am very healthy?





HIV+ is not healthy from an insurance company's standpoint even though you may feel healthy.
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