Get life insurance if you are HIV positive

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Get life insurance if you have HIV

When creating a financial plan, purchasing life insurance is of utmost importance. However, it can be difficult to find a carrier that will cover you if you are HIV+. Let’s take a look at some ways to get life insurance if you have HIV. In the meantime, get your free copy 5 building blocks for a happy gay life Here.

Can I get life insurance if I have HIV?
Yes, you can get life insurance if you are HIV positive, but there are restrictions. Even if you can get life insurance as an HIV-positive person, it is an incredibly difficult task. When Sa El spoke to us a few years ago, he mentioned that John Hancock was the only carrier that offered insurance coverage to people with HIV.

When I contacted a list of 10 insurance companies, several of them told me outright that if someone has HIV they would be automatically denied. Even the few companies that offer life insurance for HIV-positive people have strict requirements. For example, Sa mentioned the fact that if you had another health problem such as diabetes, it would be grounds for denying you coverage. With this in mind, you have a few options for getting life insurance with HIV.

Learn how to get life insurance if you have HIV here Queer money® Podcast:

The 4 Best Life Insurance Options If You Are HIV Positive
1. Group life insurance through an employer
Group insurance is a policy taken out for a group. A medical examination is not required.

For example, my job offers me $25,000 in free life and accidental death and dismemberment insurance. While this policy is enough to bury me, it would not be enough to replace my income if I had children and/or dependents. Plus, I wouldn’t be able to take this coverage with me if I were laid off or laid off.

For this reason, Sa El recommends never relying on your employer’s insurance. Even if you plan to retire from your job, you shouldn’t expect to keep this benefit. At my place of work, the life insurance amount drops from $25,000 to $5,000 when you retire.

2. Life insurance without examination

Exam-free life insurance is similar to group life insurance in that you are not required to undergo a physical exam or have blood tests done. However, as Sa mentioned in the podcast, your medical records will be confiscated. One of Sa’s audit-free products mentioned in the show is called “Simplified Issue Insurance.” This option will not access your medical records. You will receive an answer immediately.

Accordingly AssureWith simplified problem insurance, you will still be asked a few questions, and if you sign the application, they will be given permission to view your health information through the Medical Information Bureau database. According to my research, insurance policies without audit coverage can have higher coverage amounts. There appears to be no limit to the amount of coverage you can get.

However, keep in mind that if you apply for HIV coverage without testing, insurance companies will have two or more years to dispute your claim in the event of your death. As Sa mentioned, this could be a good option for those who don’t know whether they have HIV or another health condition.

3. Final Expense Life Insurance

Final expense life insurance is insurance coverage to cover your funeral expenses. Typically, it is purchased by older people for whom life insurance premiums are too expensive. Accordingly InvestopediaThe payout is usually between $2,000 and $50,000. While this insurance probably won’t be enough to take care of your loved ones when you’re gone, it will minimize the amount they’ll have to pay out of pocket for funeral costs.

4. Guaranteed life insurance

Guaranteed life insurance is permanent life insurance that is very similar to final expense life insurance, except that it does not expire – it is guaranteed for the entire duration of your life. With this option, you don’t have to worry about obtaining your medical records, taking an exam, or answering health questions. Like final cost insurance, it doesn’t offer you much protection. According to Forbes, coverage typically maxes out at $25,000.

What requirements do insurers require when taking out life insurance?

1. Ages 30-65
2. Monitored by a qualified doctor
3. At least five years of compliance (no treatment errors)
4. A CD4 count of 350 cells/mm3 or more for at least two years
5. Current CD4 count
6. Current negative hepatitis B and C tests
7. Current and previous two years viral load
8. Undetectable at <20 copies/mL or below current laboratory limit

How to get life insurance if you have HIV

Where can you apply for life insurance with HIV?

To apply for life insurance with HIV, you should do one of the following:

Does life insurance cost more for HIV-positive people?

Yes, life insurance for people with HIV will cost more. How much more? Here’s what Sa El had to say when we spoke to him Queer money® Podcast: “If you’re approved for this coverage, you won’t get approved at a low price. The rate can be anywhere from 250% to 400% higher.”

If you are approved for this coverage, you will not be approved for a low rate. The rate can be between 250% and 400% higher. – Sa El from Simply InsuranceClick to tweet

Given that the average monthly life insurance cost for non-smokers is $29.80 per month, it says Value penguinthat would mean you could expect to spend between $74.50 and $119.20 per month. While this amount may seem high, remember that you are not purchasing life insurance for yourself.

Sa El encourages you to “remember that you are buying life insurance for those you leave behind.” Do you feel comfortable knowing your loved ones will be taken care of when you are gone? This is a decision you have to make for yourself.

Find out why all queer people need life insurance here Queer money®:

For further help from Haven Life, Click on this link here.

You can find more information about your 360 financial plan here:

This was originally a guest post by Sa El, co-founder and CEO of Simply insurance. Sa is a licensed life and health insurance broker with over nine years of experience in the industry.

This has since been edited and updated by Jerry Brown, the mastermind behind the blog Unparalleled Money Mentor. When he’s not reading thought-provoking books or studying finance, he’s spending time with family, riding his bike, or going on a random adventure somewhere.

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