There is nothing quite like fighting the good fight and getting your butt handed to you. While we’ve been able to provide life insurance for business purposes to HIV+ CEO’s and executives for years through Lloyds of London, anyone who has followed this forum for any length of time has seen me bloodied, stomped on and fired trying to get traditional life insurance approval for those HIV+ folks that need it for the same reason as someone who isn’t HIV+, the unexpected.
Earlier detection and super advanced anti retro viral drug treatment hasn’t rendered HIV+ completely toothless because there is still the human factor. Think of it in the context of someone with type 1 diabetes. If they are compliant with their treatment and monitoring the can lead a long and healthy life. But if they’re sloppy about it, well, type 1 diabetes can start a downward health spiral that often can’t be reversed. The same with mismanaged or poorly managed HIV, the downward spiral being AIDS.
But poorly managed impairments of any kind aren’t what life insurance underwriters are looking for and when it comes to HIV+ the criteria are very clear and not meeting them doesn’t just mean you won’t be approved, but at least through this agent you won’t even apply. I know that may sound a little selective on my part, but the underwriters have made it clear that close doesn’t count but approvals come when all criteria are met. And great news, with this advance comes the opportunity to not only get business life insurance approved, but personal life insurance as well. And instead of being annually renewable term a client can purchase life insurance with guaranteed level premiums for a certain period or for life.
So, for this CEO to finally get the life insurance he’s been wanting for his family, one of the first to be approved, we approached it cautiously making sure criteria were met at each step in the process. The pre-application process wasn’t a lot different than a lot of impaired risk clients I work with. If there is any chance that a client might be just barely on the wrong side of a requirement, I wait for them to produce labs from their infectious disease doctor so that we can move ahead knowing the the viral load is undetectable and not just barely detectable. We want to know that any other health issues you’ve had are minor and couldn’t be construed as a co-morbidity issue.
Bottom line. HIV+ will likely be underwritten with an abundance of caution for quite some time and that’s good. When they have a large block of HIV+ cases to review they will be able to know where guidelines might be loosened or if prices might come down. If you have questions or want to review the criteria (not debate), call or email me directly. My name is Ed Hinerman. Let’s talk.