Life Insurance and HIV Aids

Life insurance has evolved so much over the years and now extends cover to people living with HIV. Previously, people living with HIV were excluded from obtaining life cover. Blood tests were conducted to ascertain whether one has HIV or not and on this basis, those with HIV would be excluded and informed they cannot take out life insurance policies. However, as people received information about HIV and with our dynamic society, it has become possible for people living with HIV to take out life insurance as well and enjoy the benefits of knowing that their loved ones will be catered for once they are gone. This transformation and change in the insurance industry did not come easily or happen overnight.

HIV and risk

Life insurance companies can sniff high risk cases a mile away and nothing spells out high risk like HIV. For a long time, people living with HIV were considered high risk people for life insurance purposes and true to their nature of avoiding high risk like a plague, life insurers avoided and deemed HIV persons as ineligible for life insurance cover. Even with medical breakthroughs to increase life expectancy for people living with HIV, they remained ineligible to take out life insurance cover. What troubled life insurers the most has been the fact that HIV and AIDS has no cure and as such death for a person with HIV is no longer an uncertain event but a certainty. When something is certain, the risk therefore becomes quite high, rendering the person’s life uninsurable. Even with medical advancement to keep HIV under check and controlled, life insurance companies were not yet convinced. They continued to view people living with HIV as high risk and insuring their lives as a gamble they were going to lose.

Recent developments

Over the years it has become quite possible for people living with HIV to take out life insurance for their lives and loved ones, giving them peace of mind and their families something to look forward to. Some insurance companies have pioneered this very risky move and many others have followed the lead. HIV life insurance is available to people living with HIV and the premiums are affordable too. Most life insurers no longer consider one’s HIV status as a determining factor at all. Most insurers now offer a number of life insurance packages for people living with HIV. With these recent developments in the insurance industry, the stigma and marginalization of people living with HIV has been removed

HIV status not a factor when it comes to life insurance

With knowledge increasing about HIV and how to take care of one’s health and life to increase life expectancy, even when living with HIV, it has become irrelevant whether one is HIV negative or positive. Life insurance policy at affordable premiums and rates is now available to all and can be accessed by all. This move is welcomed by many who live with HIV and gives them power to take care of their loved ones and to provide for them through life cover once they are gone. While we applaud this move, society is still a long way to go towards tolerance and wide acceptance of people living with HIV. With inclusion and tolerance, stigma falls away, and the life insurance companies have proven that it is possible to adapt and tailor-make services to accommodate HIV in life insurance. The rest of society can follow suit.