Life insurance for HIV positive

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PostPosted: Tue May 21, 2013 10:34 pm   Post subject: Life insurance for HIV positive  

I need life insurance for my husband that is HIV positive.

clinda1957
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PostPosted: Wed May 22, 2013 6:33 am   Post subject:   

Sorry to hear about your husband. Anyway, getting life insurance coverage for HIV positives is no more a myth. Though having HIV will make availing a policy difficult, there are several options to choose from one.



One such option for HIV positive people is High Risk Life Insurance and it'll be a Guaranteed Issue Life Insurance Plan. Usually, the premiums are high for life insurance policy for HIV positive people. But if you get one as soon as you contract the disease, the premiums would be relatively cheaper.



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PostPosted: Wed May 22, 2013 2:39 pm   Post subject:   

Quote:
One such option for HIV positive people


What was not stated in the response above is that these policies do little more than provide up to $25,000 to $50,000. They tend to have "graded" death benefits -- that is, death in the first 2-3 years of the policy will not result in a payment of the full death benefit amount.



Insurers are specifically enabled under most states' laws to choose not to cover persons diagnosed as HIV-positive. It is not a discriminatory business practice as long as they apply a uniform method of underwriting.


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PostPosted: Thu May 23, 2013 4:45 pm   Post subject:   

The "problem" with being HIV+, but not having AIDS, is that one can probably only get a guaranteed issue policy, but a guaranteed issue policy ends up being a bad deal if death is longer than 8-10 years (give or take) into the future.


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PostPosted: Thu May 23, 2013 6:43 pm   Post subject:   

Quote:
but a guaranteed issue policy ends up being a bad deal if death is longer than 8-10 years (give or take) into the future.
I am in complete agreement with this statement. What was not said is that the premiums are generally so high that living beyond about 10 years will mean paying more in premiums than the policy will pay as a death benefit.



If that's the case, putting the same amount of money in a shoe box under the bed each month will do a better job in those same ten years.


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CA-licensed Life & Disability Analyst. CA Insurance Lic #0596197. Also investigating insurance company abuses, and providing litigation support/expert witness services. Send me your questions, and I'll send you my answers.
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MaxHerr
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