Is Life Insurance for HIV Sufferers Too High?
Unusual Risks – the UK based medical financial advice group is attempting to get life insurance companies to pay more attention to the way they treat individuals who are suffering with the HIV virus. They recently carried out a survey which looked at how life insurance providers in the UK behave towards people with HIV, and discovered that only four out of the UKs largest life insurance companies offer life cover for this group.
Only the Top Four Life Insurance Companies in the UK offer Life Insurance to Aids Sufferers
Just Zurich, Scottish Provident, Prudential and Fortis currently give life coverage to HIV sufferers and that out of these four just the Prudential could be said to offer competitive life insurance cover premiums. The researchers offered the big four insurers the opportunity to provide cover for a ‘test case’ HIV sufferer, and found that only two companies – Zurich and Prudential were prepared to take the presented individual on. Zurich quoted life cover of £10 per £1000, and Prudential £5 for every British £1000.
Life Insurers not clear about how much Premiums should be
According to Chris Morgan, the Marketing Director at Unusual Risks “What you have got is companies coming to the market on a pot shot, trying to take a bit of the market and get some claim experience at the expense of the client.”
When asked for a response to the these research findings a spokesperson for Fortis asserted that it was not Fortis’ policy to routinely turn down people with existing medical conditions and that they always took every case on merit.
Phil Brown, Head of Underwriting and Claims at Zurich UK Life stated “the insurability of HIV-positive customers is still in its infancy and as such our position is to continue to assess each applicant on their own merits, considering the many aspects of risk involved.”
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