Shuman Roy is an entrepreneur, business owner, and musician. He started RoysNoys, LLC in 2013 as a music production and education service company. He also offers small business consulting and advisory services to help businesses get from start-up mode to turn-key operations. Shuman earned his M.B.A from the Stern School of Business in 2001 and has an undergraduate degree from Manhattan College in ...

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Joel Ohman is the CEO of a private equity-backed digital media company. He is a CERTIFIED FINANCIAL PLANNER™, author, angel investor, and serial entrepreneur who loves creating new things, whether books or businesses. He has also previously served as the founder and resident CFP® of a national insurance agency, Real Time Health Quotes. He has an MBA from the University of South Florida. Joel...

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Reviewed by Joel Ohman
Founder, CFP®

UPDATED: Nov 26, 2021

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The Truth in a Nutshell

  • Life insurance rates are higher for people with HIV
  • If you have HIV, it will be hard to find life insurance
  • Life insurance applications can take longer for people with HIV

How much does life insurance cost for someone with HIV? Unfortunately, rates for people with HIV are higher, and it can be hard to get coverage. Check out the life insurance companies that cover HIV will help you find the right policy for your needs.

We know it’s hard to look for life insurance with an HIV diagnosis, but we can help. Read on to learn where you can get life insurance and how much it might cost.

Before learning about life insurance companies that cover HIV, enter your ZIP code to find free life insurance rates in your area.

Are there life insurance companies that cover people with HIV?

The life expectancy for someone with HIV in the 1980s was about one year. Life insurance companies base eligibility and rates on risk, so companies shied away from providing coverage. But modern medical treatments allow those with HIV to live longer.

That begs the question, can HIV positive people get life insurance?

There are still life insurance companies that don’t cover HIV. However, many companies recognize the extended life expectancy of those with this disease and provide coverage accordingly. Some of the popular companies that offer policies to people with HIV include:

  • Guardian Life
  • John Hancock
  • American Amicable
  • American National
  • Prudential
  • AIG

When looking for quotes from life insurance companies that cover HIV, these companies are an excellent place to start.

You might also ask, “Do insurance companies cover HIV medication?” Life insurance companies won’t help with medications, but many health insurance companies will subsidize the cost of HIV prescription drugs.

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What are life insurance rates for people with HIV?

As previously mentioned, life insurance companies base rates on risk. Life insurance companies use a classification system to determine the risk of applicants.

The classification of life insurance applicants includes:

  • Preferred plus
  • Preferred
  • Standard plus
  • Standard
  • Standard smoker
  • Substandard

A person with HIV is likely to fall into one of the lower classifications. However, if the person is otherwise healthy, they might obtain standard rates. The following chart shows the average male monthly life insurance companies’ rates that cover HIV for a 10-year term based on age and value.

Average Monthly Rates From Life Insurance Companies That Cover HIV: Male, 10-Year Term
Age$250,000 10-Year Term Annual Rates$500,000 10-Year Term Annual Rates$1,000,000 10-Year Term Annual Rates
30$45.36$80.35$147.74
40$64.15$114.05$209.95
50$146.69$264.38$502.85
60$351.86$658.37$1,238.98
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The following chart shows the same information for females.

Average Monthly Rates From Life Insurance Companies That Cover HIV: Female, 10-Year Term
Age$250,000 10-Year Term Annual Rates$500,000 10-Year Term Annual Rates$1,000,000 10-Year Term Annual Rates
30$36.94$64.80$116.64
40$53.78$95.90$176.26
50$108.22$202.18$383.62
60$221.62$426.38$800.93
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As you can see, rates increase as customers age and are lower for females than males.

What policies are available for people with HIV?

Life insurance companies would limit the policy options in the past because the life expectancy was so short for people with HIV. However, companies have started to offer traditional coverage to those with a history of the disease. These policies include:

  • Term life insurance
  • Whole life insurance
  • Universal life insurance

The Insurance Information Institute provides some tips on finding the best type of coverage for your needs.

Life insurance for HIV patients has become more accepted in recent years, but it can still be difficult to find traditional coverage. It can be especially hard for those with other medical conditions. Fortunately, there are other options.

Guaranteed and Simplified Issue Life Insurance With HIV

Guaranteed-issue life insurance doesn’t require a medical exam, and the carrier won’t ask any health questions. However, the lack of knowledge about your medical history results in higher rates, and the maximum coverage is usually $25,000.

Simplified-issue life insurance is similar to the guaranteed issue policy in that there is no medical exam. But this plan requires you to answer some medical questions during the application process. They will ask about your HIV status, but approval will depend on the company. The maximum value is usually $40,000.

If the rates associated with guaranteed or simplified issue coverage are too high, another option is final expense insurance. These plans pay for funeral and burial expenses. It won’t provide the same payout as other policies, ranging from $25,000 to $50,000, but will save your loved ones money on your final expenses.

You might also be able to get life insurance from your employer through a group plan. Everyone is eligible regardless of health status, and your employer might subsidize a portion of the cost. However, you’ll lose your coverage when you no longer work for the company.

As you can see, there are plenty of coverage options for people with HIV. What does life insurance not cover? Applicants with a history of substance abuse, intravenous drug use, hepatitis, or AIDS usually can’t obtain coverage.

What if you’re diagnosed with HIV after taking out a policy?

If you test positive for HIV after you’ve purchased a life insurance policy, it shouldn’t impact your coverage. The company will honor the original terms and conditions of the policy.

However, most policies include a two-year contestability period that allows the company to delay paying a death benefit from natural causes while investigating information found during the underwriting process.

If you fail to disclose your condition when applying, the company will consider whether you kept that information from them during the application process. Omitting medical information could result in the cancelation of the policy.

If the company finds that you failed to disclose your medical history, they’ll likely refuse to pay the death benefit. To avoid this situation, you should be completely honest about your health when applying for coverage.

What is the application process like for life insurance companies that cover HIV?

When you apply for coverage from life insurance companies that cover HIV, they’ll ask for specific information about your condition. Some of the information they’ll likely ask for includes:

  • Date of diagnosis
  • Current CD4 count and viral load
  • Medical conditions in addition to HIV
  • Prescribed medications and dosage of each
  • Current and former symptoms

If you’re applying for traditional coverage, there might be other steps. For example, the company might order your medical records and physician statements regarding your treatment, which could take weeks to receive.

The application process is much quicker for guaranteed and simplified issue plans because less information is necessary. These applications only take days to complete.

The underwriter will inquire about multiple factors when determining your eligibility. Some of these factors include:

  • Stage of the disease: Whether you have an acute HIV infection, chronic HIV infection, or AIDS.
  • Age of the applicant: Most carriers require that applicants with HIV be 50 years old or younger.
  • The applicant’s overall health: Whether you have or have had other health issues that could impact your condition.

With this information in hand, the underwriter will determine your eligibility and rates.

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Life Insurance Companies That Cover HIV: The Bottom Line

Life insurance applicants with HIV might wonder if they can obtain coverage. It’s easier to get life insurance with HIV today than it was in the past, but you’ll pay higher rates than those without the disease. Knowing about life insurance companies that cover HIV will help you determine whether you can get coverage.

Now that you know about life insurance companies that cover HIV, enter your ZIP code to get free life insurance quotes in your area.