Life insurance is an essential financial plan that you must to before it’s too late. However, some people face difficulties in finding policy when they suffer from any life threatening disease. HIV (Human Immunodeficiency Virus) or AIDS is one of the most deadly diseases that don’t have any cure yet. It was not possible before to get life insurance with HIV but that days are gone.
In the United States, 1.1 million people are infected by HIV and the number is increasing every day. The most interested thing is 1 out of 7 people don’t know that he/she is living with this disease. Some people came to know that they are HIV patient when doing the medical tests for life insurance and it creates an embarrassing situation.
Can I Get Life Insurance with HIV or AIDS?
With one work, the answer is positive.
You can get life insurance even if you are living with HIV for years. It was impossible before but nowadays insurers are more flexible about this disease.
There are couples of life insurance options available for HIV patients. But, three options are popular and easy to get as well.
No Exam Life Insurance
This policy is very easy to get and as no medical exam is required, the insurer will never know about your disease. This is very simple policy but the price is expensive. As no medical exam is taken, the insurer is completely blind about your health. So, the insurer will charge a higher rate for the policy. This is the most popular life insurance for people with HIV. With this policy you can cover up to $200,000 which is good enough to cover funeral expenses as well as some debts. This can give you the financial freedom and you will get mental peach as well. Your family will get the benefit if any bad happens to you. But, it is a must that you buy the policy as early as possible. After signing the policy, the client must survive for 2 years to become eligible for the death benefits. So, the early you buy it, the better.
Critical Illness Life Insurance Policy
This is another policy that is suitable for anyone with critical illness. If you are suffering from any sickness, you can go for this policy. As HIV is a critical disease, people with HIV can ask the insurer for this policy. The coverage amount is not that much big but it is quite good to cover the final expenses and outstanding debts. You should not expect to get coverage as big as a healthy people get. You can say it is the good part among all the bad.
Why HIV Patient is a High Risk Client?
Each of the insurance company uses their own risk factor calculation system. Mainly, risky clients are elderly citizens, truck drivers, heart patients, and anyone with critical health issues. HIV is non-curable as off now. So, the chance of surviving is very lot and if the policyholder dies, the insurers have to pay the death benefit. Hence, the insurer wants to make the maximum profit with the premiums.
The Bottom Line
HIV or any other critical illness may take you to several difficulties. But, you should never give-up. You can get coverage if you check the insurers properly. There are many companies, so you can take the advantage.