By Chris Morgan
Throughout the last 10 years, since the launch of HIV Life Assurance in 2009, I have seen a number of changes in the way that Life Insurance cover has been offered to applicants living with HIV. The original policies offered between 2009 to 2013 were for limited terms only of between 5 and 10 years.
Between 2003 and 2004 Life Insurance Companies in the UK started to offer applicants longer terms of between 20 and 25 years, which of course were much more suitable for people protecting their families and mortgages. This led to an increase in the popularity of HIV Life Assurance.
Fast forward to the 10 year anniversary of HIV life Insurance products and we are now seeing significantly lower premiums being offered to applicants. This is due to the latest statistics relating to HAART therapy that have become more available to insurers, giving them more confidence relating to the potential claims experience within the policies they are offering.
So much so that with this “Third Generation” of products, insurers are offering lower premiums and better terms than ever before for people living with HIV. For two groups of people this is a very welcome change and they should be seeking professional advice from specialists like Unusual Risks.
- For those who already have cover, it would certainly be worth reviewing their policy as they may be able to get either more cover for their money or be able to reduce their current premiums. Either way this is a significant development for the consumer
- For those seeking new cover, they have more choices and better policy options like never before. Consumers previously may have had to compromise on their levels of cover, or their options restricted due to budget.
Applicants are now able to look at higher amounts of cover to meet their needs, which means more protection for families and mortgages. However, what still hasn’t changed is the very complex nature of the medical information required and underwriting requirements of insurers.
In fact, due to product pricing changes and insurers tightening their belts ahead of Brexit, the product is still as difficult to obtain as ever before. Applicants should seek advice from HIV life Assurance specialists Unusual Risks, as it was ourselves that led the campaign to secure Life Assurance for people living with HIV in the UK.
Many of you will be aware I’ve consulted with the Insurance industry on these issues for 20 years and it was my campaign secured the introduction of Life Assurance for people living with HIV in the UK. Two decades of experience in this field means that you have access to advice to the very best advice.
No financial adviser in the UK has more knowledge of HIV Life Assurance!
Unusual Risks are the UK’s leading financial advisers offering advice to clients living with HIV or Hepatitis on HIV Life Assurance, HIV Life Insurance, HIV Mortgages, Hepatitis C Life Assurance, Hepatitis C Life Insurance, Hepatitis C Mortgages.
They are also the UK’s leading experts at planning Life Assurance and Mortgages for HIV Positive Families and are able to assist HIV Positive people looking for advice on their Pensions and Investments.
For more information about these services please contact Unusual Risks Mortgage & Insurance Services by phone 0845 474 3075. Email Enquiries@unusualrisks.co.uk or visit us online at http://www.unusualrisks.co.uk/