You are HIV positive and are looking for life insurance.  Until recent developments in the treatment of the virus, life insurance for people with HIV was unheard of.  Now some life insurance companies may have policies available for HIV positive people.  Life insurance for HIV patients may not be offered the same policies as people that do not have HIV, but there are opportunities available for life insurance for those with this life threatening virus. Visit this pageto learn more about critical illness life insurance.

Guaranteed Issue Policy

There is a guaranteed issue life insurance policy that some insurance companies may offer to anyone who applies with them regardless of their health, so your HIV positive status may not interfere with your life insurance coverage application. This is an advantage, but this guaranteed issue policy may also come with some downsides. There is generally a two to three year waiting period. During this time, you still have to make premium payments, which are usually expensive compared to other policies, and if you do not happen to survive this waiting period, you may not receive a benefit upon death.  Life insurance for HIV patients are generally more expensive policies and also may not offer large benefits, again compared to other policies for people without HIV.

There may be some age restrictions on these guaranteed issue policies where they may only be available to people above a certain age, like age 40 or 50, depending on the policy.  Each insurance company typically has their own guidelines in qualifying for this guaranteed issue policy. If you’re a senior who may be considering a guaranteed issue policy, visit “Seniors: Should You Choose Guaranteed Life Insurance or Term Life Insurance?”

Is it worth it?

You might be thinking, if this guaranteed issue life policy may potentially be the only life insurance for HIV positive people, is it worth the investment with all the downsides to the policy? It depends on your financial needs and your health. If you only have a couple of months to live, you may be just wasting your money without getting a death benefit at the end. Life insurance for people with HIV can be limited and expensive, so you may want to save your money in a savings account to make sure you have it for funeral expenses or for beneficiaries after you pass away.  There may be a different option or it may be more worth the investment if HIV turns into AIDS.  Either way, get quoted for a policy to see whether you may be able to find life insurance for HIV patients that could work for you.