News & Views

Obtaining Life Insurance and other Insurance with HIV

Moneysworth specialises in finding life insurance and other forms of protection for people who might be considered higher risk or who may have been declined when they made applications via other brokers.

This includes arranging cover for people who have tested positive for HIV. 

It’s also not that unusual for us to be able to help clients with a history of HIV, as we succeeded here on nine separate occasions in the three-month period from March to May 2023. It should be noted that as many as four different insurers offered terms to our clients in these cases. If you try hard enough, it’s often possible to obtain cover, and you don’t always need to confine your search to one or two specialist providers either.

It’s not just life insurance we can help with either, as we have also been successful in obtaining income protection insurance – policies that pay a replacement income if you can’t work due to accident or sickness – for people with HIV.

Medical advances in this area have been remarkable, and now many people living with HIV can enjoy long, healthy lives. Insurance companies are therefore much more willing to offer cover to people with HIV than was previously the case.

When you apply, the insurer is likely to want to know when you were diagnosed with HIV, and some additional medical details, such as your viral load, CD4 count and any medication you have been prescribed.

Successful outcomes for Moneysworth clients with a history of HIV for the period between March and May 2023 include:

46-year-old man

• Diagnosed 2015
• Taking two forms of medication for the condition
• Offer was for £358,000 of decreasing life cover over 29 years for £32.28 per month. This was 50% higher than their standard premium
• At least two other insurers were prepared to offer cover

34-year-old man

• Diagnosed 2015
• Taking one medication on a regular basis for HIV
• Offer was for £250,000 of level term life cover over 50 years at £55.66 per month, around double the insurer’s normal premium. Much of this premium rating was due to his high BMI

46-year-old woman

• Diagnosed 2004
• Taking two forms of medication for the condition
• Her offer was for income protection insurance with a monthly benefit of £1,500.00, a deferred period of 13 weeks and a term taking her to age 67. The monthly premium was £50, which was only slightly higher than the insurer’s standard premium

28-year-old woman

• Diagnosed 2018
• Taking two forms of medication for the condition
• Offer was for £180,000 of decreasing term life cover with a term of 30 years and a premium of £10.78 per month. This was £3.59 higher than the insurer’s normal premium for a female client of this age

Moneysworth boasts a highly skilled and experienced team who know the best approaches to take when dealing with clients who have a history of HIV and other medical conditions. 

We are whole-of-market brokers and can consider all insurers in the marketplace. This means that there is a better chance of obtaining competitive life cover than is the case were you to approach a broker who uses a limited panel of providers.

Contact us today and see how we can help you.