Insurance for HIV Patients Now Available

Life insurance for HIV patients

At one time, a diagnosis of HIV was life-threatening news since it usually meant that AIDS would follow. Thankfully medical treatments have been developed that allow people to live with HIV, which has become regarded as a chronic disease rather than a fatal illness. This good news still didn’t make insurance companies ready to insure HIV-positive people until earlier this year when Manulife made a significant announcement.

Life Insurance for HIV-Positive Canadians

In April 2016, Manulife Insurance of Waterloo, Ontario became the first company in Canada to make life insurance an option for HIV-positive men and women. Manulife studied the most recent data available for the mortality rates and long-term survival of Canadians living with HIV, and this analysis allows them to better understand the risk faced by this group of people.

“Manulife was the first insurer to underwrite people with diabetes, and we are continuing in that tradition by making life insurance a possibility for the more than 75,000 Canadians* who have tested HIV positive” said Marianne Harrison, President and Chief Executive Officer, Manulife Canada. (*as reported by the Public Health Agency of Canada)

Insurance Eligibility Factors for HIV-Positive Applicants

It makes sense that someone who is HIV-positive will pay higher premiums for insurance than someone who does not have that health risk. Actual premiums will vary according to each individual who meet the following criteria:

  • Is between the ages of 30 to 65;
  • Has been under a specialist’s care for a minimum of 5 years; and
  • Wants coverage up to $2 million for individual life insurance.

Understandably, Manulife is looking to insure those who have been adhering to their specialist’s care and keeping quite healthy.

Proud to Offer HIV-Positive Life Insurance

We are proud to represent Manulife Financial and offer their insurance products to any eligible individual. For more details or a no-obligation quote, please contact the insurance experts at Mitchell and Whale Insurance Brokers at 1-800-731-2228 or info@mitchellwhale.com. We’d be happy to help you with insurance of any kind.

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