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When the HIV / AIDS epidemic began to gain momentum in the 1980s, the diagnosis was considered a death sentence, with life insurance companies refusing to cover HIV-positive people for HIV.
Over time, however, a better understanding of the disease and
d Rapid medical progress has resulted in people living with HIV / AIDS now reaching an "almost normal" life expectancy, provided that the disease is identified early enough and treatment protocols are respected while maintaining a healthy diet. food and a healthy lifestyle.
According to Jonathan Elbad, founder and CEO of CompariSure, life insurance companies in South Africa have radically adapted their approach to HIV-positive applicants. "In fact, some companies have even been built on the fact that they specialize in the insurance of HIV-positive people. AllLife (founded in 2004) and AltRisk (founded in 1999, now Hollard Life) were among the first to offer coverage to HIV-positive people. "
According to Elbad, however, almost all established traditional insurers have followed suit over the last five years, adding that many people now clbadify HIV / AIDS as being in the same category as diabetes in terms of disease severity. "This shows how much the medical profession has evolved in terms of treating people living with HIV and how effective antiretroviral (ERV) drugs are in managing the disease."
This does not mean that insurers do not want to know the status of potential customers, he notes. "In general, insurers will ask claimants a series of medical, financial and lifestyle issues as part of the application process. This is known as underwriting. One of the standard medical underwriting issues is: "Have you ever been diagnosed with HIV / AIDS or are you waiting for a test result?" They will also ask you questions about your smoking status and the medical history of your family.
"It is essential that candidates be outspoken when they answer these questions because any failure to provide honest answers or the omission of information that could lead to mistake insurers can be considered fraudulent and cause subsequent rejection of applications. "
While this strict honesty policy is applied by all life insurers, Elbad says they tend to vary with respect to compliance testing and treatment protocols. "Sophisticated insurers will have membership programs designed to help HIV-positive insureds stick to their treatment plan. Some will also require the policyholder to undergo regular checks to ensure that the prescribed antiretrovirals are administered and are still effective. "
However, Elbad notes that not all HIV-positive people will be able to cover themselves. "If your CD4 count and your viral load are too low, insurers can still refuse coverage or only offer very limited coverage amounts. That's why it's so important to cover yourself while you're still healthy, regardless of your HIV status, "he says.
"As the leading independent online life insurance comparison platform in South Africa, many of the providers we work with provide coverage for HIV-positive people, so we're able to ensure that these people find the best possible coverage.
This, he says, is simply part of CompariSure's broader mission to democratize access to quality life insurance products for all South Africans. "At the moment, some insurers are able to charge exorbitant premiums for the coverage they offer because customers do not know it better, and have trouble comparing premiums and policies with other providers. on a comparable basis. CompariSure seeks to bring order and transparency to the market, helping to improve access to quality and affordable products. "
As for the future, Elbad predicts that things should only improve for HIV-positive people in this regard. "HIV / AIDS is already treated much more like other pre-existing standard chronic conditions. As treatment improves and HIV-positive people live longer and longer, the additional premiums they charge will continue to decline, "he concluded.
For more information on CompariSure, visit their website www.comparisure.co.za.
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