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80% of HIV+ people unaware they can buy life assurance

Medical financial advisors are urging people to buy life insurance
Chris Morgan, a gay HIV insurance activist, is urging people living with HIV to buy life insurance.

80% of people who are living with HIV in the UK are unaware they can buy life assurance, according to research conducted by medical financial advisors.

Unusual Risks, a mortgage and insurance service, have found 80% of HIV positive people are unaware they can purchase life assurance and 82% of people have no insurance at all.

HIV Life Assurance was introduced by the insurance industry in 2009 after over a decade of campaigning from the gay HIV insurance activist Chris Morgan.

He said: ‘We have to remember that people living with HIV have been told by the insurance industry that they can’t have life assurance for nearly two decades.’

In November 2011 it was established that 50% of Insurance providers in the UK now offer Life Assurance to cover people living with HIV.

If people have life insurance policy when they pass away, the family can receive a pay-out that could help them cover costs from funeral arrangements to mortgage payments.

Morgan added: ’Twelve years ago when I started campaigning for this product to be available, the dream was for people living with HIV to be able to buy Life Assurance in the same way as any other applicant.’

LGBT groups have long criticised life assurance policies for people living with HIV for having greater premiums and harsher terms of conditions.

Morgan said that had improved, saying as a number of new companies have entered the market since 2009; it has created a greater competitive marketplace.  

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