Kemper Life Insurance For Hiv
Reserve National Insurance Company is part of the Kemper Life & Health Company.
Kemper offers a guaranteed issue whole life insurance policy as follows:
- Coverage Amounts from $2,000 $25,000
- Issue Ages 40-80
- Rates are the same for smokers and non-smokers
- There are no health questions
- The death benefit during the first two years of the policy is graded.
- The full death benefit is paid for deaths in year 3 or later.
- The premium is guaranteed never to increase.
For people looking for a small burial life insurance policy for HIV patients, this is a great option to consider.
Underwriting takes 5 7 days from the time you complete the application until we receive underwriting approval.
Other Common Uses For Final Expense Life Insurance For Hiv Positive
All of these examples are appropriate uses for Final Expense Life Insurance:
- Burial insurance plan for HIV positive
- Cremation insurance plan for HIV positive
- Funeral home insurance plan for HIV positive
- Final Expense insurance plan for HIV positive
- Prepaid funeral plan insurance for HIV positive
- Mortgage payment protection plan for HIV positive
- Mortgage payoff life insurance plan for HIV positive
- Legacy insurance gift plan to family or loved ones with HIV
- Medical or doctor bill life insurance plan for HIV positive
We can help you with any of the plans above. Your pricing will depend on your age, health, and coverage amount for each program option.
Can You Get Life Insurance If You’re Hiv Positive
Generally, life insurance companies have strict examination requirements before issuing a policy to an individual. Every person who wants life insurance will have to go through an evaluation process, called underwriting, to determine their approximate life expectancy. People who have a high risk of passing away within the coverage period are put in a higher risk class and are charged higher premiums.
Due to advances in medicine, people with HIV can live relatively normal lives and can have a life expectancy that’s comparable to those who don’t have preexisting conditions. However, the application process won’t be 100% the same as those who are not diagnosed with HIV.
Keep in mind that it’s never a good idea to withhold information about your HIV status from life insurance companies. If you do this, the insurer can cancel your policy or deny your beneficiaries the death benefit after you pass away.
Despite this, it’s good to know that life insurance companies have products designed for people with HIV. This allows you to get coverage and provide your beneficiaries with a financial cushion after you pass away.
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Does Hiv Test Affect Life Insurance
If you are asked for an HIV test for life cover before you take out a new policy, this shouldnt affect your cover or the price, unless the result is positive. If youve been asked to take a test for HIV then this shouldnt have any impact on your premiums.
The only reason why your premiums or cover may change after this type of test is if your results are positive and you did not disclose HIV on your application. Its difficult for anyone to be asked to take HIV tests so you just need to be comfortable with that before it happens.
Hiv Life Insurance Cost
Heres a quick example of a recent life cover application that weve dealt with for a customer who is HIV positive. These figures are purely a guide to show approximately how much life insurance costs for someone in a similar situation.
Mr H. was looking for life insurance for himself and his partner
Age: 49
Amount of cover: £60,000 Term: 20 years
*Premiums are accurate as of September 2020
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The Health Insurance Portability And Accountability Act
In 1996 the federal government passed into law the Health Insurance Portability and Accountability Act . HIPAA law provides eligible individuals who have recently lost their employer-sponsored group health insurance the opportunity to purchase health insurance coverage even if they have a preexisting health condition, which includes treatment for AIDS or ARC. If you meet the definition of an eligible individual, all health insurance companies and health plans that sell individual coverage must offer you health insurance regardless of your medical history. This requirement to issue insurance is called “guaranteed issue.” In order to qualify as an eligible individual, you must meet the following conditions:
- Your last health care coverage must have been under an employer sponsored group health plan, which includes COBRA or Cal-COBRA continuation coverage, for at least 18 months. This prior 18-month coverage is referred to as “creditable coverage.”
- All available COBRA or Cal-COBRA continuation coverage has been elected and exhausted. If you qualify for COBRA or Cal-COBRA you are required to accept the coverage and continue the coverage for the maximum time period allowed .
- You are not eligible for coverage under a group health plan, Medicare, Medi-Cal, and /or do not have other health insurance.
- You did not lose your most recent health coverage due to nonpayment of premium or fraud.
Underwriting Guidelines For Hiv With John Hancock
John Hancock issues both permanent and term life insurance policies for HIV patients. The minimum they will issue is $250,000. The maximum is $2,000,000 in death benefits.
They exclude the following riders when applying for a policy with HIV:
- Long Term Care Rider
To qualify for a John Hancock life insurance policy, you must meet the following criteria:
- Age 30 to 65
- State that you have HIV on your application
- Minimum of 5 years of compliance with antiretroviral therapy without any lapses or delays in your treatment regimen
- At least 2 years with your CD4 count of 350 cells / mm3, including your current CD4 count
- Your current viral load and the past two years of records must show undetectable levels
- Negative for Hepatitis B and C
John Hancock will not approve your application if any of the following conditions apply:
- New or recent diagnosis of HIV
- Any AIDS defining illness
Your rates will depend on many other factors, including the following:
- Your age at the time of application
- Date of HIV diagnosis
- Stable clinical course supported by medical documentation
- Adherence and response to Anti-Retroviral Treatment
- Absence of immunosuppression and co-morbid conditions such as diabetes or coronary artery disease
- Tobacco use
If you are looking for a second-to-die policy, the HIV-positive spouse will be rated along the guidelines below. There will be no additional rating on the HIV-negative spouse.
Possible Underwriting Outcomes
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Want To Get Sample Rates
Heres how:
Use our INSTANT LIFE INSURANCE QUOTER Select 10 or 15 year term & $100,000 or more. Choose Standard as your health class rating. Locate the quotes from Prudential, American National, Symetra, Americo & John Hancock and multiply by 200%.
A table rating simply adds approximately 25% to every table above standard. So if your health condition was a Table Rating 1 , you would add 25% to the Standard rate.
Were seeing a Table 8 rating for life insurance for HIV positive people. and with a Flat Extra.
The HIV term life options will be a significant upgrade from minimal and basic coverage that typically comes with a Guaranteed Issue policy.
Finding The Right Life Insurance For You
Getting life insurance for HIV/AIDS in Canada is possible! Working with a life insurance advisor can help you create the perfect life insurance plan and package for your needs.
At Protect Your Wealth, weve been providing expert advice for all types of life insurance, including for no medical life insurance, term life, critical illness insurance, or permanent life insurance, since 2007. As your Life Insurance broker and financial planner, we work with you to create a personalized plan for you and your family, or business that covers and meets your needs.
Contact Protect Your Wealth or call us at 1-877-654-6119 to talk to an advisor today. Were proudly based in Hamilton, and service clients across Canada in Ontario, Alberta, and British Columbia including areas such as Kitchener, Burnaby. and Ottawa.
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What Policies Are Available For People With Hiv Or Aids
If you have advanced HIV or if you have been diagnosed with AIDS, you should not give up on trying to get life insurance to provide a death benefit for the people you care about. You do have options for obtaining at least some coverage.
One option is a graded death benefit policy that phases in eligibility for the death benefit the insurance policy pays out. For example, the insurance policy may have a $100,000 death benefit.
With a graded benefit policy, your beneficiaries might receive only 25% of that or $25,000 in the first year that you are covered. In year two, the amount your beneficiaries are eligible for could go up to 50% of the benefit, or $50,000. By year three, your beneficiaries could be entitled to 75% or $75,000. Finally, after a full four years of coverage, your loved ones would be entitled to the full $100,000 death benefit.
While most people should be approved for a graded death benefit policy, you want to be realistic about whether you will live long enough to earn the full benefit for your family and whether you will live long enough to make paying premiums worthwhile.
Thanks to medical advances, many people with HIV will live much longer than four years, and these policies can make sense. But, for those with AIDS, your life expectancy may not be long enough to justify paying premiums for a policy when your family is unlikely to get the full benefits.
American National Hiv Underwriting
The following are general criteria that ANICO considers when underwriting policies:
- Antiretroviral therapy for a minimum of 6 months.
- Physician visits at least every six months.
- The virus was not acquired from intravenous drug use.
- Stable undetectable viral loads.
- CD4 counts greater than 500.
- No evidence of AIDS-defining conditions.
- There can be no history of drug abuse ever.
- No co-infection with Hepatitis B or C.
- No other significant health conditions.
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Guardian Life Insurance For People With Hiv
Guardian Life Insurance Company now offers HIV insurance coverage.
With Guardian, the types of policies available are term life insurance and whole life.
Some additional details to their HIV lifetime coverage include:
- Issue Ages Age 20 60.
- Coverage amounts
Its too early to tell if this program will be competitive.
With the low face amounts of coverage available, its possible that this may be used as burial insurance for HIV patients.
Facts About Hiv Life Insurance
HIV life insurance is now quicker, easier, and cheaper than it has ever been in the UK. This is thanks to major medical advancements and lower claims from HIV patients.
Many of our customers with HIV are skeptical about life cover which is understandable.
According to recent statistics from the National AIDS Trust, there are just over 105,000 people living with HIV in the UK. It is also estimated that approximately 94% of people have been diagnosed with HIV, so 1 in 16 people with the disease dont know theyve got HIV.
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Best Life Insurance Companies For People Living With Hiv
Although there are hundreds of life insurance companies operating in the United States, only a select group will consider an HIV-positive applicant for coverage.
The companies that do will have strict underwriting guidelines. But applicants who can demonstrate that they are on a regimented treatment plan and are managing the virus have a good shot of finding life insurance coverage at affordable rates.Several insurers offer traditional life insurance for HIV-positive applicants who demonstrate that they are properly managing the disease. A few companies offer guaranteed issue policies for applicants between age 50 and 85.
When applying for fully-underwritten life insurance , the blood drawn will be tested for a variety of antibodies including HIV.
Since life insurance rates are based on primarily on age and health, an applicant with HIV presents a higher risk and as such, the applicant will be charged a higher premium than a person without HIV.
If your employer offers group life insurance, the policy is not typically underwritten so your HIV status does not have to be disclosed.
With any life insurance product, the rates are based on the health classification of the applicant. Individuals who are shopping for life insurance with HIV will pay significantly more for their life insurance than an individual without HIV.
Underwriting Factors For Hiv Life Insurance
If you apply for a life insurance policy, you will have to answer a series of questions about your health and take a medical exam. However, the process can be a little more extensive for people living with HIV.
Here are a few of the underwriting factors that your insurer will take into account if you have HIV/AIDS:
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Questions You May Have
Check back often as we update this section frequently.
Can you get life insurance if you have HIV?
Yes, a person with HIV can get life insurance when they meet the criteria of the company they wish to apply to.
Do life insurance companies test for HIV?
All life insurance companies test for HIV when applying for term life insurance, universal life, or whole life insurance.
If you are buying a guaranteed issue policy such as AIGs or Kempers policies, there are no medical tests.
Can I get life insurance if I was declined due to HIV?
Yes, you may still qualify for life insurance even if you were declined for HIV in the past.
Let us know upfront which companies declined you.
Well review the options available for you and will help you figure out the best game plan moving forward.
If you have a partner who is HIV negative and takes pre-exposure medication, we have life insurance companies available for them as well.
Application Process For Life Insurance
The application process for life insurance can vary depending on the company, but some general steps are typically followed.
Once you have selected a life insurance policy, you must fill out an application form. This form will ask about your medical history and current health status.
HIV-positive applicants will undergo a medical exam, which may include tests to determine the current CD4 count and viral load.
The insurer will also want to know when the applicant was first diagnosed with HIV, history of Hepatitis B or Hepatitis C, and drug use. The insurance company will use this information to assess the premium rates.
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Factors Which Will Impact Your Coverage
Whenever a life insurance company underwrites a policy for a new customer, their main goal is to assess how much of a risk they are undertaking in insuring them.
To do so, they take into consideration your health, age, and lifestyle, looking to any factors which might increase their risk of paying out a policy.
The same is true when you have been diagnosed with HIV, in addition to a few specific considerations:
- Your overall health: Like any applicant, your health will be assessed. With any pre-existing condition, underwriters look to determine how you manage your illness, getting an idea of how well you are able to function with it on a day-to-day basis.
- Your age: As is the case with traditional applicants, your age will be considered when calculating quotes, weighed differently depending on the company and type of policy you seek.
- Other conditions: If you suffer from any other serious health conditions, it may impact your rates and general access to coverage.
- Treatment: With specific regard to your diagnosis, the insurance provider will look to the treatment of your condition. While your condition may be incurable, its treatability can help your likelihood of getting covered.
- Progression: Essentially, the further your illness has advanced, the less likely you are to access a traditional life insurance policy. If your HIV infection has progressed to AIDS, you may not be able to qualify for traditional coverage.
How To Get Life Insurance With Hiv/aids
Most traditional types of life insurance coverage are not available for HIV/AIDS patients, including term and permanent insurance policies.
However, given the growing demand for HIV life insurance as well as increasing life expectancy for diagnosed patients, many of the best insurance companies have created new kinds of policies specifically designed for people with HIV.
Although the death benefit offered by these new plans is limited in comparison to a traditional policy, any amount of life insurance coverage can still serve to protect your family financially.
The key to securing life insurance with HIV is knowing which alternative policies to look for.
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Does Hiv Affect Life Insurance
NO youll get the same cover if youre HIV positive as if you are not so youll still have exactly the same policy. Life insurance does not exclude anything so if youre accepted for life cover with HIV then youll be covered in the future if you die from HIV.
If youve got life insurance in place already and you get diagnosed with HIV then youll be covered and you shouldnt need to notify your insurer. Once you have cover then youll usually find that your policy will be accepted on a guaranteed terms basis which means youve got cover regardless of what happens in the future.
There are a few things to consider here so its worth checking with your insurer or speaking to an advisor if youve got any questions about it.