HIV is the short term for Human Immunodeficiency Virus. This virus causes one of the non-curable and lethal diseases called acquired immune deficiency syndrome or acquired immunodeficiency syndrome. People know this disease as AIDS. Even with all the advancement of medical science, we can’t find a cure for this disease.
The worse part of this not only there is no cure for it but also it will destroy all the immunity system that defends you from the other diseases. Actually, this virus disables your ability to fight with any kind of diseases. Worst of all, it will not make you disable in a moment, it is like slow poison. It will drive you to the death very slowly and painfully. Life insurance for people with HIV is problematic in the financial sector.
When any person is diagnosed with this disease, it is like giving them or hand over them a death notice. More likely it wants to say that pains and sufferings are waiting for you. It will happen not only physically or mentally but also financially. After getting this shocking news, they start to think about the future. How your family will manage without your sources of income.
How they will handle the whole situation without you, financially. All these problems can be solved with a life insurance policy.
But there is a huge question here.
Can You Get Life Insurance with HIV?
Even before a couple of years, HIV affected people didn’t get a life insurance. Thanks to the new rule, now they can apply for regular life insurance. This injustice is happening for over a decade while other diseases like cancer, heart disease patients are getting a life insurance.
These diseases are as lethal as HIV or AIDS. If cancer or heart patients can get a life insurance, why an HIV patient can’t get one? However, this injustice has stopped after the announcement of insurance underwrites president on world aids day in 2013.
This gives a huge relief to the patients of AIDS. So, they can make a plan for their family’s or loved one’s financial future. Now, they can have something to help them in that time of need.
If you already have a life insurance and it is more than 2 years old, and you got diagnosed with AIDs or HIV, then it will make a little impact on your insurance policy as you have passed the medical exam while purchasing the policy. But if you don’t have a policy and you are diagnosed with HIV, in that case, the whole scenario gets changed completely.
Can I Get Life Insurance if I Have HIV, Not AIDS?
Yes, you can get insurance policy if you have AIDS.
There is a difference between having HIV and AIDS. If you have HIV, it means you have the virus in your body but yet not a patient. So, a person can have HIV in his body system, but he can be healthy. You cannot be healthy if you have AIDs. I know it complicated to understand. I have explained it to you in the easiest way.
AIDS is the main diseases and HIV is the virus. If you have the virus then surely you will have this diseases in next 5 or 7 years but not now. Even after diagnosed with HIV you can deal healthy life for a certain period. But AIDS is the disease. There are very limited times for you after you have AIDS in your system.
However, you can get a policy even after you have HIV. But there will be limited types of insurance offers. You have to choose wisely; otherwise, you will end on the wrong side of the deal. In other policy, you may end up with a bad situation and later get recovered from it.
There is a little chance for you to get the same in this matter. In other words, this will be the last financial policy for your family’s betterment. Hence, you have to be clear about it. Just do not jump on any policy. Learn the whole policy before you get it.
Cost of Life Insurance for People with HIV
We need to consider that HIV is a huge risk in term of physical condition. There is a close relationship between insurance and health. HIV patients are considered as high-risk clients. So, of course, the price of the premium will be higher. But also you have to understand that we are not talking about any kind diseases, it is HIV. So, you will have to pay more than 3 times of the premium than a normal healthy person. It will be a better idea that you can compare rates from us and get the cheapest policy as we have covered all the top underwriters.
Options for HIV Patients
There are no too many life insurance options for HIV patients. Sometimes you can have a life insurance through a group life insurance. This will happen when you will work in a company that provides the employee’s life insurance facilities. Then you will have a life insurance even though you have HIV.
Another option for you is guaranteed acceptance life insurance. This is the last hope for any kind of terminally sick person. In this type of insurance, you do not need to give any kind of medical information. So, you are totally safe from your physical facts. It is also known as no medical policy.
If you have other diseases with HIV then it will be a high bummer on policy. If the insurance company knows that you have other physical problems with HIV then the insurance company may reject you.