Now that’s what I’ve been talking about for years. For every effort and struggle I’ve gone through on behalf of fair life insurance treatment for HIV+ clients, you, the clients, have been the people that have suffered for so long. Unable to provide life insurance for your families because of the bias and care less attitude of life insurance companies, you have met with declines and underwriting abuse for no good medical or mortality reason. The problem has been horribly exacerbated by Prudential and John Hancock lulling the market into believing that their life insurance rates are fair when they know damn good and and well that the rates they are offering are  a complete rip off, a slap in the face to every client that has taken good care  of themselves and has a life expectancy that may even surpass that of the average life insurance client.

But now, even while Prudential and John Hancock continue to mete out disappointing underwriting and, even when they occasionally offer a miracle approval, rates that honestly reflect someone on their death bed, a new company has stepped up and gone where none of the life insurance companies have gone before. Just in the last 2 years John Hancock and Prudential have presented what they claimed was a golden opportunity for HIV+ life insurance. Unfortunately they failed to mention that they would decline clients for no real reason and if they did a rare application that the client would be charged rates that were a golden opportunity for the insurance company, not the client. They would only offer up to $2 million that, while better than anything previously, was far short of what many of my clients needed. In Prudential’s case they wouldn’t even offer their longer terms, making planning for the future something of a joke.

Now comes, at long last, an offering that is a home run compared to all the foul balls of the past. We can now offer up to $10 million with all of this company’s products available and the underwriting criteria that are clear and understandable. The prices are less than half of what Pru and Hancock are offering and the company (I failed to mention they are one of the largest in the world) has promised to consider even lower rates in the future as they build a base of HIV+ life insurance clients from which to draw actuarial data from. It occurred to me today that while I’ve shown some of the new pricing, and told you that it was half the cost of the competition, I haven’t shown you the actual comparative quotes. So here I go with a 40 year old guy who needs to $500,000 of 20 year term to protect his family. This guy meets all of the guidelines. Ladies, I know I always quote guys, or at least usually, but that’s because your life insurance will cost less and after 18 years in the business I’m still mad about that. Yes you outlive us and in most cases make much better choices than us, but…… So I am going to compare Prudential, John Hancock and our newest company in the mix, Company A.

  1. Prudential for $500,000 of guaranteed level premium 20 year term with a conversion option……$4041 annually (if they offered a 20 year term, but they don’t)
  2. John Hancock for $500,000 of guaranteed level premium 20 year term with a conversion option…….$3581 annually
  3. Company A for $500,000 of guaranteed level premium 20 year term with a conversion option…….$1790 annually

These companies are all A+ rated. When I get around to naming Company A you will recognize all three names. These are well known and well respected (except 1 and 2 in the HIV community). Half price for exactly the same product. Pru and Hancock will step up to the plate one of these days and compete, but I for one will not forget the two years that they mistreated this niche with secret underwriting and huge prices.

Bottom line. An opportunity is here and now is the time to move. Please remember that the guidelines are set in stone, but remember that Company A is going where no Life insurance company has gone before and in order to manage their risk pool they have to be tough on guidelines. But remember also that these are the same guidelines that Pru and Hancock have used for the last two years. Let’s support this bold move by a company that cares. If you have questions or would like to receive HIV life insurance quotes for your exact needs, call or email me directly. My name is Ed Hinerman. Let’s talk.

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