While it would be nice to think you could read headlines like, “New Drug Cure Hepatitis C Completely”, and know that the next headline coming would be, “Life Insurance Companies Give Best Rate Class To Those Cured Of Hep C”, don’t hold your breath. First of all the cure of Hep C, while true, is so insanely expensive that health insurance companies are only approving its’ use in those whose lives are imminently at risk, those with end stage liver disease for instance.
That’s the good/bad news for that end of the spectrum, but what about those who have Hep C, are doing all they can to control it, but can’t cure it with anything but an end stage diagnosis or a wad of cash in their pocket? There’s actually some life insurance rate relief in sight. Where well controlled Hep C has been insurable in the past, depending on the severity and type of treatment, at standard rate classes, there are a few life insurance companies that are proactively giving as good as standard plus and preferred rates. They do this based on the knowledge that if the Hep C condition goes South, there is now a cure. It may not be used until things go South, but at that point the companies and clients know that they are looking at a cure, not just another battle or a slowing of the progression.
So, while we will never see any full pardon for the past medical history, no more than we would for a past brush with type 2 diabetes or for (one of my pet peeves) past asthma treatment, we will see improvement and anything gained is better than nothing gained. Speaking of gained, but ignored for the most part by those who would gain the most, the insureds, where are all of those HIV positive folks out there that have claimed to be in such fabulous health? One pill a day and they are no different than you and me! Well, in the spirit of mythbusters I am about to call that one busted.
We have clearly stated for a few years now that there are companies that will approve HIV+ under certain criteria. One of those criteria is that there are no other serious health condition’s history and yet the last two that wanted me to go to bat for them had current COPD and arrhythmia. What’s with that? It clearly states approveable ages and I constantly get inquiries outside of those guidelines. It clearly states that smoking increases health risks with HIV+, but a client who didn’t tell me (but told the examiner) that he smoked, was offended when he was rated higher and as a smoker. So, again, what’s with that? We have several companies willing to underwrite up to $2mm to $4mm term life insurance and permanent life insurance for HIV+, but they aren’t and shouldn’t cut any slack. I can’t believe that high net worth HIV (truly healthy) clients are leaping all over this. So if you’re truly, verifiable healthy and need life insurance with HIV, it’s there.
Bottom line. On HIV, let’s just get real. If you qualify and you can afford it and you don’t come forward and add some interest to this issue and offer, poof, it’s going to go away. This is a tough pill (one a day, right) for the life insurance companies to swallow anyway. If there isn’t any genuine interest you lose the agents and then you lose the companies and then you’ve lost the opportunity. If you have questions or need more information please call or email me directly. My name is Ed Hinerman. Let’s talk.