Life Insurance for People with HIV

[DHK]

Major Insurer Says It Will Offer Individual Life Insurance Coverage To People With HIV | Kaiser Health News

The coverage, in the form of convertible 10- or 15-year term life insurance policies, will be available to people who are HIV-positive but otherwise healthy, according to the insurer. “Convertible” term policies can be converted to permanent policies covering an entire life.

The insurer provided no further details Monday on eligibility criteria or the pricing of policies, although some insurance agents said coverage would likely be higher than for completely healthy people.

 

[HomeInsureNY]

I assume they will treat it like any other illness where they will check if it is under control and charge a lot for it. People with HIV now live longer than ever if it is taken care of. Magic Johnson is an example.

 

[tlmarketing]

If the insured qualifies for coverage with the Prudential program, the underwriting rate being offered is a Table 8 plus a permanent flat extra of $2.50/$1000. The flat carriers over if coverage is converted.

 

[Brian Anderson]

Prudential is on a major blitz this week to get this news out - just posted an article on Insurance Forums about it as well (link below). I am a little surprised it took so long for someone to take this step given the relative manageability of HIV with proper treatment today. Wonder how long before other carriers jump in. Will also be curious to see how much interest this new availability will create among the 1.2 million Americans living with HIV.

Insurance Forums | Milestone development: Prudential and ÆQUALIS join to make life insurance available to people living with HIV

 

[NinjaNic]

Very interesting that it is Prudential being first to come out with this (although I have heard Lincoln isn't talking about it, but they are doing it) since they came out with the Living Benefits virtually first as a response to the viatical settlement craze during the AIDS/HIV epidemic in the 80s and early 90s. I heard that HIV was being moved from an uninsurable condition to a chronic disease by Gen RE about 5 years ago...love that it came to fruition like they said it would.

 

[Cash]

Sweet.
So who is going to be the first one to start sponsoring Drag Queen Beauty Pageants?

I'm sure many forum members would make beautiful women.

 

[Foreverfury]

Sounds better than Kemper or Great Western, doesn't it?

 

[DHK]

Along these same lines, looks like Dave Jones is trying to get insurers to change/update underwriting decisions for those gay men who are taking medication to prevent HIV/AIDS.

Insurance Commissioner Jones opens investigation into alleged denials of life insurance policies for gay men taking HIV/AIDS prevention medications

Insurance Commissioner Jones opens investigation into alleged denials of life insurance policies for gay men taking HIV/AIDS prevention medications
News: 2018 Press Release

For Release: February 15, 2018
Media Calls Only: 916-492-3566
Email Inquiries: [email protected]
Insurance Commissioner Jones opens investigation into alleged denials of life insurance policies for gay men taking HIV/AIDS prevention medications
SACRAMENTO, Calif. — "Today I directed the California Department of Insurance to open an investigation into published reports that gay men have been denied insurance policies covering life, disability, or long-term care because they were taking medication to protect themselves from HIV/AIDS. Such denials, if they are occurring, could amount to illegal discrimination based on sexual orientation under California law, and if so, the companies doing so could be penalized. The New York Times has reported that various insurers nationwide have denied policies to gay men after learning they took Truvada to protect against HIV. The taking of medication to protect against HIV/AIDS, called pre-exposure prophylaxis (PrEP), is recommended by the Centers for Disease Control and Prevention. These denials may effectively penalize applicants based on sexual orientation. Insurers cannot choose to deny coverage based on discriminatory reasons. I encourage any California residents who believe they have been denied coverage because of PrEP to contact the California Department of Insurance by calling our toll-free Consumer Hotline at 800-927-HELP (4357) or by filing a Request for Assistance online at www.insurance.ca.gov."

- Insurance Commissioner Dave Jones

 

[suranceman]

Along these same lines, looks like Dave Jones is trying to get insurers to change/update underwriting decisions for those gay men who are taking medication to prevent HIV/AIDS.

Insurance Commissioner Jones opens investigation into alleged denials of life insurance policies for gay men taking HIV/AIDS prevention medications

That's really sad. Insurers (everyone actually) should be able to discriminate in any way they please.

 

[NewbieNewbie]

Along these same lines, looks like Dave Jones is trying to get insurers to change/update underwriting decisions for those gay men who are taking medication to prevent HIV/AIDS.

Insurance Commissioner Jones opens investigation into alleged denials of life insurance policies for gay men taking HIV/AIDS prevention medications

Interesting DHK. I have actually received a preferred plus rating for a guy on Truvada. I did not realize some carriers thought otherwise on the med.