How Can HIV Affect Your Life Insurance Policy?


A while back, many people resulted in canceling their insurance policies the moment they discovered that they had HIV. This behavior stemmed from the belief that their insurance covers were invalid based on their disease. However, this is not the case as HIV is treated similarly with other health conditions and as such, should you get infected with this virus, your cover remains valid.


The benefits of life insurance

When you die, a life insurance cover enables your beneficiaries to receive a lump sum of money to help them out with their financial obligations. The money gained from your life insurance policy can also be paid out as monthly premiums. You can see just how vital such a plan is to you and your loved ones.

HIV after taking out a cover

Do life insurance policies cover HIV?

According to Life Insurance Guideline, most life insurance companies do not exclude medical conditions that are discovered way after you take up an insurance policy. HIV falls into the category of these medical conditions, and if you get infected along the way, your cover is not affected. However, it is essential that you carefully go through the terms of your protection to ensure that this is the case.

If you wish to cancel your cover on discovering that you are HIV positive, check with your insurer first. In most cases, the cost of a new policy will be much higher than what you are currently paying. This increase in price is because HIV puts you at a risk of acquiring other diseases and as such, the danger to the insurance company escalates.

Speaking to your insurer about your condition enables you to assess the options available to you. Such an assessment will allow you to figure out the best way forward: to cancel the policy or to forge on.

Is there a need for disclosure of my status?


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Once you take up a policy, you are not obliged to tell your insurer about any medical conditions that you will suffer from during the duration of your agreement. The cover remains valid up until you cancel it or when the cover pays out as per the terms of the contract. The diagnosis of HIV should not in any way affect the premiums owed.

To ensure that you do not invalidate your policy, make sure that your payments are in line with your contract. If you fail to adhere to the stipulated terms, you are at a risk of having to re-apply for a policy.

HIV before policy application

Can I get insurance when I am HIV positive?

The answer is yes. You will get treatment that is similar to what people with pre-existing conditions get. Though the premiums you are subject to will be higher as compared to those of HIV negative people and you will miss out on some insurance options, there are various life insurance packages in store for you.

What is needed?

A preliminary examination will be conducted to figure out the likelihood of you making a claim and the potential amount that you can claim. This assessment involves asking you questions about your medical history. The most important thing at this stage is honesty. If you lie about your HIV status at this point, it invalidates your policy.

Do not cancel your life insurance policy when you get diagnosed with HIV. Instead, engage the help of your insurer to find out what is the best package for you.