Transcript for the CuraVision HIV Insurance video is at the bottom of this page.
In this video, I talk about the types of information insurers will need if you have HIV and want Life Insurance. I also discuss the potential for additional policies like Critical Illness Cover and Income Protection, when you have HIV.
Please take a look at our dedicated HIV page:
Hi. Today I'm going to talk to you about HIV and life insurance. So when you have HIV and you need life insurance, there are options for you on the standard market, and there are some specialized policies that may be of interest to you. The first thing the insurer is going to want to know is when you were diagnosed or, how long ago was that. Were you diagnosed within the UK and did you contract HIV through drug use? That's the only question they're gonna ask about how you contracted HIV, and it's because drug use is another aspect of a life insurance policy application. It's another disclosure that they would be looking for. They're going to be interested in things like, if you have any secondary conditions that are related to HIV, and also if you have anything like diabetes or high blood pressure, and if you have any illnesses like that as well, then that makes it slightly more trickier in regards to arranging the insurance, but there are still options out there for you.
If you have your original CD4 count and viral load, that is helpful for the insurer to be able to give you early on an indication of what they think possibly the premium will be for the cover. Now when you have HIV and you want life insurance, it is standard that the insurance companies will increase the premium on the policy to offset what they perceive is the risk of there being a claim on that policy at some point. It could well be as well that there will be restrictions to the amount of cover that you are allowed to insure your life for, and also for the length of the policy. It all depends upon which insurer you go for, and as I say, there are some on standard market, there are some on standard market that are very good for HIV life insurance, and some that aren't as good. So it is a good idea to speak to a broker who handles these kinds of applications on a regular basis, and knows where is the best place for you to go.
Your current CD4 count and viral load is essential to be able to be given a good indication of the premium, and it's very, very hard as a broker to be able to advise you as to which insurer to go to if we don't have information like that, and also your medications, so how much you take per day, of the different medications that you are on to treat the condition. Then once you've got that provisional premium and potential policy terms, the insurer will want to speak to your GP and consultant. Now we have it in place with some insurers that if your GP is not aware of your condition, the HIV, then what they will do when they speak to the GP, they will only ask about your health in general, they won't ask anything about the HIV, and any questions relating to the HIV will be kept to the HIV consultant. If your GP is aware, then again, they will still speak to the GP and the HIV consultant. They just want to confirm your health as it stands at the moment.
It may seem a bit of a faff on, but it is actually a really good thing to have happen, to speak to the GP and the consultant, because then at least you know that the insurer has made a decision on your health as it is as your medical professionals say that it is. There is an option as well, if you eventually go through this process, and you find that the terms on offer for life insurance just don't really suit you, or even at the beginning stage you decide the potential premiums aren't what you're looking for, then there are non medically underwritten policies that you can look for, and please do forgive me for the insurance jargon but, it is an important distinguished sort of sense I need to give you of the policy types.
So the non medically underwritten policies won't take into account the HIV when you're arranging say, HIV life insurance or a version of critical illness cover or income protection. But there are limits to these policies and again it's quite important really to speak to an insurance broker who is aware of the ins and outs of these policies, can advise you on the limits to how much you're covered for, how the premiums are dealt with in the long term, how long the policies can last for, it's all very technical and there are exclusions as well in the policies and that's the point of an insurance broker, is we are there to be there to look through all of that for you and to give you that information and to explain it properly so that you have the confidence in what you are arranging.
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